How billionaire Tesla and SpaceX CEO Elon Musk went from getting bullied as a child to becoming one of the most successful and controversial men in tech (TSLA)
Summary List Placement It seems like there's nothing Elon Musk can't do. As CEO of SpaceX and Tesla, founder of The Boring Company, and cofounder of OpenAI and Neuralink, Musk seems to be everywhere all at once, pushing all kinds of futuristic technologies. He's said he won't be happy until we've escaped Earth and colonized Mars. Between space rockets, electric cars, solar batteries, and the billions he's made along the way, Musk is basically a real-life Tony Stark — which is why he served as an inspiration for Marvel's 2008 "Iron Man" film. But it hasn't always been smooth sailing for Musk. Here's how he went from getting bullied in school to becoming a small-time entrepreneur and eventually the CEO of two major companies that seem like they're straight out of science fiction — and how he almost went broke along the way. This is an update to an article originally published in August 2016. Katie Canales contributed to an earlier version of this story. SEE ALSO: What you need to know about Grimes, the Canadian musician who just had a baby with tech billionaire Elon Musk Elon Musk was born on June 28, 1971, in Pretoria, South Africa.
Musk's mother, Maye, is a professional dietitian and model. She has appeared on boxes of Special K cereal and the cover of Time magazine. In 2017, at the age of 69, she landed a contract with CoverGirl.
Source: The New York Times After their parents divorced in 1979, the 9-year-old Musk and his younger brother, Kimbal, decided to live with their father. It wasn't until after the move was made that his notoriously troubled relationship with his dad began to emerge. "It was not a good idea," Musk said in a Rolling Stone interview about moving in with his father.
Source: Rolling Stone In 1983, at the age of 12, Musk sold a simple game called "Blastar" to a computer magazine for $500. Musk described it as "a trivial game ... but better than Flappy Bird."
Source: WaitButWhy Still, Musk's school days weren't easy — he was once hospitalized after being beaten by bullies. The bullies threw Musk down a set of stairs and beat him until he blacked out.
Source: "Elon Musk: Tesla, SpaceX, and the Quest for a Fantastic Future" After graduating from high school, Musk moved to Canada with his mother Maye, his sister Tosca, and his brother Kimbal, and spent two years studying at Queen's University in Kingston, Ontario.
Source: Queen's University But he finished his studies at the University of Pennsylvania, earning degrees in physics and economics.
While studying at the University of Pennsylvania, Musk and a classmate rented out a 10-bedroom frat house and turned it into a nightclub. The move, which Musk undertook with Adeo Ressi, was one of his first entrepreneurial experiments.
Source: Vogue After graduation, Musk traveled to Stanford University to study for his PhD — but he barely started the program before leaving it. He deferred his admission after only two days in California, deciding to test his luck in the dot-com boom that was just getting underway. He never returned to finish his studies at Stanford.
Source: Forbes With his brother, Kimbal, Musk launched Zip2. A cluster of Silicon Valley investors helped to fund the company, which provided city travel guides to newspapers like The New York Times and Chicago Tribune.
Source: Rolling Stone While Zip2 got off the ground, Musk literally lived in the office and showered at a local YMCA. The hard work paid off when Compaq bought Zip2 in a deal worth $341 million in cash and stock, earning Musk $22 million.
Source: Stanford Musk next started X.com, an online banking company. He launched the company in 1999 using $10 million of the money he got from the Zip2 sale. About a year later, X.com merged with Confinity, a financial startup cofounded by Peter Thiel, to form PayPal.
Source: Investopedia Musk was named the CEO of the newly minted PayPal — but it wouldn't last long. In October 2000, he started a huge fight among the PayPal cofounders by pushing for them to move its servers from the free Unix operating system to Microsoft Windows. PayPal cofounder and then CTO Max Levchin pushed back, hard.
Source: Fortune While Musk was en route to Australia for a much-needed vacation, PayPal's board fired him and made Thiel the new CEO. "That's the problem with vacations," Musk told Fortune years later about his ill-fated trip in late 2000.
