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that ties his personal earnings to Tesla's valuation and revenue. The deal stipulated that Musk only received the compensation if Tesla reached certain market values. It was the largest such deal ever done between a CEO and a company board. In the first award, given in May 2020, he was eligible to purchase 1.69 million Tesla shares (about 1% of the company) at below-market prices, which was worth about $ 800 million.
25:
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The above stock compensation deal was invalidated by the
Delaware court due to Musk controlling Tesla and having massive influence on the directors, making the compensation decision a "conflicted-controller transaction" which is subject to court review in Delaware law to be judged for fairness. Tesla
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to become the richest person in the world. Bezos reclaimed the top spot the following month. On
September 27, 2021, after Tesla stock surged, Forbes announced that Musk had a net worth of over $ 200 billion, and was the richest person in the world. In November 2021, Musk became the first person
206:
Around 75% of Musk's wealth was derived from Tesla stock in
November 2020, a proportion that fell to about 37% as of December 2022, after selling nearly $ 40 billion in company shares since late 2021. Musk does not receive a salary from Tesla; he agreed with the board in 2018 to a compensation plan
144:
At the start of 2020, Elon Musk had a net worth of $ 27 billion. By the end of the year his net worth had increased by $ 150 billion, mostly driven by his ownership of around 20% of Tesla stock. During this period, Musk's net worth was often volatile. For example, it dropped $
660:
182:
On
December 30, 2022, it was reported that Musk had lost $ 200 billion from his net worth due to declining stock values in Tesla, becoming the first person in history to lose such a large sum of money. In January 2023, Musk was recognized by
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for experiencing the "largest loss of personal fortune in history" with regards to his financial losses since
November 2021, which Guinness quoted a Forbes estimate of $ 182 billion.
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225:", and has "professed to have little interest in the material trappings of wealth". In May 2020, he pledged to sell almost all physical possessions after a talk with
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218:, Musk paid no federal income taxes in 2018. He stated his 2021 tax bill was estimated at $ 12 billion based on his sale of $ 14 billion worth of Tesla stock.
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124:. He is one of the wealthiest people in the world, with an estimated net worth of US$ 248 billion as of September 2024, according to the
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919:"Bezos, Buffett, Bloomberg L.P., Musk, Icahn and Soros pay tiny fraction of wealth in income taxes, report reveals"
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255:, he was worth $ 140 billion, with $ 52 billion of that attributable to his ownership of Tesla stock.
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made $ 175.8 million when PayPal was sold to eBay in
October 2002. He was first listed on the
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Musk paid $ 455 million in taxes on $ 1.52 billion of income between 2014 and 2018. According to
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1014:"Bernie Sanders responds to Elon Musk's space travel plans with call for progressive taxes"
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in 2012, with a net worth of $ 2 billion. He is the chairman, CEO, and CTO of
854:"Elon Musk reaches first Tesla compensation award worth nearly $ 800 million"
97:
778:"Funding obscured: The family office behind Musk's $ 44 billion Twitter buyout"
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history at the time. In
November of that year, Musk passed Facebook co-founder
622:"Elon Musk Eclipses $ 200 Billion To Become Richest Person in the World Again"
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746:"Elon Musk secures world record for largest-ever loss of personal fortune"
591:"Jeff Bezos overtakes Elon Musk to reclaim spot as world's richest person"
229:. Musk has defended his wealth by saying he is accumulating resources for
798:"Elon Musk's Finances Complicated by Declining Wealth, Twitter Pressures"
170:
In
January 2021, Musk, with a net worth of $ 185 billion, surpassed
530:"Elon Musk overtakes Bill Gates to become world's second-richest person"
159:
to become the third-richest person in the world; a week later he passed
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is trying to reinstate the payment package via new shareholders votes.
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888:"Elon Musk says he will pay over $ 11 billion in taxes this year"
431:"Elon Musk is now the richest person in the world, passing Jeff Bezos"
402:
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117:
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278:"8 Innovative Ways Elon Musk Made Money Before He Was a Billionaire"
465:"Elon Musk passes Jeff Bezos to become the richest person on Earth"
145:
16.3 billion on
September 8, the largest single-day plunge in
820:"Tesla's Elon Musk May Have Boldest Pay Plan in Corporate History"
72:
953:"Elon Musk Surpasses Jeff Bezos to Become World's Richest Person"
560:"Elon Musk becomes world's richest person as wealth tops $ 185bn"
96:; angel investor, CEO, product architect, and former chairman of
715:"Elon Musk is the first person in history to lose $ 200 billion"
496:"Elon Musk Loses Record $ 16.3 Billion With Wild Wealth Swings"
18:
653:"Elon Musk Is The First Person Worth More Than $ 300 Billion"
34:
may be in need of reorganization to comply with
Knowledge's
684:"Elon Musk Becomes First Person Ever to Lose $ 200 Billion"
136:, primarily from his ownership stakes in Tesla and SpaceX.
