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How Elon Musk Reached a $20.8 Billion Net Worth

According to Forbes, Elon Musk’s Net Worth is currently $20.8 billion.

The question is: How did he reach such a high figure?

He is mostly known for being the co-founder, CEO, and product architect of Tesla, Inc.

Yet, the answer to such question is a much longer one. Here is a simple timeline of how he achieved his current status.

February 1999: Sells Zip2 to Compaq for $307 million. Elon earns $22 million from this venture.

July 2002: Earns $165 million when EBay acquires Paypal. He had originally started X.com which became into Paypal.

2002: Founds SpaceX, which later receives $1 billion in funding from Google and Fidelity in 2015.

2004: Turns to Tesla Motors and Solarcity. These companies launch him into billionaire status.

2007: SpaceX wins $1.6 billion contract to bring cargo to the International Space Station.

October 2008: Becomes CEO of Tesla after divorcing his wife. The divorce takes a toll on his finances and Elon claims to have ran out of cash a year later.

He also claims to have been living off loans from his friends.

Jun 29, 2010: Tesla is introduced to the stock market and he earns his fortune back.

June 2012: Tesla begins deliveries of the all-electric Model S. He then appears in Forbes’ richest list with a $2 billion net worth.


Source: Business Insider

2 COMMENTS

    • If you read from the source, you will find that, “In late 2008, Musk divorced his first wife and it took a toll on his finances. A year later, Musk said he “ran out of cash” and had been living off loans from friends while trying to keep his companies afloat.”

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