Source: Fortune But things worked out for Musk — he made another windfall when eBay bought PayPal in late 2002. As PayPal's single biggest shareholder, he netted $165 million of the $1.5 billion price eBay paid.
Source: Money Even before the PayPal sale, Musk was dreaming up his next move, including a wild plan to send mice or plants to Mars. In early 2002, Musk founded the company that would be known as Space Exploration Technologies, or SpaceX, with $100 million of the money received from the PayPal sale. Musk's goal was to make spaceflight cheaper by a factor of 10.
Source: Rolling Stone Another early vehicle was named after the song "Puff the Magic Dragon." The name of the spacecraft, the Dragon, was Musk's jab at skeptics who told him SpaceX would never be able to put vehicles into space.
Source: Elon Musk/Twitter SpaceX's long-term goal is to make colonizing Mars affordable. Musk has said that SpaceX won't file for an initial public offering until what Musk calls the "Mars Colonial Transporter" is flying regularly.
Source: Forbes Musk has also been keeping plenty busy here on Earth, particularly with Tesla Motors. In 2004, Musk made the first of what would be $70 million of total investments in Tesla, an electric car company cofounded by veteran startup exec Martin Eberhard.
Source: Wired Musk took an active product role at Tesla, helping develop its first car, the Roadster. The all-electric Roadster debuted in 2006, when Musk was serving as Tesla's chairman. He's now also its CEO.
Source: Business Insider As if that wasn't enough, Musk came up with the idea for SolarCity, a solar energy company. Musk gave his cousins Peter and Lyndon Rive the working capital to get SolarCity off the ground in 2006. (In late 2016, Tesla bought SolarCity in a $2.6 billion deal.)
Source: VentureBeat, Business Insider In 2007, Musk staged a boardroom coup at Tesla, first ousting Eberhard from his CEO seat and then from the company's board and executive suites entirely.
Source: Wired In 2008, with the financial crisis seriously limiting his options, Musk personally saved Tesla from bankruptcy. Musk invested $40 million in Tesla and loaned the company $40 million more. Not coincidentally, he was named the company's CEO the same year.
Source: Business Insider But between SpaceX, Tesla, and SolarCity, Musk nearly went broke. He describes 2008 as "the worst year of my life." Tesla kept losing money, and SpaceX was having trouble launching its Falcon 1 rocket. By 2009, Musk was living off personal loans just to survive.
Source: VentureBeat Musk's personal life was in upheaval too: Musk and his wife Justine, a Canadian author, got divorced in 2008. The couple got married in 2000 — their first son, Nevada, died of SIDS at 10 weeks old (the Musks later went on to have twin and triplet boys).
Source: Marie Claire Musk started dating actress Talulah Riley later that year. They went on to get married in 2010, then divorced in 2012. In July 2013, they remarried. In December 2014, Musk filed for a divorce but withdrew the paperwork. In March 2016, Riley filed for divorce; that divorce was finalized in October.
Source: Vanity Fair Right around Christmas 2008, Musk got two pieces of good news: SpaceX had landed a $1.5 billion contract with NASA to deliver supplies into space, and Tesla finally found more outside investors.
Source: Ars Technica By June 2010, Tesla held a successful initial public offering. The company raised $226 million in the IPO, becoming the first car company to go public since Ford in 1956. To get his finances back on track, Musk sold shares worth about $15 million in the offering.
Source: Wired Musk's extraordinary career was starting to get noticed in other circles, too, most notably in Hollywood. Robert Downey Jr.'s portrayal of Tony Stark in the "Iron Man" movies is at least partially based on Musk. Musk even had a cameo in "Iron Man 2."
Source: Vox By the end of 2015, SpaceX had made 24 launches on assignments like resupplying the International Space Station, setting lots of records along the way. In 2016, the SpaceX Falcon 9 made the first successful ocean landing of a reusable orbital rocket.
