Elon Musk reportedly earns more than $22,500 every minute. Under consideration of his net worth of $253 billion, it follows that he makes close to $375 per second.
Elon Musk, the self-proclaimed richest man in the world, is the tycoon behind SpaceX and Tesla. In January 2021, a native of South Africa deposed Amazon's chief executive Jeff Bezos for the first time. Since then, when the value of Tesla's shares fluctuated, he occasionally lost the top rank but has subsequently rebounded.
Musk most certainly made $23 billion during the first quarter of 2022, which included 69 weekdays; it is assumed that he received pay over weekends and holidays. According to these hypotheses, he would be making $333.33 million every day. Since the NYSE is inactive on the weekends, use a five-day workweek assumption for determining daily salaries.
Musk officially doesn't make a wage, despite his rising net worth. The major shareholders and CEO of Tesla do not receive a regular salary; rather, payments are made only when the company's financial and market valuation goals are met.
How did Elon Musk's net worth skyrocketed?
Although he has always been extremely wealthy, his wealth has dramatically expanded since 2018. According to Forbes, his net worth was $19.9 billion just a few years ago. Prior to surging in 2021, his net worth was comparatively stable for the next two years, reaching $22.3 billion in 2019 and $24.6 billion in 2020. His net worth rose to $151 billion prior to increasing even more to its present level.
Naturally, this resulted in the Tesla CEO earning some extremely hefty salaries. Musk, for instance, made $37 billion on October 25, 2021. His boost in net worth was related to a great day for Tesla shares, which witnessed a roughly 13% price hike. In order to put this into perspective, as of October 24, 2022, Musk's net worth had climbed more than the asset values of Dell Technologies ($27.23 billion), Deutsche Bank ($18.29 billion), and Sun Life Financial ($24.11 billion) combined in a single day.
What are the businesses behind Elon Musk’s fortune?
Tesla was established in 2003 and produces both sustainable energy production and storage solutions. As per Forbes, Musk possesses around 21% of the firm; however, more than 50% of that amount is now used as collateral for a loan. Tesla shares have increased by 823% over the last five years. On October 10, 2022, it traded at $222.96 per share.
In 2002, Musk co-founded SpaceX, which he currently leads as CEO. According to the aerospace website of the company, there have been 123 total re-flights, 147 total landings, and 185 total launches since its founding. Despite the fact that SpaceX is privately held, current shareholders estimate the company's worth to be above $100 billion after a share sale in October 2021. According to CNBC, the corporation has a deal with new and current investors to transfer up to $755 million worth of insider shares at a price of $560 per share.
However, given that it is allegedly receiving a fresh round of money, the company's value is probably increasing. Its value will rise to $127 billion as a result, per a CNBC article from May 2022.
Did Elon Musk have some issues with acquiring Twitter?
Twitter might soon join Musk's portfolio of businesses. He made a $44 billion purchase bid for the business in April, advancing the process to a vote on June 21, 2022. According to a filing with the Securities and Exchange Commission, Twitter's board of directors recommended that shareholders accept the purchase.
Although there has been considerable back and forth recently between Elon Musk and Twitter, with Musk accusing Twitter of not revealing the amount of bot users on the network and the subject eventually being taken to court, Musk has now once again said that he will acquire the network. If the transaction is completed, his net worth may increase even more.
FAQs
Q. Is Elon Musk the wealthiest person on earth?
A. According to a 2022 Forbes article, Musk earned $253 billion, or roughly $650 million every day. Accordingly, Elon Musk makes more money every day than the GDP of certain tiny nations, and more than the majority of individuals will ever see in their lifetimes.
Q. How much does Elon Musk make per hour?
A. According to his net worth, Elon Musk gains almost $81.25 million in wealth per hour. This implies that it would take nearly 3,000 years to earn Elon Musk's hourly wage.
Q. What is the salary of Elon Musk as the CEO?
A. The pay of Elon Musk is a little bit more than that of the ordinary worker. In particular, Tesla does not pay him a salary. He gets compensated with company stock. This implies that the performance of Tesla's stock price significantly influences his compensation.
