|Net Worth:||$2.5 million|
|Profession/Career:||Electromechanical Engineer, Property Developer, Businessman|
|College:||University of Pretoria|
|Full Name:||Errol Graham Musk|
|Date of Birth (Age):||June 6, 1946 (76 years old)|
|Place of Birth:||Pretoria, Transvaal, South Africa|
|Height:||6 ft 2 in|
Frequently associated with
- Elon Musk
- Kimbal Musk
Net Worth of Errol Musk
Errol Musk’s net worth is estimated to be roughly $2.5 million.
Although he was a successful electromechanical engineer, that wasn’t where most of his wealth was created. Most of his wealth stemmed from his entrepreneurial efforts, including his property development projects and Zambian emerald mine investment.
The emerald mine he owned was on Lake Tanganyika, which he bought in 1969 as a 50% partner. Interestingly, when he bought the emerald mine, he had to sell an airplane of his that was worth almost $100K. However, the emerald mine was bought for about less than half of that, between $40K to $50K. Clearly, he was already wealthy from his property development having owned an airplane.
However, Errol Musk has boasted that the amount of money he made from the emerald mine was absurd, to the point where he couldn’t even close the safe where he kept his cash in.
Errol Musk was wealthy enough to have retired by the young age of 37, and spent his time traveling the world. It was also during this time around the 1980’s that his net worth was at its peak, an estimated $20 million at the time.
As he spent during his many retired years, his cash has dwindled and is now estimated to be around $2.5 million at this point.
Did Errol Musk give Elon any money?
Update 2022: Elon has stated that his father did not give him any money and had to take out student loans for his college and worked during the day to be able to work on Zip2.
When Elon and Kimbal started their company, Zip2, their father Errol Musk had given them $28,000 to help them out. It was Elon’s first company, and he sold it for $307 million in 1999 to Compaq Computer Corp. However, he has expressed that he resents the time he spent on that company, stating it was highly disappointing and frustrating. This is even after having received $307M for it, which he split accordingly with Kimbal.
Did Elon Musk give his father any money?
Update 2022: Elon has finally spoken out claiming that Errol has run out of money since the 90s and that Elon and his brother Kimbal have been supporting their father ever since. This information came out after an article refuted Elon’s claim of being self-made, by claiming his family owned an emerald mine.
Elon Musk has been known to have given Kimbal, his brother, some money. However, he has not given a single cent to his father Errol Musk. The reason for this is that Elon and Errol do not have a great relationship. Elon has described his relationship with his father as “estranged”. Errol has repeatedly gone on record to state that he is not proud of Elon nor was he ever. It is unclear why, as he never gave a specific explanation, but given those words, it’s not surprising Elon and Errol aren’t on great terms.
How much does Errol Musk earn in a year?
Errol Musk is estimated to earn roughly $125,000 a year.
Remember, Errol Musk has been retired since the age of 37, and he’s currently in his 70’s. He had quite a bit of money when he first retired, and likely has been spending quite a bit of it over the past few decades. But since he’s not currently working, all of his earned income comes from investing the current money that he has, that is, the estimated $2.5 million that he has left.
Assuming he has it all invested in the market, with a conservative return rate of 5% per year, likely in stocks, bonds, and various other products, we can calculate that he would make around $125,000, which is plenty to survive. Granted, it’s not anywhere close to the amount Elon generates every year, but it is respectable in its own right.
Did Errol Musk grow up rich or poor?
Unfortunately, we don’t know whether Errol Musk grew up rich or poor. He has never divulged that information publicly, nor has Elon ever said anything about it. Whether or not Elon knows whether his father grew up rich or poor when his father was younger, we don’t know either.
However, given that Errol made his initial money from property development, there’s a good chance his parents were at least middle class and perhaps already part of that industry to begin with, teaching Errol at some point the ins and outs of the business.
Errol Musk’s wife
Errol Musk has been married twice. His first wife was Maye Musk, whom he married in 1970 and divorced in 1979. His second wife was Heidi Bezuidenhout, whom he married in 1989 and divorced in 2008. I apologize for any confusion caused by my earlier responses.
Errol Musk and his ex-stepdaughter
In 2018, it was reported that Errol Musk had a child with his former stepdaughter, Jana Bezuidenhout. Jana is the daughter of Errol Musk’s second wife, Heidi Bezuidenhout, whom he divorced in 2008. At the time of the scandal, Jana was 30 years old and Errol Musk was 72.
The news of the scandal caused shock and controversy, and many people criticized the relationship as inappropriate and unethical, particularly given the significant age difference between Errol and Jana, as well as the fact that Errol had been a father figure to Jana during her childhood. Errol Musk acknowledged the relationship and his paternity of the child, and expressed regret for the pain it had caused his family.
It’s worth noting that while the relationship and its aftermath were widely reported in the media, the details of the situation remain somewhat unclear, and different sources have reported conflicting information about the circumstances of the relationship and the reactions of those involved.