Source: The Verge The Falcon Heavy, the successor to the Falcon 9 and the most powerful rocket SpaceX has built to date, completed a successful maiden launch in February 2018. The Falcon Heavy carried a unique payload: a dummy dubbed "Starman," and Musk's personal cherry red Tesla Roadster, which were launched toward Martian orbit.
Source: SpaceX, Business Insider Musk can't stop coming up with new ideas, either, like the Hyperloop. A super-high-speed train that travels in a vacuum tube, the Hyperloop could theoretically transport passengers from Los Angeles to San Francisco in 30 minutes.
Source: SpaceX, Business Insider In a similar vein, Musk started another company in 2016 — The Boring Company, which has a mission to dig a network of tunnels under and around cities for high-speed, no-traffic driving.
Source: Business Insider And in late 2015, Musk cofounded OpenAI, a nonprofit dedicated to researching artificial intelligence and ensuring it doesn't destroy humanity.
Musk has expressed concern that the race for better AI could end up sparking a third world war. More recently, Musk announced he was stepping down from the board of OpenAI in February 2018 to avoid any potential conflicts of interest with Tesla, which has made strides into artificial intelligence for its self-driving car technology. Source: Business Insider Musk founded one more company, this one in 2017: Neuralink, which is trying to build devices that can be implanted inside the human brain.
Source: The Wall Street Journal Musk started dating "Aquaman" actress Amber Heard, but the two broke up in 2017 after a year of dating. Musk later said in an interview with Rolling Stone that the breakup was very hard on him.
Source: Rolling Stone The year was a bit rocky from a political standpoint as well. Musk joined President Trump's business advisory council, a move which caused a huge public backlash. He initially defended the move, but he quit after Trump pulled the US out of the Paris Agreement on climate change. Musk said he tried to convince Trump not to withdraw.
Source: Business Insider In the spring of 2018, there was a new development in Musk's personal life — he and the musician Grimes struck up a relationship. They reportedly hit it off after they both made the same nerdy joke about artificial intelligence.
Source: Business Insider Musk ran into some trouble in 2018 when he sent a tweet declaring he was considering taking Tesla private at $420 per share and had already secured funding. Just a few days later, the SEC sent Tesla subpoenas about the company's plans to go private and Musk's comments.
By September, the SEC had formally filed a lawsuit against Musk, accusing him of making "false and misleading statements." Musk settled with the SEC, which resulted in both him and Tesla paying a $20 million fine and Musk agreeing to step down as chairman of Tesla's board. Additionally, Tesla was required to appoint a committee to oversee Musk's communications. Source: Business Insider In November 2019, Musk debuted a new Tesla vehicle: the Cybertruck, Tesla's first — and very highly anticipated — pickup truck. Since the unveiling, Musk has been spotted a few times cruising around in the truck, including on a night out to dinner at Nobu with Grimes.
Source: Business Insider, Business Insider One month later, Musk won a victory in court when a jury ruled he was not guilty of defaming the British diver Vernon Unsworth. Unsworth had filed a defamation lawsuit in 2018 after Musk called him a "pedo guy" on Twitter.
In the summer of 2018, Unsworth took part in the rescue operation of 12 boys and their soccer coach who were trapped in a cave in Thailand. Musk had offered his help with the rescue mission in the form of a "minisub," which Unsworth called a "PR stunt," leading Musk to insult him on Twitter. Source: Business Insider Grimes dropped a bombshell in January 2020 when she posted a photo of herself where she appeared pregnant. The musician later confirmed that she was expecting a baby with Musk.
Source: Business Insider Musk has been outspoken about the coronavirus crisis in the US since early March, when he first tweeted that panic over the virus was "dumb."
