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. Forget it, he said on Twitter. Read Next: Elon Musk's Net Worth Plummets $13B In A Day As Tesla Stock Slides Photo: Shutterstock Rejuvenate Your Portfolio With Options! To believe the electric car-maker's worth could rise so rapidly in just 12 months is the ultimate example of irrational exuberance. 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. He dove directly into his career plans, dropping out of Stanford two days after the first semester began. 2023 Celebrity Net Worth / All Rights Reserved. How rich is Elon Musk? His wealth in three charts | The Independent This article contains content provided by Twitter. Some lawmakers want to tax it. Elon Musk Net Worth Elon Musk Net Worth January 19, 2023 by admin [wpcode id=23] January 18, 2023 by admin Age 18 44 Exclude married Race Any color The reason is not what you think. One of the biggest companies couldnt afford to keep it up? Oneto said. He was married to Canadian author Justine Wilson from 2000 to 2008. 2018 Herald International Research Journals. Before any of these ventures, Musk gained notoriety in Silicon Valley as the co-founder of online payments platform X.com, which went on to become PayPal. Elon ended 2022 with a fortune of $134 billion, a full $200 billion drop from a year prior. At that point he surpassed Bill Gates to become to the second-richest person in the world for the first time. New Twitter feature: Elon Musk opens up earning opportunity for users, calls it a major win-win 2 min read. If those assets gained in value, the billionaire would pay a tax on that gain, even if they haven't sold the asset. He could buy all 32 National Football League teams (currently worth more than $112 billion, according to data site Sportico) and still have almost $190 billion left over. However, the future of the billionaires tax is uncertain, given that it wasn't included in President Joe Biden's framework for the domestic policy package released Thursday. Video, The secret mine that hid the Nazis' stolen treasure, Elon Musk's six secrets to business success, Trump mistrial request denied in NY rape lawsuit, MasterChef Australia host Jock Zonfrillo dies, DeSantis-backed board votes to countersue Disney, Explosion derails train in Russian border region, US rock band Aerosmith announce farewell tour, Russia launches missile attacks on Ukraine, Father tells how gunman opened fire on Texas home, Street piano confiscated as public 'break rules', NFL player's daughter, aged two, drowns in pool. The inflation-adjusted number you typically see for William the Conqueror is $300 billion. Musk is now worth about $182 billion, while Bezos' net worth is $181 billion. In 2012, Musk and SpaceX made history when the company launched its Falcon 9 rocket into space with an unmanned capsule. Mr Musk has been embroiled in a public debate on social media over how much tax he pays. "[Mr Musk] probably felt it would be prudent to generate as much taxable income in 2021 as possible, on the theory that income in 2022 might be taxed at higher rates," he explained. Who is Elon Musk? The affair reportedly led to Sergey filing for divorce from his wife of four years, Nicole Shanahan. On November 24, 2020 Elon's net worth topped $128 billion for the first time. He believes the legend is a complete myth. Updated: 30 Apr 2023, 06:40 AM IST Sounak Elon Musk becomes first person to be worth more than $300 billion Video, 00:03:45How billionaires pay less tax than you, Musk makes whistleblower joke with new Tesla item, More than 100 police hurt in French May Day protests, Fighter jets are roaring over my home in Sudan, MasterChef Australia host Jock Zonfrillo dies. Expected electric vehicle tax credits would benefit Tesla, "which continues to have an iron grip on the market today", he added. : How to Check Your PAN Aadhaar Link Status Online? 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. From there, he launched X.com, an email payment company. Elon Musk Texas has more lenient tax rules - it does not collect income tax, in contrast to California, which has the highest income tax rates among US states, according to thinktank the Tax Foundation. Oh, and that time we learned that Zuckerberg takes about two minutes to earn the average US yearly wage? While the numbers involved in the case of Mr Musk were exceptional, this was a standard approach for a corporate executive to take to expiring stock options, he added. 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. We welcome all corrections and feedback using the button below. Jeff Bezos is richer than hundreds of countries, and earns my entire salary in under a minute. Elon Musk It is simply not 100% factual that there was ever an actual King Solomon or that he had any wealth, at all. (modern). 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. Watch video to know the better investment bet, : Hindustan Unilever Q4 net up 10% at Rs 2,500 crore on price hikes, : US Q1 growth slows to 1.1%, inflation rises. Elon Musk becomes first person to be worth A British historian named Ralph Ellis has been studying the legend of King Solomon for over thirty years. 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 Wikipedia's list of the wealthiest historical figures places John D. Rockefeller at #1 with a wealth range of $318 $420 billion. He was most likely in Texas, where his company SpaceX was preparing for a rocket launch. Because some would say that it's been nearly a decade since our estimate of $340 billion was published. Under current law, a gain is only taxed if it is "realized" when its owner sells the asset and makes a profit. The BBC is not responsible for the content of external sites. Please refresh the page or navigate to another page on the site to be automatically logged inPlease refresh your browser to be logged in, The sky-rocketing net worth of the Neuralink, SpaceX and Tesla boss has risen 8-fold during the pandemic, Find your bookmarks in your Independent Premium section, under my profile. Get browser notifications for breaking news, live events, and exclusive reporting. On November 17, 2020 Elon's net worth topped $100 billion for the first time. 