BBC business reporter, New York Elon Musk, the world's richest person, has tweeted he will pay $11bn (8.3bn) in tax for this year. That's an increase of almost $10 billion from the previous day, thanks Musk, world's 10 richest men Want to bookmark your favourite articles and stories to read or reference later? Tech moguls are now so rich that its not unusual to see shocking comparisons that demonstrate exactly how egregious their salaries are. Ellis believes Solomon is an amalgamation of several Egyptian pharaohs, perhaps most specifically a pharaoh called Shoshenq I, who was the ruler of Egypt and Israel in the 10th century BC. That means Elon Musk is $5 billion (plus $1) away from being the richest person ever. Coronavirus has widened America's vast racial wealth gap, study finds, Original reporting and incisive analysis, direct from the Guardian every morning, 2023 Guardian News & Media Limited or its affiliated companies. Bitcoin Has a Major Significant Here's What It Means, 10 Online Side Hustles to Boost Your Income, 10 Tips to Choose the Right Mutual Fund for Your Investment Goals. On July 13, 2020 when Elon's net worth hit $80 billion for the The coronavirus pandemic has meant Amazon benefited from stronger demand for both its online store and cloud computing services. He takes the top spot from Amazon founder Jeff Bezos, who had held it since 2017. Today you can find estimates that peg Rockefeller's inflation-adjusted net worth as high as $400 billion. 2018 Herald International Research Journals. Calculated in another way, if Musks net worth was distributed evenly among all 328 million citizens in the US, each person would receive roughly $600 the same amount the US government handed out as a stimulus check during the pandemic. The second factor was an increased valuation of SpaceX which was officially confirmed on August 18, 2020. to net worth during pandemic as He was most likely in Texas, where his company SpaceX was preparing for a rocket launch. It's equally difficult to adjust that fortune to a modern equivalent. Elon Musk He dove directly into his career plans, dropping out of Stanford two days after the first semester began. Elon Musk loses $12.6 billion in a single day as Tesla shares tumble and SpaceX rocket explodes Last Updated: April 22, 2023 at 11:30 a.m. What happens to First Republic Bank's stock and deposits now? If some of Congress' more radical measures were enacted, that would have had a big impact on Mr Musk's tax liabilities, Mr Willens added. Teslas fortunes have largely driven Musks own net worth, which is now equivalent to the annual GDP of a small-to-medium sized country. Most populous nation: Should India rejoice or panic? Elon Musk Under the plan, tradable assets such as Tesla's stock in a billionaire's portfolio would be valued annually. If Musks wealth was ranked alongside the GDP of every country in the world, he would be the 50th richest country in the world, according to figures from the International Monetary Fund. He ended 2020 with a net worth of $170 billion. From changing its blue bird logo to Dogecoin to removing verification badges from several high-profile accounts to restoring some of them later, Twitter has seen a number of rapid changes lately. On Monday, Elon Musk ended the day with a net worth of $335 billion. 2023 BBC. Painfully, Sergey had long-been one of Musk's biggest supporters. Elon Musk has overtaken Jeff Bezos to become the worlds richest person, having seen his wealth rise from $25 billion to nearly $200bn in less than a year. 2023 BBC. On July 13, 2020 when Elon's net worth hit $80 billion for the first time, $15 billion came from SpaceX and $65 billion came from Tesla. Both CEOs have seen their wealth explode as shares of Amazon and Tesla have surged upward. Today, they are worth close to $900. He bought this house for $23.364 million in 2017. You should ask why I would want money. This article contains content provided by Twitter. Elon Musk Net Worth | Celebrity Net Worth to learn digital transformation! Elon Musk Net Worth. New Twitter feature: Elon Musk opens up earning opportunity for users, calls it a major win-win 2 min read. Dont have vacation homes or yachts or anything like that, he stated in a short Twitter thread republished from 2018. When the plan was forged, Tesla was worth around $50 billion. 