1.Money
Money is the lifeblood of the global economy, and few people understand this better than Elon Musk. He is one of the wealthiest people in the world, with a personal net worth estimated to be north of $78 billion. This puts his wealth ahead of tech moguls like Bill Gates, Larry Ellison, and Larry Page while also making him the wealthiest person in the world under 50 years old. So, just how much money does Elon Musk make in one second?
2.Revenue
The answer depends on the time of year and how his various business endeavors are performing. In 2020, Elon Musk was estimated to make about $170,000 per second, with over $4 billion in revenue from his various companies such as Tesla Motors, Space Exploration Technologies, and SolarCity. While much of this income comes from Tesla, it is worth noting that Musk’s SpaceX is also responsible for approximately 20 percent of his income.
3.Tesla Stock
A majority of Elon Musk’s wealth comes from Tesla. The electric car maker has exploded in value in recent years, and 2019 was no exception. It grew an astounding 80 percent throughout the year, sending the company’s market capitalization above $80 billion. More recently, Tesla stock has skyrocketed even further, pushing the company market cap to an extraordinary $600 billion. As of 2021, Tesla stock is worth an estimated $845. This has sent Elon Musk’s earnings skyrocketing, and some estimates put his earnings at just under $500,000 per second.
4.Non-Tesla Sources of Income
While much of Elon Musk’s wealth comes from Tesla, it is worth noting that he still has many other income sources. He has multiple investments in other companies, such as PayPal and The Boring Company, which means he can reap profits from each of these companies as well. Additionally, Musk also makes money from speaking engagements, as well as consulting and writing for various magazines and websites. These added income sources further enhance his already substantial earnings, pushing him even closer to becoming the world’s first trillionaire.
5.Influence on the Market
It is no secret that Elon Musk has a dramatic influence on the stock market. Though this influence is not necessarily a bad thing, as he has been credited with helping to accelerate the development of green technologies, it can still have a large impact on the global economy. This is especially true when it comes to Tesla, as the company’s market cap has skyrocketed over the past year. When Tesla’s stock goes up, so does Elon Musk’s personal wealth, meaning he can make a large amount of money in a very short period of time.
6.Philanthropy and Investments
In addition to the money he makes from his various business ventures and investments, Elon Musk is also well known for his philanthropy. He has donated money to various charitable organizations, such as the Acumen Fund and Climate Change Solutions, and also established the Musk Foundation, which works to promote renewable energies and other initiatives. Elon Musk has also invested in various companies such as DeepMind Technologies, SolarCity, and many others, further boosting his already considerable wealth.
7.Taxes and Fees
Despite his considerable wealth, Elon Musk is still subject to the same taxes and fees as the rest of us. In addition to having to pay federal and state taxes, it has been estimated that he pays around 20 percent of his total earnings in various management fees and transaction costs. Though these fees can have a large impact on his overall earnings, they are still a fraction of what he would have to pay if he lived in a country such as the United Kingdom, which has a much higher tax rate.
8. Asset Management
In order to maintain his fortune, Elon Musk relies heavily on asset management techniques. He utilizes a diverse portfolio of investments, including stocks, bonds, and real estate, to ensure that his wealth does not become overly concentrated. He also uses an asset-allocation approach to minimize risk, as he seeks to maximize the long-term value of his investments. Through smart asset management, Elon Musk has been able to retain his wealth and secure his place atop the world’s wealthiest people.
9. Luxury Goods
Being wealthy also affords Elon Musk the opportunity to indulge in luxury. He owns multiple luxury cars, including a Ferrari, a Porsche, and a number of Tesla vehicles. He also has a passion for clothing, and is a fan of Italian fashion house Brunello Cucinelli. Though he may enjoy the finer things in life, Elon Musk is committed to his work, and puts much of his luxury purchases toward his charities and projects.
10.Giving Back
Beyond his philanthropic endeavors, Elon Musk is also committed to giving back in other ways. He often speaks about the importance of education and the value that can be generated through it. To that end, he has donated considerable sums of money to STEM (Science, Technology, Engineering, and Mathematics) fields, and donated his private jet to help facilitate the construction of an artificial intelligence research lab. Musk’s giving nature is a testament to his commitment to making the world a better place.
Conclusion
It is clear that Elon Musk is a remarkably wealthy individual. His wealth can come from many sources, and the amount of money he makes in one second can vary greatly depending on the time of year and how his various business endeavors are performing. Regardless of how much money he makes, Elon Musk is still dedicated to giving back, using his wealth to support various charities and projects with the goal of making the world a better place.
