Elon Musk’s net worth is estimated to be $1 billion by 2022.
Elon Musk’s net wealth is unknown.
With a personal wealth of $257 billion dollars, Twitter’s new owner is the world’s richest person.
According to the Bloomberg Billionaires Index, Elon Musk, whose $44 billion takeover proposal for Twitter was unanimously accepted by the social media company’s board of directors on Monday, is the world’s wealthiest person, with a current net worth of $257 billion.
Mr Musk’s fortune is $87 billion more than that of Amazon founder Jeff Bezos, who is the world’s richest person with a net worth of $170 billion.
In January of this year, the 50-year-old founder and CEO of electric car manufacturer Tesla and rocket business SpaceX was named the world’s wealthiest person, with a net worth of $273.5 billion, according to Bloomberg, which equated his fortune to that of John D Rockefeller.
“Mr Musk has surpassed the amount of wealth acquired by modern history’s richest individual, inflation-adjusted,” Bloomberg said at the time.
Mr Musk made his unexpected offer for Twitter on April 14 after becoming the microblogging platform’s biggest single shareholder with a 9.2 percent stake, or 73.5 million shares worth roughly $3 billion.
His bid price of $54.20 a share is a 38% premium to Twitter’s stock closing price on April 1, the last trading day before he publicly disclosed his interest in the firm.
Despite obtaining $46.5 billion to fund his quest to purchase Twitter, Mr Musk’s net worth has plummeted by $13 billion since the beginning of the year due to a mix of turbulent stock markets, the Russia-Ukraine situation, and the Covid-19 outbreak, according to Bloomberg.
Meanwhile, Mr Musk was named the world’s wealthiest person in Forbes magazine’s annual 2022 World Billionaires List earlier this month, with a personal worth of $219 billion.
Mr Musk’s net worth was calculated using stock prices and currency rates from March 11 in the Forbes yearly list, but the Bloomberg Billionaires Index is updated daily.
Mr Musk’s current net worth is $268.2 billion, according to the Forbes Real-Time Billionaires list, which is updated daily.
“Despite selling billions of dollars of Tesla shares late last year and paying taxes on those transactions, Musk is an estimated $68 billion wealthier than a year ago,” Forbes said in its annual edition.
According to a February 2021 regulatory filing, the Canadian-American billionaire, who was born in South Africa and has seven children, controls nearly 17% of Tesla.
According to statistics published by Bloomberg, his share in privately owned SpaceX is worth over $40.3 billion dollars.
Mr Musk has a history of using market-moving tweets to drum up interest in his businesses, which has gotten him in trouble with the US Securities and Exchange Commission.
After he tweeted in March that he holds Bitcoin, Ether, and Dogecoin and has no plans to sell them, the digital currencies skyrocketed.
Bitcoin, which had plummeted as much as 2.9 percent before to Mr Musk’s statement, recovered its losses before retreating. Ether was up 2.3 percent before losing some of its gains, while Dogecoin was up 3.8 percent.
Tesla’s stock plunged as much as 4.5 percent before the opening of trading in New York in November, after dropping almost 7% in premarket trading after Elon Musk asked his more than 80 million Twitter followers whether he should sell 10% of his stake in the electric car company. Yes was chosen by an overwhelming majority (58%) of the 3.5 million Twitter users that voted.
In the 1990s, Mr Musk earned his first million when he sold his first firm, Zip2, for more than $300 million. He later founded X.com, an online payment system that evolved into PayPal, which he sold to eBay in 2002 for $1.5 billion.