100x Options Profit Calculator Read Next: Elon Musk's Net Worth Plummets $13B In A Day As Tesla Stock Slides. There are 12 total milestones based on $50 billion market cap increases. In Southern California he at one time owned six homes in the Los Angeles neighborhood of Bel-Air. As of my knowledge cutoff date of September 2021, Elon Musks net worth was estimated to be around $198 billion USD, according to Forbes. That's an increase of almost $10 billion from the previous day, thanks to a jump in Tesla shares on Thursday. In May 2020, Grimes and Elon welcomed a baby boy named X A-Xii. Here's how. With those numbers in mind, here's a statement that some people will find controversial: If Elon Musk's net worth increases by $5 billion + one dollar, he will be the richest person in history. On January 1, 2020, Elon's net worth was $28 billion. Since the start of the year, Musk has seen his wealth Elon ended 2022 with a fortune of $134 billion, a full $200 billion drop from a year prior. On Monday alone, Musk lost $8.6 billion as Tesla shares plunged 6.8% to $167.87 in New York trading. What Would It Take For Elon Musk To Become The World's First Trillionaire? Remember when Elizabeth Warren helped billionaires calculate how much they would pay under her ultra-millionaire tax proposals, and it was pointed out that under her plan, even after tax, Bill Gates would still be a billionaire 60 years from now? ET First Published: April 21, 2023 at 5:03 a.m. Wikipedia's list of the wealthiest historical figures places John D. Rockefeller at #1 with a wealth range of $318 $420 billion. But Elon Musks net worth has fallen a lot from the $340 billion peak he reached in November 2021. As for Elon Musk, he could pay my monthly rent after less than 30 minutes of work which makes you wonder why he violated Californias stay-at-home order to keep Teslas factory open, and why he sued local authorities after he was forced to shut it. On November 1st, 2021, when Tesla's market cap topped $1.2 trillion, Elon Musk's net worth was $335 billion. We can all understand how eager he must be to continue his work (particularly his pressing mission to, er, colonize Mars) but a global pandemic feels like a good moment for pause. 2023 Celebrity Net Worth / All Rights Reserved. A British historian named Ralph Ellis has been studying the legend of King Solomon for over thirty years. The tool uses Forbes and Americans for Tax Fairness (ATF) data to work out how An X.com acquisition the following year led to the creation of PayPal, as it is known today, and in 2002 PayPal was acquired by eBay for $1.5 billion in stock. Video, The secret mine that hid the Nazis' stolen treasure, Senator vows to sink key Biden spending plan, Explosion derails train in Russian border region, Russia launches missile attacks on Ukraine, Street piano confiscated as public 'break rules', Trump mistrial request denied in NY rape lawsuit, US rock band Aerosmith announce farewell tour, Banana artwork in Seoul museum eaten by visitor, Heavy drinkers told to leave India police force, Father tells how gunman opened fire on Texas home. His net worth tumbled $7.7 billion on Tuesday after Tesla shares had their steepest one-day loss since October.. Who is the richest person in the world? Jeff Bezos no ", My plan is to use the money to get humanity to Mars and preserve the light of consciousness. Start your Independent Premium subscription today. On January 8, 2021 Elon ended the week with a net worth of $210 billion after starting the week worth $170 billion. The bulk of Mr Musk's tax payment, to be made next year, will go to federal tax authorities, but the state of California, where Tesla and Mr Musk have been based until recently, will also claim a portion. It is the fact that Tesla's share price has increased more than seven-fold in the past year that has sent Elon Musk's fortune rocketing past that of Jeff Bezos. In a 2019 legal deposition, Musk explained that he actually is somewhat cash-poor and that 99% of his personal wealth is attributable to shares in Tesla and SpaceX. Jack Dorsey rues Elon Musk deal, says it all went south On November 17, 2020 Elon's net worth topped $100 billion for the first time. A year ago, his total net worth peaked at $340 billion. 