Ever wondered, “How much does Elon Musk make a day?”

The answer might astound you!

The world’s wealthiest individual and the head of multiple revolutionary firms, Elon Musk’s income is a matter of curiosity for many.

Elon Musk earns more in a single minute than most people do in an entire year, according to data from the Bureau of Labor Statistics.

Musk’s net worth is staggering, but where did it all come from?

To gain a better understanding of the magnitude of Elon Musk’s wealth, we’ll compare his hourly earnings to that of an average person and explore his net worth through Bloomberg Billionaires Index. We’ll also explore his vast wealth by looking at Bloomberg Billionaires Index.

We even answer your most important questions, including:

  • How many shares of Tesla does Elon Musk own?
  • How did Elon Musk make so much money during the pandemic?
  • Is Elon Musk really a self-made man?

…And much more!

In this in-depth guide, we will take you through his various business ventures such as SpaceX and The Boring Company that have contributed significantly to his estimated net worth.

“I think it is possible for ordinary people to choose to be extraordinary.” — Elon Musk

“So how much does Elon Musk make a minute?”  Let’s find out!

Who Is Elon Musk?

Elon Musk, born in 1971, is a renowned entrepreneur and business magnate. 

He is a renowned innovator who has established numerous successful technology firms, such as Tesla Inc., SpaceX, Neuralink and The Boring Company.

Born and raised in Pretoria, South Africa, Musk moved to the United States at 17 years old to continue his education. 

His entrepreneurial journey began when he dropped out of graduate school to start Zip2 Corporation – a city guide software company he co-founded with his brother Kimbal Musk.

Musk’s Journey To Success

In 1999, Compaq acquired Zip2 for $307 million. This marked the start of Musk’s accomplishments as an entrepreneur. 

After his successful sale of Zip2, Musk went on to co-found X.com which eventually became PayPal – a widely used online payment platform worldwide.

eBay bought PayPal in 2002 for $1.5 billion – giving Elon Musk a cool $200 million payout! 

This gave Elon enough capital to start new ventures like SpaceX, aiming to reduce space transportation costs to enable colonization of Mars.

Tesla Motors And SolarCity

Musk joined Tesla Motors (now Tesla Inc.) as chairman in 2004 before becoming its CEO later on. Under his leadership, Tesla has grown into a leading electric vehicle manufacturer, revolutionizing automobile industry standards worldwide.

Tesla is now the most valuable automobile company in the world worth a whopping $66 billion!

The Future Of Technology With Neuralink And The Boring Company

Apart from Tesla and SpaceX, Musk also founded Neuralink – working towards integrating artificial intelligence with human brains, and The Boring Company that aims to solve traffic congestion through underground tunnels.

A Man Of Many Hats

In addition to being an inventor and engineer, Musk has made significant contributions across various fields such as renewable energy (SolarCity), telecommunications (Starlink), and infrastructure development (Hyperloop), making him one of today’s most influential tech leaders globally.

How Much Does Elon Musk Make A Day?

The earnings of Elon Musk, the tech mogul and billionaire, are truly staggering. As one of the richest people in the world, his income is a subject of fascination for many.

So, how much does Elon Musk make a day?

To understand this, we need to break down his earnings per day. Reports suggest Elon Musk doesn’t get a traditional salary. Instead, he makes most of his money from stock packages and bonuses from his companies like Tesla and SpaceX.

Musk’s salary from Tesla Inc., where he serves as CEO, is technically $0; however, his compensation plan ties him heavily into the company’s success. He earns based on market capitalization milestones and operational targets set by Tesla’s board.

This unique payment structure means that calculating Musk’s hourly wage isn’t straightforward

What we DO know is that Elon Musk’s net worth increased from $19.9 billion in 2018 to a whopping $234 billion in 2023! 

Using these figures, we can make some simple calculations about how fast Elon Musk actually makes money:

Elon Musk Salary Per Second, Minute, Hour, Day

  • Per Second: $1,376
  • Per Minute: $82,600
  • Per Hour: $4.96 Million
  • Per Day: $118.94 Million
  • Per Month: $3.57 Billion
  • Per Year: $42.82 Billion

Looking at these numbers, our verdict is clear:

Elon Musk makes approximately $118.94 million per day! This is truly astonishing, as the average American doesn’t make this much money in their entire lifetime! 

Elon Musk also makes $1,376 per second (whether he is actually working or not), $82,600 per minute, and $4.96 million per hour (again, more than most people make before retirement). 

