Elon Musk net worth: How much will Twitter add to Tesla CEO’s riches?


As the world’s richest man – with a staggering net worth of $212billion – Elon Musk can afford to take a risk or two when it comes to business.

His latest endeavour, the purchase of Twitter, has raised eye-brows across the world – and not only because of the social media site’s astonishing price $44billion (£38billion).

The eccentric Tesla and SpaceX owner has already played down the purchase as a business move – instead saying ‘I did it to try to help humanity, whom I love’.

On Wednesday, the billionaire had changed his Twitter profile to identify himself as the ‘Chief Twit’ and posted a video of himself walking into the company’s San Francisco headquarters carrying a porcelain sink.

This fuelled rumours that he had had closed the deal to buy Twitter in which he shared the clip with the caption: ‘Entering Twitter HQ, let that sink in’.

And in the early hours of Friday morning, the billionaire posted on Twitter: ‘the bird is freed’ before several top executives in his first move at the top of the company.

Despite Musk’s now-famed business bravado, some have already suggested the entrepreneur has overpaid to take over the social media company, following months of negations which looked destined for the court room – with the billionaire fearing that the number of fake accounts on the platform was higher than Twitter claimed.

Twitter, who denied the accusations, filed a lawsuit to hold Musk to the deal which he was given a deadline of October 28 to complete.

But even with the site now taking up a fifth of his estimated net worth, it looks like it matters not for the South Africa born entrepreneur. 

That’s because, in the last week alone, his net worth has risen from $200billion to $212 billion according to estimates by Bloomberg.

On Wednesday, the billionaire posted a video of himself walking into Twitter’s San Francisco headquarters carrying a porcelain sink with the caption: ‘Entering Twitter HQ, let that sink in’

The SpaceX founder is currently thought to be the world's richest man. Will the Twitter takeover help or hinder him?

The SpaceX founder is currently thought to be the world’s richest man. Will the Twitter takeover help or hinder him? 

From being just shy of $20billion in 2019, the Tesla CEO has amassed fortunes at an alarming rate, hitting unbeatable figures of $212billion

From being just shy of $20billion in 2019, the Tesla CEO has amassed fortunes at an alarming rate, hitting unbeatable figures of $212billion

During the last week, Musk has seen his net worth rise by around $10billion in the last week, according to Bloomberg

During the last week, Musk has seen his net worth rise by around $10billion in the last week, according to Bloomberg

Most billionaires saw their net worth grow during the Covid-19 pandemic before then plummeting.

Business leaders that top the Forbes400 list have lost $315 billion collectively – although they still remain richer than they were before the pandemic brought things to a halt.

For Musk though, despite Tesla struggling like most tech companies this year, the entrepreneur-come-investor has come along way in a short amount of time when it comes to net worth.

From being just shy of $20billion in 2019, the newly crowned ‘Chief Twit’ has amassed fortunes at an alarming rate, hitting currently unbeatable figures of $212billion.

He overtook Amazon founder Jeff Bezos in 2021 to become the world’s richest man and later became the first person to have a net worth over $300billion. 

In a week where his Twitter deal was being finalised, his net worth continued to grow even higher.

A significant amount of Musk’s net worth is said to come from his stocks in automobile company Tesla, which he first invested into and became majority shareholder in 2004. He later became the CEO in 2008.

Despite Musk insisting that he does not believe in selling his shares, he was forced to sell around $7billion of his Tesla stock ahead of his court battles with Twitter.

In a week where Musk's Twitter deal was being finalised, Musk's net worth continued to grow even higher

In a week where Musk’s Twitter deal was being finalised, Musk’s net worth continued to grow even higher

Musk announced his Twitter takeover with a post saying: 'the bird is freed' before firing top executives at the company

Musk announced his Twitter takeover with a post saying: ‘the bird is freed’ before firing top executives at the company

Musk's stake in Tesla - which is the bulk of his net worth - is now valued at roughly $121billion

Musk’s stake in Tesla – which is the bulk of his net worth – is now valued at roughly $121billion 

Before his Twitter takeover, the South African had publicly criticised the platform's existing leadership team - in particular, attacking their policies on content moderation and censorship

 Before his Twitter takeover, the South African had publicly criticised the platform’s existing leadership team – in particular, attacking their policies on content moderation and censorship

His stake in Tesla – which is the bulk of his net worth – is now valued at roughly $120billion. However, according to FactSet, at the end of September, his stake stood at 14.9% of its outstanding shares – an investment valued at about $124 billion.

In addition to his Tesla wealth and now his new $44billion Twitter deal, his endeavours with SpaceX have generated stakes worth around $47billion. 

The three companies put together create the estimate for his staggering net worth. 

Among other business ventures, Musk also owns The Boring Company, which aims to defeat traffic using underground tunnels. 

It is believed, alongside his business interests, that Musk also has a number of high-value properties. 

Although it has been suggested that, relative to his extraordinary wealth, that he lives a fairly low-key life for a billionaire.