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. Most Facebook users can now claim settlement money. There are 12 total milestones based on $50 billion market cap increases. Imagine as much gold as you think a human being could possess and double it. VideoThe secret mine that hid the Nazis' stolen treasure, LGBT troops take love for Eurovision to front line, Why an Indian comedian is challenging fake news rules. Very little time for recreation. 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. Elon Musk That's what all the accounts are trying to communicate.". On January 7, 2021 Elon's net worth hit $195 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. Roughly least $60 million of his Morgan Stanley debt was home mortgage-related. The fundraising round increased SpaceX's private valuation to $46 billion, up from $36 billion. Income tax calculator Jack Dorsey rues Elon Musk deal, says it all went south Business/ Bloomberg / Apr 30, 2023, 08:17 IST Twitterco-founder Jack Dorsey once a supporter of Elon Musks $44 billion acquisition of the site is now offering sharp criticism of the new ownerand his handling of the deal. They welcomed a second child via surrogate in December 2021. Musk merged everything and renamed it all PayPal. 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. The worlds richest person, Elon Musk (net worth: $317 billion), did not attend. At some point in late 2021 Elon ALSO welcomed a set of twins, born to one of his Neuralink executives. 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. That prompted Senator Warren to tweet: "Let's change the rigged tax code so 'The Person of the Year' will actually pay taxes and stop freeloading off everyone else.". He takes the top spot from Amazon founder Jeff Bezos, who had held it since 2017. To view this content choose accept and continue. Elon Musk In January 2018, the Tesla board unveiled a compensation plan for Musk that would eventually be worth $100 billion. He ended 2020 with a net worth of $170 billion. Elon Musk taught himself computer programming when he was a kid. Rudolph Ware, a professor of history at the University of Michigan explained to CNN back in 2015 that Musa's wealth was so immense that people of the time struggled to describe his riches. The second reason my earlier statement might be considered controversial is because there are several historical figures outside of modern history who were extremely wealthy. A very impressive fortune no doubt, but clearly not enough to make him the richest human being of all time. Mr Musk responded to Senator Warren's tweet, saying he would be paying "more taxes than any American in history this year". The lawsuit also revealed that Musk's base salary at Tesla is $56,380. As opposed to railroads, the Hyperloop would use tubes for transportation. He holds the record for being the richest person in the world and the richest person in modern history. On November 1st, 2021, when Tesla's market cap topped $1.2 trillion, Elon Musk's net worth was $335 billion. With a stake in the company taken by Daimler and a strategic partnership with Toyota, Tesla Motors launched its initial public offering in June 2010, raising $226 million. Today you can find estimates that peg Rockefeller's inflation-adjusted net worth as high as $400 billion. VideoThe secret mine that hid the Nazis' stolen treasure, LGBT troops take love for Eurovision to front line. You should ask why I would want money. (Photo by Pascal Le Segretain/Getty Images). Elon Musk's net worth. He invested in several Musk companies, including being one of the earliest investors in Tesla. Elon Musk, the world's richest person, has tweeted he will pay $11bn (8.3bn) in tax for this year. Also in 1999, Musk co-founded X.com, an online financial services/payments company. Mr Musk reacted to the news in signature style, replying to a Twitter user sharing the news with the remark "how strange". John Catsimatidis, the billionaire grocery chain and real estate magnate who owns Gristedes, condemned the proposal as something you would "expect Putin to do," referring to President Vladimir Putin of Russia. Explore in 3D: The dazzling crown that makes a king. 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. Trump motion to declare mistrial in E. Jean Carroll lawsuit denied, Tornado hits Virginia Beach, likely damaging hundreds of homes, U.S. to let Afghan evacuees renew temporary legal status, Texas man who lost wife and son in shooting shares story, NYPD officer Troy Patterson dies 33 years after being shot in robbery, Supreme Court to hear case that could curb power of federal agencies, The weirdest items passengers leave behind in Ubers, MasterChef Australia host Jock Zonfrillo found dead at 46, Democrats consider billionaires income tax to help pay for spending bill. So how is John D. considered the richest person ever? Elon Musk Net Worth. To give Musk's wealth some perspective, consider that it is greater than the annual GDP of nations such as Finland, Chile and Vietnam and exceeds the market value of Netflix and PayPal, a company that he co-founded. 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. On July 13, 2020 when Elon's net worth hit $80 billion for the You may want to read Twitters cookie policy, external and privacy policy, external before accepting. 10 Books Recommended by Warren Buffett That Every Investor Should Read, 15 Easy Ways to Make Money Online for Beginners, Top 10 Advantages of Investing in Mutual Funds over Stocks, Alakh Pandey Net Worth: Founder and CEO of Physics Wallah, 10 Lessons on Leadership We Can Learn From Warren Buffett, A SIP calculator is a simple tool that allows individuals to get an idea of the returns on their.