Note, though, that this calculation fluctuates depending on his companies’ stock performance.

Beyond Tesla, Elon has multiple streams of income. His stakes in SpaceX and other ventures also contribute significantly to his wealth accumulation rate. Thus, when considering all these factors together,

How Long It Takes Elon Musk to Earn Your Salary

Ever wondered how long it would take Elon Musk, the CEO of Tesla and SpaceX, to earn your annual salary? The answer might surprise you.

In fact, according to a recent study by Business Insider, it takes Elon Musk just under one minutes to earn the median US worker’s yearly wage.

This calculation is based on his 2023 earnings reported by Forbes. 

Given that he works an estimated 80 hours per week (as stated in various interviews), this means that every minute of his workday is incredibly valuable.

To put things into perspective:

  • If you’re earning $50,000 annually, Elon Musk makes your yearly income in approximately thirty-eight seconds.
  • For the top earners making around $100k/yr, Musk earns that amount in a mere one minute and thirteen seconds!
  • And if you’re part of the top earners making around $500k annually – well…Musk earns that amount in less than six minutes…

The speed at which he accumulates wealth can be staggering for most people to comprehend, but remember: this level of financial success didn’t happen overnight. 

It took years of hard work, innovation, and risk-taking from Musk’s side.

Making comparisons between our salaries and those earned by billionaires like Elon Musk can seem disheartening or even absurd due to the vast disparity. 

However, understanding how they got there, their mindset towards money-making ventures could provide us with valuable insights into achieving our own financial goals.

What is Elon Musk’s Net Worth?

The financial success of tech mogul Elon Musk has been nothing short of astounding. 

As the CEO and lead designer at SpaceX, as well as the CEO and product architect for Tesla Inc., his ventures have led to a significant accumulation of wealth.

In 2023, he surpassed Amazon founder Jeff Bezos to become the richest person in the world.

Musk’s Fortune Over The Years

Musk’s net worth has seen dramatic increases over recent years, largely due to Tesla’s stock price soaring. In fact, his fortune grew by more than $150 billion within a year – an unprecedented increase in personal wealth.

Elon Musk’s net worth has also benefited from his other companies like SpaceX, Twitter, The Boring Company, and more.

Tesla Stocks And Wealth Increase

A hefty chunk of Musk’s riches originates from his shares in Tesla. He owns about 20% of the company’s stocks plus options. 

With Tesla’s market value skyrocketing, so too did Musk’s net worth.

The Impact Of Other Ventures On His Net Worth

Beyond Tesla, other business ventures also contribute significantly to Elon Musk’s net worth. 

For instance, SpaceX – valued at around $100 billion – accounts for approximately one-tenth of his total fortune.

Diversification Of Investments

Musk has diversified investments across multiple industries, including solar energy (SolarCity), neurotechnology (Neuralink), high-speed transportation (The Boring Company), and artificial intelligence (OpenAI). 

These varied sources not only bolster his net worth but also showcase his innovative spirit and commitment towards creating a sustainable future.

Selling Off Assets

In 2023, Elon announced plans on Twitter that he intended to sell almost all physical possessions, including his homes and real estate. 

While this move was met with skepticism initially, it later turned out that selling off assets could potentially minimize distractions, allowing him to focus more on Mars colonization and development projects like Starship.

Elon Musk Net Worth By Year

The rise of Elon Musk’s net worth over the years is nothing short of phenomenal. 

The tech mogul, who was born in South Africa and later moved to the United States, has seen his wealth increase exponentially due to his various business ventures.

In 2010, Elon Musk had a net worth of approximately $800 million, according to Forbes. This figure increased significantly in subsequent years as he continued investing in technology and space exploration.

  • In 2011: His net worth rose to about $2 billion.
  • In 2012: It jumped again to around $4 billion.
  • In 2013: He saw an increase up to roughly $6.7 billion.
  • In 2014: His fortune reached nearly $8.8 billion.

This upward trend continued with remarkable consistency throughout the following years. 

In fact, by 2023, Elon Musk’s net worth skyrocketed!

  • In 2015: Musk’s wealth grew further, reaching approximately $12.1 billion.
  • In 2016: It dropped down to $10.7 billion.
  • In 2017: It escalated dramatically, crossing the mark of $$13.9 billion.
  • In 2018: His wealth soared up to nearly $20 billion.
  • In 2023: Elon Musk’s net worth jumped dramatically, reaching a staggering amount estimated at more than $1234 billion.

