Part One
From an entrepreneur’s point of view, Elon Musk is likely one of the most inspiring individual’s on the planet. Tesla, SpaceX, and The Boring Company are all projects that Musk has spearheaded over the past two decades, with Tesla and SpaceX having proven to be particularly profitable.
But what many people want to know is, how much money does Musk make in a day?
The simple answer is that we can’t know for sure. Musk’s pay is tied directly to the success of his companies and as such, it is impossible to provide an exact figure without dissecting the complexities of Tesla and SpaceX’s, and Musk’s own personal investments.
It is similarly difficult to determine what Musk earns in a day, as the majority of his income comes from the share-based compensation, meaning his day-to-day earnings vary greatly.
However, several experts have weighed in on this nebulous figure. According to Forbes, it’s estimated that Musk makes around $75 million per day.
This number has been calculated by examining the financials of Tesla and SpaceX, of which Musk is CEO, and the sheer amount of stock options and shares Musk is due to receive over the next decade.
It’s worth noting that the lion’s share of this comes from Tesla, as the electric vehicle company is estimated to be worth over $400 billion.
At the same time, Musk has taken a much more conservative approach concerning his pay at both companies. In 2018, he famously declined all of his deferred compensation, opting to earn nothing until Tesla’s market capitalization surpassed $100 billion—a goal that it had achieved by the end of January 2021.
As for what he spends or has spent his money on, he’s invested much of his personal wealth into environmentally-focused startups, such as AI-powered energy efficiency startup, AutoDesk and the development of an electric cargo ship, Hyperloop.
The money Musk earns in a day is truly astounding and difficult for most people to comprehend. Yet it is also a reminder of how much of an inspiration he has been for entrepreneurs and innovators around the world. And while it’s impossible to know for certain how much Musk makes in a day, he has proved to be a great example of what can be accomplished with hard work and dedication.
Part Two
One of the peculiarities of Elon Musk’s fortune is the fact that the vast majority of his wealth comes from his enormous share of Tesla stock, much of which is resulting from deferred compensation. This means that exactly how much money he makes in a day largely depends on the value of Tesla stock and other stock options that he holds.
Currently, Tesla has an estimated market capitalization of $820 billion. That’s an incredible figure and it is no surprise that Musk is set to earn billions of dollars in the coming years from his stake in the company. Furthermore, his deferred compensation package is structured in a way that his pay increases as Tesla’s market capitalization does. This means that if Tesla’s market capitalization reaches $650 billion by 2024, Musk will be in line for a payment of around $2.8 billion.
Yet while Musk holds more Tesla stock than any other individual, he also owns a substantial amount of SpaceX’s shares. As the company continues to make progress in its various projects, including the development of the Falcon Heavy rocket, its value has been increasing. SpaceX is currently the second most valuable private company in the world, valued at around $74 billion.
This means that Musk’s total wealth, including his shares in Tesla and SpaceX, is likely in the billions, possibly surpassing even that of Amazon’s Jeff Bezos.
It is important to note that despite the numerous projects that Musk is involved in, not all of them are profitable. He is known to be an ardent supporter of renewable energy and environmentalism, and his long list of investments include numerous startups. Nonetheless, it’s safe to say that his stake in Tesla and SpaceX combined is more than enough to make him a billionaire many times over.
Part Three
In addition to his numerous investments and deferred compensation, Elon Musk’s wealth is bolstered by his various side projects and initiatives, such as The Boring Company and OpenAI.
The Boring Company was founded in 2016 and is a transportation and tunnel construction company. The company plans to alleviate traffic congestion in heavily populated areas by constructing networks of underground tunnels.
OpenAI, on the other hand, is an artificial intelligence research laboratory and is backed by numerous billionaires and tech companies, such as Microsoft and Amazon.
As of the end of 2020, OpenAI’s market value was estimated at around $2 billion. However, due to the increasing demand for AI-driven technologies and services, it is likely that the company will become even more valuable in the months and years to come.
It is worth noting that OpenAI’s success is directly tied to Musk’s reputation and inspiring vision. As such, he holds an enormous amount of influence over the company and its actions, which undoubtedly feeds into his income.
Furthermore, Musk is also the founder and CEO of a non-profit research organization called Neuralink. Neuralink is a pioneering venture that aims to develop revolutionary brain–machine interfaces, with the intention of unlocking the full potential of humans.
This ambitious project has attracted significant interest from investors and the public, and has notably been funded by the US Department of Defense.
Overall, it is difficult to quantify how much money Elon Musk earns in a day due to the complexity of his investments and commitments. Even so, there is no denying that he is one of the wealthiest individuals alive and that he has effectively revolutionized the modern tech industry with his entrepreneurial spirit and unwavering ambition.
