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Owning $ 30.2 billion, how does Elon Musk make and spend money?

Growing up in South Africa, Elon Musk taught himself programming and selling the source code for his first video game for $ 500 when he was 12 years old. Before his 18th birthday, Musk moved to Canada and worked as hard as cutting wood, shoveling seeds and cleaning boilers in a timber workshop with an income of $ 18 an hour – an impressive salary in 1989.

In 1990, as a freshman at Queens University, Musk made money selling computers and accessories to other students. Two years later, he moved to the University of Pennsylvania on a partial scholarship. To pay the remaining tuition, he and a friend turned his rented house into a bar with the price of $ 5 / person. (Photo: Flickr)

Musk holds a bachelor’s degree in physics and economics from the Wharton School at the University of Pennsylvania and transferred to Stanford for his doctorate. However, he dropped out of his doctorate program to start his Zip2 software startup with a $ 28,000 loan from his father. (Image: Reuters)

In 1999, it sold Zip for $ 307 million, helping Musk pocket $ 22 million. He invested half of this to co-founded X.com – an online banking service. The company quickly merged with rival to become PayPal and Musk is the largest shareholder. In 2002, eBay acquired PayPal and Musk left for $ 180 million. (Image: Reuters)

Owning 30 2 billion how does Elon Musk make and spend money | ICT News

After leaving PayPal, he focused on space exploration company SpaceX. A few years later, he co-founded electric car company Tesla and later SolarCity – a supplier of solar systems. In 2012, Musk joined the Forbes billionaire club with a net worth of $ 2 billion. According to Bloomberg estimates, Tesla CEO currently owns assets of $ 30.2 billion. (Image: Reuters)

Owning 30 2 billion how does Elon Musk make and spend money | ICT News

The billionaire started buying real estate at Bel-Air in late 2012 with a mansion on 0.67 hectares of land costing $ 17 million. With an area of ​​nearly 1,900 m2, this mansion has a 2-storey library, indoor cinema, gym and wine cellar 1,000 bottles. In total, Musk spent over $ 70 million to own Bel-Air real estate. (Image: Google Maps)

Owning 30 2 billion how does Elon Musk make and spend money | ICT News

As the head of one of the world’s largest electric car companies, it’s not surprising Musk owns many cars. In 2013, he paid $ 920,000 to buy the Lotus Esprit used in James Bond movies at an auction. Besides Tesla electric cars, Musk also bought two Ford Model T gasoline cars and Jaguar E-Type Series 1 Roadster. (Photo: AP)

Owning 30 2 billion how does Elon Musk make and spend money | ICT News

Despite his wealth, Elon Musk rarely takes vacations or often has trouble on holidays. In 2015, he said he only took two weeks off right after starting SpaceX 12 years earlier. In August 2018, Musk told the New York Times that he worked 120 hours a week. He also admitted to “staying awake many nights” at Tesla’s Nevada plant to rewrite the software during the sprint phase of Model 3 production.

Owning 30 2 billion how does Elon Musk make and spend money | ICT News

Not only does Tesla spend a lot of time and money, Musk also invests a lot of time, energy and resources into Space X. The company has raised more than $ 2.2 billion to develop, manufacture and launch. Starlink rocket – in an attempt to cover super-fast broadband internet on earth and prototype a Big Falcon Rocket (BFR) rocket – a recycled spacecraft that sends people to Mars. As of June 2019, the company is valued at $ 33.3 billion. (Photo: AP)

Owning 30 2 billion how does Elon Musk make and spend money | ICT News

The 48-year-old billionaire also invested in Boring Company – the company he founded in 2016 to develop and build tunnels under Los Angeles to reduce traffic congestion. In late 2018, the company launched its first test tunnel. According to the New York Times, Boring Company raised $ 112 million in 2018, of which more than 90% came from Musk. (Image: Reuters)

Owning 30 2 billion how does Elon Musk make and spend money | ICT News

Like many billionaires, Elon Musk signed up for Giving Pledge, pledging to donate most of his wealth to charity. He also donated a lot of money for activities that interest him, such as $ 10 million to the Future of Life Institute in artificial intelligence. (Image: Reuters)

Owning 30 2 billion how does Elon Musk make and spend money | ICT News

This businessman has a hobby of listening to music, playing games and reading. “Going out with kids, meeting friends, doing normal things. Sometimes ‘crazy’ a bit on Twitter but my time is still devoted to my work,” Musk said. Getty Images)

[ Æsir Tales ]
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