One of the most significant figures of the twenty-first century is Elon Musk. Along with co-founding Tesla and PayPal, he also founded SpaceX, Neuralink, and The Boring Company. Being the richest person in the world, it’s only natural to be curious about his fortune and how he got to this position.
So, how much does Elon Musk make a day?
We estimated Elon Musk make $650 million a day according to his net worth. Put another way, that works out to $81.25 million an hour.
For your benefit, we provide all the details you require about the renowned billionaire in this article.
Table of Contents
How Much Does Elon Musk Make A Day?
Elon Musk’s net worth of $253 billion enables us to estimate his daily income as being around $650 million. In other words, that works out to $81.25 million per hour.
It goes without saying that Elon Musk did not become rich overnight. To get to where he is now—on top of the world—took him many years of perseverance and dedication. Before eventually helping to found PayPal, he first worked on video games. He later rose to the position of CEO at Tesla and SpaceX.
Elon Musk’s Net Worth Brief Stats
Consider your assumptions about Tesla’s owner again. The following 15 statistics and facts will help you understand how much money he is making.
With A Net Worth Of $253 Billion, Elon Musk Is Currently The Richest Man On Earth.
According to a 2022 Forbes article, Musk earned $253 billion, or about $650 million per day. This means that Elon Musk makes more money every day than the GDP of some small nations, like American Samoa, and more than the majority of people will ever see in their lifetimes.
The Hourly Wage For Elon Musk Is Roughly $81.25 Million.
Based on his net worth, Elon Musk’s wealth increases by about $81.25 million per hour, if we do the math.
To put it into perspective, the US average hourly wage is $32.08. You would need to work for more than three thousand years to earn Elon Musk’s hourly wage.
Since The Start Of The Pandemic, Musk’s Net Worth Has Increased From $24.6 Billion To $234 Billion.
In March 2020, Elon Musk had an estimated net worth of over $24 billion. Yet he increased his net worth by a startling 793% during the pandemic as a result of the rise in Tesla’s share price.
In 2021, Musk Claimed He Would “pay More Taxes Than Any American In History” That Year.
How much tax did Elon Musk actually pay for 2021? $11 billion. He does, however, have the choice to borrow money by pledging stock in his company as security.
The Sale Of Paypal To Ebay Brought In $180 Million For Elon Musk.
How much did Elon Musk charge for PayPal? $1.5 billion was the total amount. But his earnings were a little lower than that. In other words, he received $180 million from the sale.
Millions Of Dogecoins Are Purportedly Owned By Elon Musk.
A joke-based cryptocurrency called Dogecoin was developed. However, DOGE might be the next cryptocurrency to take off because of Elon Musk. He is said to be in possession of over $15 million worth of Dogecoins, or about 2.5 million of them.
However, don’t forget to treat this information with caution.
Musk Spent $1.5 Billion To Purchase Bitcoin In 2021.
Elon Musk is now one of the biggest Bitcoin investors in the world thanks to Tesla’s recent $1.5 billion investment.
In light of this, some believe that Tesla’s CEO is igniting a hornet’s nest with his cryptic tweets and comments regarding Bitcoin and DOGE.
Elon Musk Earns $375 Every Second.
Musk is therefore earning about $22,500 per minute. Jeff Bezos, the third-richest person in the world, earns just $0.10 per second in contrast.
Since Making A Purchase Offer For Twitter, Elon Musk Has Lost $49 Billion.
After Musk announced his offer to buy Twitter for $44 billion, Tesla shares fell by 28%. His net worth decreased by $49 billion as a result.
Elon Musk Was Raised By Affluent South African Parents.
Actually, it’s not a secret that Elon Musk’s father is extremely wealthy. In particular, Errol Musk, Elon Musk’s father, is said to be worth $2 million.
Errol’s work as a developer of properties was what made him wealthy. Several mines were also owned by him. Elon Musk was essentially born rich. But he wasn’t content to rest on his laurels. For the level of success he enjoys today, he put in a lot of effort.
Development Of Video Games Was Where Elon Musk Received His First Paychecks.
It’s interesting to note that Elon Musk’s first salaries came from the creation of video games, despite the fact that his net worth will top $200 billion by 2022. In particular, when he was 12 years old, he created the $500 video game Blastar with a space theme.
It’s safe to say that Musk was financially savvy even as a young child.
For $307 Million, Musk Sold Zip2, His First Company.
Elon Musk’s wealth-building strategy When Musk sold Zip2, his first business, to Compaq for $307 million in cash and stock options in 1999, everything began. As a student at Stanford University, he and his brother Kimbal founded Zip2.
25% Of Tesla’s Stock Is Owned By Elon Musk.
Musk will own about 25% of Tesla stock as of 2022. Musk also owns SpaceX, a $125 billion privately held space exploration company, in addition to Tesla.
Tesla Doesn’t Pay Musk A Salary. He Opted For Payment In The Form Of Stock Options Instead.
Elon Musk makes a little bit more money than the average person. To be specific, Tesla does not pay him a salary. He is compensated in stock options instead. This implies that his compensation is directly correlated with Tesla’s stock price growth.
Elon Musk Has Earned $36 Billion In A Single Day, Which Is The Most Ever.
Hiscox Global Holdings Inc. decided to purchase 100,000 Musk made an astounding $36 billion in a single day selling Teslas. Additionally, Tesla stock increased 13%, increasing the company’s market value to over $1 trillion.
Elon Musk’s Businesses
Now that we’ve answered the question “How much money does Elon Musk earn annually?” you’re probably curious about the businesses behind his fortune.
