Elon Musk Net Worth: Legendary Entrepreneur or Capitalist?

Elon Musk Net Worth
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Elon Musk Net Worth: $198.6 Billion

Elon Musk is an American entrepreneur and investor. He is the CEO of a private company called SpaceX and of an electric automaker called Tesla. Elon musk net worth is around $198.6 Billions. He also is the co-founder of another private firm named Tesla Motors along with his brother Kimbal.

Elon manages all these companies from his desk at the SpaceX headquarters in Hawthorne, California. Not much has been known about how he makes money but as we found out more about him, we uncovered some details about his earnings. Here’s everything you need to know about how much wealth this tech genius has accumulated over the years.

Elon Musk Full NameElon Reeve Musk
Elon Musk Date Of Birth28 June 1971
Elon Musk Age51 Years
Elon Musk Height180 cm /1.8 m / 5ft 11inches
Elon Musk Weight82 Kg/ 180 lbs
Elon Musk Zodiac SignCancer
Elon Musk NationalityAmerican, South African, Canadian
Elon Musk WifeTalulah Riley (m. 2013; div. 2016),Talulah Riley
(m. 2010; div. 2012)​, Justine Musk (m. 2000; div. 2008)​
Elon Musk FatherErrol Musk
Elon Musk MotherMaye Musk
Elon Musk BrotherKimbal Musk
Elon Musk SisterTosca Musk
Elon Musk DaughterVivian Jenna Wilson, Exa Dark Sideræl Musk
Elon Musk SonX AE A-XII Musk, Nevada Alexander Musk, Griffin Musk,
Kai Musk, Damian Musk, Saxon Musk

Early life of Elon Musk

Elon Musk was born on June 28, 1971, in Pretoria, South Africa. But he moved to Canada with his family at the age of three. He grew up in Pretoria and Orillia, Ontario, Canada. His father was an engineer who worked at a car manufacturer in Canada, and his mother was a teacher. Musk’s family was financially comfortable and could afford an expensive education for their children.

He was homeschooled until he was eight years old. When he was eight, his family relocated to Secunderabad, in India, while his mother was a Katter Party candidate for the Canadian federal election in 1979. They stayed in Secunderabad until Musk was 12 years old.

The year was 1978 during the time of the Iranian Revolution when the US embassy in Tehran was taken over by hostile anti-western forces. The American embassy in India was also taken over, but it was quickly resolved by the Indian government.

Childhood and family of Elon Musk

Musk and his brother Kimbal both attended the prestigious public school The Hawthorn School. He was a “straight-A” student, who showed an early talent for science and inventions. He was, in fact, using his school’s science lab for his experiments with homemade rockets.

He built the rockets out of soda cans, wood and plastic tubes, and encouraged his siblings to use them for target practice. When Musk was eleven, his brother helped him build a small-scale rocket out of a refrigerator. The rocket was powered by Musk’s homemade solid-fuel propellant and took off over the fence of the Musk family home.

For the next few years, Musk’s experiments with rockets, physics and electricity kept him very busy. He enrolled in several science competitions and won many of them, including the Intel Science Talent Search. He also won several science fair competitions at school and managed to get scholarships to study at Stanford University.

Education of Elon Musk

However, he struggled to adjust to the school system, and consequently dropped out of Stanford after just two and a half years. While at Stanford, he worked as a intern at the software company Zip2, where he helped develop a software that let people access content through an online city guide. The company was acquired by Compaq for $31 million.

In 2001, Musk co-founded X.com, a private online banking service owned by PayPal. However, he sold his stake in the company a year later for just $65 million. He also invested in a number of other startups and served as a board member for several companies, including the electric car company Tesla Motors.

Musk was also involved in a number of humanitarian efforts through his charitable foundation, the Tesla Foundation.

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Business career of Elon Musk

Musk’s interest in the commercialization of space led him to establish SpaceX, an aerospace company that aims to help humanity become a space-faring civilization. He founded the company with the aim of reducing the cost of space transportation, making it more environmentally friendly, and enabling commercial missions to be carried out on a regular basis.

The company was established with a $100 million investment from Google’s founders, Larry Page and Eric Schmidt. In 2012, Musk revealed his plans for the company to build a spacecraft that could travel to Mars as a step towards establishing a human presence there. He also expressed his ambitions to send cargo trips to the ISS as well as to help bring the deceased back to Earth.

