Background
Elon Musk is an entrepreneur, innovator and philanthropist best known as the CEO of the electric car company Tesla and aerospace manufacturer SpaceX. Musk’s investments and businesses span multiple industries, including renewable energy, artificial intelligence, bioscience and data science. Musk has achieved immense success, both financially and in terms of influence, over the course of his career. He is commonly featured in news and media outlets around the globe. As a result, worldwide audiences are constantly wondering: How much is Elon Musk worth in 2019?
Public Fortune
According to Forbes, as of 16 August 2019, Elon Musk is worth a staggering $23.6 billion USD. This figure includes Musk’s wealth from Tesla plus his other ventures such as SpaceX, SolarCity and The Boring Company. Forbes estimates his Tesla stake, alone, at $19.4 billion. This can be largely attributed to the company’s incredible success in 2019, with its market value increasing from $42.3 billion at the beginning of the year, to an incredible $45.2 billion, resulting in a more than $2 billion increase in Musk’s net worth.
Musk Versus Others
Elon Musk has frequently been compared to some of the world’s greatest minds and entrepreneurs such as Steve Jobs and Jeff Bezos.When compared to Jobs, Musk falls short in terms of earnings, but in terms of influence, Musk outranks the Apple founder with a net worth of $19.3 billion USD compared to Jobs’ $13.2 billion. Likewise, Amazon CEO Jeff Bezos is worth an estimated net worth of $166 billion USD, which is still significantly higher than Musk’s $23.6 billion.
Tesla Motors
The bulk of Elon Musk’s incredible wealth has been built on the success of Tesla Motors, the electric car company he founded in 2003. The company has come from humble beginnings to becoming the world’s most valuable car company. In 2019, Tesla reported record sales, with a reported 363,000 car deliveries and a market value increase of almost $3 billion. Such success has seen Tesla’s stock surge by over 75% since the beginning of 2019. The success of Tesla has played a major role in increasing Elon Musk’s wealth and bringing him closer to the world’s billionaires.
Controversy
Despite his tremendous success, Elon Musk has been involved in several controversies over the years. In 2018, Musk caused an uproar when he tweeted that one of his Tesla employees had been involved in ‘sabotage’. He has also come under fire for his attempts to influence public opinion, such as his tweet calling a British diver in the Thai rescue mission a ‘pedo guy’. While these incidents have not affected his standing with Tesla investors, it has caused a negative public perception of Musk and has even prompted Tesla to issue a statement distancing itself from the comments made by Musk.
Pay
On top of his already massive net worth, Elon Musk stands to make even more money if certain milestones are met by the company he founded. Currently, Musk is eligible to receive stock incentives worth $56 billion if Tesla meets its performance targets, making him the highest-earning executive in history. To date, Musk has not received any of these stock awards and any such awards would be subject to approval by the Tesla board of directors.
Philanthropy
In addition to being a titan of industry, Elon Musk is also an avid philanthropist. He has donated money to organizations such as the American Red Cross and St. Jude’s Children’s Research Hospital. Musk has also launched several initiatives to promote space exploration and education, such as the SpaceX Aerospace Scholarship program, which provides scholarships to students who demonstrate excellence in science, technology, engineering and mathematics. Through such initiatives, Musk is able to use his success and influence to benefit others, making him a true example of a humanitarian leader.
Leadership Style
Elon Musk is renowned for his relentlessly driven and ambitious leadership style. He is an advocate of the ‘all-or-nothing’ approach and expects the same level of commitment and dedication from himself and his staff. Musk is a fierce believer in the power of innovation and has consistently pushed boundaries in order to achieve his goals. He has displayed a fierce loyalty to Tesla and is known to put the company’s interests and ambitions ahead of his own.
Employees
With over 45,000 employees worldwide, Elon Musk’s success as a CEO has become an inspiring story for many working in his companies. His hands-on approach to leadership and commitment to achieving success for both his employees and his businesses have created a cult-like following among his staff. According to Tesla employees, Musk’s spirit of continuous innovation and hard work keeps the entire team inspired and motivated.
Influence
Elon Musk’s success has had an immense impact on the tech world and beyond. He is one of the few people who can move market trends and shape public opinion through his own words and actions. As a result, he has become a powerful influencer on social media, as well as in the boardroom. His influence is reflected in the success of his companies, which have created entire new markets and industries.
Conclusion
Elon Musk’s influence and wealth continue to grow, with his net worth estimated to be $23.6 billion as of 2019. Musk has achieved immense success through his relentless and ambitious leadership style, inspiring a cult-like following among his employees. His influence has also made him a powerful influencer both online and offline, with the success of his companies creating entire new markets and industries. Musk continues to use his success and influence to benefit others, making him a true example of a humanitarian leader.
