Summary: Elon Musk, the CEO of Tesla and SpaceX, is considered one of the wealthiest people in the world. With his multiple successful ventures, people often wonder how much he makes per second. In this article, we will explore various aspects related to Elon Musk’s earnings and try to find out exactly how much he makes every second.
1. Elon Musk’s Net Worth
According to Forbes, Elon Musk’s net worth as of March 2021 is estimated to be around $177 billion, making him the second wealthiest person in the world after Amazon CEO Jeff Bezos. This net worth includes his stakes in Tesla, SpaceX, and the Boring Company. Out of this, around 95% of his wealth is tied up in his stock holdings of these companies.
Musk’s net worth has been growing rapidly due to the skyrocketing stock prices of Tesla, which has surged over 600% in the past year, making it one of the most valuable companies in the world. Moreover, SpaceX has also been performing exceptionally well, with its valuation skyrocketing to almost $74 billion in a recent funding round.
All of this makes Elon Musk one of the biggest beneficiaries of the surge in the technology sector over recent years.
2. Elon Musk’s Yearly Earnings
Elon Musk draws a salary of only $1 a year from Tesla, which means that his annual earnings are not primarily based on his salary. Instead, his earnings are dependent on his stock options, which allow him to buy Tesla stock at a discounted rate.
In 2020, Musk earned over $11 billion thanks to his stock options. Moreover, he also received some bonuses and compensations for hitting some key milestones for Tesla, taking his total earnings to over $13 billion for the year. This was a staggering increase from his earnings of $595 million in 2019.
It’s worth noting that these earnings are only reported in the annual filings of Tesla. The actual amounts he earns on a day-to-day basis might be much higher due to fluctuations in stock prices.
3. Elon Musk’s Earnings Per Second
To calculate Elon Musk’s earnings per second, we need to divide his yearly earnings by the number of seconds in a year. Doing this for his reported earnings in 2020 would give us:
Earnings Per Second = ($13 billion) / (31,536,000 seconds in a year)
This gives us a value of approximately $412 per second, which is an astronomical figure. To put this in perspective, an average American worker earning the federal minimum wage of $7.25 per hour would need to work for around three and a half years to earn what Elon Musk makes in just one second.
4. Elon Musk’s Charitable Contributions
While Elon Musk’s wealth might seem excessive, he has been quite vocal about giving back to society. In 2012, he signed The Giving Pledge, committing to donate at least half of his fortune to charitable causes over his lifetime.
In 2020, he donated $5 million to Khan Academy, a non-profit organization that provides free education to students around the world. Moreover, he also donated $100 million towards a prize fund for the best carbon capture technology.
Musk has also pledged to sell most of his properties and possessions to fund his philanthropic efforts. Most recently, he put two of his mansions up for sale, citing a desire to simplify his life, with the proceeds going towards his charitable endeavors.
Conclusion:
In conclusion, Elon Musk is undoubtedly one of the richest people in the world, with his net worth estimated to be around $177 billion. While his earnings might seem astronomical, they are a reflection of his success in creating globally influential companies like Tesla and SpaceX. Moreover, he has been quite vocal about his desire to give back to society and has already donated millions towards charitable causes.
As for how much he makes per second, it’s safe to say that it’s an enormous amount, coming in at around $412 per second. Regardless of the amount, it’s evident that he has revolutionized the technology industry and will continue to play a significant role in shaping the world’s future.