Elon Musk is without a doubt one of the wealthiest people in the world, and is a household name for much of the tech world and internet at large. As CEO of Tesla Motors, SpaceX and The Boring Company, Musk has built a formidable portfolio of companies and projects, which he oversees regularly. But what does Elon Musk make per minute?
According to Statista, Musk’s present net worth stands at over 86 billion dollars, part of which is thanks to his yearly Tesla salary which amounts to one dollar. But with such a huge wealth and a salary of a dollar per year, it begs the question what does Elon Musk make per minute?
It is hard to calculate, since much of his wealth comes from the stock prices of Tesla and SpaceX, and the amount his companies earn cannot be accurately measured and calculated. However, one can measure his assets, since Musk’s portfolio consists of many valuable companies and assets, some of which generate profits on their own and some that are part of the public markets. According to an estimation by Business Insider, Musk’s assets are estimated to be worth $37.9 billion.
To further estimate Musk’s wealth per minute, using the above figure, one can roughly calculate it by dividing Musk’s estimated wealth to the amount of time he could expect to live: 86 billion dollars divided by 79 years gives us 1,096,371 dollars per minute. However, this figure is merely an estimate, as it does not take into account the rise and fall of stock prices and other factors. In other words, it could be said that Musk makes $1,096,371 dollars a minute, or at least he is estimated to make at least that much.
Additionally, it is worth noting that Musk does have other sources of income beyond his stock holdings, as he also has investments in other companies, such as real estate, as well as his role as a CEO in Tesla and The Boring Company. In addition, Musk has also made investments in tech startups, such as Neuralink, and a stake in a space exploration venture called Starlink. All in all, Musk’s wealth per minute is hard to calculate, but the above estimation gives us an idea of how much he is likely to make.
Income Derived From Investments
Musk’s wealth also includes investments in various companies, both public and private. His stake in Tesla and SpaceX, along with his other investments, gives him a significant amount of money. For instance, he reportedly holds an 8.5% stake in Tesla, which Forbes estimates his worth to be around $8.4 billion
Musk also has investments in various companies and investments in the form of stocks, bonds, mutual funds and venture capital. In addition, he has reportedly made investments in private companies, such as Neuralink. Therefore, it can be said that Musk’s wealth comes from many different sources, and his investments in these companies can be estimated to be cumulatively worth millions of dollars every minute.
Moreover, it is estimated that Musk also earns income through dividends and profits through his investments, which would further contribute to his wealth per minute. For example, his 8.5% stake in Tesla alone earned him $346 million in dividends in 2019, according to Investopedia. This number is in addition to the estimated figure mentioned above; hence it can be said that Musk indeed has a large stream of income generated from investments.
Musk’s investments, stocks and dividends further add to his wealth, proving that he makes a huge sum of money every minute, at least according to estimations.
Wealth Explained By Risk and Reward
Risk and reward are two words that beautifully explain Musk’s wealth. Putting it simply; Musk is like a business owner. He invested and took risks with his money and these risks earned him a significant reward. In other words, the more risks Musk takes, the higher the reward.
For instance, when Musk put out the launch of the Tesla Model S, which was the company’s first mainstream car, he had to put in a large amount of money to get it off the ground. However, his risk paid off and his reward was larger than most people would have imagined. Even now, this car continues to drive the success of Tesla.
Similar to Tesla, Musk also took risks when he decided to invest in SpaceX, investing all his money in order to pursue his dream of space exploration. His risk again paid off, as SpaceX recently became the first private company to launch humans into space. This success further increased Musk’s wealth and his wealth per minute, adding another source of income.
It can be said that Musk’s wealth stems mainly from risk and reward. The more risks he takes and the more successful they turn out to be, the higher amounts he earns per minute. In fact, other successful business tycoons also tend to attribute most of their wealth to taking risks and anticipating the rewards.
Tesla is one of the most successful companies in the world, and its share prices have been on the rise recently. According to Investopedia, Tesla’s stock price has increased from $208 in January 2020 to $808 in March 2021. This rise in Tesla’s stock price has seen Musk’s wealth per minute grow exponentially. For instance, in 2021 Musk held an estimated 35 million Tesla shares, according to Reuters. Furthermore, according to the same article, Musk’s wealth increased approximately $3 billion in a single day due to the increase of Tesla’s share price.
The increase in Tesla’s stock price is largely attributed to the success that the company has been achieving, such as its successful ventures into selling electric cars and its plans of venturing into the energy sector as well. All these successes contribute to the rise in Tesla’s stock prices, thus increasing Musk’s wealth per minute.
However, it is worth noting that despite the increase in Tesla’s stock prices, the company does have its detractors—it has been criticized for its environmental impact, questionable management strategies, and capital allocation. Additionally, Tesla’s stock prices could also decrease in the future, thus affecting Musk’s wealth per minute.
Nevertheless, as of now, Tesla’s stock prices are on the rise and so is Elon Musk’s wealth per minute. Thus, what Elon Musk makes per minute can be largely attributed to the success of Tesla’s ventures and the increase in its stock price.
Growth of the Gig Economy
It is worth noting that Tesla and SpaceX are not the only entities Musk has to thank for his wealth per minute. The rise of the gig economy, where independent contractors sell their services to companies, adding to Musk’s wealth.
For instance, The Boring Company, which was founded by Musk, has more than 10,000 contractors who do various tasks such as engineering, construction, design, and data science. These contractors are paid for their work, and their income in turn adds to Musk’s wealth per minute. Furthermore, with the advent of the gig economy, many freelancers use their services to increase their wealth, both financially and creatively.
In addition, the gig economy gives these freelancers the flexibility to decide on their own workflow, determine their own hours, and even own their own projects, allowing them to be their own bosses. This kind of flexibility, freedom and variety has led to the rise of the gig economy and has contributed significantly to increasing Musk’s wealth per minute.
The gig economy is constantly growing, and more and more people are turning to freelancing to increase their income. This is a trend that is likely to continue, and it provides another avenue for Musk to make money per minute.
Social Impact on His Brand
In addition to the aforementioned factors, Musk’s wealth per minute can also be attributed to his brand and his presence on social media. Musk is highly visible on platforms like Twitter, where he interacts with fans, shares updates, and gives insights into his companies.
This presence has enabled Musk to build a brand and a loyal following, which in turn has boosted the sales of Tesla and SpaceX, as well as other companies Musk is associated with. In fact, according to a study by the New York Times, Musk’s presence on Twitter alone has helped him increase his wealth by billions of dollars.
Thus, it can be said that Musk’s wealth per minute is being driven not only by his investments and the performance of his companies, but also by his social media presence and the impact that it has on his brands.
To conclude, Elon Musk’s wealth per minute is hard to accurately calculate, but it is estimated to be at least 1 million dollars. Much of this wealth is driven by his investments, stocks, dividends, and positive performance of his companies. Additionally, factors such as the rise of the gig economy, growth in Tesla’s stock prices, and social media presence have also played a role in increasing Musk’s wealth per minute.