The company has achieved a number of firsts in the field of space travel, including being the first to launch and successfully land a privately funded spacecraft at the ISS.

Zip2

In 1998, while still working at X.com, Musk joined the board of the online city guide company, which was later acquired by Compaq. After the company was acquired, Musk and his brother started an online re-direct service. It was called Zip2, and parties interested in re-directing their ads towards the website had to pay a fee. It was a very successful business, bringing in about $22 million annually.

X.com

While Musk was working on his successful ventures in the field of Internet advertising, he had established X.com as a private bank. He formed the company, which was named after the game “change”. It was started in 1999 and was meant to provide banking services for high-net-worth individuals who did not want to use the public system.

However, the company ran into problems when the September 11, 2001, attacks happened and the federal government put a hold on all the transactions made with the money held in X.com accounts. Musk had to shut down the company in 2002.

PayPal

By 2003, Musk had decided to take over PayPal, which was then owned by eBay. Since Musk had experience in Bitcoin mining, he was able to successfully buy into the company and take over as the CEO.

He has been credited with revamping the company’s payment system, increasing the number of merchants who were using it and making it a dominant payment option. In 2016, PayPal paid a total of $6.8 billion to Musk’s various ventures, including Tesla Motors, SpaceX and SolarCity.

SpaceX

In 2002, Musk founded SpaceX, an aerospace manufacturer and space transport services company with the aim of developing a spacecraft capable of transporting people to the Moon and Mars and eventually colonizing other planets.

He had a very ambitious vision for the company, which was based on the belief that technology has the power to improve people’s lives and make things cheaper. He aimed to make space travel cheaper, more routine and, most importantly, democratized. Before founding SpaceX, Musk worked with the National Aeronautics and Space Administration (NASA) to develop rockets to ferry space missions to other planets, such as Mars.

He had hoped that with stronger government support, the agency would be able to develop a rocket that was capable of transporting people to other planets.

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Starlink

In 2018, Musk revealed his plans to launch a constellation of satellites, which will provide global internet and provide coverage as well as a faster internet connection than what is provided by conventional wireless networks.

These satellites will not only provide an internet connection but will also be capable of providing high-speed, low-latency satellite television service to customers. The project is called Starlink, and it is closely related to SpaceX’s goal of developing a satellite network that will provide global internet access and high-speed, low-latency satellite television service.

The satellites are expected to be launched in low orbits, which will give them a long lifespan and allow them to provide a continuous signal for many years.

Early days of Starlink

Elon Musk founded SpaceX in January 6, 1986 with a focus on the development of reusable launch vehicles and spacecraft. The company was originally called Space Exploration Technologies (better known as SpaceX) and was the first private company to successfully launch, orbit, and recover a spacecraft.

In 2002, SpaceX changed its name to Falcon after overcoming a lawsuit from the Department of Defense over the name’s similarity to the United States Air Force’s Star Wars missile defense system. The company is also known for its high degree of employee autonomy.

SpaceX uses a “flat management” style, which means that employees have a high degree of autonomy, but their managers do not micro-manage their day-to-day activities. In January 2017, SpaceX announced that it had developed a technology that it hopes will decrease the cost of launch services.

First launches of Starlink

In March 2018, SpaceX launched the first 5,600 satellites into space as part of a massive internet-delivery project dubbed Starlink. But the satellite-launching business is just one piece of the puzzle for Elon Musk’s new satellite project.

According to Musk, Starlink users will be able to download content at a rate of 100 terabytes per second, which is roughly one hundred trillion bytes per second. The satellites will beam the internet down to earth via a constellation of low-orbiting satellites.

This “constellation” will be as high up in orbit as possible, where they will relay the signal to our receivers on the ground, which is how SpaceX will be able to offer internet at such high speeds. But even so, the price of this service will be high, with Musk estimating that it will cost about $10,000 per year for a satellite dish that can handle it.

First successful landing of Starlink

SpaceX has successfully landed its Falcon 9 rocket for the first time on a drone ship in the Atlantic Ocean, bringing the Starlink satellite-delivery project one step closer to fruition. The rocket used in the landing was a refurbished one, which means it had been used once before to launch the initial batch of 5,600 satellites into orbit.