Since then, Musk has gone on to promote a malaria drug as a potential treatment for COVID-19 patients despite a lack of scientific proof, has caused confusion over his promise to deliver ventilators to hospitals, and has promoted misinformation, such as a tweet that said "kids are essentially immune" from the virus. Musk has also called US shelter-in-place orders "fascist" and has defied local lockdown orders, reopening the Tesla plant in Fremont, California. "If anyone is arrested, I ask that it only be me," Musk said in early May. (Local officials later allowed Tesla to reopen its operations.) Source: Business Insider Despite having a substantial real estate portfolio, Musk recently said that he "will own no house" and would sell almost all of his physical possessions. He has since listed two of his Bel Air homes and five more properties worth over $100 million.
Source: Business Insider, Business Insider On May 4, Grimes gave birth to a baby boy who the couple has said is named X Æ A-Xii Musk, or "X Ash A-12 Musk."
Source: Business Insider Now, thanks to Tesla's stock surging in 2020, Musk is the seventh-richest person in the world with a net worth of $82.2 billion. Musk's wealth has surpassed Larry Page, Larry Ellison, and Sergey Brin, according to Bloomberg's Billionaires Index.
Source: Bloomberg, Business Insider
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Elon Musk, owner of a $100 million real-estate portfolio, just tweeted that he will sell all his belongings and 'own no house.' Take a look at some of the mansions he'll have to offload to make that happen.
Elon Musk vowed to sell "almost all physical possessions" including his homes in a tweet Friday....Elon Musk vowed to sell "almost all physical possessions" including his homes in a tweet Friday. Months before promising to fully liquidate his real-estate portfolio, the Tesla CEO reportedly sold a Brentwood, California, mansion for almost $4 million in late August. Musk owns at least seven houses worth a combined $100 million, including six mansions within steps of each other in Bel Air. The billionaire tech mogul has a net worth of $39 billion, per Bloomberg's latest estimate. Visit Business Insider's homepage for more stories. Elon Musk intends to sell off his $100 million real-estate portfolio, the billionaire CEO tweeted Friday. The cofounder of electric automaker Tesla said that he plans to sell "almost all physical possessions" and "own no house." The statement was a stunning reversal of Musk's real-estate strategy to date; the billionaire spent years buying up adjacent mansions in Los Angeles' swanky Bel-Air neighborhood. He owns at least seven homes worth over $100 million, Business Insider previously reported. Keep reading to take a look inside Musk's real-estate portfolio.SEE ALSO: Grimes and Elon Musk are officially having a baby in May. Here's how the eccentric CEO makes and spends his $39.5 billion fortune. DON'T MISS: Kim Kardashian and Kanye West are collectively worth over half a billion dollars. Here's a look inside the couple's real-estate portfolio, from their sprawling Wyoming ranch to their $60 million Hidden Hills mansion. Elon Musk built a $39 billion fortune as the CEO of Tesla and SpaceX. Source: Business Insider Musk and the companies affiliated with him own at least seven residences collectively worth over $100 million, mostly in the Los Angeles area. Source: Business Insider Musk bought his first piece of Bel Air real estate in late 2012. Source: Los Angeles Times The Tesla CEO started off by renting the colonial-style house in 2010 and lived with his five sons. Source: Business Insider He later purchased the mansion for $17 million, although it's now estimated to be worth $22.3 million. Source: Wall Street Journal The house has 20,248 square feet of space divided into different wings, with a total of seven bedrooms. It also has a two-story library. Source: Variety, Wall Street Journal The kitchen features a brick ceiling. Source: Business Insider The backyard has a pool ... Source: Business Insider ... a tennis court ... Source: Business Insider ... and a view of the exclusive Bel Air Country Club. The house also has a gym and a wine cellar. Source: Business Insider Musk bought two other houses on the same street, including one for $6.75 million in October 2013. Source: Business Insider Beloved actor Gene Wilder lived in the 2,756 square foot, three-bedroom, three-bathroom