Elon Musk Officially Became the Richest Person in the World in 2021

He might hold the title of the richest man in the world, but what people really want to know is if Elon Musk was born rich. There is no denying his untouchable wealth after years in the tech and aerospace businesses. And after becoming part of Donald Trump's team in the White House, Elon's star only continued to rise.

But when it comes to his past and how he grew up in South Africa, how does Elon's childhood and family's wealth stack up against his own? He came to the United States for college and, after that, he never really left. After starting companies and raking in millions, and later billions, Elon's wealth grew by the year.

Elon's story as a multi-billionaire is not a rags to riches tale. He didn't grow up in poverty, and there was no wealthy benefactor that helped him become what he is today. But he did live comfortably with his parents and siblings. Elon grew up in Pretoria, the capital of South Africa. He later moved to Canada, where he acquired citizenship.

Despite eventually building a career as a giant in the tech field, Elon worked random jobs in Saskatchewan. He also attended Queen's University in Ontario while he lived in Canada. In 1995, he moved to the United States to attend Stanford University and, from there, his education flourished and his career eventually began.

Elon became a millionaire when he was 28 years old. He sold his company Zip2 to Compaq and received $22 million for his ownership in the company. But, as many know now, Elon's career didn't stop there or lay stagnant after his company was acquired. Instead, he continued to work toward something bigger.

In 2012, Forbes listed Elon as a billionaire for the first time with a net worth, at that time, of $2 billion. Less than 10 years later, in 2021, the same publication announced that Elon was the richest person in the world. As of 2025, Elon's net worth sits at around $400 billion. He is expected to be the first trillionaire by 2027.

Elon's father, Errol Musk, is an engineer. He is also reported to have been in the emerald business at one point. However, Elon and his father appear to be estranged. According to Elon's biography Elon Musk: Tesla, SpaceX, and the Quest for a Fantastic Future by Ashlee Vance, Elon reportedly said of his father, "He's good at making life miserable, that's for sure. He can take any situation no matter how good it is and make it bad."

Elon's mother, Maye Musk, is a model and dietitian. Maye and Errol got divorced in 1980. Elon and Maye have a close relationship in contrast to his nonexistent one with Errol, and they often praise each other publicly and on social media.