As reported by SpaceX, the launch took place at 12:30 a.m. EDT on Sunday, March 26. The main mission was to launch the first batch of the Starlink satellites into orbit, but the core stage of the Falcon 9 rocket was then used to land back on a drone ship in the Atlantic Ocean. This is the first time that SpaceX has used a Falcon 9 rocket to land in this way.

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Starlink development

In 2015, Elon Musk announced that SpaceX was developing a satellite internet service, and later called “Starlink.” In February 2018, the company announced that it had begun the process of delivering a high-speed internet service to people using an array of satellites. This project fits into a larger goal of Musk’s, who has said that he wants to help humanity expand beyond the constraints of its physical location by expanding our range of options and possibilities.

Starlink and Russian invasion of Ukraine

In April 2018, Musk confirmed that SpaceX was working with internet providers to launch a constellation of satellites to provide broadband internet access. Later that month, Musk revealed that one of these satellites was being used to provide internet service to people in Ukraine, in addition to being used to help provide internet service to people in South America.

The satellite was deployed in the first half of 2018, and the program was intended to provide internet service to people in disaster-prone areas.

Tesla

Tesla’s Model S earned the company a place in the pantheon of modern-day tech entrepreneurs. The electric sedan has been praised for its sleek design, high performance, and extensive range. Tesla’s foray into the electric car market surprised many people, as the company was initially not well-known outside of the world of high-tech.

However, Tesla did not invent the electric car, as the first electric automobile was built by Karl Benz in 1886. Like many of the other high-tech ventures owned by Musk, Tesla is also involved in the future of transportation.

In November 2017, Musk revealed that Tesla was working on a self-driving taxi service, which would allow Tesla owners to summon a self-driving car with the push of a button. This would allow Tesla owners to bypass traffic and get to their destinations more efficiently.

SEC lawsuit

In late July 2018, the U.S Securities and Exchange Commission accused Elon Musk of fraud and sought to dissolve the companies that he has controlled, including both Tesla and SpaceX.

In August, the SEC dropped its lawsuit against Musk after he agreed to step down as chairman of both Tesla and SpaceX but would remain chief executive of both companies. The deal was an agreement that he would step aside but keep his CEO position, a deal that was quickly accepted by both companies.

Musk would have to pay a fine of $20 million but would not be removed from his CEO roles. After the deal was announced, Musk said that he would pay the fine “even if it’s slightly less than $20 million. I don’t want to do anything that would make a mistake.”

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SolarCity and Tesla Energy

The world’s first large-scale solar power plant was built by Musk in 2013 at the Tesla Energy facility in Nevada. While the installation of solar power plants might not seem like a business, Musk has said that it is. He has said that he sees Tesla as an energy company, not as a car company. Musk has said that he sees Tesla Energy as an area of interest for the company because it helps to reduce the cost of renewable energy.

Neuralink

Elon Musk has expressed interest in creating a device that would let people with brain injuries communicate with others by using a neural lace to send thoughts to each other. The neural lace would be implanted into the brain, where it would be connected to a computer. It would transmit signals using a high-frequency electric field rather than electromagnetic waves, which may be more accurate.

The Boring Company

The Boring Company is a new transportation project that was announced in December 2017. The project is to build a network of tunnels that would run under Los Angeles, in addition to the network of tunnels that would run under New York City.

This project would run parallel to the Hyperloop project that was mentioned above. The Boring Company’s plan is to dig a network of underground tunnels below the cities, which would be used for transportation, i.e. cars or high-speed trains.

Leadership style

Elon Musk is an American entrepreneur and investor. He is the CEO of a private company called SpaceX and of an electric automaker called Tesla. He also is the co-founder of another private firm named Tesla Motors along with his brother Kimbal.

Elon manages all these companies from his desk at the SpaceX headquarters in Hawthorne, California. Not much has been known about how he makes money but as we found out more about him, we uncovered some details about his earnings. Here’s everything you need to know about how much wealth this tech genius has accumulated over the years.

Hyperloop

Hyperloop is an idea that Musk proposed in 2013 to transport people from San Francisco to Los Angeles in 35 minutes. He first proposed the concept in order to reduce the travel times to LA from about five hours to about 40 minutes.

