How Elon Musk Spent $83 Billion Dollars

[Music] the average person would need to work full-time for over a million years and they still wouldn't be as wealthy as elon musk as of mid-2020 the notorious tesla and spacex entrepreneur is now the fifth richest person on the planet it's been a wild ride climbing to those heights from living on just one dollar a day musk now earns more than the revenue of entire countries so how does a man with infinitely deep pockets spend his hard-earned cash sure he's got a pimp in real estate portfolio and a car collection to make any motorhead jealous but as you're about to see elon keeps his spending very much in check sorry you're elon musk [Music] for a man whose name is synonymous with tesla you would expect elon musk to steer clear of any competing car companies you'd also assume that he would blatantly refuse to drive any traditional gas guzzler right well surprisingly that is not quite the case the billionaire might not splurge on yachts private islands or wild parties but he can't turn down an exceptional four-wheeler especially if they can drive underwater oh don't worry we'll circle back to that one musk bought his first car a second-hand 1978 bmw 320i for just 1400 in 1994 and his wheels have only gotten more impressive since when he's not trying to make the world a better place or sending out cryptic tweets or naming his child this he's showing off his mouth-watering car collection sitting in his garage you will find a classic ford model t the first attempt at a mass-produced car which amazingly sold for just 850 dollars back in 1920 still classic yet far more modern is his e-type jaguar roadster from 1967 which can sell for over 100k throw in a 1997 mclaren f1 worth over 800 thousand dollars as well as a 2006 hamon bmw m5 a 2010 audi q7 and a 2012 porsche 911 turbo and it's clear that this trailblazer doesn't mess around when asked which car he drives the most musk admitted it was his tesla model s which would cost the typical consumer upwards of 85 000. of course when you own the company a couple of lucrative discounts kick in then there's the cyber truck musk's robocop style futuristic pickup which will cost upwards of thirty nine thousand dollars rewind about a decade and elon sat behind the wheel of tesla's first electric car the roadster this sleek piece of automate of art was actually based on the chassis of a lotus elise which yep you guessed it elon muskones too but not just any lotus elise a customized amphibious prop car from a james bond film dubbed wet nelly the prop vehicle cost one hundred thousand dollars to build and nearly nine hundred and twenty thousand dollars to buy ever since musk saw it transform into a submarine in the spy who loved me he wanted one for himself and when you're a billionaire it's pretty easy to get what you want alright that is a heck of a lot of cars but fortunately the tech entrepreneur has no shortage of storage space elon's real estate portfolio is truly something to marvel at tallying close to a hundred million dollars in total value shall we take a look despite taking a pledge to sell off all of his homes with seven of his houses then officially put up for sale that doesn't mean that we aren't going to take an exclusive tour of his stunning mansions musk bought his first piece of bel air real estate in late 2012 sitting right here at 109 11 shalon road it set him back a whopping 17 million bucks and you can bet your bottom dollar that it comes jam-packed with all the bells and whistles money can buy the colonial style seven-bedroom nine-bathroom bel-air pad features a dedicated kid's wing two-story library a theater two-room guest suite a tennis court a colossal wine cellar a pool a gym and a needed five-car garage clearly a fan of the area musk snapped up another two houses on the same street including one for 6.75 million dollars in october of 2013 which he ended up using as a private school for his kids a couple years later he coughed up 20 million dollars for another ranch style house and 24.25 million in 2016 for a 9309 square foot mansion those weren't holiday homes or beachside getaways they sat on the adjacent street in bel air throw another two reported mansions in the los angeles area onto that list and we start to see a clear pattern considering that the tesla factory is located further north in fremont california elon does need somewhere to sleep when he's up to his eyeballs and work and while he has admitted to sleeping on the floor of the factory's conference room he does hold the keys to a nearby house or more like a nearby palace in typical billionaire fashion in 2017 elon went out and bought a 100 year old 16 000 square foot mediterranean-style mansion in the ritzy san francisco bay area suburb of hillsboro how much are we talking here a sly 23.4 million dollars that's an astounding real estate portfolio and it doesn't even include the famous temporary boomerang shaped house in brentwood classic cars amphibious roadsters and a hundred million dollars worth of houses that's as impressive a list as any but getting to this point of ludicrous spending wasn't easy let's rewind how exactly did elon musk go from living on a dollar a day when he moved to canada to establishing himself as one of the world's most influential and wealthy business people his remarkable rise to the top started decades ago before he amassed a 75 billion dollar net worth musk was hammering out successful projects as a teenager back in south africa by the time he was 12 he'd already coded built and sold a video game called blaster raking in 500 his entrepreneurial spirit was always evident at queen's university in canada musk quickly picked up a side hustle selling computer parts and custom built pcs after moving to the university of pennsylvania he then turned his house into a speakeasy on the weekends charging five dollars at the door which covered his tuition costs a brief stint at stanford capped off his studies however ironically elon has since