Elon Musk is one of the most visionary entrepreneurs of our time. He has co-founded and sold multiple internet companies like Zip2 and PayPal.com. He has also led the charge in commercial space exploration and making alternative transportation cool as well as accessible to the mass market. All of which has directly led to him becoming a multi-millionaire by the age of 28, and then a multi-billionaire just three years later.
Elon Musk is an entrepreneurial trailblazer who has been stacking his accomplishments for well over two decades now. And naturally, with an impressive resume such as his, comes avalanches of money and a massive net worth. So, that’s exactly what we aim to address in this article, the net worth of the world’s richest man. We’ll also touch on his baseline income, his net worth history, and a few other interesting facts. That said, let’s dive in to Elon Musk’s net worth.
So What is Elon Musk’s Net Worth?
Elon Musk’s net worth is more difficult to pin down compared to most millionaires and billionaires. The primary reason for this is because he is still in his prime. For instance, Tesla, the company he is heavily invested in and runs as the CEO, recently saw it’s stock price grow by dramatically over the past year.
In addition to this, his space exploration company Space X recently doubled from $51 billion to over $100 billon. [1] So, his net worth is constantly fluctuating. With that being said, at this moment in time, we’ve assessed Elon Musk’s net worth at $180.7 billion. [2]
He’s down $75.1 billion since our last update in 2022, which comes down to about a 37% loss (ouch) since then. Hopefully all of 2023 won’t be as difficult for Elon Musk as the past few months have been for him. On the bright side however, he is still one of the richest men on the planet!
How Much Does Elon Musk Make?
Elon Musk’s most recent payout before he bought Twitter, was clocked in at $23 billion.[3] This money was from hitting performance goals for Tesla, which offered such a generous payout as part of an ongoing pay-for-performance package.
That said, this number changes from year to year based on how Tesla performs, and it doesn’t include any income from his other company’s.
Elon Musk’s Baseline Income
Have you ever wondered how much money Elon Musk could make if he decided to cash out on all his ventures and call it a career? Well, we aim to provide that baseline income for you.
That said, this metric is based off the potential earning power of his Elon’s multi-billion dollar net worth alone. It is what his baseline annual income could be indefinitely if he decided to live of the residual income his assets could produce for him.
With that being said, let’s dive in. So, presupposing Elon Musk decided to sell his $180 billion in assets, and invested that windfall profit into something “safer” like a few modest yielding REITs, ETFs, or stocks with an annual 4% dividend yield (a very reasonable return to expect, considering historical returns on safe investments tend to fall between the 3% to 5% range), this is what we would we get.
Elon Musk’s baseline income would be $7.22 billion a year. In other words, he could make $19.8 million every single day for pretty much doing nothing for the rest of his life. Here’s what that could look like broken down even further.
ELON MUSK MONEY METRICS
| Money Metric | Amount |
|---|---|
| 2023 Net Worth: | $180,700,000,000 |
| **Earnings Per Year: | $7,228,00,000 |
| Per Month: | $602,333,333 |
| Per Week: | $139,001,069 |
| Per Day: | $19,857,295 |
| Per Hour: | $827,387 |
| Per Min: | $13,789 |
| Per Sec: | $229 |
Disclaimer: This is a hypothetical (but very possible) earnings Metric for Elon Musk based off of his net worth’s earning power alone. This metric does not include the earnings he receives from his recent bonus payout(s) etc…. This calculation is for entertainment purposes only.
Elon Musk Net Worth History
Elon Musk wasn’t always the richest, but he has certainly been well-off for quite some time. In fact, he didn’t reach the pinnacle of wealth until Sept. 2021. That said, below is a helpful snapshot of how Elon Musk’s net worth has taken off over the years.
The wealth history graph below goes back 7 years, starting in 2016, and demonstrates how Elon’s net worth exploded after 2020, and grew by over 1,647% since 2016 (despite his recent crash).
Elon Musk’s Social Influence
Elon Musk already had a larger than life social media influence before he bought Twitter. But now his social clout is out of this world massive.
Here’s a rough look at Elon’s social media reach. Musk had 8 million Instagram followers (before he deleted his account) and 109.9 million Twitter followers before he bought Twitter on October 27th, 2022. However, now as owner of Twitter, his social media following is roughly 131.4 million.
That said, if Elon ever decided to make a little side money from social media, he could potentially earn $985K to $2 million per sponsored post.
This test is at ~50% throttle. Launch attempt next month will be at ~90%. https://t.co/oMrnBIiBjY
— Elon Musk (@elonmusk) February 11, 2023
Interesting Elon Musk Facts:
- In 2012 Elon Musk become a billionaire.
- Elon Musk became the world’s richest in 2021.
- Elon Musk lost the title of world’s richest in 2023.
- In 2021 Elon Musk was named Time Magazine’s person of the year.
- In 2022 Twitter’s board of directors agreed to sell the company to Musk for $44 billion.
- Elon Musk was once more than twice as rich as Warren Buffett
- Elon Musk is the proud father of 10 children.
How Did Elon Musk Become So Rich?
Elon was born in South Africa, moved to Canada for college, transferred to the U.S.A to finish his degrees in Economics and Physics. He also attended a Ph.D. program, but dropped out after just two days to dive into the dot com craze during the late 90’s.
He took calculated risks with his business start-up, which was driven by a larger than life ambition fueled by his passion.
In addition, Elon Musk also had a vision for the future, and saw ahead of time the need for digital mapping, e-finance, commercial space exploration and colonization, and modes of transportation that rely on alternative energy. And he courageously put all his eggs in each of these baskets.
So, in essence, he became successful by pursuing ventures that aligned with his purpose and passions, never giving up on his visions of “what could be”, and then relying on a super human work ethic to bring it all together.
Read More: Elon Musk Success Story
Success Sayings
Here are a few of his more well-known sayings about success to help paint a better picture. Be sure to share if you like any of them.
Related: Elon Musk Success Quotes
Billion Dollar Mindset
If you’re looking for further insight into the the mindset that has lead to the creation of billions of dollars in value, then give the video below a few minutes of your time. The video does a great job depicting the way Elon Musk thinks and approaches problem solving. Enjoy!
Video Credit: Mulligan Brothers (Subscribe to Their Channel Here)
Key Takeaways
Here are some key takeaways from our Elon Musk Net Worth profile page:
- Musk’s Net Worth in 2023: $180.7 billion
- Musk’s Net Worth in 2022: $255.1 billion
- Net Worth’s Earning Power: $7.22 billion
- Social Media Followers: 109.9 million
- Social Media Earning Power: $985K to $2 million per sponsored post
- Keys to Success: Purpose, Passion, Fearlessness, Work-Ethic
Elon Musk’s net worth and success is not typical, but clearly reaching such staggering levels of success is possible; otherwise Musk wouldn’t have achieved it.
And hopefully, you’ll agree that it is inspiring to know that a smart kid with a dream could follow his passion, work his tail off, take massive risks, and as a result create massive “luck” for himself.
So, follow suite and see what kind of “luck” you can also create for yourself.
Till next time,
STRIVE
PS – If you enjoyed this Elon Musk Net Worth profile, then you’ll likely enjoy learning about the net worth of some of his direct competitors like, Jeff Bezos or Bernard Arnault. And if you really want to see who was the richest, you’ll love this.
** These earnings are hypothetical and calculated off of the earning power of Elon Musk’s net worth alone assuming a 4.0% dividend yield.
Leave a Reply