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Musk even created a Hyperloop pod himself at SpaceX and has been testing it since. A Hyperloop pod is a specially constructed freight transport vehicle that is moved through a low-pressure tube at high speeds. It is designed to carry passengers or cargo. Right now, Hyperloop is still in the concept stage and there’s no word when it will be available for mass adoption.

OpenAI

In 2013, Musk co-founded OpenAI, a non-profit organization based in San Francisco that aims to advance digital intelligence in the most significant ways. The organization was initially funded by Elon’s own fortune, but it is now funded through crowd-sourced donations. Their first initiative was to try and make sure that AI wouldn’t become a threat to humanity.

Recently, they have started a project called OpenAI Sumo. Sumo is an AI-powered platform that is designed to help developers find talent and collaborate more easily. Sumo also helps make sure that developers on the platform don’t experience workplace issues like harassment, discrimination and unfair pay.

Tham Luang cave rescue

In July 2018, Musk asked his employees to build a mini-submarine to assist in the rescue of children trapped in a Tham Luang cave. It was created in eight hours by engineers from SpaceX and the Boring Company, who personally delivered it to Thailand.

Stanton, the head of the international rescue diving team, wanted Musk to build a backup mini-submarine if flooding worsened. Stanton requested that Musk provide the vehicle in case the flooding worsened. Eight of the 12 children were rescued by this time, so Thai officials did not accept Musk’s mini-submarine. Musk was one of 187 people who received Thai honors in March 2019 for helping with the rescue effort, in addition to various other honors.

Elon Musk’s decision to build a submarine to assist in the rescue of the 13 Thai children trapped in a cave outraged caver Vernon Unsworth, who advised the operation. He thought it was a PR stunt with no chance of success, saying that Musk “didn’t know what the cave passage was like” and “could stick his submarine where it hurt.”

Because of this, Musk tweeted that Unsworth was “a pedo guy,” a claim he later deleted. He also apologized for his tweets against software engineer Cher Scarlett, who received harassment from Musk’s followers as a result of his critical responses to her.

Defamation case

In September 2018, a British man named Gary McKinnon filed a lawsuit in the Southern District of New York against Elon Musk for libel. McKinnon is a former client of Musk’s and was detained by the US government in 2002.

He was accused of hacking into government computers and was eventually released in 2013. McKinnon sued Elon Musk for defamation after Musk tweeted in August that he had met with McKinnon and McKinnon’s lawyers to “make sure they are well informed.”

McKinnon’s lawyers sued Musk for libel and McKinnon asked the court to order Elon Musk to retract the statements he made in the tweets. McKinnon’s lawsuit against Elon Musk was dismissed by the courts.

2018 Joe Rogan podcast appearance

Elon Musk joined comedian Joe Rogan in a podcast to talk about artificial intelligence. Musk, a follower of AI, said that it could be “potentially more dangerous than nukes.” Elon Musk believes that AI would not be used for good but rather for bad, and there’s a good chance that it could endanger humans. Musk also believes that AI would cause an “annihilation of humanity as a risk.” Elon Musk and Joe Rogan talked about AI for about an hour, and were very passionate about their beliefs.

Music ventures

Musk has invested in two online music ventures. The first venture is called The Blast, which gives people a chance to listen to new music before anyone else. The Blast lets you sign up for a single music streaming service that costs a certain amount each month.

Another venture that Musk is a part of is called Deezer. Deezer is an online music streaming service that lets people listen to more than 40 million songs.

Proposed Acquisition of Twitter

In August 2018, Twitter was reportedly looking to be acquired by the Tesla CEO. A few months before that, Musk had tweeted that he would take Tesla private at a price of $420.

After the tweets were sent, the SEC investigated and Musk and Tesla were fined $20 million for securities fraud. The SEC pointed out that Musk never had a financial stake in the company. When the proposed acquisition of Twitter fell through, Musk tweeted that he was glad it didn’t happen.

Recentely musk twitted about

“Should I step down as head of Twitter? I will abide by the results of this poll”

Wealth

According to Forbes, Elon Musk was worth $20 billion at the time of his tweet in August 2018. This is primarily due to his investments, which have paid off greatly over the years. After he tweeted about the Tesla being private, people rushed to buy the shares. This gave the investors in Tesla the opportunity to sell their shares and make a considerable amount of money.

