Elon Musk is a figure of awe and mystery mixed with the audacity of remarkable accomplishments. He is considered one of the world’s foremost billionaires and the most inventive entrepreneurs in the world of innovation, business and engineering. Elon is currently worth US$115 billion, with an estimated annual salary of US$30million. But how does someone make this kind of money? Here, we will discuss how Elon Musk makes money every second of every minute of every day, from his different venture and investments.
Let’s start by looking at Elon’s stock holdings. Despite having a net worth of US$115billion, a considerable part of it is due to his hefty stake in Tesla. As revealed in filings by the company, the CEO currently holds 33.7million Tesla shares alone, which amounts up to 20.8% of the total share. The current stock price of Tesla stands close to US$800 and with the figure being optimistic with its report of profits, Musk makes approximately US$10M every second, with no sign of slowing soon.
Not only this, but he owns shares in SpaceX and The Boring Company as well. As of March 2021, SpaceX shares are currently valued at US$351.45 and Musk has a 25.9% stake in the company. There are 54.6 billion outstanding shares of SpaceX, which leaves Musk with 14.2 billion shares valued at US$5 billion. Musk’s stake in The Boring Company is currently valued at US$25million, amounting to 10.3% share. With these values combined, Elon is making around US$830million every second.
In addition to this, Elon Musk has also invested in several other companies. He has invested US$500 million in a solar power plant called SolarCity. He also holds US$200 million worth of stake in OpenAI artificial intelligence project and US$100 million in electric vehicle startup, XPeng. Musk’s real wealth comes through his net worth as an investor,and he makes around US$740million each second from these investments.
Elon Musk also owns numerous properties across the world,but his Los Angeles estate is his most impressive asset. The estate was bought for US$4.412million in 2012 and consists of a 47,000 square foot lot with seven bedrooms, nine bathrooms, a swimming pool and a theater. The home ownership adds US$40million to Musk each second.
Elon Musk’s Sponsorship Deals
Elon Musk also earns money from his various sponsorship deals. In October 2018, he signed a sponsorship deal with the electric car company, Tesla. The sponsorship was worth US$1.2billion and includes a variety of perks, such as free advertising, free Tesla vehicles and the ability to use Tesla’s charging infrastructure. With this deal, Musk is making US$6.5million every second.
Musk also has several other sponsorship deals, which includes a deal with the clothing company Uniqlo. This deal was signed in 2019 and is worth US$135million. With this deal, Elon makes US$755million each second.
However, that’s not all. Musk has also signed a deal with an energy drink company, and this deal is said to be worth US$5.5billion. This deal gives Tesla control over the company’s energy drink sales and would generate income for Musk at a rate of US$32million each second.
Elon Musk’s Other Ventures
In addition to his various investments and sponsorship deals, Elon also earns money from his other ventures. Musk currently is the founder and CEO of a non profit organization, the X Prize Foundation. The organization rewards inventors, innovators and scientists who work towards solving major problems facing humanity. Elon Musk makes US$20 million each second from this venture.
Musk also owns his own aerospace manufacturing company, Space X Corporation, which develops and manufactures launch vehicles and spacecraft. Musk earns approximately US$49million each second from Space X, making it one of his most lucrative investments.
Elon also founded a company called Neuralink which is an AI based medical device development company. This company is working towards creating implants that could create a “direct communication between the human brain and a computer”. Neuralink currently has a valuation of US$100billion, which brings Musk an estimated US$595million each second.
Technology behind Elon Musk’s Ventures
Elon Musk’s ventures are only possible because of the use of cutting edge technology. The technology behind his businesses is what enables him to generate millions of dollars every second. Elon Musk has invested heavily in Artificial Intelligence (AI) and robotic automation, which has allowed his businesses to run efficiently and generate massive profits. Automated robots are used to manufacture Tesla cars, which results in much faster production, as well as quality improvements. Musk has also invested in Machine Learning and Big Data, which allows his companies to make better decisions and better understand customer needs.
In addition to AI and robotics, Musk is also heavily invested in renewable energy technologies such as solar and wind. Musk’s SolarCity project, which serves as a solar power plant, provides renewable energy to customers, resulting in cost savings, as well as less pollution. Musk has also invested in space exploration technologies such as rockets and space suits. These technologies have allowed his company, SpaceX, to launch rockets into space and develop new forms of transportation.
Voluntary Contributions from Elon Musk
Elon Musk has a long history of philanthropy, especially in the field of education and science. Musk has donated a total of US$2.5 billion over the course of his career. He has donated a total of US$100 million to creating a foundation for child health care and education. Additionally, Musk has donated US$50 million to a non profit organization that works towards creating green energy technology and another US$25 million to an organization which helps protect and conserve wildlife.
In addition to donations, Elon has also made voluntary contributions to his companies and to charities nationwide. In 2020, he donated US$70 million to SpaceX to further its mission. In 2017, he made a voluntary contribution of US$11 million towards the development of artificial intelligence technology. Moreover, Musk has also contributed US$250 million to charity organizations such as the Red Cross, World Vision and Habitat for Humanity.
Elon Musk’s Popularity on Social Media
Elon Musk is the most influential person on social media and has a social media reach of 5.3 billion people. He is followed actively by over 36 million followers on Twitter alone and has attracted around 50 million views on his recent TikTok account. His influence on social media has made him a global celebrity and has resulted in numerous deals and opportunities for his companies.
Musk has leveraged his influence on social media to promote his businesses and their products. He is also actively involved in promoting the idea of sustainability and renewable energy through his social media accounts. Additionally, Musk is also outspoken about his personal opinions, often sparking debates on the hot topics of the day, such as the election cycle in the U.S.
Such a presence has enabled Musk to create a powerful global personal brand. His social media reach has allowed him to launch campaigns for his businesses as well as attract more people to his ventures. As a result of his presence online, he is able to generate US$150million each second from his various ventures.
Conclusion
Elon Musk is a multi-billionaire and currently one of the wealthiest and most influential people in the world. His ventures have been incredibly successful and have earned him billions of dollars in profits. Musk’s wealth is generated largely through his stock holdings,investment in companies, sponsorship deals and other ventures. Additionally, Musk also contributes to charity and is heavily involved in the promotion of renewable energy and sustainability. With all of these activities, Elon Musk makes approximately US$2050million each second.
