Elon Musk, the co-founder and CEO of Tesla, is the richest person in the world with a $269 billion net worth.
It's also nearly $100 billion lower than November, when Musk's net worth peaked at $335 billion. The world's second-richest person, Amazon's founder, Jeff Bezos, has lost about $25 billion in 2022.
Age: 50
Residence: Texas
Co-founder and CEO: Tesla (TSLA)
Net Worth: $269 billion
Tesla Ownership Stake: 18% ($186 billion)
Other Assets: Space Exploration Technologies ($40.3 billion private assets), $4 billion in cash.
Elon Musk has had his hands in several different companies over the years. Originally enrolled at Stanford University, Musk deferred his attendance to launch Zip2, one of the earliest online navigation services. A portion of the proceeds from this endeavor was then reinvested to create X.com, an online payment system that later became PayPal. While both of these systems were eventually sold to other companies, Musk has maintained his status as CEO and lead designer of his third project, Space Exploration Technologies (SpaceX), which aims to make space exploration more affordable.
In 2004, Musk became a major funder of Tesla Motors (now Tesla), which led to him being retroactively declared a co-founder and his current position as CEO of the electric vehicle company.9 In addition to its line of electric automobiles—which include sedans, sport utility vehicles (SUVs), and the "Cybertruck" announced in 2019—Tesla also produces energy storage devices, automobile accessories, merchandise, and, through its acquisition of SolarCity in 2016, solar power systems.1011
In 2020, Tesla’s stock price experienced an astronomical surge—rising over 740%, helping push Musk to the top spot among billionaires. In December 2020, Tesla joined the S&P 500 that same month, the largest company added thus far.
In 2016, Musk founded two more companies, Neuralink and The Boring Company, with him serving as the CEO of the former. Neuralink is developing brain-machine interface devices to help individuals suffering from paralysis and potentially allow users to mentally interact with their computers and mobile devices.
The Boring Company, meanwhile, develops boring machines for drilling tunnels for underground public transportation systems, which would mitigate traffic congestion in major cities. It also (briefly) sold a handheld flamethrower.
On Oct. 25, 2021, shares of Tesla spiked 12.7% and surpassed a $1 trillion market cap after car rental company Hertz announced its plan to order 100,000 of the automaker's electric vehicles. As a result, Tesla CEO Elon Musk's fortune grew by over $36 billion in a single day. Thanks to the surge in Tesla shares and a deal with investors in October 2021 that boosted the valuation of SpaceX, Musk's lead as the richest person in the world continues to grow. As of Jan. 19, 2021, Musk's net worth had grown by $72 billion over the last year.
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