[Latest] Elon Musk Net Worth 2024: Salary, Net Worth in Rupees (INR), Income

Elon Musk is a South African-born American business magnate, investor, engineer, and inventor. Musk is the CEO and co-founder of SpaceX, CEO and product architect of Tesla, Inc., and chairman of Neuralink. He is also a co-founder and former chairman of SolarCity, co-founder of Zip2, and founder of The Boring Company. 

According to the Bloomberg Billionaires Index, Elon Musk is currently recognised as the world's richest person, with a net worth of over $400 billion. 

His wealth increased by about $218 billion since the beginning of 2024. This rise is mainly due to a big jump in Tesla's stock price and a recent sale of shares at SpaceX, which added around $50 billion to his fortune.

Musk's wealth is primarily derived from his holdings in Tesla, an electric vehicle manufacturer that aims to accelerate the world's transition to sustainable energy, and SpaceX, which was founded to reduce space transportation costs and enable the colonisation of Mars. 

He is far ahead of other billionaires like Jeff Bezos and Mark Zuckerberg, who have net worths of about $243.70 billion and $223.40 billion, respectively. Elon Musk remains one of the most influential figures in technology today, shaping industries with his innovative approaches and bold ideas.

 For more information, read Elon Musk’s Biography. 

Elon Musk's Early Career

Musk's career began in 1995 when he and his brother, Kimbal, founded Zip2, a company that provided online content publishing software for news organisations. In 1999, the company was acquired by Compaq for nearly $300 million.

After the sale of Zip2, Musk co-founded X.com, an online payment company, which later became PayPal and was bought by eBay for $1.5 billion in 2002.

Musk's foray into the automotive industry began in 2004 when he became a majority shareholder in Tesla Motors, a company that designs and manufactures electric vehicles, energy storage systems, and solar panel manufacturing.

Under Musk's leadership, Tesla has become a leader in the electric vehicle market and has released several successful models, including the Tesla Roadster, Model S, Model X, and Model 3.

In 2006, Musk co-founded SolarCity, a company that provides solar panel installation and energy management services. In 2016, SolarCity was acquired by Tesla, Inc. for $2.6 billion.

Musk is also the CEO and co-founder of SpaceX, a company that designs and manufactures advanced rockets and spacecraft. SpaceX has made headlines for its successful launches, including the first privately funded liquid-fuelled rocket to reach the International Space Station, and for its plans to colonise Mars.

In addition to his work in the automotive and aerospace industries, Musk is also the chairman of Neuralink, a company that develops implantable brain-machine interfaces. 

Elon Musk Net Worth 2024

Source: CBS News

Musk's net worth has grown significantly over the years due to the success of his companies and his ownership stakes in them. According to Bloomberg Billionaires Index, Elon Musk's net worth today is estimated to be over Rs. 36,914,250 crores INR. 

In other words, Elon Musk’s net worth in billions is around $447 billion. 

Elon Musk's Salary and Earning Assets

According to Bloomberg Billionaires Index, Elon Musk is the most richest person in the world occupying the first position . Musk's total net worth is $447 billion fueled by his ventures in space exploration, electric vehicles, and renewable energy.

Elon Musk's salary is not structured like a traditional CEO's. Instead, he has a performance-based compensation package valued at approximately $56 billion.

This package was recently approved by Tesla shareholders and is contingent on Musk meeting specific milestones related to the company's growth, such as market value, revenue, and profit targets.

Despite this staggering figure, Musk reportedly received no direct salary in recent years, as his compensation is entirely tied to stock options that he can access only if the company meets its performance goals.

In terms of his earnings from assets, Musk's wealth primarily comes from his stakes in various companies:

• Tesla: His largest asset, with significant stock ownership.
• SpaceX: Valued at approximately $71.2 billion.
• X (formerly Twitter): Estimated at $8.4 billion.
• The Boring Company: Worth around $3.3 billion.

His potential earnings through stock options and his substantial holdings in multiple high-value companies position him among the wealthiest individuals globally.

Elon Musk Net Worth Current Updates 

Elon Musk has recently achieved a historic financial milestone, becoming the first person in history to surpass a net worth of $400 billion. As of December 2024, his net worth is estimated at $447 billion, according to the Bloomberg Billionaires Index.

This remarkable increase in wealth has been attributed primarily to a significant insider share sale at SpaceX, which added approximately $50 billion to his fortune in a single transaction.

