There’s no doubt that Elon Musk is a man of many talents. He’s an entrepreneur, engineer, and inventor, to name just a few things. But how much money does he actually make?
We decided to do some digging, and believe it or not, the answer is a lot more than you might think. If you’re interested in learning more, read on.
How Much Does Elon Musk Make a Day?
Based on the fact that Elon Musk has a net worth of $253 billion, we can calculate that he earns approximately $650 million per day. In other words, that’s $81.25 million per hour.
Of course, Elon Musk didn’t become a billionaire overnight. It took him many years of diligence and dedication to get where he is today — top of the world. He started out working on video games before eventually co-founding PayPal. He then went on to become the CEO of Tesla and SpaceX.
15 Brief Stats About Elon Musk’s Net Worth
If you thought you knew everything about Tesla’s owner, think again. Here are 15 stats and facts that will give you a better insight into just how much money he’s making.
1. Elon Musk is currently the richest man in the world, with a net worth of $253 billion.
(Forbes)
In 2022, Forbes reported that Musk made $253 billion, which works out to be about $650 million per day. This means that Elon Musk’s daily income is more than the GDP of some small countries, such as American Samoa, and more than most people will ever witness during their lives.
2. Elon Musk makes approximately $81.25 million per hour.
(Talent) (BLS)
If we do the math, Elon Musk gets richer by about $81.25 million per hour based on his net worth.
To put it into perspective, the average person in the US makes $32.08 per hour. This means that it would take you over three thousand years to make Elon Musk’s hourly pay.
3. Musk’s net worth has grown from $24.6 billion to $234 billion since the beginning of the pandemic.
(Truthout) (Macrotrends)
Elon Musk was worth over $24 billion in March 2020. Yet, due to Tesla’s share price increase, he grew his net worth by a stunning 793% percent during the pandemic.
4. Elon Musk was born into a wealthy South African family.
(PublicistLibrary)
In fact, Elon Musk’s dad’s net worth is nothing to shy away from either. Namely, Elon Musk’s father, Errol Musk, is reported to have a net worth of $2 million.
Errol’s wealth came from his job as a real estate developer. He also owned several mines. So, basically, Elon Musk was born rich. However, he didn’t just sit on his laurels. He worked hard to achieve the level of success he has today.
5. Elon Musk’s first paychecks were from video game development.
(InsideEvs)
While Elon Musk’s net worth in 2022 exceeds $200 billion, it is interesting to note that his first paychecks were actually from video game development. Namely, when he was 12, he developed a space-themed video game called Blastar and sold it for $500.
It’s safe to say that Musk definitely knew how to make money, even as a kid.
6. Musk sold his first business, Zip2, for $307 million.
(Britannica)
How did Elon Musk get rich? It all started in 1999, when Musk sold his first company, Zip2, for $307 million in cash and stock options to Compaq. He started Zip2 with his brother Kimbal while attending Stanford University.
From then on, Musk has invested in a variety of different businesses. For instance, he founded the Boring Company, whose latest project is building an underground freeway between Downtown Miami and Brickell, the city’s luxury neighborhood. The idea to start digging freeway tunnels came to him during a particularly stressful LA rush hour.
7. Elon Musk owns 25% of Tesla’s shares.
(Forbes)
As of 2022, Musk owns approximately 25% of Tesla’s shares. In addition to Tesla, Musk owns SpaceX, a private space exploration company valued at $125 billion.
8. Musk doesn’t receive a salary at Tesla. Instead, he chose to be paid in stock options.
(9news)
Elon Musk’s salary is a bit different from the average person’s. Namely, he doesn’t receive a salary from Tesla. Instead, he is paid in stock options. This means that his pay is directly tied to the success of Tesla’s share price.
9. The largest amount of money that Elon Musk has ever made in a single day is $36 billion.
(FinancialPost)
After Hertz Global Holdings Inc. decided to purchase 100,000 Teslas, Musk made a staggering $36 billion in a single day. In addition, Tesla shares rose 13%, putting the company’s market value at more than $1 trillion.
10. In 2021, Musk claimed he would “pay more taxes than any American in history” that year.
(Twitter) (CNN)
Exactly how much did Elon Musk pay in taxes for 2021? $11 billion. However, he has the option of obtaining money by using his company’s stock as collateral.
11. Elon Musk made $180 million from the sale of PayPal to eBay.
(Time)
How much did Elon Musk sell PayPal for? The final figure was $1.5 billion. Yet, his take home was a bit less than that. I.e., he made $180 million from the sale.
12. Elon Musk allegedly owns 2.5 million Dogecoins.
(Planet Crypto)
Dogecoin is a cryptocurrency that was created as a joke. However, thanks to Elon Musk, DOGE could be the next crypto to explode. He allegedly owns approximately 2.5 million Dogecoins, which would be worth over $15 million.
Nevertheless, take this information with a grain of salt.
13. In 2021, Musk bought $1.5 billion in Bitcoin.
(Analytics Insight)
Tesla’s recent investment of $1.5 billion in Bitcoin has made Elon Musk one of the world’s major Bitcoin investors.
On that note, some think Tesla’s CEO is stirring up a hornet’s nest with his enigmatic tweets and remarks about Bitcoin and DOGE.
14. Elon Musk’s income per second amounts to $375.
(HITC)
This means that every minute, Musk is making approximately $22,500. In comparison, the third richest person in the world, Jeff Bezos, makes a mere $0.10 per second.
15. Elon Musk lost $49 billion since he offered to buy Twitter.
(Yahoo! Finance)
Tesla shares dropped 28% after Musk announced his bid to acquire Twitter for $44 billion. As a result, he lost $49 billion in net worth.
Conclusion
So how much money does Elon Musk make? Elon Musk cashes in about $650 million each day. He made his fortune by starting and selling companies, as well as through his stake in Tesla. So far, he has managed to make as much as $36 billion in a single day. However, he also lost $49 billion in a single day.
This just goes to show that Musk is a very controversial figure, and while he inspires many, others show a strong dislike. But, there’s no denying that he’s the wealthiest person in the world.
FAQs
How much does Elon Musk make in an hour?
Elon Musk makes about $81.25 million per hour, based on his net worth. The figure will probably rise despite the fact Musk recently experienced a $62 billion loss.
How much does Elon Musk earn in a minute?
Musk’s wealth increases by about $22,500 per minute. That means that at any given second, he is getting richer by $375.
How much money does Elon Musk make in a day?
We can only estimate, but he likely makes $650 million daily. However, Musk doesn’t get any salary from Tesla. Instead, he is paid in stock options, so his pay is directly tied to the success of Tesla’s share price, making the figure prone to constant changes.
So, in a good year, Musk could make billions. In a bad year, he could make nothing. So, how much does Elon Musk make a day? It really depends on the share market.
