Have you ever wondered how much money the genius behind Tesla, SpaceX, Neuralink, and PayPal makes? With passion fueling his innovation, Elon Musk has co-founded six companies and stands first among the richest people in the world.
From a net worth of $2.7 billion in 2013 to $314 billion in November 2024, the billionaire has surely earned a lot in the decade. He was atop Forbes’ annual billionaire list in 2022. Though he regressed to the second spot on the list in late 2022 or early 2023 – overtaken by LMVH’s Bernard Arnault- he is now once again the top money-maker in the world.
Many wonder how much money he makes with all his achievements and undertakings. The thing is that Musk does not have a fixed salary. Instead, what he earns is compensation for how his companies perform.
This article breaks down just how much money does Elon Musk make in a second, minute, hour, or day?
At A Glance!
| Name | Elon Reeve Musk |
| Date of birth | 28 June 1971 |
| Place of birth | Pretoria, South Africa |
| Residence | Austin, Texas |
| Education | Bachelor of Arts/ Science, University of Pennsylvania |
| Occupation | Investor, entrepreneur |
| Companies | Tesla, Solar City, Neuralink, Twitter, The Boring Company |
| Net worth | $198 billion (as of March 2024) |
| Current roles | CEO of Tesla, CEO of SpaceX, CEO of Twitter |
How Much Does Elon Musk Make a Year?
The annual earning of around $18.3 billion per year; based on the calculation for past 11 years. This colossal figure puts the average US annual income of around $50K to shame.
However, it is noteworthy that Musk draws his wealth from his stock holdings in multiple companies. It makes his net worth dependent on the stock market performance and, thus, quite volatile.
Some years have been extra impressive for Mars’s future colonizer, while others have been bad. Elon Musk made around $135 billion in 2020 and $112 billion in 2021; his net worth raised by 1000% in just two years of pandemic. In November 2021, his net worth peaked at about $340 billion as Tesla shares hovered.
While in 2022, he lost about 48% of his net worth. The loss occurred after he used Tesla shares to fund the Twitter purchase of $44 billion. The stunt spooked the investors and sent Tesla’s shares spiraling downward. In fact, interestingly, he broke the Guinness World Record for the “largest loss of personal fortune in history.”
Breaking It Down: How Much Does Elon Musk Make In A Day?
The new CEO of Twitter makes quite the money in the day. With an annual income of $18.3 billion, his daily earning sums up to around $54.55 million per day.
These astonishing figures might seem like something out of a money meme, showcasing the stark contrast between the ultra-wealthy and the average income earner. But it’s crucial to remember that Musk’s wealth is tied up in company assets and is prone to fluctuation. For instance, he lost $16 billion in a day when Tesla shares dropped by 9% amid missed earnings and sales in 2023.
How Much Does Elon Musk Make An Hour?
Not-so-surprising fact: Elon Musk makes a 7-figure in just one hour! He earns around $2,320,000 an hour, about hundreds of thousands of times more than the average hourly wage of $10.99.
Digging it Deeper: How Much Money Does Elon Musk Make Per Second?
Now, the most awaited question; how much does the billionaire make in a second? Elon Musk earns approximately $537 per second. Turns out, the billionaire can earn an average annual salary of approximately $35,060 in a minute.
Remember that all the above calculations are mere estimates. And as we have stated above, Musk’s earnings vary depending on many factors, including stock market fluctuations and his ventures’ performance. In July 2023, his net worth increased by $10.3 billion within 24 hours due to Tesla stock price surges.
Conclusion
How much does Elon Musk make every second? While there’s no exact answer, the billionaire’s estimated earning is $537 a second, rendering him an inspiration for those looking to achieve financial success. For more personal finance tips, check out the featured section of SpoliaMag.
While the figure is quite overwhelming, remember that Musk has had his share of losses and setbacks as well. He has lost around $13 billion in just a day recently, in April 2023.
Despite such setbacks, his innovation, dedication, and hard work have earned him a good chunk of wealth. His companies are at the forefront of technology with the potential to impact the world profoundly.
Who is the Wealthiest Person in the World?
Elon Musk is the wealthiest person in the world with a net worth of 314 billion dollars as of early August. Amazon founder, Jeff Bezzos took second position with a approximately net worth of $235 billion as of November 2024.
FAQs
Elon Musk earns around $18.3 billion a year.
The new Twitter boss, Elon Musk, earns around $54 million a day.
The richest person in the world, Elon-the-wealthy-Musk, earns more than $1.3 billion every month.
He earns around $35,060 in a minute.
The owner of Tesla, The Boring Company, and Twitter (now X) earns around $2.3 million in just one hour.
Elon Musk makes approximately $381 million on average in a week.
