⬅ # 2729 Jet Jie Li|# 2 Jeff Bezos

# 1 Elon Musk 

$214B

Real Time Net Worth
as of 6/24/2024
-$243.8M (-0.11%)

# 1 Elon Musk 

$214B

Real Time Net Worth
as of 6/24/2024
-$243.8M (-0.11%)
OccupationCEO, Tesla; CEO, SpaceX; Chair, X
Source of WealthSpaceX, Tesla
Age52
ResidenceAustin, Texas
Marital StatusSingle
Children11
EducationBS, University of Pennsylvania
Age-Adjusted Net Worth$368B
Elon Musk
Elon Musk
United States
Net worth: $214B

Self-Made Score 

Wealth History

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Biography

Elon Musk was born on June 28, 1971, in Pretoria, South Africa.
He co-founded Zip2, a software company, in 1996, which was later sold to Compaq for nearly $300 million in 1999.
Musk founded X.com, an online payment company, in 1999, which eventually became PayPal after a merger. PayPal was later sold to eBay for $1.5 billion in 2002.
SpaceX, founded by Musk in 2002, became the first privately-funded company to launch a spacecraft into orbit in 2008 and the first private company to send a spacecraft to the International Space Station in 2012.
Tesla Motors, now known as Tesla, Inc., was founded by Musk in 2003. Under his leadership, Tesla became a major player in the electric car industry, producing popular models like the Model S, Model 3, and Model X.
In 2006, Musk co-founded SolarCity, a solar energy products and services company. Tesla later acquired SolarCity in 2016, integrating solar technology into its offerings.
Musk's vision for high-speed transportation led to the founding of The Boring Company in 2016, focusing on tunnel construction and infrastructure for efficient urban transportation.
Neuralink, founded by Musk in 2016, aims to develop brain–machine interface technologies to enable direct communication between the human brain and external devices.
Musk is known for his ambitious goal of colonizing Mars, expressed through SpaceX's Interplanetary Transport System and the Starship spacecraft.
Musk's eclectic interests also extend to projects like the Hyperloop, an ultra-high-speed transportation concept, and OpenAI, an artificial intelligence research laboratory.

How long would it take you to become as rich as Elon Musk?

If you started with $10,000 and invested an additional $500 each month at a 44.13% CAGR, it would take you 5 years to reach Elon Musk's net worth of $214B.

Is this realistic? It depends how closely the VIX-TA-Macro Advanced model performs to its history in the future. Since Grizzly Bulls launched on January 1, 2022, it's returned 48.35% compared to 16.28% for the S&P 500 benchmark.

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Elon Musk is very wealthy, but what's stopping you from reaching that same level of success? As summarized in our five fundamental rules to wealth building, becoming wealthy in a modern capitalist economy is not complicated. There's actually only three variables:

  1. Your starting capital
  2. Your earnings after expenses
  3. The compound annual growth rate (CAGR) of your savings

Most people start with zero or very little, so if you weren't born into wealth, don't fret! The majority of the fortunate folks listed in our Grizzly Bulls’ Billionaires Index came from middle class or lower backgrounds. The most distinguishing characteristic of the group is their ability to consistently earn a high CAGR on their savings.

Every billionaire has a unique strategy to achieve high CAGR. For Elon Musk, SpaceX and Tesla are the primary sources. Whether you choose to invest your savings in your own businesses or the businesses of others is not as important. The salient piece of the puzzle is ensuring that your hard-earned savings are generating sufficient CAGR to reach your long term goals.

Most people simply invest their money in index funds and call it a day. There's nothing wrong with this approach, but it guarantees relative mediocrity. To achieve greatness, you need to invest your money to earn higher than average returns. In the long run, better investors will always finish ahead of better earners.

Source: Grizzly Bulls reporting

Methodology: Grizzly Bulls' Billionaires Index is a daily ranking of the world's billionaires and richest people. Grizzly Bulls strives to provide the most accurate net worth calculations available. We pull data from public equity markets, SEC filings, public real estate records, and other reputable sources.

The index is dynamic and updates daily at the close of U.S. stock market trading based on changes in the markets, economy, and updates to Grizzly Bulls' proprietary algorithm of personal wealth calculation. Stakes in public companies are tracked daily based on the relevant closing prices of the underlying securities. Additionally, stakes in private companies, cash, real estate, and other less easily valued assets are updated periodically through careful analysis of insider transactions, comparable public company sales / EBITDA multiples, etc.

Edited by: Lee Bailey