Elon Musk’s wealth primarily stems from his ownership stakes in Tesla and SpaceX, with PayPal and Zip2 playing crucial early roles in funding those ventures. Over time, his net worth has grown as Tesla’s stock price surged and SpaceX expanded, with additional value coming from new ventures and compensation plans tied to performance. Key sources of Musk’s wealth

• Tesla: The largest and most influential component. Stock ownership and options have driven the bulk of his net worth, especially as Tesla’s market value increased through the 2020s.

• SpaceX: A privately held company valued highly by investors; its ongoing fundraising and valuation bumps have significantly contributed to his wealth, independent of public markets.

• PayPal and earlier ventures: The sale of Zip2 and the PayPal sale to eBay provided Musk with initial liquidity to fund later ventures. Zip2 sold for about $307 million; PayPal’s sale netted Musk roughly $175 million from his stake.

• Other projects and compensation: Musk has received compensation in the form of option grants and pay packages tied to Tesla performance, and investments in newer ventures (e.g., AI-related initiatives) have added to his overall net worth. Reports discuss the potential of large future pay packages and new ventures impacting his standing.

Notes on trajectory

• Early liquidity events from Zip2 (1999) and PayPal (2002) provided the capital for later bets in Tesla and SpaceX. These events were pivotal in the accumulation of wealth that would grow as the public markets and private valuations expanded.

• In the 2020s, Tesla’s stock appreciation and SpaceX’s rising valuation pushed Musk toward the top of global lists of wealth, with some outlets noting him reaching record highs in the mid-to-late 2020s.

Direct answer
Elon Musk became wealthy starting with early tech company exits—Zip2 and PayPal—which provided him with substantial liquidity. He then invested in and built Tesla and SpaceX, whose growing valuations and stock-based compensation (for Tesla) have driven the majority of his wealth, supplemented by ongoing private company valuations and new ventures. Enterprises like PayPal and Zip2 were the foundational liquidity events, while Tesla and SpaceX became the primary sources of ongoing wealth through stock, equity stakes, and private valuations.