Elon Musk will have more money to spend and invest after shareholders approved his $1 trillion Tesla pay plan. With this additional billion in his account, the richest man in the world could start a new business venture, make major investments, and continue his philanthropic works.
However, there are still conditions to meet for that to happen. For now, let's see how Musk spends his wealth.
How Does Elon Musk Spend His Money?
Elon Musk is the wealthiest man alive, and his continuous drive to deliver advanced vehicles through Tesla and explore space through SpaceX is expected to keep him at the top of the chain. However, with billions of dollars in his pocket, one can't help but wonder how he spends his money.
Musk has built his fortune due to his ownership stakes in Tesla, Inc. and SpaceX. He consistently reinvests his money in his companies rather than spoiling himself with luxury items.
Although Musk can afford to live in a mansion, he prefers a humble abode and isn't interested in owning multiple properties. In May 2020, he tweeted about disposing of all his houses.
'I am selling almost all physical possessions. Will own no house,' he wrote.
He had already sold most of his properties, including those in Los Angeles and California. Instead, the billionaire decided to settle in a 375-square-foot home outside SpaceX's launch site in Boca Chica, Texas.
Musk is so committed to technology and invested in space exploration that he adjusts his lifestyle to support these goals. Musk dreams of taking humans to Mars, an expensive and bold aspiration.
'I'm going to colonize Mars. My mission in life is to make mankind a multiplanetary civilization,' he wrote on X, formerly Twitter, in October 2024.
"I'm going to colonize Mars. My mission in life is to make mankind a multiplanetary civilization."
— Tesla Owners Silicon Valley (@teslaownersSV) October 29, 2024
Elon Musk pic.twitter.com/RT5VKLmOiN
Elon Musk Supports Various Foundations And Research
Aside from rolling his money into funding his massive ambitions, Elon Musk founded the Musk Foundation to promote renewable energy, crewed space exploration, science and engineering education, and the development of safe AI for humanity. He also donates to several nonprofits to support various research projects.
Among Musk's notable donations are the $100 million for a STEM-focused school in Texas in 2022, $55 million to St. Jude Children's Research Hospital for cancer research, and $50 million to fund the XPRIZE Foundation Carbon Removal competition, per Forbes Andorra.
He also shed $30 million for public schools and nonprofits in Texas' Rio Grande Valley in March 2021; $10 million to support the University of Texas' demographic research in December 2021; and another $10 million to the YC Org, the funding vehicle for a nonprofit Musk co-founded, for AI benefit research.
What Does The $1 Trillion Tesla Pay Mean For Elon Musk?
Tesla shareholders approved Elon Musk's $1 trillion in stock awards over the next decade. So, the businessman could receive up to $878 billion in value under current assumptions if he meets all the conditions, Reuters reported.
The conditions include Musk hitting its very ambitious operational and valuation milestones, including delivering 20 million vehicles, operating 1 million robotaxis, and selling 1 million robots. The approved paycheck doesn't go straight to Musk's pocket but triggers a tranche of stock.
Elon Musk on Roadster
— Tesla Owners Silicon Valley (@teslaownersSV) November 8, 2025
"I feel confident saying it'll be the most exciting product unveil ever. I think it will be inspiring to a lot of people. And just it's, it's it's like the coolest car if it even is a car, that has ever existed. That will probably be the coolest car if it… pic.twitter.com/2O6zN4yLBb
Overall, it's a milestone-based vesting, and the value fluctuates because the awards are in stock. The money Musk will receive will depend on Tesla's share price at the time of vesting.
Originally published on IBTimes UK
