Elon Musk – Net Worth, Salary, Income Sources
Elon Musk is an entrepreneur, inventor, and CEO of electric vehicle maker Tesla, and space company SpaceX. He also owns tunneling startup Boring Company, X Corp., formerly Twitter, xAI, Neuralink, and OpenAI. Musk is one of the wealthiest people in the world; as of June 2024, Forbes estimates his net worth to be US$208 billion.
| Full Name | Elon Reeve Musk |
| Country | United State |
| Age | 52 (born: June 28, 1971) |
| Salary | N/A |
| Yearly Income | $14.39 billion (Approx) |
| Income Source | Tesla, SpaceX, X Corp. |
| Net Worth | $208 billion |
- Elon Musk does not take a salary from the company and is compensated through stock options.
- In 2018, Tesla’s board approved a compensation plan that would grant Musk stock options based on the company’s achievement of specific milestones, including market capitalization, revenue, and adjusted EBITDA (earnings before interest, taxes, depreciation, and amortization) targets. The plan was designed to incentivize Musk to achieve ambitious growth goals for Tesla over a ten-year period.
- Elon Musk’s $56 billion compensation package, initially approved in 2018, was voided by a Delaware judge in January 2024 due to concerns over its excessive size and lack of transparency. The package was later reinstated by Tesla’s board of directors, and shareholders are set to vote on its approval during the company’s annual meeting on June 13, 2024.
- The package does not include a salary or cash bonus, offering rewards in the form of stock options based on Tesla’s market value reaching as much as $650 billion over the next 10 years. Proxy advisory firm Glass Lewis has urged shareholders to reject the package due to its excessive size, potential dilutive effect on shareholders, and concentration of ownership.
- Elon Musk is the CEO and lead designer of SpaceX, co-founder and CEO of Neuralink, founder of The Boring Company, and owner of Twitter (now X Corp). These are all private companies, so detailed information about Musk’s compensation is not publicly disclosed like it is for publicly traded companies. However, it is known that Musk holds a significant ownership stake in those companies.
How many Tesla shares does Elon Musk hold?
Elon Musk’s ownership stake in Tesla is 20.5% ( 715,022,706 shares ) worth more than $120 billion.
How much share does Elon Musk have in SpaceX?
Elon Musk holds a 42% ownership stake in SpaceX and controls nearly 79% of its voting power.
How many shares of X (formerly Twitter) does Elon Musk own?
X Corp. is an American technology company established by Elon Musk in 2023 as the successor to Twitter, Inc. It is a wholly owned subsidiary of X Holdings Corp., which is itself mostly owned by Musk.
How much has Elon Musk invested in OpenAI?
In 2015, Elon Musk invested less than $45 million in OpenAI and garnered over $90 million from additional contributors.
What is Elon Musk’s xAI?
xAI, an American startup company established by Elon Musk in March 2023, focuses on developing artificial intelligence (AI) technologies.
What is the net worth of Elon Musk in 2024?
As of June 2024, Elon Musk’s net worth is US$208 billion.