1. In addition, the threat of regulation has meant Amazon's stock has not risen as high as it might otherwise have done. If Elon cashed out all of his stocks & assets today he would have approximately $217,000,000,000 (US Dollars) in his bank account. The plan called for Musk to receive up to $100 billion in stock options over a decade in 12-tranches. In his second day of testimony in a defamation trial, Elon Musk said he didn't know his own net worth, but estimated it may be $20 billion, including SpaceX and Tesla Know supply chain strategy with IIML COO Prog. According to the latest Forbes billionaires list, Musk is the new No. Next was Tesla Motors, an automobile company dedicated to producing affordable, mass-market electric cars. Elon Musk That same month SpaceX raided money at a $100 billion valuation. At this point Elon's net worth teetered around $300 billion for the first time. Mr Musk has been embroiled in a public debate on social media over how much tax he pays. In July 2022 it was reported that Elon Musk had an affair in December 2021 with the wife of Google co-founder Sergey Brin. Elon Musk is a billionaire Credit: AP:Associated Press What is Elon Musk's net worth? Mr Bezos has also seen his fortunes rise over the past year. Who is Elon Musk? The Tesla and SpaceX entrepreneur was pushed into the top slot after Using that number, Elon Musk is $5 billion (plus $1) away from being the richest person in modern history. He ended 2020 with a net worth of $170 billion. WebTo understand how rich billionaires really are, use this calculator | Elon Musk | The Guardian Jeff Bezos net worth of $144bn puts him on track to become the worlds first Daniel Ives, an analyst with Wedbush Securities wrote: "A Blue Senate is very bullish and a potential 'game changer' for Tesla and the overall electric vehicle sector, with a more green-driven agenda now certainly in the cards for the next few years.". Columbia University professor and tax expert, Robert Willens, said that was likely to be a fair comment from Mr Musk, who had made himself liable for "mind-boggling amounts of taxable income" in 2020, through exercising stock options that would otherwise have expired and been worthless. How rich is Elon Musk? His wealth in three charts | The Independent 1, with a net worth of $219 billion as of March 11, 2022 Musk was No. One of the biggest companies couldnt afford to keep it up? Oneto said. Elon Musk Powered and implemented by FactSet. All rights reserved. (Bezos has now ended that entitlement, despite the virus still raging across the US.). Ultimately, Musk hopes to transform humanity into a multi-planetary species by establishing a self-sufficient colony on Mars, while simultaneously solving some of the biggest challenges back on Earth, including climate change and the perceived threat from advanced artificial intelligence. For example, how do you calculate the modern-equivalent of William the Conqueror's net worth? If he did exist, there's definitely not any solid evidence that his fortune was actually large enough to make him the wealthiest human being of all time. Musk was worth $302 billion as of Thursday, according to the Bloomberg Billionaires Index. If he did not achieve any of the 12 tranches, he would have received zero compensation. Elon Musk made $25 billion Tuesday | CNN Business Still, Forbes real time billionaire tracker puts Musks net worth at $241 billion. The billionaire polymath is best known as the boss of electric car company Tesla and private rocket firm SpaceX, however he also heads brain-tech startup Neuralink and The Boring Company, which aims to solve traffic in cities by digging tunnel networks. Forget it, he said on Twitter. Elon Musk's personal wealth is now $222 billion, widening his gap as the richest person in the world according to Bloomberg's Billionaires Index. When provided, we also incorporate private tips and feedback received from the celebrities or their representatives. An older tweet pinned to the top of his feed offered further insight into his thoughts on personal wealth. We ask for your permission before anything is loaded, as they may be using cookies and other technologies. Jeff Bezos net worth of $144bn puts him on track to become the worlds first trillionaire by 2026. Oh, and that time we learned that Zuckerberg takes about two minutes to earn the average US yearly wage? Many of America's wealthiest citizens don't take a directly taxable salary. And of course 20 years ago another tech visionary was staring disaster in the face when the dot com bubble burst and big profits seemed a distant dream - but Jeff Bezos went on to make those who bet on Amazon very rich indeed. In August 2020 two important factors pushed Elon's net worth above $90 billion for the first time. The last time Twitter updated its privacy policy was in August 2021. He reportedly burned through all of his liquid cash from previous business sales to launch SpaceX. Musk would be liable for perhaps a one-time $50 billion tax hit under the Democratic proposal. At his peak, Musk