This rapid accumulation of wealth can be attributed primarily to his leadership roles at Tesla and SpaceX, among other investments that have yielded substantial returns over time.

What Business Ventures Has Elon Musk Invested In?

Known for his innovative spirit and entrepreneurial prowess, Elon Musk has invested in a variety of business ventures. His investments span across multiple industries, from technology to transportation and beyond.

Musk’s most notable venture is SpaceX, an aerospace manufacturer and space transport services company he founded in 2002. 

The goal? To reduce the cost of space travel and make human life multiplanetary.

Tesla Inc., another one of Musk’s major investments, is a world-renowned electric vehicle manufacturing company. It aims to accelerate the advent of sustainable energy by producing increasingly affordable electric vehicles.

  • SolarCity: Musk co-founded SolarCity, which was later acquired by Tesla, making it a subsidiary.
  • The Boring Company: A tunnel construction service firm aiming at reducing traffic congestion through underground tunnels.
  • Neuralink: An ambitious project that works on developing implantable brain-machine interfaces (BMIs).
  • Twitter: Elon Musk acquired the social media platform in 2023 in an attempt to preserve free speech and protect the institution of Democracy in the United States and elsewhere in the world.

Beyond these well-known companies, Musk has also dabbled in artificial intelligence with OpenAI; high-speed transportation with Hyperloop; neurotechnology with Neuralink; infrastructure and tunneling services with The Boring Company; among others.

In addition to these businesses, Musk made headlines when Tesla invested $1.5 billion into Bitcoin. 

This move not only bolstered the cryptocurrency market but also indicated Musk’s belief in digital currencies as future financial systems.

Moving away from tech-based ventures, Musk surprised everyone when he launched ‘The Boring Bricks’ – eco-friendly bricks produced using leftover dirt from The Boring Company’s tunneling projects. 

He even ventured into music, releasing his own EDM track.

No matter what industry or sector they fall under, all of Elon Musk’s ventures have one thing in common – innovation at their core!

What Are Some of Elon Musk’s Most Notable Achievements?

Elon Musk, the visionary behind companies like Tesla and SpaceX, has a long list of impressive achievements under his belt. 

His innovative ideas have revolutionized multiple industries, from automotive to space travel.

Musk’s first major success came with Zip2, a software company he co-founded in 1996. Compaq acquired it for $307 million in cash and $34 million in stock options in 1999.

In 2002, he founded SpaceX with the goal of reducing space transportation costs to enable colonization of Mars. In 2002, Musk founded SpaceX with the ambition to revolutionize space transportation costs and enable human colonization of Mars.

Tesla Motors, which Musk joined as chairman and product architect in 2004, has transformed electric vehicles into a mainstream choice for consumers around the world. Under his leadership, Tesla launched several groundbreaking models including Roadster, Model S, Model X, and Model 3.

Musk also co-founded companies including:

  • SolarCity (now part of Tesla), which is one of America’s largest solar energy services providers
  • OpenAI, which aims to ensure artificial general intelligence benefits all humanity
  • Neuralink, which develops implantable brain-machine interface devices
  • The Boring Company, aimed at making tunneling cheaper to alleviate traffic congestion on roads.

In addition, Time magazine named him the Time Person Of The Year in 2021!

Elon Musk’s vision for future technologies and determination are truly remarkable traits worth emulating.

How Does Elon Musk Spend His Money?

As one of the world’s wealthiest individuals, Elon Musk‘s spending habits are a topic of intrigue for many. What does Elon Musk do with his individual wealth outside of investing in his businesses?

Musk’s Real Estate Investments

The tech mogul has made significant investments in real estate over the years. He once owned multiple properties in Los Angeles worth millions of dollars each. He recently declared on Twitter that he’s going to be offloading the majority of his physical assets, including his houses.

He also moved into a tiny $50,000 apartment in Austin, Texas.

According to Business Insider, this move aligns with Musk’s vision for a sustainable future where we own fewer material goods.

Musk and Philanthropy

Beyond property investments, Elon Musk is also actively involved in philanthropic efforts. In 2002, he established the Musk Foundation, which provides grants for renewable energy research and advocacy, among other causes.

In recent years, Forbes reported that Musk donated $100 million towards a prize to develop technology capable of removing carbon dioxide from the atmosphere or ocean – another testament to his commitment towards sustainability.

