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Tesla’s rapidly rising share price has made CEO Elon Musk the richest person in the world this year—but he’s not the only member of the Musk family cashing in.
Elon’s youngest brother, Kimbal Musk, was an early investor in the electric carmaker and has served on the company’s board since 2004. It’s a lucrative gig. Forbes conservatively estimates that Kimbal Musk has a net worth of about $700 million. That’s largely thanks to his 0.04% stake in Tesla, plus options to purchase 172,250 Tesla shares, worth about $170 million as of Nov. 9. He also owns about $2 million worth of stock in Chipotle, where he is also a director, and likely has a stake in SpaceX, Elon Musk’s private spaceflight company, where Kimbal also sits on the board.
The youngest son of Maye and Errol Musk, Kimbal grew up in South Africa and went to Queen’s University in Ontario, Canada with Elon. (Elon left after two years to finish his degree at the University of Pennsylvania.) After graduating in 1995, Kimbal and Elon cofounded Zip2, a software company that was acquired by Compaq in 1999. After that, he invested in X.com, Elon’s next startup, which eventually became part of Paypal, according to CNBC. He joined Tesla’s board the same year Elon invested $6.5 million to become the company’s largest shareholder and chairman of the board.
Read the full story on Forbes: https://www.forbes.com/sites/rachelsandler/2021/11/11/the-other-musk-getting-rich-off-tesla-elons-youngest-brother/?sh=a7f732c7758f
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