Elon Musk is one of the richest people in the world with a net worth of $20 billion. The influential technocrat and entrepreneur is the CEO of Space X, Tesla, and Boring Company.
Musk holds the 40th position in the Forbes billionaires list, and he was first added to the billionaire club in 2005. Sources reported that he is the highest paid CEO in the U.S.
Elon Musk made more in 2018 than the next 65 highest-paid CEOs combined.
The great irony is that Musk’s companies SpaceX and Tesla, are on a cash struggle. This all leads us to question how Musk manages to make millions and how he spends all his money. It is known that Musk does not take cash bonus or salary. With regard to market capitalization, Boring Company is valued at $16 billion and Space X is valued at $33 billion.
Tesla’s blockbuster package for Elon Musk
As per the “blockbuster package” approved in 2018, the company will give Tesla equities worth $2.3 billion to Musk over ten years. In return, Musk must scale up the market value of the company from $60 billion to $650 billion by 2028. Elon has also earned stocks worth $12 billion under a similar plan in 2012.
How does Musk spend his money?
Elon is a workaholic and does not spend much on luxury outfits or holidays. But he is definitely interested in costly real estate. Musk takes loans against his equity in SpaceX and Tesla to buy luxurious homes.
In 2018, Musk bought five properties in California and took a loan of $61 million from Morgan Stanley. His real estates amount to a total of $70 million and comprise of several Bel Air properties. Musk also owns several cars including a Lotus Espirit submarine car which was used in James Bond. Musk also pays work-related expenses.