Elon Musk is one of the world’s most successful and innovative entrepreneurs, with a net worth of $40.6 billion as of September 2020. He has been the CEO or co-founder of several companies, including PayPal, Tesla, SpaceX, Neuralink, and The Boring Company. With so many businesses under his belt, it’s no surprise that people are curious about how much money he makes. In this post, we’ll explore how much Elon Musk makes per hour.
To begin with, let’s take a look at his salary. As the CEO of Tesla, Elon Musk’s annual salary is only $1. However, this does not mean he doesn’t make any money. In fact, Musk’s compensation package is quite unique. According to reports, he receives stock options as part of his compensation, which allows him to buy shares of Tesla at a discounted rate. If the share price goes up, Musk can exercise these options and sell the shares for a profit. Therefore, his income is tied to the success of Tesla.
In addition to his salary and stock options from Tesla, Musk also has a stake in SpaceX. While the company is private and does not disclose financial information, reports suggest that Musk owns more than half the company. Therefore, any profits that SpaceX makes would contribute to his overall income.
Furthermore, Musk has invested in other businesses, such as SolarCity and Zip2, which have since been sold. Although details about the sale prices of these businesses are not public, it’s safe to say that Musk made a considerable amount of money from these investments.
So, how much does Elon Musk make per hour? To calculate this, we need to consider his net worth and divide it by the number of hours he works in a year. Assuming Musk works 80 hours a week (which is plausible based on his reputation for working long hours), this would be 4,160 hours per year. Therefore:
$40.6 billion net worth / 4,160 hours = $9.77 million per hour
This means that Elon Musk makes almost $10 million per hour. However, it’s important to note that this is an estimate and not an exact calculation. Musk’s income varies depending on the performance of his businesses and the stock market.
It’s also worth mentioning that while Musk’s income is impressive, he has stated that his main goal is not to accumulate wealth but rather to advance technology and make the world a better place. In fact, he has pledged to donate most of his fortune to charity. So while he may be one of the richest people in the world, his focus remains on his projects and achieving his vision for the future.
In conclusion, Elon Musk’s income is difficult to calculate precisely due to the nature of his compensation. However, based on our estimate, he makes almost $10 million per hour. His net worth is a reflection of his hard work and innovative approach to business, as well as his ability to take calculated risks. However, it’s important to remember that money is not Musk’s primary motivation, and he remains focused on using his resources to make a positive impact on the world.