Musk has always been adamant that his father did not help him start his first business Zip2 (pictured together)

Musk has always been adamant that his father did not help him start his first business Zip2 (pictured together)

Musk graduated from the University of Pennsylvania in 1995 before his business endeavours (pictured left that year)

Musk graduated from the University of Pennsylvania in 1995 before his business endeavours (pictured left that year)

In 1995, Musk founded a web software company called Zip2 with his brother, Kimbal, and businessman Greg Kouri. Pictured: Musk (right) in 1995

In 1995, Musk founded a web software company called Zip2 with his brother, Kimbal, and businessman Greg Kouri. Pictured: Musk (right) in 1995

Musk went on to co-found X.com - an online financial service. It took off quickly - earning more than 200,000 customers during its initial months of operation

Musk went on to co-found X.com – an online financial service. It took off quickly – earning more than 200,000 customers during its initial months of operation

The company eventually merged with Confinity - who owned PayPal - and in 2000, Musk was replaced as CEO with Confinity founder Peter Thiel. The company then renamed X.com to PayPal, and sold it to eBay for $1.5 billion. Pictured: Musk and Thiel in 2000

The company eventually merged with Confinity – who owned PayPal – and in 2000, Musk was replaced as CEO with Confinity founder Peter Thiel. The company then renamed X.com to PayPal, and sold it to eBay for $1.5 billion. Pictured: Musk and Thiel in 2000

Musk then decided to start a company that could build its own affordable rockets - and SpaceX was born

Musk then decided to start a company that could build its own affordable rockets – and SpaceX was born

Musk invested $6.5 million - becoming the majority shareholder - in Tesla Motors in 2004, an electric car company. He became CEO in 2008

Musk invested $6.5 million – becoming the majority shareholder – in Tesla Motors in 2004, an electric car company. He became CEO in 2008

Before his Twitter takeover, the South African had publicly criticised the platform’s existing leadership team – in particular, attacking their policies on content moderation and censorship. He has also sparred with them over data on how many accounts were bots or spam.

The deal completion came at the eleventh hour – just one day before Musk was going to be dragged back into court after being sued by Twitter for a back-and-forth he had over whether he was going to buy the company.

While many are delighted at the new ownership of the social media platform, some have suggested Musk has seriously overpaid.

Dan Ives, an analyst at Wedbush Securities, told the US Sun that the deal ‘will go down as one of the most overpaid tech acquisitions in the history of M&A deals on the Street in our opinion’.

Some have questioned whether Musk has seriously overpaid for Twitter with one analyst claiming Twitter is worth closer to $25billion

Some have questioned whether Musk has seriously overpaid for Twitter with one analyst claiming Twitter is worth closer to $25billion 

The eccentric Tesla and SpaceX owner has already played down the purchase as a business move - instead saying 'I did it to try to help humanity, whom I love'

The eccentric Tesla and SpaceX owner has already played down the purchase as a business move – instead saying ‘I did it to try to help humanity, whom I love’

Musk sparred with Twitter executives over data on how many accounts were bots or spam

Musk sparred with Twitter executives over data on how many accounts were bots or spam

TIMELINE OF ELON MUSK’S CHAOTIC ATTEMPT TO TAKEOVER TWITTER 

April 2: Musk announces that he owns 9.2 percent of the company, making him its largest single shareholder 

April 14: Musk offers to take Twitter private at $54.20 a share, valuing the company at $44billion 

April 25: Twitter accepts Musk’s offer

April 29: Musk sells $8billion in Tesla shares to finance deal 

May 13: Musk says Twitter deal is on hold pending a review of bot accounts

May 26: Musk is sued by Twitter for stock manipulation during takeover 

July 8:  Musk says he’s backing out of the deal. 

Twitter sues, trying to force him into seeing it through.

October 4: Musk proposes again to go ahead with the deal at the original price

October 17: Proposed trial date in Delaware

October 26: Musk visits Twitter HQ with a sink, updates his bio on the site to ‘Chief Twit’ and sets his location to Twitter HQ

October 28: Musk Tweets: ‘the bird is freed’ and fires several top executives at Twitter 

Ives, who works for a LA-based investment firm, estimates the value of the company to be closer to $25billion rather than the $44billion.

‘With fair value that we would peg at roughly $25billion, Musk buying Twitter remains a major head-scratcher that ultimately he could not get out of once the Delaware Courts got involved,’ he said. 

Musk’s purchase of Twitter comes following a meteoric rise from his first business Zip2 – a web software company he founded with his brother, Kimbal, and businessman Greg Kouri in 1995.

The company was funded by angel investors and it created an online guide which provided newspapers with maps, directions, and yellow pages.

But the tech mogul has always been adamant that his father did not help him start his first business. He said that he and his brother paid for college through scholarships, loans and working two jobs simultaneously before angel investors helped the business.

Eventually, Zip2 was purchased by Compaq for $307 million in 1999. Through the sale, Musk received $22 million for his seven per cent share. 

He then went on to co-found X.com – an online financial service which took off very quickly, earning more than 200,000 customers in its initial months of operation.

X.com eventually merged with Confinity – who owned PayPal – in 2000 and Musk was replaced as CEO by its founder Peter Thiel.

A re-brand of the company saw X.com change to the financial tech firm PayPal, who later sold to eBay for $1.5billion, thus making Musk his millions.

As the largest shareholder in the company at the time, Musk received $175.8million from the sale and he would later go on to co-found SpaceX in 2002 before becoming majority shareholder in Tesla Motors in 2004.

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