Elon Musk has long been a billionaire. In fact, he was already a hundred millionaire even before turning 30 after he sold his web-software company for a whopping $340 million back in 1999. Decades after, he’s still successfully making strides and making bank until today as proven by the recent leap his net worth saw.
Net Worth Boost
The tech entrepreneur’s fortune reportedly increased by $2.3 billion recently thanks to the rise in share price of the CEO’s automaker company. This increase was in turn attributed to Tesla’s recorded last quarter profits of $386 million. The 48-year-old billionaire now has an estimated net worth of $33.6 billion making him one of the wealthiest people in the world.
Despite this though, Musk has also notably refused to receive his $56,000 minimum yearly salary. What more, he won’t be receiving anything for the next decade or so until the auto company reaches a $100 billion market cap. And while that might still be well into the future, the event will reportedly enable him to claim the title of the richest person in the world.
What Elon Spends On
Musk has been known for his hard-working attitude reportedly even putting in up to 90 hours a week into his endeavors. Fortunately, he has also found the time to enjoy the fruits of his labor. The billionaire particularly spends his fortune on real estate at a certain point amassing a $70 million property portfolio in Los Angeles’ Bel-Air neighborhood. There’s his huge mansion bought in 2012 spanning over 20,000 square feet. The property reportedly has an array of luxury amenities such as a 1,000-bottle wine cellar.
As a car manufacturer himself, it’s no surprise that Musk also has a love for other expensive cars. His collection includes a variety of impressive vehicles like a Lotus Esprit submarine car, which was even used in a James Bond film. The purchase cost him a whopping $920,000. Meanwhile, he keeps two gas-powered automobiles in his arsenal, one of which is a Ford Model T from the early 20th century.