ELON Musk is the eccentric billionaire behind a few of the world’s most modern firms together with SPACEX and Tesla.
He hit the headlines earlier this yr by naming his new child child X Æ A-12 – as his income continued to soar. Right here’s what you have to know.
What’s Elon Musk’s web value?
Self-made billionaire Elon Musk, 48, is ranked quantity 25 on the Forbes wealthy checklist with an estimated private fortune of $37.2bn (£30.1bn).
A infamous workaholic, he doesn’t spend his cash on lavish holidays or costly hobbies.
As an alternative, the entrepreneur spends most of his free time on the workplace or in factories.
On the finish of the day he heads again to one among a number of Los Angeles mansions he owns on the finish of the day.
How did he make his fortune?
In 1995 he and his brother Kimbal began software program agency Zip2, which created web metropolis guides for the New York Instances and Chicago Tribune.
4 years later Elon pocketed $22million when the agency was bought to Compaq.
Later in 1999 he based X.com, one of many world’s first on-line banks, which merged with PayPal the next yr.
Musk, who held 11.7 per cent of PayPal shares, scored an enormous payday when the agency was purchased by eBay for $1.4bn in 2002.
He went on to discovered SpaceX and took over Tesla Motors which is now value round $70bn.
What firms does Elon Musk personal?
Elon Musk started investing in area journey in 2001 when he tried to purchase Russian ballistic missiles that he hoped may ship payloads into area.
As an alternative he set about constructing his personal rockets by means of his agency SpaceX.
The corporate has pioneered re-usable rockets and has efficiently landed its Falcon 9 craft, a primary for an orbital rocket.
SpaceX has gained contracts to launch payloads into orbit for Nasa and is now valued at greater than $20bn.
Musk has a lot grander plans together with a colony of one million individuals residing below glass domes on Mars.
In 2004, Musk was concerned in refinancing start-up tech agency Tesla Motors and oversaw the design of its the Roadster electrical automobile.
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He took over as boss in 2008 and has led the push to make electrical automobiles mainstream.
In 2018, Musk was compelled to resign as Tesla chairman and pay a 15million positive after settling a take care of US regulators over tweets about taking the corporate personal.
The US Securities and Change Fee stated his claims have been “false and deceptive”.
The corporate’s market cap hit $100bn in January 2020, serving to Musk’s private web value soar.
Musk funded the SolarCity agency based by his cousins, which makes photo voltaic panels and is now owned by Tesla Inc.
He additionally co-founded Hyperloop One, which goals to develop high-speed practice journey, and The Boring Firm which is testing cheaper methods to dig tunnels.
One other of Musk’s start-up is Neuralink, which goals to combine the human mind with synthetic intelligence by means of implants within the cranium.
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