overtly declared that college is quote basically for fun and not for learning in 1995 after leaving college behind he and his brother founded zip2 essentially an online version of the yellow pages they started it with 28 000 in startup cash from their father and sold it four years later for a whopping 22 million dollars from there elon's wealth exponentially grew the zip2 money was used to create x.com which soon merged with paypal shoveling another 180 million dollars into his piggy bank although it wasn't always smooth sailing for the tech mogul in late 2008 musk divorced his first wife and it nearly bankrupted him he ran out of cash a year later and was forced to live off loans from friends in order to keep his companies afloat then came the game-changing moment the moment after which elon musk's bank balance would skyrocket when tesla debuted on the stock market in 2010. elon musk elon musk tesla elon musk yeah wow however tesla was initially formed much earlier back in 2003 it took the electric auto manufacturer five years to really make a statement in the industry and that bold statement came in the form of the release of the tesla roadster in the same year that elon officially became ceo and product architect with the company now thrust into the spotlight tesla managed to raise 226 million when it went public in 2010. ever since musk has been funneling hundreds of millions of dollars back into the company as well as sacrificing his annual salaries through tesla elon bought solarcity for 2.6 billion dollars worth of stock he's continued to spearhead the growing brand with the hope to not only revolutionize the automotive industry but to initiate a global movement away from polluting machinery tesla might be the most famous musk run company these days but it's far from the only one spacex which is recently floating around the 44 billion value has been making headlines for almost two decades perhaps none more impressive than being the first private company to send a spacecraft to the international space station back in 2014 elon quietly opened his own school called adastra a progressive essential learning institution for the children of spacex employees elon waved all the tuition fees and paid to bring over his kid's old teacher as well the way of learning is far more hands-on and instructs the students to solve real-world problems which has been so well received that a universally accessible online school astranova has sprouted as a result experimenting with ai certainly beats memorizing a boring textbook that's for sure speaking of boring there's one more company we've yet to mention the boring company elon has raised and invested hundreds of millions of dollars for this tunneling and transportation startup since back in 2016. where did the idea come from well it was simple he wanted a way to bypass the horrid los angeles traffic over the last two and a half decades if he hasn't been spending his money creating his own companies he's been investing into those of others in 1998 musk started his investing journey with everdream corporation which was eventually sold to dell thereafter he funded a small satellite company called surrey satellite technology a question and answer site called mahalo.com the online payment company stripe multiple ai brands including openai and deepmind technologies and a dna sequencing company halcyon molecular incorporated which turned out to be a failure all up the groundbreaking entrepreneur would have controlled hundreds of millions potentially billions into the emerging world of technology fortunately not all of his money goes towards profit-seeking companies when he's not compulsively working on his life goal of colonizing mars the tesla ceo is making humble philanthropist donations much of these have been through his own so-called musk foundation to which he has personally donated over 257 million dollars so far in 2015 he also donated 10 million dollars to the future of life institute and there's plenty more where that came from elon has followed in the generous shoes of bill gates and warren buffett having signed a giving pledge meaning that most of his fortune will be left to charity while most famous celebrities spend half of their time on vacation cruising around on yachts soaking in the sun and gloating about it on social media elon's actually somewhat of a contrarian he did buy a yacht called mr steven but that was solely for spacex purchases he regularly works between 80 and 90 hours a week without any time for travel back in 2015 he admitted he'd only taken about two weeks off since founding spacex about 12 years earlier can you imagine not taking a vacation for over a decade just because he's not hitting up the bahamas every sunday doesn't mean that he isn't regularly flying through the skies because he is and he's doing so in sublime luxury musk owns two private planes the more expensive of the pair being the 70 million dollar 2015 gulfstream g650er in 2017 alone he flew more than 150 000 miles until teleportation is available according to his tesla employees it's the best way for him to get around now cast your eye toward the aero l-39 albatross musk's other plane the same one that russian military pilots use as trainers for flying fighter jets the price for a good secondhand l-39 starts at around 250 000 but when you're as rich as elon musk who has spent tens of billions across his career that doesn't even make a dent if you were elon musk for a day what's the first thing you'd do let us know in the comments down below don't forget to like this video subscribe to the richest and have a great day we'll catch you next time

Channel: TheRichest

Views: 3,038,253

Rating: 4.9179811 out of 5

Keywords: elon musk, tesla, billionaire, SpaceX, paypal founder, boring company, elon, entrepreneur, tech, technology, Ad Astra, astra nova, car collection, money, spending, millions, millionaire, billion, the richest

Id: RPSPAs0JS8E

Length: 11min 46sec (706 seconds)

Published: Sun Aug 23 2020