ranch-style home for over 30 years until 2007. Source: Business Insider, Wall Street Journal Musk used the house as a private school for his children. And in a 2015 interview with Vogue, the billionaire CEO described it as "like a little schoolhouse on the prairie, except in Bel Air on a golf course." Source: Variety, Vogue Musk later purchased two more on Bel Air mansions on an adjacent street — another ranch house for $20 million in July 2015 and an unfinished mansion for $24.25 million in 2016. Neighbors told the Wall Street Journal in December that the 9,309-square-foot mansion has been under construction since 2011. Source: Variety, Wall Street Journal Two years later, Musk reportedly bought another mansion next door to those. The property — a colonial-style, two-story home built with a white brick facade — is estimated to be worth $4.2 million. Source: Wall Street Journal Musk had bought yet another Los Angeles mansion for $4.3 million in July 2015, but apparently didn't maintain it well. In December, the Wall Street Journal described this property as "unkempt, with a scruffy, bush-filled front yard, a stained glass window, a clay rabbit and dead plants in pots by the front door." Neighbors also told the Journal in December that it didn't appear anyone was living in this house full-time. Source: Wall Street Journal Though Musk has previously said that he sleeps on a couch or on the floor of a conference room in Tesla's Fremont, California headquarters during busy production periods, he also owns another estate nearby. Source: Business Insider Located in the ritzy Bay Area suburb of Hillsborough, the 100-year-old, 16,000-square-foot Mediterranean-style mansion boasts 10 bedrooms, bay views, hiking trails, and a ballroom. Musk bought it for $23.4 million in June 2017. Source: Wall Street Journal The tech mogul also previously owned this "boomerang-shaped house" in Brentwood, California, about 15 miles northwest of downtown Los Angeles with his ex-wife Talulah Riley. The former couple paid just under $3.7 million for it in 2014, per the Variety-owned real-estate site Dirt. Source: Business Insider, Dirt Read more: Elon Musk has sold his mansion overlooking Los Angeles for nearly $4 million. Here's a look inside. That house is surrounded by privacy hedges for security ... Source: Business Insider ... but has floor-to-ceiling windows throughout to let the light in. Source: Business Insider He sold the house for $4 million in late August 2019, Business Insider previously reported. Source: Business Insider
Tesla's Cybertruck fiasco cost Elon Musk $768 million in a single day — here's how the notorious workaholic and father of 5 makes and spends his $23.6 billion fortune
Tesla and SpaceX CEO Elon Musk currently has a net worth of about $23.6 billion — down...Tesla and SpaceX CEO Elon Musk currently has a net worth of about $23.6 billion — down $768 million from what it was before a failed demonstration of Tesla's new Cybertruck sent shares of the automaker down 6% Friday, Forbes reported. Musk said in January he will not receive any form of payment or compensation until Tesla reaches $100 billion in market cap. A notorious workaholic, Musk doesn't spend his money on lavish vacations or expensive hobbies; he even planned to spend his 48th birthday improving Tesla's logistics. Visit Business Insider's homepage for more stories. Elon Musk may be one of the richest people in America, but he's slightly less rich than he was before he unveiled Tesla's new Cybertruck on Thursday evening. In a demonstration turned debacle, Musk had Tesla's lead designer, Franz von Holzhausen, test the strength of the vehicle's "ultra-hard" stainless steel body and "armored glass" with first a sledgehammer and then a metal ball. When the truck's window shattered on impact, Musk said "oh my f---ing god." Investors had a similar reaction, and shares of the automaker sunk 6%, sending Musk's net worth down $768 million in a single day, Forbes' Hayley Cuccinello reported. Despite a massive net worth currently hovering around $23.6 billion, Musk has never taken a paycheck from Tesla, refusing his $56,000 minimum salary every year. In January, Tesla announced it would pay Musk nothing for the next 10 years — no salary, bonuses, or stock — 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. A notorious workaholic, Musk doesn't spend his money on lavish vacations or expensive