was worth $340 billion, according to the Bloomberg Billionaires Index. Mind you, his many fans will point out that the somewhat eccentric tycoon has constantly confounded the sceptics who bet that he would go bust. Or a guy in 2021 who has $300+ billion? Imagine as much gold as you think a human being could possess and double it. Elon Musk The company a text messaging company says it uses data on salary, bonuses, earnings from equity and other forms of compensation from 2019 SEC filings to let you calculate just how quickly people like Mark Zuckerberg of Facebook, Susan Wojcicki of YouTube and Reed Hastings of Netflix could pay off all of your expenses. From that point on, Elon received another of the tranches every time the company increases in market cap by $50 billion. Then again, when you have so much money, it may just not matter: Musks net-worth is almost 20 times the entire budget of the county he sued. WebOn Monday, Elon Musk ended the day with a net worth of $335 billion. Musk bought his first computer at the age of 10 and taught himself how to program. At the time of the lawsuit Musk had $500 million worth of debt with the majority owed to Morgan Stanley and Goldman Sachs. On that day he was $54 billion away from Jeff Bezos' $184 billion net worth and his net worth had officially increased $100 billion since January 1, 2020. Elon Musk Each new project has been financed, at least in part, by funds generated from previous business successes, with each new effort becoming ever more ambitious. Earlier this week, Democratic Senator Elizabeth Warren tweeted that Mr Musk should stop "freeloading off everyone else". When we published our first estimate of Mansa Musa's net worth in 2012, we pegged his modern-equivalent fortune at $400 billion. At a valuation of $46 billion, Elon's 48% stake adds $22 billion in pre-tax wealth to Elon's net worth. Read Next: Elon Musk's Net Worth Plummets $13B In A Day As Tesla Stock Slides Photo: Shutterstock Rejuvenate Your Portfolio With Options! This financial tool allows one to resolve their queries related to Public Provident Fund account. He has also been romantically involved with actress Amber Heard and Canadian musician Grimes. Elon hit every single milestone and therefore qualified to receive all $100 billion from the bonus plan. Elon Musk has become the world's richest person, as his net worth crossed $185bn (136bn). Below are the 10 richest people in the world, according to the Bloomberg Billionaires Index. That occurred in November 2021, when Tesla's stock price hit a record Twitter co-founder Jack Dorsey once a supporter of Elon Musks $44 billion acquisition of the site is now Physics Wallah Net Worth: From Teacher to Founder Musk also donates periodically to charity, putting out a call on Twitter this week for ideas on ways to donate money that really make a difference. The BBC is not responsible for the content of external sites. That would easily secure his place as the richest human who ever lived. Why is that statement controversial? While we work diligently to ensure that our numbers are as accurate as possible, unless otherwise indicated they are only estimates. If you re-calculate Rockefeller's net worth taking into account his wealth as a percentage of American GDP plus various other factors (like being on the gold standard at the time), it's not unscientific to drastically boost Rockefeller's estimated present net worth equivalent. Legal Statement. After overtaking Bezos on 7 January to claim the title as the worlds richest person, Musk reiterated his pledge to use his wealth for what he believes is the greater good for the world. First published on October 29, 2021 / 10:15 AM. Instead, they hold their wealth in shares and other investments, then take out loans using those assets as collateral. At the time, Tesla shares were worth around $60. In January 2018, the Tesla board unveiled a compensation plan for Musk that would eventually be worth $100 billion. He has continued to launch new businesses since then, including SpaceX, his aerospace design and development company, and Tesla Motors, the company behind a range of increasingly popular electric sports cars. Mortgage fee structure 2023: Here's how it's changing, King Charles III's net worth and where his wealth comes from, framework for the domestic policy package. He is by far the richest person in the world, topping the #2 person Jeff Bezos by around $140 billion. Elon Musk To understand how rich billionaires really are, use this calculator Read about our approach