In a post on the social media platform he owns, recently said, “Whoever said ‘money can’t buy happiness’ really knew what they were talking about.”
Already the wealthiest person on the planet, Musk can now add another distinction to his belt—the world’s first trillionaire.
Shares of SpaceX rose 19% Friday to $160.95 each in their first day of trading, vaulting the value of the rocket and AI company Musk founded to $2.2 trillion. His fortune now stands at the once-unimaginable figure of $1.1 trillion, according to the Bloomberg Billionaires Index. That’s more than three times that of the world’s second-richest person, Google co-founder Larry Page.
Less than a decade ago, crossing the $100 billion wealth mark was a rare achievement on Bloomberg’s Billionaires Index. Elon Musk surpassed that milestone in 2020. And since then, his fortune surged as Tesla became one of the best-performing stocks in history, while SpaceX’s valuation soared as investors rushed to invest in the private space company. Today, these two companies account for the bulk of Musk’s massive wealth.
Here are five simple money lessons you and I can learn from world’s first trillionaire, Elon Musk.
Commit to your long term vision
By 2008, Elon Musk was facing one of the toughest periods of his career. Space X and Tesla were both running out of money. Yet Musk remained committed to his long-term vision, refusing to let short-term challenges derail his ambitions.
Similarly, data shows that investing consistently, for example, through SIPs, often creates more wealth than trying to time the market or chase quick gains.
Lesson: Focus on a long-term investing approach rather than searching for the right multibagger.
Taking risks is essential to success
Musk’s business ventures — including and — seems like ideas out of science fiction movies and way ahead of time. And yet, time after time, they have been successful
Taking risks scares most of us. But Musk said in an interview that he simply uses the scientific method to assess risk.
Lesson: Avoiding all risks may feel safe, but it can also limit opportunities. Calculated risks—supported by research, conviction and preparation—are often necessary to achieve exceptional results.
Investing in stocks is rarely optional
Elon Musk is the world’s richest person—“excluding sovereigns,” as he jokingly likes to say. Most of his wealth comes from his stake in Tesla. While few people think of Musk as a stock investor, it is stock ownership that ultimately made him extraordinarily wealthy.
Lesson: You can fear investing in the stock market — and many people do. But it’s very difficult to become rich without some exposure to stocks. You can invest through mutual funds, ETFs also if you are reluctant to put your money on stocks ditectly.
Power of reinvesting
In 2002, eBay bought PayPal for $1.5 billion. As PayPal’s co-founder, Musk collected a cool $175 million from the sale.
While many people would have chosen to retire after amassing such a fortune, Musk reinvested much of his wealth into ambitious ventures, helping build the companies that have made him a legend
Lesson: Wealth often grows not from what you earn, but from what you continue to invest. Whether it’s dividends, business earnings or salary savings, putting money back into productive assets can significantly accelerate wealth creation.
Investing in what you understand
Musk has repeatedly demonstrated a willingness to back his beliefs with his own capital despite what critics said. During difficult periods, he invested much of his personal fortune into Tesla and SpaceX when external funding was hard to secure.
Lesson: Before investing your money, understand how the business makes money, what drives its growth and what risks it faces. Investing in areas you understand can help you make better decisions and stay confident during market volatility.