How Elon Musk Makes And Spends His $20.1 Billion

Elon Musk has a net worth of close to $20 billion. As CEO of Tesla and SpaceX, Musk is an influential entrepreneur in the world of tech. Here’s how he makes and spends his fortune.

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How Elon Musk Makes and Spends His $20.1 Billion

What Tesla Fans Should Know About The New Roadster

In late 2017, Elon Musk revealed to the world the prototype for Tesla’s next-generation Roadster. Musk claims it will be the fastest production car ever developed. Manufacturing for the supercar is scheduled to begin in 2020. Business Insider’s Tesla reporters are here to explain the most important things to know about the automaker’s upcoming second-generation Roadster.

For more, check out: https://www.tesla.com/roadster

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What Tesla Fans Should Know About The New Roadster

Musk to Build Futuristic Shuttle in Chicago

A company founded by Tesla CEO Elon Musk plans to build a high-speed underground transportation system that could whisk passengers from downtown Chicago to O’Hare International Airport in minutes. (June 14)

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Raw: ‘Starman’ Orbits Earth In Musk’s Tesla

SpaceX CEO Elon Musk’s Tesla Roadster is orbiting the earth, with a mannequin named “Starman” in the driver’s seat. The Falcon Heavy rocket, powered by 27 engines and three boosters, lifted Musk’s Tesla Roadster into orbit on Tuesday. (Feb. 7)

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How Elon Musk, CEO Of Tesla And SpaceX, Makes And Spends His Money

Elon Musk may be the world’s richest rocket scientist. With a fortune hovering around $20 billion, the 46-year-old CEO of Tesla and SpaceX and co-founder of OpenAI has said he won’t be happy until we’ve escaped Earth and colonized Mars.

A notorious workaholic, Musk doesn’t spend cash on lavish vacations or expensive hobbies. Instead, the entrepreneur spends most of his time at the office or in factories, retreating to one of his four Los Angeles mansions at the end of the day. Watch to find out what we know about how Musk, a father of five, amassed his fortune and how he spends it. Following is a transcript of the video.

He’s been an entrepreneur since an early age. In college, he sold computer parts and would turn his house into a speakeasy on the weekends. After college, he and his brother founded Zip2, their version of an online yellow pages. In 1999, they sold the company and Elon made $22 million. He used that money to co-found X.com, an online banking service. X.com merged with a rival and became PayPal. eBay bought Paypal in 2002 and Musk made $180 million from the deal. He then went on to found SpaceX, Tesla, and Solar City. In 2009, Musk “ran out of cash” after divorcing his first wife. He lived off of loans while trying to keep his companies afloat.

That changed when Tesla IPO’ed in 2010. By 2012, Musk was a billionaire. He famously doesn’t spend much on luxurious items, but he owns $70 million worth of homes in Los Angeles. He bought one of them for $17 million. It features a two-story library, home theater, gym, and wine cellar. Musk paid $920,000 for a submarine car used in the James Bond movie “The Spy Who Loved Me.” He’s also signed Bill Gates and Warren Buffett’s “Giving Pledge,” meaning most of his fortune will be left to charity.

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Tesla Makes Big Promises It Probably Can’t Keep With New Semi-Truck (HBO)

On Thursday, Tesla CEO Elon Musk unveiled the company’s highly anticipated all electric semi-trucks. Musk said his company’s trucks will be cheaper to own and maintain than traditional diesel trucks, and because they’re powered by a lithium ion fuel cell, will have zero emissions. Wal-Mart has already said it plans to test 15 of Tesla’s semi-trucks, a small portion of the company’s 6,000 truck fleet.

That wasn’t the only thing Musk showed off during Thursday’s event at the SpaceX headquarters in Hawthorne, California. Right as the event was about to end, Musk surprised the crowd by unveiling the second generation of Tesla’s roadster sports car. Musk says the Roadster, which he promised will be unveiled in 2020, will be the fastest production car ever made and will cost $250,000.

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