hobbies. Instead, the entrepreneur spends most of his free time at the office or in factories, retreating to one of several Los Angeles mansions he owns at the end of the day. Keep reading to find out what we know about how Musk, a father of five, amassed his fortune and how he spends it.SEE ALSO: Bernard Arnault is the world's third-richest person and CEO of LVMH, which just finalized a deal to buy Tiffany. Here's how the French billionaire makes and spends his $100 billion fortune. DON'T MISS: Billionaires' success boils down to a set of 3 personality traits that aren't directly tied to intelligence, a new report says As a child growing up in South Africa, Musk taught himself to code. By the time he was 12, he sold the source code for his first video game for $500. Source: MONEY Just before his 18th birthday, Musk moved to Canada and worked a series of hard labor jobs, including shoveling grain, cutting logs, and eventually cleaning out the boiler room in a lumber mill for $18 an hour — an impressive wage in 1989. Sources: MONEY, Esquire - Elon Musk: Tesla, SpaceX, and the Quest for a Fantastic Future Musk got a pay cut to $14 an hour when he started a summer internship alongside his brother, Kimbal, at the Bank of Nova Scotia after cold-calling — and impressing — a top executive there. Sources: MONEY, Esquire - Elon Musk: Tesla, SpaceX, and the Quest for a Fantastic Future After he arrived for his freshman year at Queens University in 1990, Musk quickly picked up a side hustle selling computer parts and full PCs to other students. "I could build something to suit their needs like a tricked-out gaming machine or a simple word processor that cost less than what they could get in a store," Musk said. Sources: MONEY, Esquire - Elon Musk: Tesla, SpaceX, and the Quest for a Fantastic Future Within two years, Musk transferred to the University of Pennsylvania on a partial scholarship. Sources: MONEY, Esquire - Elon Musk: Tesla, SpaceX, and the Quest for a Fantastic Future To cover the rest of his tuition, Musk and a buddy would turn their house into a speakeasy on the weekends, charging $5 at the door. "I was paying my own way through college and could make an entire month's rent in one night," Musk said. Sources: MONEY, Esquire - Elon Musk: Tesla, SpaceX, and the Quest for a Fantastic Future Musk graduated with a bachelor's degree in physics and an economics degree from the Wharton School and moved to Stanford to pursue his PhD. Source: MONEY He left the program within days to found an internet startup with his brother. They started Zip2, a city guide software for newspapers, with $28,000 in seed money from their father. Source: MONEY Four years later, in 1999, they sold Zip2 for $307 million, earning Musk $22 million. He invested more than half of his earnings to cofound X.com, an online banking service. Source: MONEY The company quickly merged with its rival and became PayPal, with Musk as the majority shareholder. In 2002, eBay bought PayPal and Musk walked away with $180 million. Source: MONEY Musk turned his attention to his new space exploration company, SpaceX, after leaving PayPal. A few years later he cofounded electric-car maker, Tesla, and then SolarCity, a solar power systems provider. The success of these companies eventually launched him into the billion-dollar club — but not before he went broke. Source: VentureBeat In late 2008, Musk divorced his first wife and it took a toll on his finances. A year later, Musk said he "ran out of cash" and had been living off loans from friends while trying to keep his companies afloat. Sources: VentureBeat, Forbes, TechCrunch But when Tesla debuted on the stock market in 2010, Musk's fortune sky rocketed. By 2012, he appeared on Forbes' richest list for the first time with a net worth of $2 billion. Source: Forbes Over seven years later, Musk has amassed a $23.6 billion fortune — and he's not shy when it comes to spending it. Source: Bloomberg At one point, the CEO owned more than $70 million worth of residential property in the Bel-Air neighborhood of Los Angeles. Source: The Real Deal, Variety, Business Insider Musk initiated his Bel-Air buying spree in late 2012, when the then-bachelor purchased a 1.67-acre estate for $17 million. The 20,248-square-foot mansion has a two-story library, a home theater, a gym, and 1,000-bottle wine cellar. Source: Variety As the leader of one of the preeminent auto-makers, it's no surprise