Elon Musk, who is the CEO of Tesla and SpaceX is very much known for their revolutionary ideas and ambitious visions. He has also been at the forefront of a lot of technological advancements over the years and has built a reputation as an innovative, determined, and driven leader.
In this article, I will be discussing how much does Elon Musk make a second and more. Keep reading till the end of the article to find out more information about the same!
How Much Money Does Elon Musk Make Per Second?
Elon Musk earns a year’s worth of salary in just one minute. For him to reach a nine-figure income, it takes him a single week. However, a majority of the wealth of Elon Musk is tied up to his companies which makes his financial situation a bit complicated. He depends on a lot of primary stock holdings for earning income, unlike the other cash salaries and traditional bonuses.
Even though there are a lot of strict regulations that require Musk to disclose any of his “stock selling” plans much in advance. This leads to implications for public confidence and causes the companies to influence them.
Musk’s Business Ventures
Elon Musk has generated a ton of wealth primarily through all of the companies that he has established. He also accumulates a lot of passive income from his other business ventures as well. Here is an overview of every kind of business that Elon Musk owns and collects revenue from:
SpaceX
Back in 2002, Musk founded the Space Exploration Technologies Corporation which is also known as SpaceX. The main mission of their company is to revolutionize space tech, including developing spacecrafts that have the capacity of being able to carry humans to Mars and other similar places.
NASA also awarded SpaceX a very beneficial contract in 2006. Later in the year 2008, SpaceX launched the Falcon 1, which was the first-ever liquid propellant private rocket that reached orbit.
In the year 2010, the spacecraft of SpaceX named Dragon successfully reached the International Space Station (ISS). Afterwards in the year 2012, they got their second contract from NASA for aiding with the shuttle crew members between the ISS and Earth.
The SpaceX company has also deeply involved itself in NASA’s Artemis program which seeks out to place humans on Mars and Moon.
Keep reading till the end to find out even more about how much does Elon Musk make a second!
Tesla Motors
Even though Musk was not a founding member of Tesla, he did lead an early financing round back in 2004. In 2008, Musk went from being just a Board member of Tesla to being the CEO of it.
On 28th June 2010, Tesla launched an Initial Public Offering (IPO) on NASDAQ, with their shares and common stocks which were originally known as the public with $17 per share. The price of the shares then rose to over $400.
The Boring Company
Musk founded both the infrastructure and tunnel company after which they termed it the Boring Company in 2017. This company was established with the mission of aiding traffic issues while also saving on the costs of tunneling and making production more efficient.
In March 2019, they built a tunnel and then named it the LVCC (Las Vegas Convention Center). The tunnel features three stations in total and a pedestrian section as well. They officially inaugurated this loop in 2021.
Later on, they also built similar projects in the regions of Hawthorne, California, and Las Vegas.
Tip: Elon Musk net worth is $195Bn and it continues to grow every year.
PayPal
In 1999, Musk founded X.com which was an online email payment and financial services company. Then a year later they merged “X.com” with “Confinity” in 2001 and named it PayPal.
On 3rd October 2002, PayPal was purchased by eBay for a total amount of $1.5Bn. At the time of sale, Musk owned a total share of 7,109,989 of PayPal stocks which made him the largest shareholder with a stake of 11.07%.
DeepMind Technologies
The AI company of DeepMind Technologies was launched in the late 2010s with Musk becoming one of the primary angel investors. In January (2014), GOOGLE (Google) announced that they had acquired the company for an undisclosed amount.
Musk also worried a lot about AI overtaking humans – which is what fueled his decision to invest in DeepMind to be able to stay in the loop regarding the efficiency of AI and how such tech can be developed.
In 2023, Google combined two of its AI divisions DeepMind and Brain into a wholly new division called the Google DeepMind. The platform of Google then made use of their core products like Search, Gmail, and YouTube to make developments and improvements in the field of AI.
To Wrap It Up!
All of his wealth and financial decisions are further justified by his substantial investments and wealth growth. All of which has garnered a great amount of interest and debate. As a result of which, his net worth even continues to grow more per year.
Thank you for reading up till the end of the article. I hope you found the information pertaining to “How much does Elon Musk make a second” to be useful.
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