How much does Elon Musk make a second?
Elon Musk is an entrepreneur, a self-made billionaire, the 2nd richest man in the world, and the new owner and CEO of Twitter.
Elon made his fortune by building and selling internet companies like Zip2 and PayPal, and then starting some of the world’s most successful businesses including Tesla and SpaceX.
Elon Musk made $161 billion dollars the last 10 years, which means he earns approximately $486.50 per second! Unlike most entrepreneurs and CEOs, Elon does NOT have a fixed salary. Instead, he makes all of his money by building and scaling his businesses like Tesla, SpaceX, and The Boring Company.
In this comprehensive guide we will teach you everything you need to know about Elon Musk’s income and salary, including how he manages to make almost $500 dollars per second!
We also answer your most important Elon Musk questions, including:
- Was Elon Musk born rich?
- How did Elon Musk make his money?
- Is Elon Musk really going to destroy Twitter?
…And much more!
We also give you Elon Musk’s best business advice for starting and scaling your own billion dollar company…
Elon Musk Complete Profile 2023
- Net Worth: $228 billion dollars
- Profession: Entrepreneur
- Monthly Income: $200 million +
- Yearly Income: $2.4 billion +
- Born: June 28, 1971
- Age: 51 years old
- Nationality: South African
- Citizenship: United States
- Zodiac Sign: Cancer
- Partner: Grimes (2018 – present)
How Much Does Elon Musk Make A Second?
Elon Musk is the 2nd richest man in the world, with an estimated net worth of approximately $164 billion dollars as of 2023.
Unlike most CEOs and entrepreneurs, Elon Musk does NOT have a fixed salary. Instead, he makes money by building and investing in profitable companies like Tesla, SpaceX, and Twitter.
As these companies increase in value, so does his net worth!
In fact, his net worth is growing so fast that he makes almost $500 dollars per second!
“I think that’s the single best piece of advice: constantly think about how you could be doing things better and questioning yourself.”
It may sound unfair that Elon Musk makes almost $500 dollars per second, as this is more than most people make in an entire day!
However, Elon Musk says it is absolutely fair, as anyone has the opportunity to start their own company just like he did.
Elon Musk Income Per Second
- Per Second: $486.50
- Per Minute: $29,200
- Per Hour: $1.75 Million
- Per Day: $42 Million
- Per Week: $294.2 Million
- Per Month: $1.3 Billion
- Per Year: $15.3 Billion
Elon Musk makes about $500 dollars per second, $30,000 dollars per minute, $2 million dollars per hour, $40 million dollars per day, $300 million dollars per week, $1 billion dollars per month, and $15 billion dollars per year!
You might be wondering how much taxes Elon Musk has to pay.
The truth is he doesn’t have a salary, so he doesn’t have to pay any taxes!
Instead, he keeps all of his money invested in stocks, and he only has to pay money on his stocks if he actually sells them.
What Is Elon Musk’s Net Worth?
Elon Musk has a net worth of $164 billion dollars as of 2023.
Elon’s net worth peaked in November 2021 at $340 billion dollars, making him the richest man in the world. However, his net worth took a hit in 2022 when the stock market crashed, and today he is only the second richest man in the world, right behind Bernard Arnault.
Despite his financial success, Elon says he is motivated by doing useful things for humanity, rather than just making money.
“I think life on Earth must be about more than just solving problems… It’s got to be something inspiring, even if it is vicarious.”
So how did Elon Musk build his net worth in the first place? After all, you can’t just start rocket companies and electric car companies out of nowhere!
The truth is Elon Musk got rich by building and selling internet companies, and then investing those funds into other companies.
How Did Elon Musk Get Rich?
- Sold Zip2 in 1999 for $22 million
- Sold PayPal in 2002 for $180 million
- Founded SpaceX in 2002, now worth $62 billion
- Founded Tesla in 2004, now worth $64 billion
- Purchased Twitter in 2022, now worth $42 billion
Elon Musk first became a millionaire by building and selling Zip 2 for $20 million dollars in 1999, and then building and selling PayPal for $180 million dollars in 2002.
After he sold PayPal, Elon decided to reinvest his money into different companies like Tesla, SpaceX, and SolarCity.
“I always invest my own money in the companies that I create. I don’t believe in the whole thing of just using other people’s money.
I don’t think that’s right. I’m not going to ask other people to invest in something if I’m not prepared to do so myself.”
Elon Musk’s investments paid off, and today all of his companies are extremely profitable.
