How Much Money Elon Musk Makes Every Minute

elon musk's net worth is skyrocketing higher than a spacex starship the tesla ceo and co-founder is worth about 177.2 billion dollars and he's in a race with jeff bezos for the title of richest person in the world his net worth is tied to tesla's share price and it can fluctuate by billions every day musk gets richer as the price of tesla stock climbs his net worth has increased by a ridiculous amount in 2020 and that trend is continuing in 2021 the amount of money musk earns in a single minute is astronomical here's a look at how quickly elon musk makes money it's never a good idea to underestimate elon musk tesla was on the verge of bankruptcy a few years ago and musk was far from being a scenty billionaire there's a term you don't get to say out loud that much today his net worth is climbing steadily and might become the world's first trillionaire if the trend continues musk was briefly the richest person in the world in january when his net worth reached 189.7 billion dollars musk and bezos are neck and neck and the richest person in the world race and both were once worth more than 200 billion dollars musk's net worth peaked at 209.3 billion which is higher than bezos peak net worth of 204.6 billion bezos does have one advantage over musk his net worth is far more stable because musk's net worth is tied to the price of tesla stock it's certainly possible that musk could see his net worth plummet back to levels not seen since early 2019. oh the humanity tesla stock is in bubble territory and a 90 haircut is not out of the question tesla's recent 1.5 billion investment in bitcoin isn't helping the matter either many financial analysts see this as two bubbles being combined into one still musk doesn't have to worry about sleeping in the back of his cyber truck anytime soon his net worth could tank to 15 billion but that's still an insane amount of money you think musk has often been described as a billionaire who doesn't care about money he's even said so himself he's more concerned with changing the world and taking civilization to the stars he's a futurist first and a businessman second musk wants tesla to be the world leader in electric vehicles and solar panels likewise he wants spacex to be the first company to reach mars these things will change the course of humanity and if they make musk a trillionaire well that's just a bonus elon musk is a centi billionaire only on paper in fact he reportedly has as much as 548 million dollars in debt and he intends to keep borrowing more so he can have cash on hand the tesla ceo's income is zero dollars and he has never taken a paycheck from the company this is standard practice for many ceos jeff bezos's salary at amazon is only 81 840 and that likely won't change as he switches from ceo to executive chairman so how exactly does elon get paid if his salary is lower than that of a burger flipper well he's paid via a highly complex compensation package that awards him tranches of stock options when tesla achieves certain stock revenue and profitability performance metrics the 12-level compensation metric involves lofty goals but that's no issue for musk musk received 50 billion dollars in stock options when tesla's market cap reached 650 billion which wasn't expected to happen until 2028. few people expected tesla to become so valuable so quickly and today the eb maker has a market cap of about 764.25 billion today musk owns about 241 million shares of tesla which is approximately 25 of the company despite reaching numerous milestones in his compensation package musk has never exercised any of his stock options and has never sold any tesla stock he could sell some and live a lavish lifestyle but he has no desire to do so in fact he sold off the majority of his 100 million dollar real estate portfolio last year and has adopted a minimalist lifestyle musk is content with taking out loans and using that cash to invest in his own businesses that's another way he differs from bezos who occasionally sells small amounts of amazon stock to fund his far more glamorous lifestyle musk may not have sold any tesla stock but the same can't be said about his brother a recent securities filing revealed that kimball musk sold 30 000 tesla shares for about 25.6 million dollars it's not just tesla that made musk incredibly rich he owns 48 of spacex and his stake in the company is worth about 46 billion dollars spacex's most valuable venture is its starlink satellite internet constellation which is valued at about 81 billion dollars musk also owns a sizable portion of the neurotechnology company neuralink the company creates brain machine interfaces and is worth about 500 million dollars musk has invested 150 million into the company since 2019. musk also founded the boring company in 2016 and he owns 90 percent of the tunnel construction business who knows what musk has planned for the future we wouldn't be surprised if he's on the verge of founding yet another groundbreaking tech company tesla and spacex might just be the beginning musk's path to senti billionaire status practically happened overnight it took far longer for bill gates and jeff bezos to pass the 100 billion dollar milestone we can't precisely calculate how much money musk makes in a minute because he doesn't have any income but we do know how fast his net worth is increasing musk's net worth increased by 140 billion dollars in 2020 alone at the beginning of the year musk was worth a mere 27 billion dollars wow that's nothing but by the end of 2020 his net worth stood at about 167 billion now that's more like it this means his net worth increased by an average of three hundred eighty three million five hundred sixty one thousand six hundred forty three dollars per day in twenty twenty that's about fifteen million nine hundred eighty one thousand seven hundred thirty five dollars per hour or approximately two hundred sixty six thousand three hundred sixty two dollars a minute so we can say that musk makes about two hundred sixty six thousand three hundred sixty two dollars per minute so far in 2021 musk's net worth has been increasing at an even faster pace so far this year musk has earned an average of 400 million dollars per day or about 16 million per hour that's about 266 666 dollars per minute so there how does that compare to the average american according to the u.s bureau of labor statistics the median income for a full-time wage or salary worker on a weekly basis was 936 dollars for a 40-hour work week this translates to a yearly income of approximately 48 672 dollars that means that musk makes nearly 5.5 times more money in a single minute than the average american makes in an entire year that's almost as unbelievable as a spacex astronaut setting foot on mars musk makes enough money in a minute to buy six cyber trucks or two tesla model x's musk makes even more per minute than most doctors make in an entire year as the average salary for a family physician in the united states is about 237 thousand dollars per year the average tesla employee makes far less than elon musk too the average salary for a tesla worker is 96 000 per year which means musk makes about 2.8 times as much per minute as the average tesla employee makes per year you get it but you shouldn't feel too bad for those working on tesla's assembly lines the company may not match employee 401ks but all tesla employees are eligible for stock options and grants the compensation packages are a far cry from what musk gets but they're still quite impressive tesla offers stock compensations for all employees throughout the organization including production associates and sales staff this is incredibly rare in the auto industry and many tesla employees have become millionaires thanks to the compensation packages tesla's engineer drew beglino tesla's president of automotive jerome gehen and tesla's chief financial officer zachary kirkhorn have all become multi-millionaires thanks to compensation packages tesla's stock compensation packages are so substantial that they resulted in a 1.7 billion dollar hit to tesla's bottom line last year the compensation packages set tesla apart from most automakers but they're commonplace in tech companies and startups tesla's practice of awarding equity to everyone in the company makes a big difference in morale and it's one of the reasons the company has been so successful in recent years so other companies that aren't doing it right do it right thank you did you know that elon musk co-founded paypal he started an online bank called x.com in 1999 and the startup merged with confinity inc a year later to form paypal it was one of his first successful business ventures and he pocketed 165 million dollars when paypal was sold to ebay for 1.5 billion in stock before the sale musk was paypal's largest individual shareholder and owned about 11.7 percent of the company that's it folks thanks for watching [Music]

Channel: TheRichest

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Keywords: elon musk, elon musk net worth, elon musk salary, elon musk earnings per minute, elon musk richest person in the world, elon musk billionaire, elon musk companies, elon musk tesla, elon musk spacex, elon musk stock options, elon musk income

Id: Yr1XMBQcpU4

Length: 8min 27sec (507 seconds)

Published: Tue Feb 23 2021