Key Factors Contributing to Musk's Wealth Surge

• SpaceX Share Sale: The recent sale valued SpaceX at about $350 billion, making it the most valuable private startup globally. Musk holds a 42% stake in SpaceX, now worth around $147 billion.
• Tesla Stock Performance: Tesla's shares have surged nearly 71% this year, reaching an all-time high of $424.77. This increase is partly due to investor optimism surrounding potential regulatory changes under President-elect Donald Trump that could favor Tesla's market position.
• Valuation of xAI: Musk's artificial intelligence venture, xAI, has seen its valuation more than double to approximately $50 billion, further diversifying his wealth portfolio.

Comparisons with Other Billionaires

Musk's wealth significantly outpaces that of other notable billionaires:

• Jeff Bezos: $249 billion
• Mark Zuckerberg: $224 billion
• Larry Ellison: $198 billion
• Bernard Arnault: $181 billion

In 2024 alone, Musk has added about $218 billion to his net worth, more than any other individual on the Bloomberg Billionaires Index, highlighting the extraordinary growth of his financial portfolio during this period.

Elon Musk Houses and Real Estate Properties

Elon Musk's real estate journey has been quite dynamic, characterised by significant purchases and sales. Here are the key points regarding his houses and properties:

• Selling All Properties: In 2020, Musk announced his intention to sell almost all of his physical possessions, including his real estate holdings, stating he would "own no house" as part of a commitment to focus on his work with Tesla and SpaceX.
• Hillsborough Estate: Musk owned a Mediterranean-style mansion in Hillsborough, California, purchased for $23 million in 2017. He sold it in November 2021 for $30 million. The estate features five bedrooms, a ballroom, and extensive gardens on 47 acres of land.
• Bel-Air Mansions: Musk previously owned four mansions in Bel-Air, Los Angeles, which he sold for a combined total of approximately $61.8 million in December 2020. His first purchase in Bel-Air was a mansion he bought for $17 million in 2012.
• Brentwood Property: Musk purchased a modern boomerang-shaped house in Brentwood for about $3.7 million in 2014 and sold it for $4 million in 2019.
• Unique Living Situation: After selling most of his properties, Musk reportedly lived in a tiny home near SpaceX's launch site in Boca Chica, Texas, valued at around $50,000.
• Current Holdings: Despite his vow to sell off most of his real estate, reports indicate that Musk still owns at least one property in Austin, Texas, where he has been residing since 2022.
• Real Estate Value: At the height of his property ownership, Musk's real estate portfolio was valued at approximately $137 million, showcasing his previous investment in high-value properties across California.

What Cars Does Elon Musk Own?

Billionaire Elon Musk owns many luxury and vintage cars. Below is the list of all the cars he possesses. 

Does Elon Musk have any or do charities?

Elon Musk presides over The Musk Foundation, whose stated goals are to promote research, development, and lobbying, as well as to aid in scientific and engineering education initiatives.

Nearly half of the foundation's $25 million in direct donations to nonprofits from 2002 to 2018 went to Musk's OpenAI, which was a non-profit at the time. The foundation has donated more than 350 times since 2002. 

In 2021, the billionaire gave $55 million to the St Jude Children's Research Hospital in Memphis at that time, and then $54 million to the X Award Foundation. 

Some Interesting Facts and Quotes of Elon Musk

Interesting facts:

• At the age of 12, Elon Musk made and sold a video game to a magazine. PC and Office Technology magazine purchased the space combat game "Blastar" for $500. 
• Musk also had a job with the video game start-up Rocket Science. 
• Elon Musk owns Wet Nellie, a James Bond custom automobile. The Wet Nellie, seen in the film The Spy Who Loved Me, is a specially constructed Lotus Espirit submersible automobile.
• The billionaire has been featured in the animated sitcom “The Simpsons” in the episode  "The Musk Who Fell to Earth."

Quotes:

• "If you get up in the morning and think the future is going to be better, it is a bright day. Otherwise, it's not."
• "There have to be reasons that you get up in the morning and you want to live. Why do you want to live? What's the point? What inspires you? What do you love about the future? If the future does not include being out there among the stars and being a multi-planet species, I find that incredibly depressing."
• "Persistence is very important. You should not give up unless you are forced to give up."
• "The first step is to establish that something is possible; then probability will occur."
• “I think it is possible for ordinary people to choose to be extraordinary.”

Musk has faced controversy and criticism over the years, including for his management style, public statements, and his involvement in various lawsuits. However, his innovative ideas and ambitious plans for the future have made him a controversial yet influential figure, not only in the tech industry but in the world.

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