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How Much Money Does Elon Musk Make an Hour in 2023 (Elon Musk’s Hourly Pay)

Find out the hourly rate of the richest American—Elon Musk.

Jane Tumar - Finance Writer
Written by
Finance Writer
Derek Sall - Personal Finance Expert
Reviewed by
Personal Finance Expert
6 min
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Meanwhile, the US federal minimum wage is still a pitiful $7.25 an hour. It would take a minimum-wage worker over 15,000 years to earn a billion dollars (provided they work 168 hours a week and don’t have any expenses). Just how much do you have to make to get there in a decade or less? Elon Musk has an answer to this question.

In this article, you’ll learn:

  • What’s Elon Musk’s hourly rate?
  • How we’ve counted it using three different methods. 
  • The answers to your burning questions, and some Elon Musk trivia.

See related questions and answers:

(Want to be a billionaire yourself? Sara Blakely, founder of Spanx, has an amazing 14-video Masterclass on how to build a billion dollar company from scratch. If anyone should know how to do it, it's her...well, her and Elon Musk.) 

How Much Does Elon Musk Make an Hour

Elon Musk makes around $1.6 million every hour on average, based on his net worth that rose by $143.9 billion in the past decade. That’s 220,690 times the federal minimum wage. That number’s even higher if you look at the pandemic years, or adjust his income for a 40-hour work week.

Let’s dissect that—

Elon Musk: His Salary per Hour and How We Calculated It

Billionaires are humans just like us—except for the number of zeroes in their accounts. Their wealth is usually tied to the stock market—so their net worth can go up and down with it.

That’s why they can sometimes gain or lose hundreds of millions in a day. You can figure out a billionaire’s net worth in many ways (no, not necessarily by stalking them) when most of their assets are private—as is the case with Elon Musk.

We’ve used data from Forbes and Bloomberg to see how much the new CEO of Twitter makes in an hour (when he’s not busy reinstating and banning Kanye). 

1. How much money Elon Musk makes an hour (ten-year average)

Elon Musk’s fortune was an unremarkable (well, for a billionaire) $2.55 billion a mere decade ago—and yet he opened champagne last New Year’s Eve boasting a net worth of $146.5 billion.

We probably won’t ever know if it was a bottle of Dom Pérignon or Krug. But knowing those two figures, we can find out the ten-year average— Elon Musk has been making roughly $14,390,000,000 a year.

Divide that by 365, and there you go— You get a stellar $39,403,066.81 a day. That’s $1,641,794.45 an hour (if you want to rage about the federal minimum wage a bit longer).

2. Elon Musk’s hourly earnings during COVID-19

The pandemic was special in every way possible. Many of us got poorer. The rich got richer (why is it almost never the other way round?). And Elon Musk became the richest of them all.

His fortune went through the roof in 2020, so (being nosy by nature) we’ve decided to check how much he made during the pandemic.

We used the same method as before—only this time we counted from January 2020 when Elon Musk’s net worth was $29.7 billion. Yup, during the COVID-19 outbreak Elon was making $4,444,444.44 an hour. (Why aren’t his money-making talents just as contagious?)

3. What’s Elon Musk’s hourly wage?

Elon Musk claims he works “morning to night, seven days a week”. While you’re wondering if engaging in Twitter spats still counts as work, let’s not forget that Elon doesn’t earn a traditional salary—he makes money from stocks.

Isn’t it fair to say then that his “working hours” would be those of the US stock markets?

There are around 252 trading days in the US—and the markets are open from 9:30 a.m. to 4 p.m. If we go by this, Elon Musk has worked 13,860 hours in the past decade (252 days x 5.5 working hours x 10 years). His hourly wage would then be $10,382,395.  That’s $1.4 million times the federal minimum (now you can rant even more).


Is Elon Musk the richest man on Earth?

Not any more. He’s been dethroned, and is no longer the richest on the planet (at the time of writing). He had a short run of about a year—after overtaking Jeff Bezos as number one. Forbes lists Bernard Arnault as the richest person in the world right now—but Elon Musk still holds the top spot in the US.

How did Elon Musk get rich?

Elon Musk’s father might have owned an emerald mine in Zambia, so Elon didn’t exactly grow up poor—but he also used a simple strategy to get rich. As well as carefully managing his money, he made ambitious early investments in companies like Tesla.  As their market value grew, Musk—the largest shareholder—made big bucks.

Does Elon Musk own PayPal?

