If you are also asking, ‘How much does Elon Musk make a second,’ the answer may surprise you. Elon is not only an entrepreneur and self-made billionaire, but he’s also the second richest man in the world and the new CEO of Twitter.
In fact, according to recent reports, Elon Musk has made an astonishing $161 billion dollars over the last decade alone! That’s an incredible amount of money, and it means that Elon earns approximately $486.50 per second.
What’s even more impressive is that, unlike most entrepreneurs and CEOs, Elon doesn’t have a fixed salary. Instead, he makes all of his money by building and scaling his businesses like Tesla, SpaceX, and The Boring Company.
If you’re curious to learn more about Elon’s income and salary, you’ve come to the right place. In this comprehensive guide, we’ll teach you everything you need to know about Elon Musk’s incredible wealth, including how he manages to make almost $500 dollars per second!
How Much Does Elon Musk Make A Second?
It’s no secret that Elon Musk is one of the wealthiest people on the planet. However, determining exactly how much he makes per second is a bit more complicated than it might seem.
While we don’t know the exact breakdown of his private assets, we do know that the majority of his wealth is tied up in stocks, primarily in Tesla.
According to trusted sources like Forbes and Bloomberg, Elon Musk’s net worth was estimated to be around $146.5 billion as of 2021. However, by looking at his net worth from 2013 – when he was worth a mere $2.6 billion – we can see that he’s made an astounding $143.9 billion over the course of a decade.
That means that Elon has been making an average of $14.39 billion per year, which translates to $39,403,066.81 per day, $1,641,794.45 per hour, $27,363.24 per minute, and a jaw-dropping $456.05 per second!
To put that in perspective, in the time it takes to read this sentence, Elon Musk will have earned more than $1,000. While it’s hard to fathom that kind of wealth, it’s a testament to the incredible success of his businesses, which continue to grow and scale at an impressive rate.
What is Elon Musk’s Net worth?
As of February 2023, the net worth of Elon Musk is $164 billion – that makes him one of the wealthiest people on the planet. He is presently the second wealthiest person in the world.
However, his journey to financial success has not been easy, and it wasn’t always clear that he would achieve such heights.
In fact, in the early days of his career, Musk struggled to get his companies off the ground. He started by building and selling internet companies such as Zip2 and PayPal, and he invested the profits from those ventures into other companies, including Tesla and SpaceX.
These two companies are now the primary drivers of his net worth, with Tesla producing electric vehicles and sustainable energy solutions, and SpaceX developing rockets and other space technology.
Elon’s net worth peaked at $340 billion dollars in November 2021, making him the richest person in the world at the time. However, his fortune took a hit in 2022 due to the stock market crash, and he has since fallen to the second richest person in the world, behind Bernard Arnault.
Despite his immense wealth, Elon Musk insists that he is motivated by doing useful things for humanity rather than just making money. This is evident in his ambitious goals to reduce carbon emissions with Tesla’s sustainable energy solutions and to make space travel more accessible with SpaceX’s rocket technology.
Was Elon Musk Born Rich?
Many people wonder whether Elon Musk was born rich or not. The answer is no, he was not born rich. In fact, his parents were very poor, and they could not afford to pay for his college education. When Elon graduated from college, he had more than $100,000 dollars in student loan debt.
However, he did not let his financial struggles hold him back. Instead, he used his intelligence and entrepreneurial spirit to start multiple successful companies and pay off his loans. Elon’s childhood was not easy, but he says the only advantage he had was his intelligence.
He spent his free time reading books in the library and playing around with different business ideas in his head.
Elon always wanted to be an engineer and invent things, as he believed that was the best way for him to use his skills to help humanity. In college, he majored in business and engineering because he felt that understanding both the economy and physics was crucial to changing the world.
Elon even went to graduate school, but he dropped out after only two days to work on his first business, Zip2. Today, Elon Musk is incredibly wealthy, with a net worth of $164 billion. Despite his financial success, he says he remains motivated by doing useful things for humanity, rather than just making money.
