Elon Musk is one of the most popular tech CEOs in the world. He took up a niche that no one really followed and made it his own. The CEO and founder of Tesla and the Boring Compay is worth about KES 8.8 Trillion and seems to be making more every day. Today many are asking the question, How does Elon Musk spend his money? Well, here’s what we found out.
Quick Note on How he made his money
Elon Musk is a South African-born American entrepreneur who founded many a company.
- X.com in 1999 (which later became PayPal); Sold for KES 100 Billion
- SpaceX in 2002: Worth KES 3.6 Trillion
- Tesla Motors in 2003: Worth KES 3 Trillion
- The Boring Company in 2016: KES 92 Billion
However, he really became a multimillionaire in his late 20s when he sold his start-up company, Zip2 for almost KES 34 Billion.
How Elon Musk Spends his Money
According to CNBC and Business Insider, Elon typically spends his money on four things houses, charity, cars and investments.
After Musk tweeted in early May that he planned to sell off nearly all of his physical possessions and “own no house,” multiple properties owned by the billionaire reportedly hit the market. He is selling and has sold quite a number of them for over KES 2 Billion. Including a 47-acre estate located in Hillsborough, California, a pricey location in the San Francisco Bay Area.
In 2015, Musk gave $10 million to the Future of Life Institute. This institute is aimed at ensuring that artificial intelligence technology is “beneficial to humanity.” He also reportedly donated Tesla stock valued at $255 million to his own charitable foundation, called the Musk Foundation.
The electric car CEO also owns a few interesting vehicles as well. In 2013, Musk paid nearly KES 100 million for a rare 1976 Lotus Esprit sports car.
It was used in the filming of the 1977 James Bond film “The Spy Who Loved Me.” (Here the sports car actually transformed into a submarine.)
Musk’s stable of cars also reportedly includes a 1920 Ford Model T, which he says was a gift from a friend, as well as a Jaguar Series 1 1967 E-type Roadster. Currently, he drives only Tesla cars including the new Tesla Truck.
Elon is known to typically invest back into his companies. Buying shares and stake of his own companies like the Boring company.
How would you spend your billions?