Tesla, a company that was established in 2003, produces electric cars as well as equipment for storing and generating clean energy. According to Forbes, Musk owns about 21% of the company, but more than half of that amount is currently used as loan collateral. Tesla shares have increased 33% in the last year, making them a profitable investment. On June 21, 2022, they closed at $711.11 per share, with a 52-week range that ranged from $620.46 to $1,243.49 per share.
Musk is the CEO of SpaceX, which he co-founded in 2002. According to the aerospace company’s website, there have been 102 total reflights, 126 total landings, and 164 total launches since its founding. Although SpaceX is privately held, existing investors reported that the company was valued at more than $100 billion following a share sale in October 2021. According to CNBC, the company has an agreement with new and existing investors to sell up to $755 million worth of stock from insiders at a price of $560 per share.
As it is reportedly raising a new round of funding, the company valuation is most likely increasing. According to a CNBC report from May 2022, this would raise its valuation to $127 billion.
Elon Musk’s Real Estate Portfolio
Despite being the richest person on earth, Musk does not currently own his home. In fact, he has sworn he will never again be a home owner.
In May 2020, he tweeted “Nearly all of my material possessions are being sold. Will own no house.” He delivered on that assurance, selling seven homes for close to $130 million, as reported by The Wall Street Journal. He mentioned renting a $50,000 Boca Chica, Texas, house from SpaceX in a tweet from June 2021. You may want to know how to contact Elon Mask.
Breaking Down Elon Musk’s Income And Wealth
The world’s richest man, Elon Musk, has surpassed Jeff Bezos, even though, like many billionaires, the majority of his wealth is derived from his stock holdings.
Another major source of revenue is SpaceX, which charges governmental and commercial customers to send a variety of objects into space, including satellites, supplies for the International Space Station, and humans.
According to the Approve research, his wealth has increased by 129% yearly since 2017, putting him on track to join the trillion-dollar club in just two years with an anticipated net worth of $1.38 trillion by 2024.
When PayPal was sold to eBay in 2002, Musk made his first sizable profit of about $165 million. His net worth increased by $2 billion as a result, earning him his first spot on Forbes’ Billionaires List in 2012.
Musk’s net worth at the start of 2020 was a surprise at $27 billion. By the end of the year, mostly as a result of Tesla stocks, his net worth had increased by $150 billion.
Who Is Elon Musk?
Although we have a lot of knowledge about Musk and his wealth, do we really know enough about the well-known billionaire?
For instance, do you know Elon Musk’s age? Musk turned 50 on June 28, 1971, the date of his birth.
Because of his initiatives centered on our future, Musk is regarded as a very influential person in our time. For instance, Musk stated that Neuralink plans to begin implanting its brain chips in people in 2022. However, he noted that those with severe spinal cord injuries would be the first to receive the chips.
He also uses The Boring Company, which constructs tunnels, as an illustration of his futuristic outlook. A few hundred million dollars are now the combined value of both businesses. The entrepreneurial spirit of Musk is clearly demonstrated by his two most recent endeavors.
One of the most popular searches on the internet is for Elon Musk’s biography. His early life, achievements, wealth, and personal life are all fascinatingly described in his biography.
He moved to California in 1995 to attend Stanford University, but he decided to pursue a career in business instead, co-founding Zip2 with his brother Kimbal. After that, Compaq acquired the business in 1999 for $307 million. Musk was a co-founder of the online lender X.com in the same year, and in 2000, it merged with Confinity to form PayPal. eBay then bought the company for $1.5 billion in 2002.
Elon Musk has a net worth of about $273 billion, as was already mentioned. Musk’s praise for paying his taxes is an intriguing aspect of him. On $1.52 billion in earnings between 2014 and 2018, Musk paid $455 million in taxes.
His expected tax burden for 2021 was $12 billion, based on the sale of $14 billion in Tesla stock. Musk has frequently criticized well-known people for not paying their taxes, saying that it is imperative to do so.
Despite the fact that his IQ is not publicly known, some experts believe it to be between 150 and 155. Considering the average IQ of geniuses like Einstein and Stephen Hawking was 160, this is a very high score.
FAQs
What Does Elon Musk Do Every Day?
The majority of Elon Musk’s daily activities revolve around work. Although some sources claim he reads two books per day, we can’t be sure since his work takes up the majority of his time. He typically goes to bed at midnight and gets up at seven, giving him six hours of sleep.
What Is Elon Musk Doing To Alter The World?
Musk is a businessman and inventor who is slowly changing the world and the future with initiatives like SpaceX, where he was able to reduce the cost of space exploration while highlighting its commercial potential.
What Can We Learn From Elon Musk?
Every person needs to approach everything differently, according to Musk. He thinks the best way to become innovative is to go against the grain. The most crucial lesson to take away from him is to stop slavishly adhering to fashions.
What Drives Elon Musk?
When asked what drives him to create SpaceX, he replied that his inspiration comes from a somewhat philosophical place. He wants to see things in a different way, as we previously mentioned, and that is where he finds inspiration.
Why Is Elon Musk So Intelligent?
As a natural autodidact who devours volumes of literature, Musk benefits from having a photographic memory. Furthermore, according to some sources, he studies for five hours each week. His desire to learn more about the unexplored is what makes him brilliant.
Conclusion
Given that Elon Musk recently made headlines for his takeover of Twitter, it is safe to assume that he has no intention of slowing down any time soon. Who knows, perhaps Elon Musk’s daily earnings will soon set new records!
Many thanks for reading.