What is Elon Musk’s net worth? Find out the wealth of the Tesla, SpaceX CEO

Musk also bought Twitter for $44 billion in October 2022, serving as its CEO until he stepped down in early June 2023.

The stock is known to be volatile and it’s had its ups and downs since then.

Musk’s net worth declined by $15 billion after Tesla’s “We, Robot” day on October 10 when it unveiled its highly anticipated robotaxi lineup. While the event turned heads with dancing robots and sleek autonomous vehicles offering rides to guests, it left investors with question marks surrounding the economics of the ride-hailing service.

Following a big earnings beat later that month, Tesla’s stock surged by 22%, leading Musk’s net worth to increase by about $30 billion. The morning of Trump’s reelection on November 6, which Musk heavily campaigned for, Tesla’s stock was up about 15% to $289.37 per share after the market opened. In late November, Musk broke his net worth record of about $340 billion, which had stood for over three years.

Following an insider share sale at SpaceX, which boosted the startup to a $350 billion valuation, Musk’s wealth surged again in December by about $50 million in one day, making Musk the first billionaire to reach the $400 billion mark.

His net worth has fallen by over $70 billion since then, although it’s still up from pre-election. In the months after its election highs, Tesla’s stock dropped by over 50% following a number of factors, including a vehicle sales slump, a rising Tesla boycott movement, and Musk’s stint in the US government, which some investors felt took him away from his day-in-day-out Tesla CEO duties.

Tesla’s stock rose back up following the CEO taking a step back from his role in the Department of Government Efficiency. However, it continues to have big swings. Musk had one of his single-day highest net worth losses in early June following a public spat on social media with the President, in which Trump floated the idea of having his government contracts revoked, and Musk repeatedly criticized Trump’s “Big Beautiful Bill.”

The automaker has since met its promised June deadline for the robotaxi, and shares rose more than 6.5% the following Monday after the limited launch in Austin.

Musk’s wealth is largely dependent on Tesla shares. Though he takes no salary from Tesla, he’s awarded stock options when the company hits challenging performance metrics.

“Elon will receive no guaranteed compensation of any kind — no salary, no cash bonuses, and no equity that vests simply by the passage of time,” Tesla said in 2018 when the company announced a 10-year performance award for Musk. “Instead, Elon’s only compensation will be a 100% at-risk performance award, which ensures that he will be compensated only if Tesla and all of its shareholders do extraordinarily well.”

Investors had initially approved the $55 billion compensation plan in 2018, but a Delaware judge voided it last January on the grounds that Musk had undue influence over the package and its approval due to close ties with several board members.

At its annual shareholder meeting last June, investors voted to approve Musk’s pay package. However, the judge upheld the original ruling, and the company has since said it plans to appeal that decision.

A large part of Musk’s net worth comes from Tesla shares, while roughly over 20% comes from SpaceX stock.

The rest of his wealth comes from shares in Twitter and The Boring Company, as well as other miscellaneous liabilities.

Read the original article on Business Insider

Musk also bought Twitter for $44 billion in October 2022, serving as its CEO until he stepped down in early June 2023.

The stock is known to be volatile and it’s had its ups and downs since then.

Musk’s net worth declined by $15 billion after Tesla’s “We, Robot” day on October 10 when it unveiled its highly anticipated robotaxi lineup. While the event turned heads with dancing robots and sleek autonomous vehicles offering rides to guests, it left investors with question marks surrounding the economics of the ride-hailing service.

Following a big earnings beat later that month, Tesla’s stock surged by 22%, leading Musk’s net worth to increase by about $30 billion. The morning of Trump’s reelection on November 6, which Musk heavily campaigned for, Tesla’s stock was up about 15% to $289.37 per share after the market opened. In late November, Musk broke his net worth record of about $340 billion, which had stood for over three years.

Following an insider share sale at SpaceX, which boosted the startup to a $350 billion valuation, Musk’s wealth surged again in December by about $50 million in one day, making Musk the first billionaire to reach the $400 billion mark.

His net worth has fallen by over $70 billion since then, although it’s still up from pre-election. In the months after its election highs, Tesla’s stock dropped by over 50% following a number of factors, including a vehicle sales slump, a rising Tesla boycott movement, and Musk’s stint in the US government, which some investors felt took him away from his day-in-day-out Tesla CEO duties.

Tesla’s stock rose back up following the CEO taking a step back from his role in the Department of Government Efficiency. However, it continues to have big swings. Musk had one of his single-day highest net worth losses in early June following a public spat on social media with the President, in which Trump floated the idea of having his government contracts revoked, and Musk repeatedly criticized Trump’s “Big Beautiful Bill.”

The automaker has since met its promised June deadline for the robotaxi, and shares rose more than 6.5% the following Monday after the limited launch in Austin.

Musk’s wealth is largely dependent on Tesla shares. Though he takes no salary from Tesla, he’s awarded stock options when the company hits challenging performance metrics.

“Elon will receive no guaranteed compensation of any kind — no salary, no cash bonuses, and no equity that vests simply by the passage of time,” Tesla said in 2018 when the company announced a 10-year performance award for Musk. “Instead, Elon’s only compensation will be a 100% at-risk performance award, which ensures that he will be compensated only if Tesla and all of its shareholders do extraordinarily well.”

Investors had initially approved the $55 billion compensation plan in 2018, but a Delaware judge voided it last January on the grounds that Musk had undue influence over the package and its approval due to close ties with several board members.

At its annual shareholder meeting last June, investors voted to approve Musk’s pay package. However, the judge upheld the original ruling, and the company has since said it plans to appeal that decision.

A large part of Musk’s net worth comes from Tesla shares, while roughly over 20% comes from SpaceX stock.

The rest of his wealth comes from shares in Twitter and The Boring Company, as well as other miscellaneous liabilities.

Read the original article on Business Insider