Elon Musk, entrepreneur and CEO of companies like Tesla and SpaceX , is not only known for his innovations but also for his staggering wealth. In 2022, Musk made headlines when he invested a whopping $44 billion in X, formally known as Twitter. This move sparked discussions about the investment’s value and impact on the platform. Despite expressing buyer’s remorse and even joking about it on social media , Musk’s financial decisions continue to fascinate the public’s attention. How Much Money Does Elon Musk Make Per Second? Elon Musk earns approximately $656 per second, according to CoinCodex . This estimation is from Musk’s reported estimated net worth of $205.2 billion as of January 2024 and the span of over a decade during which he accumulated his wealth. Musk’s earnings per second are over $43,000 per minute, nearly equivalent to the annual full-time wage in the US of $53,490. Musk earns a year’s salary in just one minute, and it takes him only a week to reach a nine-figure...
Feb 27, 2024
It is going to be a long fought battle for a Black former Tesla employee. AfroTech previously reported Owen Diaz filed a racial harassment and discrimination lawsuit against the automotive company. In 2021, he shared with the court that he had been told by coworkers to “go back to Africa,” per Insider. Diaz also claimed racial graffiti was scrawled in the bathrooms of the Tesla factory.
May 10, 2023
On Dec. 18, Elon Musk asked users if he should step down as the head of Twitter via a poll, and Snoop Dogg asked if he should step up.
Dec 19, 2022
Master P never shies away from speaking his mind, especially when it pertains to the advancement of the Black community.
Oct 27, 2022
Soon there may come a day when the world won’t even need keys to unlock the whip. As a matter of fact, for one man, that day has already arrived. According to CNN, a Detroit, MI, man can now unlock his Tesla without a key due to a chip that has been implanted into his arm. Yes, you read that correctly. Brandon Dalaly, took his love for tech to the next level by agreeing to have the piece of technology installed into his body. View this post on Instagram A post shared by Brandon Dalaly (@bdalaly)
Aug 26, 2022
The updates in this Tesla case just keep getting worse and worse. Lawyers representing the former elevator operator who filed a lawsuit against the smart car company have officially rejected a $15 million award. According to Complex, Owen Diaz is now rejecting a new trial after his original verdict amount of nearly $137 million was reduced to $15 million. As previously reported by AfroTech, Diaz only had a few days to decide on whether he would accept the offer on the table. Now, it looks like he will continue to fight for what he says he’s worth. “In rejecting the court’s excessive reduction by asking for a new trial, Mr. Diaz is again asking a jury of his peers to evaluate what Tesla did to him and to provide just compensation for the torrent of racist slurs that was directed at him,” said his lawyers in a statement.
Jun 23, 2022
The world’s richest man is back at it again with another lawsuit. Elon Musk has been sued for $258 billion for his alleged involvement in defrauding investors during a Dogecoin pyramid scheme. Fortune reports that the tech mogul has been sued by American citizen Keith Johnson “who was defrauded out of money by defendants’ Dogecoin Crypto Pyramid Scheme.” The defendants include Musk and his Tesla company as well as his SpaceX corporation. Johnson will represent not only himself but a group of investors who suffered similar losses due to Dogecoin trading that stems back to 2019.
Jun 17, 2022
A former elevator worker at Tesla has 14 days to determine if he will collect $15 million for the damages caused by racial abuse while working at the company’s Fremont, California factory. According to TechCrunch, Owen Diaz was originally set to receive $137 million after the company turned a blind eye to the racial harassment and discrimination that he endured at the electric vehicle (EV) plant. After Tesla challenged the verdict brought forth on behalf of the former employee, whose race is Black, the payout was diminished to $15 million. Now, the original $6.9 million that Diaz was set to receive for compensatory damages has been reduced to $1.5 million. Punitive damages went from $130 million to $13.5 million.
Jun 10, 2022
The world’s richest man is back at it with questionable business practices. This time, Elon Musk is raising eyebrows after sending out not one, but two company-wide emails to Tesla employees threatening that they return to work … or else, Bloomberg reports. “Everyone at Tesla is required to spend a minimum of 40 hours in the office per week,” said Musk in one of the emails. “To be super clear.” Elon to Tesla team: no more remote work pic.twitter.com/aSmZAAOm7G — Whole Mars Catalog (@WholeMarsBlog) June 1, 2022 He continued: “Moreover, the office must be where your actual colleagues are located, not some remote pseudo office. If you don’t show up, we will assume you have resigned.” What’s more, according to a tweet of one of the leaked emails, he actually titled the follow-up email: “To be super clear.” He sent a follow-up to everyone confirming the company-wide policy. pic.twitter.com/aYLnV5WhTe — Sam Nissim (@SamNissim) June 1, 2022 And, it looks like his message of strongly...