How Did Elon Musk Make His Money?
We know by now the question, ‘How much does Elon Musk make a second’ must have fizzled out of your mind – we already answered that. But another daring question is how the billionaire entrepreneur makes his money.
Well, it’s no news that Elon Musk made his fortune by building and selling internet companies like Zip2 and PayPal and then starting some of the world’s most successful businesses including Tesla and SpaceX. But let’s look at some of Elon Musk’s businesses.
- Zip2: A web software company that provided business directories and maps to newspaper companies. Musk co-founded Zip2 with his brother, Kimbal, in 1995, and sold it in 1999 for $307 million dollars.
- PayPal: This is an online payment system that allowed people to transfer money over the Internet. Musk was also a co-founder of PayPal. He created the company in 1999 but sold it in 2002 to eBay for $1.5 billion dollars.
- SpaceX: A private space exploration company that designs, manufactures, and launches advanced rockets and spacecraft. SpaceX was founded in 2002, and today it is valued at over $100 billion dollars.
- Tesla: You must have heard of this. It is an electric car and clean energy company that produces electric cars, solar panels, and energy storage solutions. Musk became involved with Tesla in 2004, and is currently the CEO. Today Tesla is valued at over $1 trillion dollars.
- The Boring Company: Not everyone know of this anyway. The Boring Company is a tunnel construction company that aims to alleviate traffic congestion in urban areas by creating underground transportation networks. This company was also founded by Musk in 2016, and it I presently one of his assets.
- Neuralink: Neuralink is a neurotechnology company that develops implantable brain–machine interfaces. Musk co-founded Neuralink in 2016.
- OpenAI: AI is presently in the news for various reasons, and Elon Musk has decided to be part of the story. OpenAI is an artificial intelligence research laboratory. Musk was part of the founding team of OpenAI, which was created in 2015.
Elon Musk has also been involved in several other ventures and projects, including SolarCity, Hyperloop, and Starlink.
How Much Does Elon Musk Have In the Bank?
While Elon Musk is one of the wealthiest people on the planet, it’s difficult to determine how much money he keeps in his bank account.
Unlike the average person, Elon’s net worth is primarily made up of stocks and investments in his businesses, which are not considered “liquid” assets.
It’s possible that Elon Musk has very little actual cash on hand at any given time, as he may need to liquidate some of his stock holdings to obtain cash.
In fact, he once had to sell millions of Tesla shares to fund a Twitter acquisition, despite already having a substantial net worth.
Where Does Elon Musk Live?
Elon Musk has several homes, but his primary residence is in the United States. He currently resides in a mansion located in the Bel Air neighborhood of Los Angeles, California.
The mansion, which he purchased for $17 million in 2012, boasts six bedrooms, 10 bathrooms, a home theater, a gym, a wine cellar, and a two-story library.
He also owns a number of other properties, including a house in the Bay Area of California and a mansion in Boca Chica, Texas, near SpaceX’s launch site.
Is Elon Musk Really Going to Mars?
Yes, Elon Musk is committed to his long-term goal of colonizing Mars. His aerospace company SpaceX has been working on developing spacecraft capable of traveling to Mars and establishing a human settlement on the planet.
Musk believes that becoming a “multi-planetary species” is essential to ensuring the survival of humanity in the event of a catastrophic event on Earth.
He has spoken publicly about his plans to send humans to Mars as early as 2026, with the ultimate goal of establishing a self-sustaining city on the planet with a million people.
Final Note on How Much Does Elon Musk Make a Second
Now you have an answer to the question. In the past 10 years, Elon Musk net is approximately $164 billion. This means that the billionaire entrepreneur makes about $500 per second!
The average person in the United States makes about $70,000 per year. That means it would take them about 23.4 million years to become as rich as Elon Musk!
