Elon Musk Doesn't Buy Luxury Vacation Homes, Here's How He Spends His Money

Surpassing Jeff Bezos, Elon Musk has officially become the richest man in the world with a net worth of $190 billion. However, while a lot of people are showing their astonishment and congratulating him, how does Musk react to this news?

It seems that in contrast to the celebration and congratulations people are having for him, Elon Musk cares more about his work. Instead of showing some happiness about becoming the richest man on Earth, he simply wants to go back to work.

Besides, the more important thing to consider here, according to Musk, is what to do with all the money he has. Now we will look into that and see what plans he has for his projects in the coming time.

As of now, most of Elon Musk’s wealth is in Tesla stock. In June 2018, he outlined his plan to sell off the stock.

“Already sold >$100M TSLA for charity. Will do about that every few years. Major disbursements in about 20 years when Tesla is steady state.”

Elon Musk has also outlined his plans for the far future as well. In October 2018, he tweeted: “you should ask why I would want money.”

Unlike other billionaires whose money is partly spent on recreation, house, expensive trips, and other luxury items, Elon Musk does not own yachts or vacation homes or anything of the sort. Instead, Musk said half of his money would be spent on helping with problems on Earth while the other would be for establishing a self-sustaining city on Mars with the aim of making sure life could continue in case Earth is destroyed.

The comments highlight one of the most expensive projects Musk is working on: a self-sustaining Martian city of 1 million people by 2050.

In October last year, he broke down the project's cost. It costs $100,000 to send 1 ton to Mars while a self-sustaining city requires 1 million tons, meaning his dream Martian city will cost from $100 billion to $10 trillion. Let’s say Elon Musk plans to spend 50% of his newly found wealth on this project, it seems that he can afford the low-end estimate only.

But we all know he’s an ambitious man with a lot of creation and initiatives, it’s exciting to see what he can achieve in the future.

>>> Elon Musk Beats Jeff Bezos To Be The World's Richest Person