Who is the No 1 Richest Man in the World?

Filed in Articles by on July 19, 2023

It means so much to know about the richest human on earth. It gets interesting to know the source of his wealth, his early life, and more. Elon Musk is currently the number 1 richest man in the world and we are going to look at his life.

Elon Musk really came to the limelight when he topped the list of the world’s richest humans in late 2022.

Moving into this year, he came down the list and today he has gone back to the top after a few big deals in the past few months.

Elon Musk: The Richest Man

Elon Reeve Musk was born in Pretoria, South Africa, and attended the University of Pretoria for a short time before relocating to Canada at the age of 18, where he obtained citizenship through his Canadian-born mother.

He enrolled at Queen’s University in Kingston, Ontario, two years later, and then went to the University of Pennsylvania, where he earned bachelor’s degrees in economics and physics.

In 1995, he relocated to California to attend Stanford University. He dropped out after two days and co-founded Zip2, an online city guide software company, with his brother Kimbal.

In 1999, Compaq purchased the business for $307 million, and Musk used $12 million of the proceeds to co-found X.com, a direct bank. In the year 2000, X.com combined with Confinity to establish PayPal.

Who are Elon Musk Parents?

Elon Musk’s family heritage is a diverse tapestry. His mother, Maye Musk, a renowned model and dietitian, hails from Saskatchewan, Canada, with roots in South Africa.

Meanwhile, his father, Errol Musk, is a multifaceted South African electromechanical engineer, pilot, sailor, consultant, and property developer.

Musk’s upbringing enjoyed prosperity, and his father was involved in anti-apartheid politics. Despite their 1980 divorce, he primarily lived with his father, leading to later estrangement.

Elon has younger siblings, Kimbal and Tosca, and paternal half-siblings, creating a rich tapestry of experiences across continents.

Elon Musk Educational Background

Elon Musk’s educational journey traversed borders and schools. He attended Pretoria Boys High School, Bryanston High School, and Waterkloof House Preparatory School in South Africa before venturing to Canada.

Born in South Africa, Musk sought a Canadian passport through his mother for easier entry. During the processing period, he briefly studied at the University of Pretoria.

In 1989, he arrived in Canada, spending a year in Saskatchewan before enrolling at Queen’s University and later transferring to the University of Pennsylvania (UPenn).


Elon’s Entrepreneurial Spirit as a Student

Amid his academic journey, Musk’s entrepreneurial spirit emerged with a business plan for an electronic book-scanning service and ticketed home parties to fund his studies. Interning in Silicon Valley further fueled his aspirations.

Though accepted into Stanford University’s Ph.D. program, he opted for an Internet opportunity, ultimately joining Netscape.

This transformative educational path paved the way for Musk’s groundbreaking ventures and innovations in various industries.

What are Elon Musk’s investments?

The title of the world’s richest person might vary on any given day, based on business share prices, although Elon Musk has held it numerous times.

Musk has been dubbed a genius for his business acumen, communication style, and role as a tech visionary.

Let’s take you through Elon Musk’s businesses and how he sails through financially:

1. PayPal

Elon Musk co-founded X.com, which later merged with Confinity to become PayPal in 2001. PayPal was acquired by eBay in 2002 for $1.5 billion, with Musk holding the largest stake at 11.7%.

After the sale, Musk utilized the proceeds to invest in SolarCity, Tesla, and SpaceX.

2. SpaceX

SpaceX, founded by Musk in 2002, aims to revolutionize space technology, including Mars travel.

Notably, SpaceX launched the Falcon rocket in 2008 and the Dragon spacecraft to the International Space Station in 2010.

The company is a key participant in NASA’s Artemis program, with contracts totaling $4.05 billion.

3. DeepMind Technologies

As an early investor, Musk supported DeepMind, an AI startup, which was later acquired by Google in 2014. Musk’s interest in AI is driven by concerns about its potential impact on humanity’s future.

4. Tesla Automobiles

Though not part of the original team, Musk provided early funding for Tesla in 2004. He became CEO in 2008 and has since overseen the company’s growth.

Tesla aims to popularize affordable electric vehicles, with diverse models like the Model S, Model X, Model 3, and Roadster.

5. The Boring Company

Founded in 2017, The Boring Company focuses on building tunnels to alleviate traffic congestion.

One of its projects is the LVCC Loop, a $48.6 million underground tunnel beneath the Las Vegas Convention Center, operational since April 2021.

6. Twitter

In 2009, Elon Musk became a member of the popular social media platform Twitter. Under the handle @elonmusk, he gained immense popularity and amassed over 85 million followers by 2022.

The board of Twitter decided to sell the firm to Musk in April 2022 for $44 billion after Musk revealed a 9.1% share and threatened a hostile takeover.

After Musk tried to back out and Twitter filed a lawsuit, the sale was finalized in October 2022. Currently, Musk is thought to possess 74% of the business.

What is Elon Musk Current Net Worth?

Currently, Elon Musk is worth 256.2 billion USD. His contributions continue to shape industries and inspire future generations.

His relentless pursuit of innovation and groundbreaking ventures in space exploration and electric vehicles has propelled him to become the wealthiest individual in the world.

CSN Team.

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