Jun 2, 2022
Elon Musk and the acquisition of social media giant, Twitter, have caught the attention of many high-profile individuals. Whether it’s celebrities denouncing their association with the app because they disagree with him or A-listers trying to gain a piece of the pie, there is no shortage of interest around the estimated multi-billion-dollar deal. AfroTech previously reported that Meek Mill tweeted his desire to purchase shares of Twitter after the billionaire bought it. Now, LA rap legend Snoop Dogg has entered the chat, and he doesn’t just want to buy a part of it — he wants the entire thing.
May 16, 2022
From billionaire to billionaire, Patrice Motsepe has formed an opinion on Elon Musk. As South Africa’s first Black billionaire, Motsepe said that entrepreneurs can learn a thing or two from the Tesla CEO, which could most likely increase their net worth and the success of their business. According to Motsepe, Musk’s strong belief in himself is a good thing. “I’m not saying [entrepreneurs] must be cocky and arrogant . . . but I think [Musk] believed so much in what he was doing . . . he succeeded,” said Motsepe.
Apr 28, 2022
If the tech space had a version of a Mary J. Blige song, it would be the story of Riz Nwosu. As a huge fan of Tesla’s products and admirer of Elon Musk, Riz worked on a backpack concept called Cyberbackpack. Inspired by the 2019 development and unveiling of the Tesla Cybertruck, Riz started developing a backpack based on that concept. After meeting Elon Musk and Franz von Holzhausen (designer of the Cybertruck), Riz finalized the design for what would become the Cyberbackpack. Excited about his development, Riz bought and registered cyberbackpack.com to begin taking pre-orders – a sales strategy he says he picked up from Tesla. According to a newsletter post that Riz posted on Linkedin, he received his prototype of the backpack just last month. He also launched the Cyberbackpack on ProductHunt and created a Shopify website to start receiving official orders. Once it was out there, he says the response to the backpack was positive — the people were interested.
Apr 18, 2022
During TED 2022: A New Era, Elon Musk was one of its leading speakers for its Awe session. The exclusive interview with Chris Anderson came hours after the founder and CEO of Tesla announced that next on his agenda was seeking to buy out Twitter. As previously reported by AfroTech, Musk wrote a letter to Twitter Chairman, Bret Taylor, about his $43 billion offer.
Apr 17, 2022
The saga between Twitter and Elon Musk continues. The founder and CEO of Tesla , recently purchased a 9.2% stake in the popular social media site, Twitter. After declining the opportunity to be a part of Twitter’s board , Musk made an unprecedented and unsolicited appeal to buy the social media company for $54.20 a share. This equates to an estimated $43 billion buy-out proposal. In a letter disclosed in an SEC filing for the sales offer, Musk wrote a letter to Twitter Chairman, Bret Taylor, describing the platform’s need to be redeveloped and transformed. “However, since making my investment I now realize the company will neither thrive nor serve this societal imperative in its current form. Twitter needs to be transformed as a private company. As a result, I am offering to buy 100% of Twitter for $54.20 per share in cash, a 54% premium over the day before I began investing in Twitter and a 38% premium over the day before my investment was publicly announced. My offer is my best...
Apr 14, 2022
Tiffany James is ensuring financial literacy will be accessible to Black women. As AfroTech previously told you, the 27-year-old is the founder of Modern Blk Girl (MBG). The digital platform was created to ensure minority women have a safe space to be themselves and learn about the stock market. For James creating MBG stemmed from her Caribbean upbringing in which financial literacy was nonexistent. It was not until the age of 21 that James became more conscious of how stocks could transform her ways of living. In fact, after investing in various stocks including Tesla she turned $10,000 into two million within three years. “If I had the knowledge I have now about financial literacy when I was younger, a lot of things could have been different for me. One experience that I went through is not having money for simple things like high school prom, senior trip, and a cap and gown but if I knew I could invest in Apple my junior or senior year I would have been fine,” James told...
Apr 14, 2022