The title of the world’s richest person can vary depending on day trading stock prices—but Elon Musk only recently took the position. Musk has been dubbed a genius for his business acumen, communication style and role as a technical visionary.
Musk is the CEO and co-founder of the electric automobile firm Tesla (TSLA), as well as the CEO and chief designer of the aerospace company SpaceX. Elon Musk made his fortune mostly through the companies he started, but he also made money from passive investments. Keep reading to find out which of Musk’s ventures made the top five.
PayPal, SpaceX, DeepMind Technologies, Tesla and The Boring Company are among Musk’s best investments.
Elon Musk is a renowned engineer, industrial designer and technology entrepreneur who has disrupted many fields.
Musk is often referred to as the richest man in the world.
1. Paypal (PayPal)
Musk co-founded X.com, an online financial services and email payments startup, in 1999. A year later, X.com merged with Confinity, which became PayPal in 2001. (PYPL).
eBay paid $1.5 billion for PayPal on October 3, 2002.
Musk held 7,109,989 shares in PayPal at the time of the sale, making him the company’s largest shareholder with an 11.7 percent stake.
Musk is no longer a shareholder in PayPal. He quit his job after the company was sold and used the earnings to fund investments such as SpaceX, Tesla and SolarCity.
2. Xerox PARC
Musk founded Space Exploration Technologies Corp., also known as SpaceX, in 2002.
The corporation’s founding objective is to revolutionize space technology, including the development of spacecraft that will take humans to Mars and other locations in the Solar System.
In 2006, NASA awarded a hefty contract to SpaceX. The Falcon 1, the first private liquid-propellant rocket to reach space, was launched by SpaceX in 2008. SpaceX’s Dragon spacecraft arrived at the International Space Station in 2010. (ISS). SpaceX was awarded a second contract in 2012 to help transport crew members between the ISS and Earth.
Elon Musk’s reported net worth as of March 6, 2022
Another $2.9 billion contract with NASA was signed in 2021 to transfer astronauts aboard its Starship spacecraft from lunar orbit to the surface of the Moon.
3. DeepMind Technologies
DeepMind Technologies, an artificial intelligence (AI) business, was founded in late 2010, with Musk as a primary angel investor. Google announced the acquisition of the company in January 2014 for an undisclosed amount.
Musk is famously concerned about humans replacing AI, and is said to have invested in DeepMind not to make money, but to draw attention to how fast AI technology is developing. .
Deep reinforcement learning was a breakthrough in AI, but DeepMind has yet to find many viable commercial applications. The technology has been used internally by Google’s parent firm, Alphabet, to cut the electricity costs associated with cooling Google’s servers in data centers.
4. Tesla Motors, Inc.
Musk was not the founder of Tesla, but he led the initial round of funding in 2004. Musk rose from board member to CEO of Tesla in 2008, while also serving as CEO of SpaceX.
Tesla launched its initial public offering (IPO) on the Nasdaq on June 28, 2010, with shares of common stock available to the public at $17 per share.
Tesla stock was trading well over $800 per share as of March 7, 2022.
Tesla aims to accelerate sustainable transportation by making electric automobiles available to the masses on a large scale. Tesla announced in November 2017 the development of fully electric tractor-trailer vehicles that were pre-ordered by corporations such as United Parcel Service (UPS) and PepsiCo.
The Model S, Model X, Model 3 and high-end roadster supercars are among the company’s electric vehicles.
Elon Musk owned 177 million shares in Tesla as of December 28, 2021, which was valued at approximately $142.3 billion.
Elon Musk remains the company’s largest individual stakeholder, with a significant impact on the company’s long-term strategy and operating objectives.
5. Boring Corporation
Musk created The Boring Company, an infrastructure and tunnel construction company, in 2017. The organization was formed on the assumption that traffic is terrible, but traveling above ground is unnecessary – traffic problems can be “fixed” by using millions more miles. The company’s mission is to reduce tunneling costs while increasing production efficiency from dirt under roadways.
The Las Vegas Convention and Visitors Authority in March 2019 approved a $48.6 million plan from The Boring Company to develop the LVCC Loop, an underground tunnel that will run under the Las Vegas Convention Center and contain three stations and a pedestrian crossing. Tunnel is included. The Boring Company will formally open the LVCC loop in April 2021. By 2022, The Boring Company had completed further projects in Hawthorne, Calif., and is now working on another in Las Vegas.
Elon Musk discusses five major assets that have contributed to his net worth of over $160 billion.