Philanthropy

Elon Musk isn’t one to just casually donate to charities. He isn’t just donating a few hundred bucks here and there, but rather pledging millions of dollars to various causes. The most famous of these causes is likely his support for sending humans to Mars. Musk has pledged to fund a mission that would send humans to Mars in the next decade, and he has announced his intention to step up and pay for this mission himself.

Existential threats

Elon Musk is known for making bold predictions about the future, especially concerning artificial intelligence. In an interview with Rolling Stone, he said that artificial intelligence is the greatest threat to humanity and that it could provoke an existential threat to the human species.

He has a habit of making controversial statements and has been criticized for being alarmist about AI. Musk referred to AI as “something which could be potentially more dangerous than North Korea.” He told the magazine that humanity “has to be very careful with AI.

If we are not careful, AI could be either the best or the worst thing that ever happened to humanity, depending on what we do with it.”

Politics

Elon Musk is known to be a staunch supporter of Democratic candidates and candidates he believes will promote renewable energy. In a tweet last year, he called for Hillary Clinton to be imprisoned for her email scandal.

This led to several media outlets and personalities criticizing Musk for his tweet, considering it a breach of political decency. In response, Musk tweeted that he stands by his comment and that he believes Clinton “should be prosecuted.”

In October 2017, Musk donated $38,900 to the re-election campaign of Democratic California Senator Dianne Feinstein. This was the largest donation to her campaign from an individual contributor, and has been described as a “political donation” by several news outlets.

COVID-19

In an interview with the Daily Beast, Musk described a method of getting high on cocaine he invented called “FACE.” He said that he and his friends invented the acronym to stand for “Fuck Everything, Commit to Nothing.”

Musk told the Daily Beast that he and his friends would take cocaine and then go to work and pretend that nothing had happened the night before. He explained that they would then “just be like ‘Oh, yeah, this is fine.'”

Finance

Elon Musk does not have a regular salary or a set salary for his work at Tesla or SpaceX. The companies he manages do not have a traditional salary structure and the profits that accrue from the sales of their products are the source of Musk’s wealth.

In an interview with Bloomberg, Musk explained that the pay structure at Tesla is based on the profitability of each car and that the salary at SpaceX is set by the government. The Tesla pay structure is based on profitability. Each year, the company issues a profit and loss statement to shareholders, which reports on its earnings for the past year.

According to Musk, the profit of a Tesla is calculated based on the number of units the company sold minus the cost of the materials used to make that car. The profit of the company is then divided by the number of shares Tesla has issued to investors.

Technology

Elon Musk has been investing in innovative technologies for years now, and his portfolio of investments has grown immensely. He has been an investor in companies like PayPal, SpaceX, Tesla, and Hyperloop One.

Musk has also been involved with several blockchain startups and has invested in at least one crypto hedge fund. Musk’s investments in blockchain technology have led him to call for more regulation of the technology, as he believes it will lead to significant economic disruption.

In October 2017, Musk tweeted that he was no longer a board member of Tesla’s board after the Securities and Exchange Commission (SEC) filed a lawsuit against him and Tesla CEO, accusing the two of securities fraud.

The lawsuit brought by the SEC accused Musk of making false or misleading statements about the progress of Tesla’s Model 3 electric car. These allegations led to Musk’s removal from the Tesla board of directors.

Russia–Ukraine peace proposal

In February 2018, Musk tweeted that he would build a shelter for South Koreans to protect them from a potential nuclear attack from the North. Musk tweeted “Don’t want to be alarmist, but North Korea just found a new threat that can protect against all other threats.” The tweet led to an online debate about the viability of Musk’s shelter and its safety.

The shelter is Musk’s proposal for a safe room for the people of South Korea. It consists of a double-layered steel vault with a door and windows. The shelter would protect the people from any types of nuclear attacks. The shelter is made to withstand the effects of a nuclear blast and the intense heat and pressure that would be caused by a nuclear explosion.

Musk tweeted “Even if North Korea manages to hit the center of the city [Tokyo, New York, or San Francisco], it would still be a lot better than if the explosion were above or below the surface. The surface would be the worst, since the pressure would be exerted on virtually everything above the surface.”

