Musk decided to launch SpaceX when he attempted to buy a rocket but was told it would cost him $8 million. Space Exploration Technologies Corporation (aka SpaceX) SpaceX Musk received $165 million from the deal. Paypal was acquired by eBay in October 2002 for $1.5 billion in stock. Musk was kicked out of his CEO role in October 2000. The company was renamed Paypal once the company decided to focus on that service. In 2000 the online financial services and e-mail payment company merged with Confinity, a company that had Paypal as a service. Musk cofounded X.com in March 1999 using $10 million form the Zip2 sale. X.com and PayPal Ken Wolter / Shutterstock Zip2 was acquired in February 1999 for $340 million.
The web software company developed and sold an Internet city guide for the newspaper publishing industry, gaining contracts with The New York Times and the Chicago Tribune. Musk started his first company with his brother Kimbal in 1995 with money from a group of angel investors. At the time, Musk’s 29% stake in Tesla was worth just over $1 billion. Tesla stock jumped when they introduced the Model X in February 2012. The jump had to do with Tesla Motors experiencing a 30% increase in stock price year over year. Musk’s estimated net worth was $680 million in October 2011. He reached billionaire-status in 2012 at age 40, debuting on Forbes Billionaires List with a net worth of $2 billion. With a 7% share of the company, Musk received $22 million for the deal. Musk became a millionaire in 1999 at age 27 when he sold Zip2 (his web-software company) for over $340 million. When did Elon Musk reach millionaire/billionaire status? *According to Forbes What is Elon Musk’s net worth in 2020?įorbes last reported Elon Musk’s net worth to be $24.6 billion in April 2020.
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