Luxury Items and Personal Interests

Like any billionaire, Elon enjoys some luxury items as well – though perhaps not as much as others might expect given his vast fortune. 

For instance, CNBC detailed how back in 2013, he bought James Bond’s Lotus Esprit submarine car at an auction for nearly $1 million.

Towards A Sustainable Future: SpaceX And Tesla Investment

A significant portion of Elon’s income goes back into furthering technological advancements through companies like SpaceX and Tesla. 

This reinvestment strategy serves dual purposes: it fuels innovation while simultaneously increasing potential returns on investment.

Focusing On The Bigger Picture:

Rather than focusing solely on personal gain or extravagant purchases, Musk seems more interested in using resources strategically to drive progress within industries close to his heart, such as space exploration, renewable energy, and electric vehicles. 

This perspective offers valuable insights into what drives him both personally and professionally.

What Is The Future Of Elon Musk’s Business Empire?

The future of Elon Musk’s business empire is a topic that sparks curiosity and speculation among many. As the CEO of multiple successful companies, his entrepreneurial journey continues to inspire.

Musk has always been at the forefront of technological innovation, pushing boundaries in sectors such as electric vehicles, space travel, and artificial intelligence.

A look into the future suggests continued growth for his businesses. 

His main ventures include SpaceX, Tesla Inc., Neuralink, and The Boring Company.

The Future of SpaceX

SpaceX aims to revolutionize space technology with its ambitious projects like Starship – a spacecraft designed for human colonization on Mars. 

With plans for lunar missions and satellite broadband services (Starlink), it seems the sky is not even the limit for this company.

Tesla Inc.’s Prospects

Tesla Inc., known primarily for its electric cars, also manufactures renewable energy solutions like solar panels and batteries. Their goal? To accelerate the global transition towards sustainable energy. 

Given rising environmental concerns globally, this vision aligns well with future trends.

Growth Potential For Neuralink And The Boring Company

In addition to these ventures, there are others in Musk’s portfolio showing promise. 

Neuralink focuses on developing implantable brain-machine interfaces, while The Boring Company is a tunnel construction service provider aiming to reduce traffic congestion through an efficient transport system called Loop.

The Future Of Tesla – Rebranded As “X”

In a surprising move, Twitter has undergone a rebranding, now known as X.

This shift follows a tweet from Twitter owner Elon Musk, who announced the change and revealed an “interim X logo” that will soon replace the previous branding.

While the rebranding is currently limited to a name change, Musk’s decision signifies a potential transformation for the platform. Although no new features have been introduced at this point, it is speculated that Musk has future plans to evolve and enhance the platform.

Potential New Ventures?

Beyond existing businesses, Musk often hints at potential new ventures via social media or interviews, suggesting he may venture into industries like biotech or AI further down the line. 

Given his track record, it wouldn’t be surprising if we see him pioneering more groundbreaking technologies soon.

What Can We Learn From Elon Musk?

The life and career of Elon Musk, one of the most influential tech moguls in the world, offers valuable lessons for online entrepreneurs, business professionals, and beginner business owners.

Embrace Challenges and Risks

Musk’s journey is a testament to his willingness to take on ambitious projects that others might deem impossible or too risky. 

His ventures into electric cars with Tesla and private space travel with SpaceX are prime examples.

Pursue Your Passions Relentlessly

Despite facing numerous setbacks throughout his career, Musk has remained committed to his vision for a sustainable future and interplanetary exploration. 

This unwavering dedication serves as an inspiration for those who aspire to make their own mark in their respective fields.

Innovation Over Profit

Musk’s focus has always been more on innovation than immediate profit. He believes that businesses should aim at making significant advancements rather than just increasing their bottom line. 

This approach can be seen clearly in companies like Tesla and SpaceX.

Think Big and Be Persistent

No matter how audacious your goals may seem, don’t shy away from them. Like Musk launching rockets into space or revolutionizing transportation with Hyperloop – you need courage to dream big.

Leverage the Power of Teamwork

Musk understands the importance of having a strong team around him; he knows it takes collaboration to achieve greatness. Aspiring leaders should learn this lesson well: surround yourself with talented individuals who share your passion.

Bold Vision for the Future

Above all else, we can learn from Elon Musk’s bold vision for the future – whether it’s colonizing Mars or creating self-driving cars – these aren’t small feats but they’re what drive him forward every day. 

Have an idea of where you wish to go and let that direct your choices as you move forward.

