by Christy Gren Born on June 28, 1971, in Pretoria, South Africa, Elon Musk demonstrated an early aptitude for technology and entrepreneurship. At the age of 12, he sold a homemade video game called Blastar for approximately $500. After moving to Canada and later to the United States, Musk attended the University of Pennsylvania, earning degrees in both economics and physics. In 1995, Musk co-founded Zip2, a company that provided business directories and maps for newspapers. Compaq acquired Zip2 for nearly $300 million in 1999. He then founded X.com, an online payment company that eventually became PayPal and was sold to eBay for $1.5 billion in 2002. These early ventures laid the financial foundation for his subsequent endeavors. Building an Empire: Tesla, SpaceX, and Beyond In 2004, Musk joined Tesla Motors, an electric vehicle company, as an investor and chairman. He became CEO and product architect in 2008. Under his leadership, Tesla introduced groundbreaking electric vehicles, including the Roadster, Model S, Model X, and Model 3. As of early 2025, Musk owns approximately 13% of Tesla’s stock, with additional stock options bringing his effective stake to about 21%. SpaceX: Pioneering Space Exploration Founded in 2002, SpaceX aims to reduce space transportation costs and enable the colonization of Mars. Musk holds about 42% of SpaceX through a trust, with the company valued at nearly $350 billion as of December 2024. SpaceX’s advancements in reusable rocket technology and its role as a contractor for NASA have solidified its position as a leader in the aerospace industry. Other Ventures: Neuralink, The Boring Company, and xAI Beyond Tesla and SpaceX, Musk has initiated several other ventures. Neuralink focuses on developing brain-computer interface technology, while The Boring Company aims to reduce traffic through underground tunnel systems. In 2023, Musk founded xAI, an artificial intelligence company, which was valued at $50 billion in November 2024. The Role of DOGE: Government Efficiency and Controversy In late 2024, Musk was appointed to lead the Department of Government Efficiency (DOGE) under President Donald Trump’s administration. The department’s mission was to streamline government operations and reduce wasteful spending. Musk’s leadership was marked by aggressive cost-cutting measures, including the elimination of several federal agencies and programs. Controversies and Challenges Musk’s tenure at DOGE was met with criticism and controversy. The department’s policies resulted in significant job losses and the dismantling of programs, which were viewed as essential by many. Musk faced backlash for the perceived negative impact on public services and the federal workforce. Departure from DOGE In early 2025, Musk resigned from his position at DOGE. He expressed disappointment that the department had become a scapegoat for broader government inefficiencies. Despite his departure, Musk indicated that he would continue to advise President Trump on matters of government efficiency. Personal Life: Family, Relationships, and Public Image Musk has been married three times: to Justine Wilson (with whom he has five sons), and twice to Talulah Riley. He has two children with musician Grimes, and reportedly ten children total. In 2022, rumors of an affair with Nicole Shanahan, wife of Google co-founder Sergey Brin, surfaced, though unconfirmed. Public Perception and Controversies Musk’s actions and statements often attract media attention and public scrutiny. His leadership style and public behavior have been both praised for innovation and criticized for unpredictability. These factors contribute to the complex narrative surrounding his personal and professional life. Financial Fluctuations: The Rise and Fall of Wealth Despite his enormous fortune and influence, Elon Musk faced significant financial headwinds in the first quarter of 2025. His net worth dropped by a staggering $81 billion during January and February alone, marking one of the sharpest personal wealth declines in modern financial history. The primary causes of this slump were linked to declining Tesla stock prices and investor unrest following Musk’s deepening involvement in government activities. Tesla’s market cap dipped substantially during this time, largely due to disappointing quarterly sales figures and aggressive cost-cutting measures that drew criticism from environmental groups and labor advocates. Compounding this was Musk’s leadership of the Department of Government Efficiency (DOGE), which had become a political lightning rod and drew his attention away from Tesla’s core operations. Tesla’s Struggles and Leadership Crisis Tesla’s performance in 2025 has been far from stellar. While once seen as a symbol of the future of transportation, the company has faced a perfect storm of market saturation, increased competition from legacy automakers, and internal unrest. The European Union implemented stricter trade regulations, and regions like Quebec introduced policies that reduced incentives for electric vehicle buyers. As a result, sales figures from traditionally strong markets showed steep declines. Investors were also growing increasingly wary of Musk’s commitments. His dual role in running a federal department while leading multiple corporations created unease among Tesla’s board and shareholders. Many began questioning his ability to effectively steer the company during a turbulent period. By mid-2025, murmurs within Tesla’s upper echelons had transformed into formal demands. Several high-profile institutional investors pushed for a change in leadership, claiming that Musk’s “absentee CEO” role had directly contributed to the company’s declining performance. Some reports suggested that certain board members were considering electing a new CEO or restructuring executive leadership to dilute Musk’s control. These events impacted Elon Musk’s net worth significantly. The declining value of Tesla stock—by far the largest component of his financial portfolio—accounted for over $60 billion of the loss, while other investments also suffered as investor confidence wavered. A Closer Look at Musk’s Earnings from Each Venture To truly understand the breadth of Elon Musk’s wealth, it’s important to break down how each of his ventures contributes to his net worth: Tesla