Bloomberg Billionaires Index

View profiles for each of the world’s 500 richest people, see the biggest movers, and compare fortunes or track returns.

# 1 Elon Musk $250B

Random fact: SpaceX has over 1,900 satellites launched as part of its Starlink service.

Overview

Musk is the chief executive of Tesla, the world's most valuable carmaker. The Austin, Texas-based company sells electric vehicles and home solar batteries. Musk's also the chief executive of SpaceX, a rocket manufacturer tapped by NASA to resupply the space station, and has a stake in social networking company Twitter.

As of :
Last change +$4.70B ( +1.9%)
YTD change -$20.4B ( -7.5%)
Biggest asset TSLA US Equity
Country / Region United States
Age 51
Industry Technology
View net worth over:   Max 1 year 1 quarter 1 month 1 week

Relative Value

Elon Musk's net worth of $250B can buy ...

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troy ounces of gold
0
barrels of crude oil

... and is equivalent to ...

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of the GDP of the United States
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of the total wealth of the 500 richest people in the world
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of the top 100 U.S. college endowments
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of the top 200 U.S. executives’ total awarded compensation
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of U.S. existing home sales
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times the median U.S. household income

Latest News

Net Worth Summary

Cash
Private asset
Public asset
Misc. liabilities
Confidence rating:

Musk is CEO of publicly traded Tesla, which is the world's most valuable carmaker, and closely held rocket business SpaceX, which counts the US National Aeronautics and Space Administration as a client. 

Musk owns about 15% of Tesla, according to an August 2022 regulatory filing.

He also holds about 92.9 million exercisable options to buy Tesla shares, according to a Bloomberg analysis, which are included at their net value.

SpaceX is valued using a June 2022 funding round that valued the company at about $125 billion. A 2020 filing showed Musk owned 47% of the closely held company through a trust. Bloomberg's analysis assumes that his stake has been diluted to about 44% in subsequent rounds. The value is reduced by 15% to account for typical discounts that shares in unicorns attract on the secondary market.

He also owns about 9% of Twitter, a stake he began to acquire in February 2022. In April 2022, Twitter's board agreed to support an offer from Musk for the remainder of the company, which needs to be approved by shareholders. In July 2022, he sought to back out of the agreement.

The value of his cash holdings includes proceeds from his insider transactions and is adjusted to reflect taxes, market performance, and charitable giving.

About half of Musk's Tesla shares were pledged as collateral to secure personal indebtedness, according to the company's 2022 proxy statement. The maximum loan allowable under this arrangement could be no more than 25% of the value of those shares, according to the filing, and 25% of the pledged shares have been deducted from his holding to account for the credit line. Musk said in 2019 that some of his SpaceX shares were also pledged, without providing further details. A liability of $6.4 billion is included in the analysis to reflect calculated pledges of SpaceX shares.

His investment in tunneling venture The Boring Co. is valued based on an April 2022 funding round.

Biography

Birthdate: 6/28/1971
Family: Single, 9 children
Education: University of Pennsylvania, Wharton School of the University of Pennsylvania

Born in South Africa to an engineer father and nutritionist mother, Musk left home as a 17-year-old for college in Canada, in part to avoid serving in the apartheid-era South African army. After graduating from the University of Pennsylvania with degrees in physics and economics, he enrolled at Stanford University. He dropped out after his first few days to pursue his three main areas of interest: the Internet, clean energy and space.

He created an online publishing platform called Zip2 in 1995 and sold it four years later for more than $300 million. He reinvested some of the proceeds to start X.com, an online payment system. He would merge that with what eventually became PayPal, the e-commerce site that was ultimately sold to eBay for $1.5 billion in 2002.

His next project: SpaceX, a closely held rocket company that was tapped by NASA to take over space shuttle's role of resupplying the International Space Station. A year later, he co-founded Tesla, the company that produced the world's first all-electric, zero-emission sports car in 2010. In the same year the company sold shares in a public offering.

His third company, SolarCity, was a provider of solar power systems. SolarCity sold shares in a public offering in 2012 and was bought by Tesla on Nov. 21, 2016.

Musk, who has said he intends to retire on planet Mars, joined Warren Buffett's Giving Pledge in April 2012.

Tesla became the world's most valuable carmaker in July 2020 and further gains led to Musk becoming the world's richest person in January 2021. He announced in October 2021 that Tesla would move its headquarters from Palo Alto, California to Austin, Texas.

In April 2022 Musk revealed he had purchased a stake in social-media company Twitter Inc. Its board eventually agreed to recommend Musk's offer to purchase the remainder of the company.

Milestones
  • 1971 Elon Musk is born in Pretoria, South Africa.
  • 1981 Buys first computer at age 10.
  • 1983 Creates and sells his first commercial software game, Blastar.
  • 1999 Develops an online payment system called X.com.
  • 2000 Merges X.com with PayPal's parent company, Cofinity.
  • 2002 PayPal acquired by eBay for $1.5 billion.
  • 2002 Establishes SpaceX in a former airplane hangar near LAX.
  • 2003 Begins designing the all-electric Tesla Roadster.
  • 2008 SpaceX delivers its first satellite into space.
  • 2010 Tesla Motors begins trading on the NASDAQ stock exchange.