Elon Musk made almost $12 billion in the past week as Tesla's stock soars. Here's how the eccentric CEO makes and spends his $45.2 billion fortune.
Elon Musk was nicely rewarded for Tesla's better-than-expected earnings report last week.Â
The automaker reported January 29 that it produced profits of $386 million during the fourth quarter, sending its share price up 26.3% and its CEO's net worth up nearly $13 billion in the last hour of trading, Bloomberg reported. The electric automaker's luck may be reversing, however â shares fell 21% in intraday trading Wednesday.
Despite a net worth currently hovering around $45.2 billion, Musk has never taken a paycheck from Tesla, refusing his $56,000 minimum salary every year. In January 2018, Tesla announced it would pay Musk nothing for the next 10 years â no salary, bonuses, or stock â until the company reaches a $100 billion market cap. If and when that happens, Musk could potentially overtake Amazon CEO Jeff Bezos as the richest person in the world.
Keep reading to find out what we know about how Musk amassed his fortune and how he spends it.
