When one thinks of wealth nowadays, they tend to think of Elon Musk. For those who are unaware, Musk is the famous founder of Tesla, an electric car company, and SolarCity, a solar energy company. Musk recently acquired Twitter in October 2022 and has been working to improve the platform since then. He has made a number of changes, including cracking down on spambots and making it easier for users to verify their identities. Musk has also said that he wants to make Twitter more open and free speech-friendly.
Because of all of these companies, Musk has accumulated a lot of wealth. Elon Musk does have an enormous net worth, and he isn't afraid to spend his money. Not a lot of people tend to think of how money affects his 10 children. Will they inherit Musk's billions? How much money does the tech billionaire spend on them? Here's everything to know.
What Does Elon Musk Spend His Huge Net Worth On?
Elon Musk's net worth is estimated to be around $250 billion as of July 5, 2023, making him the wealthiest person in the world. Of course, things always change, with net worths fluctuating all the time. His wealth is primarily derived from his ownership stakes in Tesla and SpaceX. He owns about 23% of Tesla between stock and options, and he is the largest shareholder in SpaceX.
Musk's spending habits are relatively frugal. He lives in a modest house in Bel Air, California, and he does not own a private jet or yacht. He does, however, spend a lot of money on his companies and on philanthropic causes.
Musk is constantly investing in his companies, both in terms of research and development and in expanding their operations. He has also said that he plans to use his wealth to help fund the development of new technologies, such as artificial intelligence and space exploration.
Musk has donated millions of dollars to a variety of causes, including the Musk Foundation, which supports research into renewable energy and space exploration. He has also donated to the XPrize Foundation, which offers prizes for technological achievements.
Musk owns a number of properties, including a house in Bel Air, California, and a ranch in Texas. He also owns a number of apartments in New York City. Musk is also a car enthusiast, and he owns a number of different cars, including a Tesla Model S, a Porsche 911, and a McLaren F1.
Musk also spends money on other things, such as travel, food, and clothing. However, he is generally considered to be a frugal spender.
Who Are Elon Musk's 10 Children?
According to Page Six, Musk's first child, Nevada Alexander Musk, was born in 2002 and passed away due to Sudden Infant Death Syndrome (SIDS) at the age of 10 weeks.
His second set of children, Griffin and Xavier Musk, were born in 2004 via IVF with his first wife, Justine Wilson. In June 2022, Xavier filed a petition to change their name to Vivian Jenna Wilson and to sever their relationship with their father.
His third set of children, Kai, Saxon, and Damian Musk, were born in 2006 via IVF with Justine Wilson. His fourth child, X AE A-XII Musk, was born in 2020 with his second wife, Grimes. The seemingly unpronouncable name X AE A-XII is pronounced "X Ash A Twelve" and is said to be inspired by artificial intelligence and science fiction.
His fifth child, Exa Dark Sideræl Musk, was born in December 2021 with Grimes. The name Exa is a reference to the exaFLOPS unit of computing, Dark is a reference to the unknown, and Sideræl is a poetic form of the word "sidereal," which means "of the stars."
In November 2021, it was revealed that Musk had twins with Shivon Zilis, a top executive at Neuralink. The twins were born just weeks before Musk and Grimes had their second child.
Inside Elon Musk's Kids' Lavish Lifestyle
Musk has not publicly disclosed how he spends his money on his children. However, there are some things that can be inferred from his spending habits and public statements. According to Forbes, Musk's children all attend private schools, which can be very expensive. For example, the tuition for a year at the Ad Astra School, which Musk's children attend, is $30,000 per student.
Musk has been known to give his children expensive gifts, such as Tesla cars and SpaceX rockets. According to The New York Times, he gave his then-10-year-old son a mini-submarine for his birthday. Musk has said that he wants to invest in his children's education and future. He has also said that he wants to teach them about the importance of hard work and giving back to society.
Musk's children travel extensively, both for business and for pleasure. They have been seen on vacation in places like Hawaii, the Maldives, and the French Riviera.
It is not clear whether Musk's children will inherit his large net worth. Musk has not made any public statements about this, and he has not signed the Giving Pledge, which is a commitment to give away the majority of one's wealth to charity. However, it is likely that Musk will provide for his children financially, even if they do not inherit his entire net worth.
Overall, it seems that Musk spends his money on his children in a way that is both generous and practical. He wants to give them the best possible education and opportunities, and he wants to teach them the importance of hard work and giving back to society.
Recently, the news surrounding Elon Musk has been about his beef with Mark Zuckerberg. Musk and Zuckerberg have had a public feud for several years, dating back to at least 2016 when a SpaceX rocket explosion destroyed a Facebook satellite.
Musk has also been critical of Facebook's privacy practices, and the two CEOs have clashed over the future of artificial intelligence. In recent months, the feud has heated up again as Musk has acquired Twitter.
Zuckerberg has reportedly been planning to launch a Twitter competitor, and Musk has mocked Zuckerberg's martial arts skills. The two CEOs have even exchanged barbs on social media, with Musk tweeting that he would be "up for a cage fight" with Zuckerberg.
It's unclear what will happen, but regardless, Musk's children will come out of this situation happy and welathy.