775:
Jin, Hyunjoo; Marshall, Elizabeth Dilts (April 26, 2022).
339:"The Top 10 Richest People In The World (February 2024)"
42:
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to have a net worth of more than $ 300 billion.
194:called Excession LLC, formed in 2016 and run by
309:"How Elon Musk Became A Billionaire Twice Over"
45:to make improvements to the overall structure.
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221:Musk has repeatedly described himself as "
983:"Elon Musk, Tech's Cash-Poor Billionaire"
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190:Musk's personal wealth is managed by his
61:Learn how and when to remove this message
818:Sorkin, Andrew Ross (January 23, 2018).
130:, and $ 251.6 billion according to
100:; owner, executive chairman, and CTO of
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951:Pendeleton, Devon (January 6, 2021).
898:from the original on November 3, 2022
864:from the original on February 2, 2021
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231:humanity's outward expansion to space
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620:Cai, Kenrick (September 27, 2021).
589:Palmer, Annie (February 16, 2021).
528:Neate, Rupert (November 14, 2020).
494:Pitcher, Jack (September 8, 2020).
288:from the original on August 9, 2020
16:Overview of the wealth of Elon Musk
886:Browne, Ryan (December 20, 2021).
796:Higgins, Tim (December 23, 2022).
713:Woodward, Alex (January 1, 2023).
441:from the original on April 6, 2021
319:from the original on July 11, 2022
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1012:Woodward, Alex (March 22, 2021).
663:from the original on May 31, 2022
429:Frank, Robert (January 7, 2021).
378:from the original on July 8, 2017
463:O'Kane, Sean (January 7, 2021).
23:
744:Gans, Jared (January 7, 2023).
307:Melby, Caleb (March 12, 2012).
369:"Bloomberg Billionaires Index"
167:to become the second-richest.
1:
852:O'Kane, Sean (May 28, 2020).
981:Higgins, Tim (May 8, 2020).
917:Mangan, Dan (June 8, 2021).
148:Bloomberg Billionaires Index
127:Bloomberg Billionaires Index
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398:"Real Time Billionaires"
89:Forbes Billionaires List
987:The Wall Street Journal
802:The Wall Street Journal
120:; and president of the
185:Guinness World Records
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1055:Wealth by individuals
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566:. January 7, 2021.
252:Wall Street Journal
43:editing the article
824:The New York Times
106:the Boring Company
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955:. Bloomberg L.P.
249:According to the
202:Sources of wealth
77:Elon Musk in 2023
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603:. Retrieved
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534:The Guardian
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781:. Reuters.
760:January 10,
729:January 11,
667:November 4,
227:Cory Spears
163:co-founder
98:Tesla, Inc.
1044:Categories
414:August 27,
353:6 February
263:References
216:ProPublica
176:Jeff Bezos
165:Bill Gates
51:March 2024
1050:Elon Musk
1028:April 13,
858:The Verge
688:Bloomberg
500:Bloomberg
469:The Verge
445:April 13,
292:April 13,
223:cash poor
161:Microsoft
114:Neuralink
83:Elon Musk
1022:Archived
991:Archived
957:Archived
927:Archived
902:March 3,
896:Archived
862:Archived
828:Archived
783:Archived
754:Archived
750:The Hill
723:Archived
692:Archived
661:Archived
630:Archived
599:Archived
568:Archived
564:BBC News
538:Archived
504:Archived
473:Archived
439:Archived
408:Archived
382:July 25,
376:Archived
347:Archived
317:Archived
286:Archived
174:founder
933:June 8,
140:Details
102:X Corp.
657:Forbes
626:Forbes
403:Forbes
343:Forbes
313:Forbes
172:Amazon
133:Forbes
118:OpenAI
94:SpaceX
282:Money
237:Notes
151:'
1030:2021
999:2021
965:2021
935:2021
923:CNBC
904:2022
892:CNBC
870:2021
836:2021
762:2023
731:2023
700:2023
669:2021
638:2021
607:2021
595:CNBC
576:2021
546:2021
512:2021
481:2021
447:2021
435:CNBC
416:2017
384:2022
355:2024
325:2021
294:2021
116:and
108:and
110:xAI
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