Elon Musk Net Worth By Year
- January 2013: $2.7 Billion
- January 2014: $8.0 Billion
- January 2015: $10.5 Billion
- January 2016: $11.8 Billion
- January 2017: $10.7 Billion
- January 2018: $20.4 Billion
- January 2019: $22.3 Billion
- January 2020: $28.5 Billion
- January 2021: $170 Billion
- January 2022: $270 Billion
- January 2023: $156 Billion
How Did Elon Musk Make His Money?
Elon Musk is one of the richest billionaires in the world today, with a net worth of approximately $164 billion dollars.
But how did he build his make his money?
The truth is Elon Musk made his money by building and investing in some of the world’s most expensive companies, including PayPal, Tesla, and SpaceX.
He never takes a salary from his companies. Instead, he goes all-in on making the businesses as profitable as possible, and he benefits from stock appreciation in these companies.
“I don’t create companies for the sake of creating companies, but to get things done.”
Here is a list of every business Elon Musk has owned during his career:
List Of Elon Musk Businesses
- Business #1: Zip2
- Business #2: PayPal
- Business #3: SpaceX
- Business #4: Tesla
- Business #5: SolarCity
- Business #6: OpenAI
- Business #7: Neuralink
- Business #8: The Boring Company
- Business #9: Twitter
Let’s take a closer look at Elon’s three most important businesses: PayPal, SpaceX, and Tesla…
Elon Musk Makes Money With PayPal
Elon Musk started PayPal in 1999, right after he sold Zip2 for $20 million dollars.
Elon believed the internet was the way of the future, and he wanted to build an online bank where people could perform all of their online financial transactions in one place.
Elon says this is a central theme in all of his companies: he is trying to do useful things to improve the future of humanity.
“Going from PayPal, I thought:
‘Well, what are some of the other problems that are likely to most affect the future of humanity?’
Not from the perspective, ‘What’s the best way to make money?’”
PayPal was wildly successful, and in 2002 Elon Musk sold his company for a whopping $180 million dollars.
Elon then used this money to fund his next projects, including SpaceX and Tesla.
Elon Musk Makes Money With SpaceX
Elon Musk started SpaceX in 2002, right after he sold PayPal.
Elon says his motivation for starting SpaceX was simple: he wanted to send humans to Mars, colonize the red planet, and ultimately make humans a multiplanetary species.
“To our knowledge, life exists on only one planet, Earth. If something bad happens, it’s gone.
I think we should establish life on another planet – Mars in particular – but we’re not making very good progress.
SpaceX is intended to make that happen.”
Elon Musk’s company has been a wild success, and he currently makes money through Starlink (his SpaceX internet service provider) and by fulfilling NASA contracts.
He intends to send the first humans to Mars by 2030 at the very latest.
Elon Musk Makes Money With Tesla
Elon Musk started Tesla after SpaceX, but today it is his biggest and most profitable company. Tesla has one simple goal: to make electric vehicles affordable for people all over the world.
Musk views climate change as a serious challenge for humanity, and he wants to do everything in his power to tackle this issue in a positive way.
“I have optimism, but I’m realistic.
It’s not with the expectation of great success that I started SpaceX or Tesla…
It’s just that I thought they were important enough to do anyway.”
Elon Musk’s best paid off, and today Tesla is the most valuable car manufacturer in the world, with a market cap of more than $1 trillion dollars.
Is Elon Musk The Richest Person In The World?
Elon Musk is the 2nd richest man in the world with an estimated $164 billion dollar net worth.
He used to be the richest man in the world, with a peak net worth of $360 billion dollars. However, the stock market crashed in 2022, and when this happened he lost more than half of his net worth!
The 10 Richest People In The World (Updated 2023)
- Bernard Arnault – $180 billion
- Elon Musk – $164 billion
- Gautam Adani – $134 billion
- Bill Gates – $108 billion
- Jeff Bezos – $108 billion
- Warren Buffett – $105 billion
- Larry Ellison – $103 billion
- Mukesh Ambani – $102 billion
- Steve Ballmer – $91 billion
- Larry Page – $81 billion
Elon Musk may be trailing Bernard Arnault in the net worth standings, but he is confident that he will be back on top sometime in 2023.
Was Elon Musk Born Rich?
Contrary to popular belief, Elon Musk was NOT born rich. His parents were very poor, and were unable to pay for his college education.
By the time Elon graduated from college he had more than $100,000 dollars in student loan debt!
Fortunately he was able to start multiple successful companies and pay off his loans. However, his childhood was definitely not easy. He says the only advantage he had growing up was his intelligence.
