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This article directly stems from the research process for our US single family office list, which is also included in our global family office list. Our list includes several major US single family offices.
You might also like the list of the 2,500 most important venture capital investors, curated by our partner portal ThousandInvestors.
Where does the fortune of Elon Musk come from?
Elon Musk is an engineer and technology entrepreneur. A dual citizen of South Africa, Canada and the United States, he is the founder, CEO and chief engineer/designer of SpaceX, CEO and product architect of Tesla and founder of The Boring Company. Through his involvement in many successful companies, Elon Musk has amassed an impressive fortune of $260 billion as of October 2024. But this fortune consists “only” of shares in Tesla, X and SpaceX.
How did Musk’s companies develop?
Musk’s entrepreneurial journey spans decades. He made his first fortune when he sold Zip2, a software company, to Compaq in 1999. The reported price was more than $300 million. Three years later, Paypal, which he also co-founded, was acquired by eBay for $1.4 billion. Backed by these exits, he founded SpaceX in 2002 and joined Tesla in 2004 as part of a Series A funding round. The famous company was one of the first to bring electric cars to the mass market, creating high demand around the world. Today, Tesla employs nearly 50,000 people and has revenues of more than $20 billion, but is struggling to fulfil orders and keep up with demand.
Is there an Elon Musk family office?
Although Elon Musk does not have the liquidity to invest much (it has been revealed that Musk owes more than $500 million in debt), as his wealth consists mainly of Tesla and SpaceX shares, he does run a family office. The Elon Musk family office, Excession LLC, is run by Jared Birchall, a former senior vice president at Morgan Stanley.
How does the Musk family office invest?
The activities are highly secretive. But it’s known that Musk owns a lot of property around Los Angeles. Musk said in an interview that he is not an investor and does not invest in anything, and that the only public securities he owns are those of Tesla. He only invests in companies he owns, such as Tesla, X, SpaceX, The Boring Company and Solar City.
This article is part of our detailed report “The single family offices of the richest US families“
Picture source: Vlad Tchompalov
Featured: Our unique US Single Family Office Database
Last Updated on November 4, 2024