to external linking. Leon Cooperman, the outspoken billionaire investor who has long denounced Senator Elizabeth Warren's separate proposal for a wealth tax, has added his voice to the exasperation coming from some of the uber-wealthy. All net worths are calculated using data drawn from public sources. Some lawmakers want to tax it. Please refresh the page or navigate to another page on the site to be automatically logged in, Please refresh your browser to be logged in, Elon Musk says you can now buy a Tesla with bitcoin, Elon Musk says Twitter will let media outlets charge users per article view, Jack Dorsey says Twitter went south after its sale to Elon Musk, Bluesky might be the hottest and most controversial app in the world, How rich is Elon Musk? Also known as Musa I of Mali, he was born about 200 years after William the Conqueror's death. Some senators, including Ms Warren, have backed the idea of taxing not only the income of America's richest citizens, but also the rising value of the assets they hold, like shares. Elon Musk The reason is not what you think. ET Not surprisingly, Musk and other billionaires are voicing their displeasure with the proposed tax. Now that I know Bezos earns my entire salary in under a minute, it does make the additional $2 an hour that Amazon employees briefly received for working during the pandemic seem even more paltry. Under current law, a gain is only taxed if it is "realized" when its owner sells the asset and makes a profit. Mr Musk, co-founder of electric car maker Tesla and aerospace manufacturer SpaceX, became the world's richest person earlier this year. This Twitter post cannot be displayed in your browser. Shares related to this plan are released quarterly after the Board of Directors confirms the milestone was achieved. The lawsuit also revealed that Musk's base salary at Tesla is $56,380. This made him one of the richest people in the world, and his wealth has continued to increase rapidly over the past few years, largely due to the soaring stock prices of his We all know Jeff Bezos is very rich but wouldnt you love to know how long it would take him to, for example, earn your entire years salary, tackle your entire student debt or pay off your mortgage? He subsequently bought Confinity, the company that operated PayPal. ICE Limitations. Billionaire Elon Musk-owned Twitter is expected to make changes in its privacy policy soon. Elon Musk's net worth has fallen $49 billion since he offered to So why is my original statement controversial? When he became the 10th emperor of Mali, Mansa Musa proceeded to establish the world's most-lucrative salt and gold production systems. Musk founded his third company, Space Exploration Technologies Corporation (SpaceX), in 2002 with the intention of building spacecraft for commercial space travel. October 29, 2021 / 12:09 PM Please enter valid email address to continue. In other words, if at some point in the future we see Elon sitting on a personal fortune of $340 billion (plus $1) he will be the richest human being who has ever walked the earth. Read about our approach to external linking. According to the Bloomberg Billionaires Index, Musk added $121 billion to his net worth in 2021, becoming the world's richest man who briefly saw his net worth cross $300 billion. New Twitter feature: Elon Musk opens up earning opportunity for users, calls it a major win-win 2 min read. Most populous nation: Should India rejoice or panic? WebSpend Elon Musk's Fortune! All Rights Reserved. So who could buy more things in their lifetime? Twitter to update privacy policy soon; here's what we know so far The world's wealthiest person: How did Elon Musk get so Before falling to second on the richest persons list, Musk was worth around $184 billion. If you believe the biblical legend of King Solomon, he was the richest human being of all time, worth the modern equivalent of trillions of dollars. Elon has been married three times, twice to the same woman actress Talulah Riley. Elon Musk, the founder and CEO of the company, currently has a net worth estimated at $300bn, which makes him the richest person in the world. Elon Musk ended the day with a net worth of $335 billion, Andrew Carnegie's inflation-adjusted $310 billion fortune, Wikipedia's list of the wealthiest historical figures, Elon Musk's Net Worth Just Topped A Quarter Trillion Dollars, Elon Musk's Net Worth Hits $290 Billion As Tesla Soars Above $1 Trillion Market Cap, Elon Musk Is Perilously Close To Losing His Status As The Richest Person In The World.