He spent his free time reading books in the library, and playing around with different business ideas in his head.
“I don’t spend my time pontificating about high-concept things; I spend my time solving engineering and manufacturing problems.”
Elon Musk says he wanted to be an engineer and invent things, because that was the best way for him to use his skills to help humanity.
He majored in business and engineering in college because he felt if you wanted to change the world, you had to understand how physics and the economy worked.
Elon actually went to graduate school, but he dropped out after 2 days to work on his first business Zip2.
“When I was in college, I wanted to be involved in things that would change the world.”
Today Elon Musk is wildly rich, and has enough money to afford a family of 10 children.
Why Did Elon Musk Buy Twitter?
Elon Musk bought Twitter in August 2022 for a whopping $44 billion dollars.
Many people believe Elon Musk must be a super villain, hell-bent on undermining democracies all over the world! So what does he have to say about these accusations?
The truth is Elon Musk bought twitter because he was concerned about the direction of the social media platform.
He believes it is essential for the future of humanity that we have a “digital town square” where people can freely exchange ideas and debate each other.
Of course, Elon knows that Twitter cannot become a free-for-all where you can post anything, including illegal content…
“Twitter obviously cannot become a free-for-all hellscape, where anything can be said with no consequences!”
However, Elon Musk does believe the previous policies were too restrictive, and he has started allowing controversial figures back onto his platform, including Andrew Tate and Donald Trump.
Elon says it is going to be difficult to make Twitter a truly competitive company, as the company was previously not earning very much money.
Fortunately, Twitter now has record traffic, and it looks to be making more money than ever!
“Going forward, to build a breakthrough Twitter 2.0 and succeed in an increasingly competitive world, we will need to be extremely hardcore.
This will mean working long hours at high intensity.”
Some people believe that Elon Musk has ulterior motives for buying twitter, such as undermining the United States democracy.
However, so far he does not appear to be the world’s biggest super villain, as some have suggested.
Elon Musk Frequently Asked Questions
- FAQ #1: Where does Elon Musk live?
- FAQ #2: How did Elon Musk get started?
- FAQ #3: How did Elon get rich during the pandemic?
- FAQ #4: How fast can you make Elon Musk money?
- FAQ #5: How fast can you spend Elon Musk money?
- FAQ #6: Did Elon Musk inherit money?
- FAQ #7: Is Elon Musk really going to Mars?
Let’s take a closer look at each of these questions.
Where Does Elon Musk Live?
Elon Musk currently lives in a $50,000 dollar home in Austin, Texas.
He previously lived in one of his $10 million dollar mansions in Los Angeles, California. However, he recently decided to move to Texas is it is a more business friendly state.
How Did Elon Musk Get Started?
Elon Musk got started as an entrepreneur by building different internet websites like Zip2 and PayPal.
After that, he transitioned to building real-world companies like Tesla and SpaceX.
How Did Elon Get Rich During The Pandemic?
Elon Musk got rich during the pandemic because the stock price of Tesla, SpaceX, and other companies increased significantly.
Elon owns almost 14% of Tesla alone, so as Tesla’s market cap increased, so did his net worth.
How Fast Can You Make Elon Musk Money?
Elon Musk has a net worth of $164 billion dollars. The average person in the United States makes about $70,000 dollars per year.
If the average person saved 100% of their money, it would take 23.4 million years to make “Elon Musk money.”
How Fast Can You Spend Elon Musk Money?
There is a new game called “Spend Elon Musk Money” which gives you 30 seconds to spend Elon Musk’s $160 billion dollar fortune.
If you spend all of Elon’s money in 30 seconds, you win the game!
Did Elon Musk Inherit Money?
Elon Musk did not inherit any money. Instead, he became a millionaire by selling Zip2 in 1999 for $20 million dollars.
Is Elon Musk Really Going To Mars?
Yes, Elon Musk is really going to Mars.
He wants to send the first humans to Mars by 2030 at the very latest, and after that, he wants to go there himself!
Verdict | How Much Does Elon Musk Make Per Second?
So what’s the verdict… how much does Elon Musk make per second?
Elon Musk increased his net worth by approximately $160 billion dollars over the past 10 years. This means he makes approximately $500 dollars per second!
The average person makes about $70,000 dollars per year in the United States, which means it would take them approximately 23.4 million years to become as wealthy as Elon Musk!
Elon says the fastest way to increase your income and make more money per second is to start your own successful business.
And based on his results, it looks like he is right!
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