• Latest
  • Trending
How Elon Musk Became the World's Richest Man

How Elon Musk Became the World’s Richest Man

August 10, 2022
Russia Defending Itself To Achieve Peace, Lavrov

Russia Defending Itself To Achieve Peace, Lavrov

February 2, 2023
Ukraine Feared Belarus Intervention Following Minsk Declaration

Ukraine Feared Belarus Intervention Following Minsk Declaration

February 2, 2023
Crown Prince Salman Discussed Bilateral Relations With The French Foreign Minister

Saudi Arabia: Crown Prince Salman Discussed Bilateral Relations With The French Foreign Minister.

February 2, 2023
ADVERTISEMENT
Australia To Do Away With British Monarchy On Currency

Australia To Do Away With British Monarchy On Currency

February 2, 2023
Philippines Strengthen Military Relations With The US

Philippines Strengthen Military Relations With The US

February 2, 2023
DONATE
  • TalkOn
  • Vetted
  • Advertise
Forsige
No Result
View All Result
  • Login
  • AfricaNEWS
  • AmericaNEWS
  • AsiaNEWS
  • EuropeNEWS
Forsige
  • AfricaNEWS
  • AmericaNEWS
  • AsiaNEWS
  • EuropeNEWS
No Result
View All Result
Forsige
No Result
View All Result

How Elon Musk Became the World’s Richest Man

Nasiru Eneji Abdulrasheed by Nasiru Eneji Abdulrasheed
in Billionaire
A A
How Elon Musk Became the World's Richest Man

GETTY IMAGE

0
SHARES
147
VIEWS
Share on FacebookShare on Twitter

Elon Musk, 51, is the world’s richest man, ahead of Jeff Bezos and Bernard Arnault, with a net worth of $257.5 billion, according to the Forsige Billionaire Index, leaving many people puzzled as to how he came to be so wealthy.

Elon Musk cofounded more than six companies, including Tesla, SpaceX, Nuralink, a neurotechnology company that develops implantable brain-machine interfaces, and Boring Company, a tunneling startup.

Elon Musk was born on 28 June 1971 into a wealthy family in Pretoria, South Africa.

His mother, Maye, was a Canadian dietitian and model, and his father, Errol, was an engineer.

Musk was reportedly good with computers as a child and designed a video game at the age of 12. At the age of 17, he fled to Canada to avoid military service under the Apartheid regime.

After attending Queens University in Ontario, he transferred to the University of Pennsylvania in 1992, where he studied physics and business.

RelatedPosts

How Larry Page Makes And Spends His $111 Billion Dollars

How Larry Page Makes And Spends His $111 Billion Dollars

December 29, 2022
How Warren Buffet Makes And Spends His $118 Billion Dollars

How Warren Buffet Makes And Spends His $118 Billion Dollars

December 29, 2022

Following graduation, he briefly pursued a Ph.D. in physics at Stanford University in California before co-founding the online business directory Zip2 with his younger brother Kimbal in 1995.

A business he would later sell, signaling his entry into the game of wealth.

The pair sold the company in 1999 for $307 million, with Elon Musk receiving $22 million.

How did Elon Musk become extremely rich?

Billionaires are usually known for starting something that led to the majority of their wealth. But the story is different for Musk.

Unlike most other billionaires, Elon Musk amassed his fortune through a series of successful business ventures rather than a single large success.

After selling Zip2, he ventured into online banking and payments with controversial businessman Peter Thiel, co-founding what became PayPal.

When eBay bought the company in 2009, his stake in it was worth $180 million.

He founded SpaceX in 2002 with the goal of colonizing Mars using low-cost rockets. And he did this with a portion of his earnings from the Paypal sales.

The following year, he invested $6 million in Tesla, despite the fact that the company had yet to produce a real car.

Both companies struggled at first, but SpaceX took off in 2008 after signing a $1.6 billion contract with NASA, and Tesla’s first vehicle, the Model S, entered mass production in 2012.

SpaceX is now a key partner in NASA missions, and Tesla cars can be seen on streets all over the world as people become more environmentally conscious.

Elon Musk was worth about $20 billion alone in 2018 and was nowhere near the top fifty of the World’s Richest People.

Musk has since seen a meteoric rise to become the world’s richest person in 2020, with a net worth of more than $100 billion, and then another significant rise over $300 billionaire, with him becoming the first person to reach that level of wealth.

Elon Musk’s fortune has grown to astronomical proportions as a result of Tesla’s share price, which tripled in value to more than $1 trillion in 2021 – though it is now worth approximately $887.82 billion.

After a funding round in May 2022, SpaceX is worth $125 billion, having quadrupled its value in three years.

Boring Company, which aims to eliminate traffic, raised $675 million in April 2022 at a valuation of $5.7 billion.

Musk, who has a net worth of $257.5 billion, purchased a 9.1% stake in Twitter before announcing a $44 billion takeover bid a few days later.

Elon Musk is worth more than the gross domestic product (GDP) of more than 150 countries and territories.

This includes the GDPs of countries such as New Zealand and Iran.