Part Four
With Elon Musk currently being one of the world’s wealthiest people, it can be difficult to comprehend the sheer magnitude of his wealth and earn enough money to make a meaningful contribution to society.
Fortunately, he has done just that. Musk recently announced that he would donate $100 million towards research and development of technology to capture and store carbon dioxide, with the goal of reducing the impact of climate change.
This commitment will undoubtedly have a lasting legacy and serve as an example of how money can be put towards causes that can benefit society as a whole.
In furtherance of this commitment, Musk also launched a carbon removal fund in March 2021. The $100 million fund has been set up with the intention of developing technologies to remove carbon dioxide from the atmosphere and fund promising projects that are working towards this goal.
This is an incredible initiative and is indicative of the fact that from day one Musk has always been driven by a goal of unlocking the potential of humans and encouraging the use of technology for social good.
The money that Musk has made has also been leverage to invest in other promising startups. One such startup is the electric vehicle startup, Rivian, which has recently been gaining momentum in the industry.
Musk has invested $500 million in the startup, in addition to the $700 million that the company has gathered from other investors.
This is a monumental step towards transitioning to an all-electric auto industry, and Musk’s investment is an excellent example of his commitment to making a positive impact on the environment.
Despite the fact that Elon Musk has made a substantial amount of money from his various endeavours, he has proven to be an effective forward thinker who understands the importance of giving back to society.
His innovative projects, commitment to renewable energy, philanthropic efforts, and investments are admirable, and set an example for other entrepreneurs and innovators.
Part Five
Elon Musk is an icon of the modern world and a true testament to what can be achieved with hard work and passion.
Before the success of Tesla and SpaceX, Musk was seen as an untested entrepreneur.
He had no guarantee of success and yet despite the numerous setbacks and financial struggles that he encountered in the early days, he persevered and stayed true to his goals.
Today, Musk is a household name, with his accomplishments and investments in cutting-edge technology earning him a legendary status.
His reputation, and the success of his companies, have had ripple effects on the tech industry and the global markets.
It’s no surprise then, that Musk is setting a new benchmark for remuneration in the tech industry.
In comparison to other CEOs of successful companies, Musk’s pay has proven to be staggering, ranging from $2.3 billion to $4.2 billion, with the bulk of this coming from his Tesla stock options.
This figure has prompted discussions about the morality of such lavish forms of compensation and their implications on the global economy.
However, Musk himself has taken a unique approach to his own compensation and has always aimed to tie it to the success of his companies and the long-term goals that he has set for them.
It is this innovative and patient approach to his pay that has made him an inspirational figure in the business world and an example of how success and wealth can be achieved without compromising one’s values.
Part Six
Currently, Elon Musk is one of the most influential figures in tech and business, commanding the attention of governments, world leaders, employees, and investors.
His presence on the Forbes billionaire list is testament to the power and impact that his business ventures have made on the global economy, and it’s difficult to ignore the fact that he has achieved an incredible amount of success within a relatively short space of time.
Along with the fame and wealth, he has also been subjected to intense scrutiny and criticism, with many accusing him of favouring business interests above all else.
However, it is important to note that Musk has proven to be an effective leader in times of crisis and has demonstrated a commitment to pushing the boundaries of technological innovation.
Indeed, Musk has a special talent for inspiring people and rallying behind projects that have the potential to have a lasting impact on the world.
This is evidenced by the fact that, as of 2021, his companies have attracted over 350 million followers on social media, with Tesla’s figure now exceeding that of Apple.
As such, it is no surprise that Musk’s successes have not gone unnoticed and that his achievements have been recognised with numerous awards and accolades.
This includes being named number one on the Bloomberg Billionaires Index, and receiving honorary doctorates from leading universities around the world.
Part Seven
Beyond the numbers and the money, Elon Musk’s story is one of courage and determination.
The South African-born entrepreneur has faced numerous personal and professional challenges, yet at every stage, he has managed to face these challenges head-on and emerge victorious.
This is a testament to his entrepreneurial spirit and the fact that he is never afraid of taking risks and pushing boundaries in order to get ahead.
This is evident in Musk’s own words, when asked about his successes. He is quoted as saying: “I think it’s important to have a future that is inspiring and appealing. If one believes that the future will be better than the past, then that affirms the will to act and create the future.”
It is an inspiring quote from an inspiring individual, and one that serves as a reminder of how much can be accomplished with passion and a commitment to pushing the boundaries of technology and innovation.
It is also a quote that encapsulates the essence of Elon Musk; that no matter how much money he makes in a day, it is his immense ambition and unwavering devotion to creating a better future that truly define him.