Musk has an affinity for cars. Back in 2013, he paid $920,000 at an auction for the Lotus Esprit submarine car used in a James Bond movie. Source: MONEY, CNBC In addition to driving Teslas, Musk owns two gas-powered cars: a Ford Model T and a Jaguar E-Type Series 1 Roadster. Source: MONEY, CNBC Despite having funds to spare, Musk isn't a fan of lavish vacations — or any vacations for that matter. In 2015, he said he'd only taken two weeks off since founding SpaceX about 12 years earlier. Sources: Inc., Quartz Musk has five children. In a 2014 tweet, Musk said he takes the kids on an annual camping trip. "I'm a pretty good dad," he said. "I have the kids for slightly more than half the week and spend a fair bit of time with them. I also take them with me when I go out of town." Sources: Twitter, Elon Musk: Tesla, SpaceX, and the Quest for a Fantastic Future But by August 2018, Musk told The New York Times that he had taken to working 120 hours a week. "There were times when I didn't leave the factory for three or four days — days when I didn't go outside," he told The Times. "This has really come at the expense of seeing my kids. And seeing friends." Source: The New York Times Musk said on an earnings call in 2017 that he doesn't have a desk at the Tesla factory: "I always move my desk to wherever — I don't really have a desk actually — I move myself to wherever the biggest problem is in Tesla. I really believe that one should lead from the front lines, and that's why I'm here." Sources: Business Insider, Fortune Musk admitted to spending "many late nights" at Tesla's Nevada Gigafactory re-writing software during a production sprint for the Model 3. Source: Fortune For a story published in August 2018, Business Insider reporters spoke with 42 Tesla employees, who said Musk is a visionary, but also unpredictably demanding. Source: Business Insider Musk said in June 2019 that he even planned to spend his 48th birthday on June 28 at work, improving the company's "global logistics." Source: Business Insider Musk told CBS' "60 Minutes" that he is, in fact, "somewhat impulsive" and doesn't "really want to try to adhere to some CEO template." Source: Business Insider Not only does Musk spend a ton of time at Tesla, he also spends a lot of his money on the company. In the first six months of 2018, he bought more than $35 million worth of shares in Tesla. Source: CNN Musk also invests a lot of time, energy, and resources into SpaceX. Source: Business Insider SpaceX has raised more than $2.2 billion to develop, build, and launch Starlink, an effort to cover Earth in ultra-fast broadband internet and build the prototype of its Big Falcon Rocket (BFR), a gargantuan reusable space vehicle designed to bring people to Mars, reported Business Insider's Dave Mosher. The company was valued at $33.3 billion in June 2019. Source: Business Insider, CNBC Musk also helms The Boring Company, which he founded in 2016 to develop and construct an underground tunnel in Los Angeles in an effort to mitigate traffic. In December 2018, Musk debuted the first prototype. Source: Business Insider According to The New York Times, The Boring Company raised over $112 million in 2018 — and more than 90% of it came from Musk. Source: The New York Times In 2012, Musk signed The Giving Pledge, vowing to donate the majority of his wealth during his lifetime. Though he's already in the business of improving our environment and the future during his day job, Musk has made sizable donations to causes he cares about, including a $10 million gift to the Future of Life Institute to regulate artificial intelligence. Sources: Twitter, Business Insider Musk found himself in legal trouble with the SEC in 2018 after he tweeted that he had obtained the funding to take Tesla private, which moved the company's stock price. Musk reached a settlement with the SEC in April 2019. Source: Business Insider At the end of the day, the multibillionaire says he enjoys inexpensive hobbies like listening to music, playing video games, and reading books. "Hang out with kids, see friends, normal stuff," he said. "Sometimes go crazy on Twitter. But usually it's work more." Source: Quartz Since Musk works so hard, it's only natural that he'd get upset when things go awry. When a metal ball shattered the "armored glass" of Tesla's Cybertruck during a demonstration on Thursday, Musk said "oh my f---ing god." Source: Business Insider