getty 489769706 200013332000928069 437741 - Here is How Tesla CEO Elon Musk Spends His $72 Billion
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Here is How Tesla CEO Elon Musk Spends His $72 Billion

Ranging from Tesla to SpaceX, Elon Musk has sort of become a household name when talking about some high-end tech companies. With a net worth of over $20 billion one might wonder, where exactly does his money come from, and where does it all go?

Elon Musk Humble beginnings

Well in a very short while we are going to be telling you where the Tesla CEO gets his money and where he pours them all.

Elon Musk grew up in South Africa where he taught himself how to write code. At just 12-years old while his mates where busy playing video games and thinking of good grades, Musk sold his first source code for $500.

At 24, due to his affinity for technology, Musk and his brother Kimbal created Zip2 with $28,000 they got from their dad. What Zip2 does is it provides a business directory that you could run a search on, just like a digital version of the yellow pages with maps.

Fast-forwad to four years later Musk and his brother sold Zip2 for a whooping $307 million. He went on to take his own share of the money to cofound an online-banking service called X.com.

X.com later ended up being PayPal through merger, with Elon Musk owning lots of share in the company. eBay later acquired PayPal for a massive $1.5 billion, earning Musk $180 million from the sale.

It was after the acquisition of PayPal that Musk went on to found his own space-exploration company which we all now know as SpaceX

. According to Musk, the sole aim of SpaceX is to “enable humans become a spacefaring civilization and a multi-planet species by building a self-sustaining city on Mars.”

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Right now SpaceX is valued at a mind blowing $33.3 billion. Elon Musk is also the largest individual shareholder at the company, owning 54% stake.

Like that wasn’t enough, he went on to establish an automaker and energy company Tesla. In 2010 Tesla went public with a mind blowing market cap of $2.2 billion. Just two years after that Musk found his way into the list Forbes richest richest.

Now you know a thing or two of how the billionaire makes his money, let get down to how and what he spends this money on.

Elon Musk owns a $70 million real-estate portfolio, a $17 million mansion which comes with a two-story library, a home theatre, a gym and massive wine cellar.

Talking about his car collection the Tesla CEO owns quite some interesting toys which includes a $920,000 Lotus Espirit submarine which was used in the “James Bond” movie, a Jaguar E-Type 1 Roadser and a Ford Model T.

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Musk has been known to be a sort of workaholic which is not quite surprising because most of his money goes back into his company.

That being said, he is also a huge contributor when it comes to donations, one of which is the $10 million he donated to the Future of Life Institute for regulating artificial intelligence.

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Emmanuel
Hello there I'm a tech-inclined geek, and I've always been a huge fan when it comes to anything tech, so I decided to share my knowledge with the online community and also share some of the latest buzzing news in the tech biosphere. i am dedicated to providing you guys with the best news updates. email: [email protected]
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