You probably don’t know that there’s a link between Elon Musk and PayPal. Even though Elon doesn’t own the company anymore, he was one of its founders. He merged X.com (a company he co-founded in 1999) with Confinity (an online bank)—that’s how PayPal was born. Elon Musk got almost 180 million from selling PayPal to eBay in 2011. He invested it all into his other companies:

  • SpaceX—$100 million
  • Tesla—$70 million
  • SolarCity—$10 million
How much money did Elon Musk make in 2022?

Or rather—how much money did Elon Musk lose in 2022? It was an eventful year for him, for sure. He bought Twitter for $44 billion, sold millions of Tesla’s shares to cover the deal—and faced criticism from both companies’ top brass.

He made history by becoming the first person to lose $200 billion. Ever. His fortune fell by $123.5 billion in 2022. Who knows, perhaps one day (maybe soon) someone will write a book titled The Rise and Fall of Billionaires in the Times of COVID-19.

They got richer than ever during the pandemic. But the pendulum is swinging back—the world’s richest collectively lost $1.9 trillion in 2022.


See all

Ahmed, N., Marriott, A., Dabi, N., Lowthers, M., Lawson, M., & Mugehera, L. (2022). Inequality Kills: The unparalleled action needed to combat unprecedented inequality in the wake of COVID-19. Oxfam. https://doi.org/10.21201/2022.8465

Bloomberg Billionaires Index—Elon Musk. (n.d.). Retrieved March 16, 2023, from https://www.bloomberg.com/billionaires/profiles/elon-r-musk/

Elon Musk. (n.d.). Retrieved March 16, 2023, from https://www.forbes.com/profile/elon-musk/

Elon Musk Becomes First Person Ever to Lose $200 Billion—Bloomberg. (n.d.). Retrieved March 16, 2023, from https://www.bloomberg.com/news/articles/2022-12-30/elon-musk-becomes-first-person-ever-to-lose-200-billion

Elon Musk Net Worth: How the Person of the Year Built His Fortune | Time. (n.d.). Retrieved March 16, 2023, from https://time.com/6127754/elon-musk-net-worth-person-of-the-year/

Elon Musk’s family once owned an emerald mine in Zambia—Here’s the fascinating story of how they came to own it | News24. (n.d.). Retrieved March 16, 2023, from https://www.news24.com/news24/bi-archive/how-elon-musks-family-came-to-own-an-emerald-mine-2018-2

Elon Musk’s unpredictable Twitter habits have Tesla investors worried—The Washington Post. (n.d.). Retrieved March 16, 2023, from https://www.washingtonpost.com/technology/2022/12/24/elon-musk-twitter-meltdown-tesla/

FORM 10-K. (2001, 31). UNITED STATES SECURITIES AND EXCHANGE COMMISSION. https://www.sec.gov/Archives/edgar/data/1103415/000091205702009834/a2073071z10-k405.htm

Minimum Wage. (n.d.). DOL. Retrieved March 16, 2023, from http://www.dol.gov/general/topic/wages/minimumwage

The Planet’s Billionaires Are Nearly $2 Trillion Poorer This Year. (n.d.). Retrieved March 16, 2023, from https://www.forbes.com/sites/chasewithorn/2022/12/21/the-planets-billionaires-are-nearly-2-trillion-poorer-this-year/

Editorial team

Meet the team
Jane Tumar - Finance Writer

Finance Writer

Storyteller by day, data enthusiast when I have free time, meticulous researcher—always. I’ve been working as a content writer for the past 3 years. With my degree in Computer Science and Literature, I am a breathing and walking juxtaposition. I love metaphors, SQL, and round brackets (duh!).

Kacper Kozicki - Editor


Editor, copywriter, and multilingual translator with expertise in producing tailored content for global online brands. When not editing articles for LifeAndMyFinances.com, he enjoys rummaging through paper dictionaries, walking in nature, and making travel plans.

Derek Sall - Personal Finance Expert

Personal Finance Expert

Derek has a Bachelor's degree in Finance and a Master's in Business. As a finance manager in the corporate world, he regularly identified and solved problems at the C-suite level. Today, Derek isn't interested in helping big companies. Instead, he's helping individuals win financially—one email, one article, one person at a time.

Deepti Nickam - Finance Writer

Finance Writer

Content writing and marketing professional with 4+ years of experience in the B2B and B2C sectors. Deepti has written about several subjects, including finance, project management, human resources, and more.

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