Elon Musk’s net worth: Who is he? Here are things to know about Tesla’s CEO

Elon Musk is just 48, but he is one of the wealthiest men in the world. His net worth this year is estimated to be $21.6 billion, and he made this much money due to his successful companies that include Tesla, Neuralink, SpaceX, and OpenAI.

Musk is a Canadian-American who was born in South Africa. He is a business mogul, inventor, engineer, and investor. He founded PayPal, and this was how he started to earn and eventually ventured on other types of businesses until he got into technology and invented things.

Musk was a dropout

Musk graduated high school in 1988 and attended Wharton School of Business at the University of Pennsylvania where he earned his bachelor's degree in economics. He was accepted for a Ph.D. at Stanford University for a physics graduate program, but he dropped out in two days to follow his entrepreneurial ambitions.

How much is Elon Musk's salary?

Elon Musk was said to have chosen not to receive his regular salary at Tesla and opted for a big payday instead. In place of the salary, Tesla shareholders approved a compensation plan that will give the 48-year-old businessman a $2.6 billion in stock option in 12 portions in the course of a decade.

He may have turned down the $56,000 minimum yearly salary but is likely to earn more with the compensation scheme. The plan is hinged on Tesla’s stock performance, so depending on how the company does, Elon Musk could earn as high as $55.8 billion in 10 years.

Which Elon Musk’s company is most profitable?

Musk net worth is mainly made up of his profits from Tesla. Last year, he owned 33,737,921 shares in the car company, which has a value of $11.6 billion. He has other tech and engineering firms, and his brilliant mind makes it possible for his creations to improve and become useful for everyone thus his companies just keep growing, but Tesla is still in the lead when it comes to profits.

The secret to his success

Elon Musk is workaholic as per Business Insider. He may be a celebrity and rich, but he does not spend lavishly like the other wealthy people. He is usually in the office and just goes home at the end of the day rather than going to luxurious vacations.