Remember – if Elon Musk can do it, so can you. You just need determination, resilience, and belief in yourself.

Elon Musk Famous Quotes

  • “I think it is possible for ordinary people to choose to be extraordinary.” – Elon Musk
  • “When something is important enough, you do it even if the odds are not in your favor.” – Elon Musk
  • “If something is important enough, even if the odds are stacked against you, you should still do it.” – Elon Musk
  • “When something is important enough, you do it even if the ‘savings throw’ is not in your favor.” – Elon Musk
  • “I say something, and then it usually happens. Maybe not on schedule, but it usually happens.” – Elon Musk
  • “I think it’s very important to have a feedback loop, where you’re constantly thinking about what you’ve done and how you could be doing it better.” – Elon Musk
  • “The first step is to establish that something is possible; then probability will occur.” – Elon Musk
  • “Don’t confuse education with schooling. I didn’t go to Harvard, but people who work for me did.” – Elon Musk
  • “If you need inspiring words, don’t do it.” – Elon Musk
  • “The future of humanity is going to bifurcate in two directions: Either it’s going to become multiplanetary, or it’s going to remain confined to one planet and eventually there’s going to be an extinction event.” – Elon Musk

Elon Musk Frequently Asked Questions

1. How Much Does Elon Musk Make An Hour?

According to numerous sources including Forbes and Bloomberg, Elon Musk makes approximately $4.96 million per hour.

2. How Much Does Elon Musk Make A Day In 2023?

In 2023 Elon Musk makes over $118 million per day – aka more than 99% of people make in their entire lifetime!

3. What Is Elon Musk’s Monthly Income?

Elon Musk’s monthly income is estimated to be approximately $3.57 billion.

4. How Long Does Elon Musk Sleep?

Elon Musk recently increased his sleeping hours to approximately 6-7 hours per night. Elon Musk recently increased his sleeping hours, as he felt he was more productive with the extra Zzz’s.

5. What Is Elon Musk’s IQ?

Elon Musk has an estimated IQ of 150 – 155, which is as high as Albert Einstein’s. This proves that Elon Musk really is a modern day genius.

6. Who Is The No 1 Richest Person In The World?

Elon Musk is the richest person in the world in 2023 with an estimated net worth of $234 billion, thanks to a recent rise in the stock price of Tesla and SpaceX.

7. Is Elon Musk Self Made?

Yes, Elon Musk is a self-made billionaire. He moved to the United States from South Africa when he was 17 years old with no money, and sense then he has started nearly a dozen multi-million dollar companies!

8. How Many Dollars Does Elon Musk Have?

Elon Musk has approximately $234 billion dollars, making him the no 1 richest man in the world today.

9. What Does Elon Musk Own?

Elon Musk lives in a $50,000 home in Austin, Texas, and sold most of his worldly possessions. However, he keeps his stocks in various companies including Tesla and SpaceX.

10. How Many Companies Does Elon Musk Own?

Elon Musk owns nearly a dozen companies, including Tesla, SpaceX, Solar City, Neuralink, Hyperloop, Twitter, Open AI, The Boring Company, and more.

Verdict – How Much Does Elon Musk Make A Day?

In conclusion, Elon Musk’s daily earnings are a subject of curiosity and awe for many. While the exact figures may vary, it is estimated that Musk’s daily income exceeds $118 million!

His immense wealth is predominantly derived from his positions as the CEO of Tesla, SpaceX, and other successful ventures.

Here is a more complete breakdown of Elon Musk’s income per second, minute, and hour:

  • Per Second: $1,376
  • Per Minute: $82,600
  • Per Hour: $4.96 Million
  • Per Day: $118.94 Million
  • Per Month: $3.57 Billion
  • Per Year: $42.82 Billion

Through stock options and the appreciation of Tesla’s stock price, Elon Musk’s net worth has skyrocketed, solidifying his status as one of the wealthiest individuals globally. 

However, it is important to note that his financial success is not solely driven by a lavish salary, but rather by his visionary leadership and ability to create game-changing companies.

Musk’s relentless pursuit of innovation and his dedication to revolutionizing industries like electric vehicles and space exploration have contributed to his astronomical wealth. His entrepreneurial spirit and unwavering determination have made him an inspiration to aspiring entrepreneurs worldwide.

Whether you admire his accomplishments or question his methods, there is no denying that Elon Musk has left an indelible mark on the business and technology landscape!