How Long Would It Take a Regular American to Earn Elon Musk’s Wealth?

Withhis recent purchase of Twitter, Elon Musk, the innovator and astute businessman, has made waves in the business world.

Technological inventors are one of the most highly valued — and lucrative — occupations in today’s world. That is especially true in Musk’s case, as the guy behind the modernization of the transportation industry through Tesla Motors and Space X is now the world’s richest man.

The Road to Elon Musk Becoming the World’s Richest Man

 

When Elon Musk sold PayPal, an online payment software, for $1.5 billion in 2002, he began amassing fortune. According to Forbes, the 50-year-old is best known for co-founding Tesla Motors, where he owns 21 percent of the company and has $183 billion in stock. Tesla’s stock rose so quickly in November 2021 that Musk temporarily became the first person to be valued more than $300 billion.

 

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In addition to revolutionizing transportation on Earth, he has made significant advances in space exploration with his $100 billion rocket company, SpaceX. Musk continues to make financial moves.

Elon Musk’s Net Worth According to Forbes, Musk’s net worth is $246.5 billion as of April 27. After selling PayPal in 2002, his net worth skyrocketed.

To be as wealthy as Elon Musk, how long would it take?

GOBankingRates calculated that it would take 10,910,641 years and 93 days to get as wealthy as Musk using the median U.S. income and average per-capita personal consumption spending, and compared it to Musk’s net worth. It would still take 9,972,673 years and 69 days if the savings were invested.

 

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Methodology: GOBankingRates used median household income data from the Census Bureau’s 2020 American Community Survey and Bureau of Economic Analysis’ 2021 Q4 per capita consumption statistics to calculate how long it would take the ordinary American to earn Kim Kardashian’s and Elon Musk’s net worth.

GOBankingRates calculated the difference between median household income and national per-capita consumption, then divided it by Elon Musk’s ($246.5 billion) and Kim Kardashian’s ($1.8 billion) net worths to determine how many years and days it would take for the average American to reach their respective net worths.

All data was obtained on April 27, 2022, and is current. Average household earnings

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