ShareTweetSendShareSend

Trust Forsige for the stories that matter: Subscribe to get real time updates.

Unsubscribe
Nasiru Eneji Abdulrasheed

Nasiru Eneji Abdulrasheed

I'm a senior member at Forsige covering topics on diplomacy, politics, technology, and foreign policy relating to Africa, the United States, and the World.

Related Posts

How Larry Page Makes And Spends His $111 Billion Dollars
Billionaire

How Larry Page Makes And Spends His $111 Billion Dollars

by Nasiru Eneji Abdulrasheed
December 29, 2022
How Warren Buffet Makes And Spends His $118 Billion Dollars
Billionaire

How Warren Buffet Makes And Spends His $118 Billion Dollars

by Nasiru Eneji Abdulrasheed
December 29, 2022
How Bill Gates Makes And Spends His $129 Billion Dollars
Billionaire

How Bill Gates Makes And Spends His $129 Billion Dollars

by Nasiru Eneji Abdulrasheed
December 29, 2022
How Bernard Arnault Makes And Spends His $158 Billion Dollars
Billionaire

How Bernard Arnault Makes And Spends His $158 Billion Dollars

by Nasiru Eneji Abdulrasheed
December 29, 2022
How Jeff Bezos Makes And Spends His $171 Billion Dollars
Billionaire

How Jeff Bezos Makes And Spends His $171 Billion Dollars

by Nasiru Eneji Abdulrasheed
December 25, 2022
Load More
Next Post

Why The Major Countries Are Not On The Same Page With The U.S Over Situation Between China and Taiwan.

Biden Signed Documents Approving For Finland and Sweden into NATO.

Abdul Samad Rabiu Receive $151.6 Million In Dividends From BUA Foods

Abdul Samad Rabiu Receive $151.6 Million In Dividends From BUA Foods

ADVERTISEMENT

Popular Articles

  • How Larry Page Makes And Spends His $111 Billion Dollars

    How Larry Page Makes And Spends His $111 Billion Dollars

    0 shares
    Share 0 Tweet 0
  • Elon Musk Testifies in Court says ‘No Ill Motive’ Behind Tweet about Privatizing Tesla

    0 shares
    Share 0 Tweet 0
  • Google employee resigns saying the company silences Palestinians after making a $1 billion deal with Israel army

    0 shares
    Share 0 Tweet 0
  • How Elon Musk Makes And Spends His $300 Billion Dollars

    0 shares
    Share 0 Tweet 0
  • How Tony Elumelu Makes And Spends His $700 Million Dollars

    0 shares
    Share 0 Tweet 0
  • Elon Musk Hints At Buying Substack To Challenge Mainstream Media

    0 shares
    Share 0 Tweet 0
  • How Bill Gates Makes And Spends His $129 Billion Dollars

    0 shares
    Share 0 Tweet 0
ADVERTISEMENT

Connect With Us

ADVERTISEMENT

Talk On

Help Develop Forsige

Vetted

Shop on Forsige

Creator Program

Write & Earn

Advertise

Advertise on Forsige

Forsige Council

Become a Member

Company Info

Write for Us

Advertise

About

Contact

Privacy

Terms & Condition

FAQ

Products

Forsige Africa

Forsige Asia

Forsige Europe

Forsige America

Forsige Vetted

TalkOn Forsige

Forsige Council

Categories

Climate Change

Market

Science

Health

Investment

Sport

Travel

Entertainment

Forsige

Profiles

Influencers

Billionaires

Quotes

Money

Leadership

Innovation

Entrepreneurship

© 2022 – Forsige Media - All Right Reserved. Designed and Developed by Qlute

No Result
View All Result
  • BREAKING
    • Africa
    • America
    • Asia
    • Europe
  • Billionaire
  • Business
  • Climate Change
  • Diplomacy
  • Economy
  • Entertainment
  • Entrepreneurship
  • Health
  • Influencers
  • Innovation
  • Investmnet
  • Leadership
  • Market
  • Money
  • Politics
  • Science
  • Sport
  • Technology
  • Travel

@2022 - Forsige Media - All Right Reserved. Designed and Developed by Qlute Studio

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Manage Cookie Consent
All Forsige Media websites use cookies to improve your online experience. They were placed on your computer when you launched this website. You can change your cookie settings below.

 

 

 
Functional Always active
The technical storage or access is strictly necessary for the legitimate purpose of enabling the use of a specific service explicitly requested by the subscriber or user, or for the sole purpose of carrying out the transmission of a communication over an electronic communications network.
Preferences
The technical storage or access is necessary for the legitimate purpose of storing preferences that are not requested by the subscriber or user.
Statistics
The technical storage or access that is used exclusively for statistical purposes. The technical storage or access that is used exclusively for anonymous statistical purposes. Without a subpoena, voluntary compliance on the part of your Internet Service Provider, or additional records from a third party, information stored or retrieved for this purpose alone cannot usually be used to identify you.
Marketing
The technical storage or access is required to create user profiles to send advertising, or to track the user on a website or across several websites for similar marketing purposes.
Manage options Manage services Manage vendors Read more about these purposes
View preferences
{title} {title} {title}