ELON Musk spent $44 billion on Twitter on Monday — pocket money for a man wealthier than most countries.
With a net worth of $270 billion (£212 billion), the 50-year-old’s rise to become the world’s richest man has been astronomical.
That’s fitting considering Musk is the CEO of SpaceX, a California rocket manufacturer he founded in 2002.
His stake in the $100 billion company, and counting, is just a small piece of the puzzle when it comes to his net worth.
Much of that is tied up in Musk’s 17% stake in Tesla, making him the largest single shareholder.
Musk is CEO of the electric-car maker, and his stock price’s recent jumps have coincided with his Climb up the billionaire rankings.
Tesla is currently one of the top ten most valuable companies in the world, valued at just over $1 trillion.
Musk also runs brain-tech startup Neuralink and The Boring Company, which aims to dig networks of traffic-calming tunnels under cities.
How Musk’s net worth has changed over time
Musk grew up in South Africa and then immigrated to Canada at the age of 17 to avoid conscription.
In the USA he ended up as a transfer student at the University of Pennsylvania, where he studied physics and economics.
He rose to prominence in Silicon Valley as a co-founder of the online payment platform X.com, which later became PayPal.
When eBay bought PayPal for $1.5 billion in 2002
He used the windfall to build Tesla and SpaceX, and from there the only way was up.
Musk made the Forbes billionaires list for the first time 2012 when his net worth was listed at $2 billion.
By 2020, he had risen to No. 35 in the rankings with a net worth of nearly $25 billion.
From here, things got silly as Tesla’s stock price skyrocketed during the Covid-19 pandemic.
In January 2021, Musk overtook Amazon founder Jeff Bezos to become the richest person in the world.
At the time, he was valued at just over $200 billion — only the third person to reach that mark.
Fast forward to April 2022, and Musk’s net worth is now a whopping $270 billion.
That’s equivalent to the annual GDP of a small-to-midsize country, meaning Musk is wealthier than nations including Pakistan.
It’s now clear how Musk’s $44 billion Twitter acquisition will affect his position in the billionaire rankings.
The billionaire’s bid reportedly includes $21 billion of his own money. Much of the rest is covered by loans tied to its Tesla stock.
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https://www.thesun.ie/tech/8708014/elon-musks-net-worth-over-time/ How Elon Musk’s net worth has skyrocketed over time — including the “6-fold jump” in just two years