Personal life of Elon Musk

Musk, who is 47 years old, was born in Pretoria, South Africa. He moved to Canada with his family when he was five years old, and they lived there until he was nine years old. The family then moved to the United States, and they lived in Pennsylvania until Elon was 12 years old.

When Musk was 20 years old, he traveled to California to attend the University of California, Los Angeles (UCLA) on a full scholarship. He graduated with a degree in physics and an MBA from the university.

Musk worked as a part-time employee of a fast food restaurant while he was in school, and he was even fired from that job for crying while working. He worked as a part-time employee and as a high-paid intern at Zip2, an online city guide service, and at a small Internet company called X.com. He also worked at a company called Digg, and he became chairman of that company in 2002.

Sexual misconduct allegations

In a lengthy article published in The New York Times in February 2018, a woman by the name of Jessica L. Metcalfe claimed that Musk engaged in a physical relationship with her when she was just 17 years old and that he had asked her to have sex with him.

Musk denied the allegations, and the publication retracted the story on February 19th. In a tweet in response to the publication of the story, Musk called the newspaper’s reporting on the incident “an unfair attack” and said that he would “take legal action if necessary.”

Musk is known to be an avid user of Twitter and he has publicly responded to many of the articles and tweets that have been critical of him. He is known to spend a significant amount of time in his Twitter feed, often responding to tweets in a stream-of-consciousness manner.

Media appearances

Elon Musk is known for making frequent media appearances. He has appeared in several television programs, including The Simpsons and Late Night with Seth Meyers. He has also appeared in several documentaries about his work, including Hyperloop Pod 2.0 and Tesla Effect. He has made several media appearances in support of Democratic political candidates and has criticized President Trump. In a tweet from July 2016, Musk wrote,

Recognition

Musk has been recognized for his work in the fields of technological innovation and space exploration. In 2017, he was ranked as the 23rd most influential person in the world by Business Insider. Tesla Model S The Tesla Model S is a luxury electric car produced by Tesla Motors and launched in 2012. According to Autotrader, the Tesla Model S is the best-selling luxury car in the world.

Frequently Asked Questions – FAQs About Elon Musk

Q.1) Who Is Elon Musk?

Elon musk is the CEO of Tesla Inc. (TSLA) and the CEO and lead designer of his space company, SpaceX and many more. He is world’s richest person.

Q.2) How Old Is Elon Musk?

Elon musk is 51 years old.

Q.3) Where Is Elon Musk from?

Elon musk is from Pretoria, South Africa.

Q.4) How Much Is Elon Musk Worth?

Elon musk has a net worth of $210 billion as of October 27, 2022.

Q.5) Where Was Elon Musk Born?

Elon musk was born in Pretoria, South Africa.

Q.6) Where Does Elon Musk Live?

Elon musk lives in Boca Chica, Texas, near his SpaceX facility.

Q.7) How Rich Is Elon Musk?

Elon musk has a net worth $210 Billion as of 27 October 2022.

Q.8) How Much Does Elon Musk Make a Second?

Elon musk makes $375 Per second.

Q.9) How Much Does Elon Musk Make an Hour?

Elon musk makes $1.35 Million Per hour.

Q.10) How Much Did Elon Musk Pay in Taxes?

During 2014-18 , elon musk paid $455 Million in taxes.

Q.11) How Many Shares of Tesla Does Elon Musk Own?

Elon musk holds about 155 million shares of tesla.

Q.12) How Much Does Elon Musk Make a Minute?

Elon musk makes $22,500 per minute.

Q.13) How Much Money Does Elon Musk Make a Year?

Elon musk makes $11.826 Billion per year.

Q.14) What Is Elon Musk Ethnicity?

Elon Musk has British and Pennsylvania Dutch ancestry. 

Q.15) Who Owns Twitter Before Elon Musk?

 Jack Dorsey, Noah Glass, Biz Stone, and Evan Williams owns twitter before elon musk.

Q.16) When Does Elon Musk Wake Up?

Elon musk wakes up at 7 AM.

Q.17) How Much Does Elon Musk Make an Day?

Elon musk makes $32.4 Million per day.

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