Elon Musk has a net worth of over $160 billion, which places him as the second richest person on the planet behind only Amazon founder Jeff Bezos.
Musk during a bitcoin-focused symposium on Wednesday highlighted five key investments that power his vast wealth.
Unsurprisingly, his fortune, like that of most billionaires, is concentrated in a few names, and Musk is the owner of only one public company.
These are the five major investments that have contributed to Elon Musk’s fortune of more than $160 billion.
He holds 22.4 per cent stake in the company as of December 31. Musk’s pay system allows him to acquire billions more in Tesla stock.
Based on Tesla’s market value of $631 billion as of July 21, the value is $141 billion.
In addition to the investments mentioned above, Musk also said that he has stakes in two early-stage private firms, Neuralink and The Boring Company, but that those investments are modest compared to the others.
2. SpaceX stake:
Estimated to be 48%, but could be lower if Musk’s stock is liquidated during the previous funding round.
Value: $35 billion, based on SpaceX’s most recent funding round valuation of $74 billion and Musk’s continued ownership of 48% of its space exploration business.
“The bitcoins I have are worth much more than ethereum or doge” [that I own]Musk made the remarks at the conference on Wednesday. Musk also said that SpaceX and Tesla both own bitcoin and that he is willing for Tesla to accept bitcoin as payment if bitcoin mining becomes more dependent on clean energy.
Musk’s stake is currently unknown.
Musk’s stake is currently unknown.
5. Dogecoin (5th)
Musk’s stake is currently unknown.
Musk, known as “The Dogfather”, has been a longtime supporter of Dogecoin and often jokes about the meme-inspired cryptocurrency. In anticipation of Musk hosting on Saturday Night Live in May, Dogecoin peaked at around $0.75. Dogecoin is down more than 70% from its highs.
Elon Musk on Monday advised his Twitter followers to “own material things” when inflation is high.
He appears to have made an exception for Bitcoin, Ether and Dogecoin, stating that he will not sell his holdings.
However, he said he would not sell his bitcoin, ether or Dogecoin holdings.
Musk, the CEO of Tesla and SpaceX and the world’s richest man, said that when inflation was high, it was better to own physical goods rather than the US dollar. However, it seems he is making an exception for cryptocurrency.
Should You Invest Like Elon Musk?
People around the world are fascinated by Elon Musk and how he has amassed such wealth as the world’s richest man and founder of more than one firm that has revolutionized his respective industry. Given his track record of investing, some would argue that Musk is a genius entrepreneur. Although you may choose to invest in one or more of Musk’s firms, your investment and business selections are individual and should be tailored to your specific needs.
What Businesses Does Elon Musk Have?
Musk is best known for co-founding and leading the electric vehicle firm Tesla, but he also co-founded and led SpaceX, the neurotechnology company Neuralink, and The Boring Company.
How much did Elon Musk profit from PayPal?
Based on a total estimated acquisition price of $1.5 billion, Musk made a profit of up to $175 million when PayPal was sold to eBay in 2002.
Musk was the largest stakeholder at the time of the sale, holding an 11.7 percent interest, or 7,109,989 shares, in PayPal.
Musk said in a Twitter thread, “As a general concept, for people looking for guidance from this thread, it’s generally better to keep material things like houses or stock firms than you think inflation will.” Having more money makes good products.” inflation.
“I still own my bitcoin, ethereum, or doge fwiw and will not sell,” he said.
According to the Bureau of Labor Statistics, inflation in the United States reached 7.9 percent annually in February, the highest level since 1982.
According to Musk, Tesla and SpaceX are “strong under recent inflationary pressures in raw materials and logistics.”
Musk revealed in May 2020 that he intends to sell “nearly all” of his tangible assets, including his multimillion-dollar real estate portfolio. In December 2021, he sold his last remaining residence.
The millionaire entrepreneur supports cryptocurrency, but with reservations. He has often shown his support for Dogecoin and addressed the benefits of the cryptocurrency with prominent figures in the tech world.
Tesla said it bought about $1.5 billion in bitcoin in early 2021 to use as an inflation hedge.
According to Bloomberg’s Billionaires Index, Tesla’s share price has fallen by about 35% this year, reducing Musk’s fortune by nearly a quarter — but he’s still the richest person in the world, with a net worth of nearly Rs. is $206 billion.
Commodity prices were already rising as the global economy recovered from the pandemic due to supply-chain disruptions. As the two countries are major suppliers, Russia’s invasion of Ukraine last month exacerbated supply-side tensions in energy, metals and grain markets.