Kimbal Musk's net worth is estimated to be $700 million.
The cowboy hat-wearing younger brother of Elon Musk is a successful entrepreneur in his own right.
He made his first big financial success alongside Elon in their first company, but what did Kimbal do since then to make money?
Overview
Kimbal Musk's net worth stats
| Net worth: | $700 million |
|---|---|
| Source of wealth: | Startup investments |
| Date of birth: | September 20, 1972 |
| Place of birth: | Pretoria, South Africa |
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How did Kimbal Musk build his net worth?
Kimball Musk's first venture into the business world was during his time at college. In his interview with Forbes, he recounted that it was a residential painting franchising company called College Pro Painters – hard work but good pay for a student.
Kimbal during the DotCom bubble
Kimbal made his first big financial success alongside Elon in their first company, online city guide Zip2, which supplied content for online versions of popular newspapers at a time when the Internet was unproven technology. The company was sold to Compaq for $307 million in 1999 at the peak of the Dot Com bubble.
Trusting in his brother's entrepreneurial abilities, Kimbal was an early investor in Elon’s next startup, X.com, which was acquired by PayPal in 2001.
Returning to tech, Kimbal was the CEO of OneRiot, a social advertising network, from 2006 to 2011. The company did very well and was eventually sold to Walmart-Labs.
Kimbal and Tesla
Kimbal also became an early investor in his brother Elon’s company Telsa Inc (NASDAQ: TSLA), after Elon became involved in 2004, a move that would result in massive paydays ten years later.
Insider trading monitoring site CoreStreet estimates that a $192 million chunk of Kimbal's personal wealth has come from selling off shares in Tesla.
Kimbal Musk is Director at Tesla Inc and executed at least 29 trades of stock over the years. His biggest sale of Tesla stock was in November 2021, when he sold 88,500 units of Tesla stock for $108 million.
Kimbal also sits on the board of SpaceX, another of Elon's prominent businesses.
Kimbal and food
Kimbal explained his love for food on the American Optimist podcast and revealed that he had relocated to New York, where he got a diploma from the French Culinary Institute.
He was so moved by the events on 9/11 that he volunteered to cook for firefighters in the aftermath. This spurred him on to get involved in the hospitality industry, opening a community bistro in 2004.
This venture proved to be very successful and has expanded to include locations in a variety of cities, eventually becoming The Kitchen Restaurant Group.
Kimbal’s goal was to solve America's obesity crisis and, later, promote sustainable farming.
Musk also co-founded a non-profit which supports meals and gardens in at-need communities in various parts of the country.
As of the last count, his nonprofit, Big Green, services 600 schools and offers a benefit to more than 300,000 children.
Kimbal and crypto
Like his brother, Kimbal has a foot in crypto, but he's cautious.
He has criticized Bitcoin miners and many crypto projects for being heavy energy consumers and their impact on the environment.
Kimball spoke at Coindesk's Consensus 2022 event about the launch of Big Green DAO – a decentralized autonomous food equality collective - on the Polygon Matic network.
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FAQs
How rich is Kimbal Musk?
Kimbal Musk is worth over $700 million.
Is Kimbal Musk a billionaire?
Unlike his older brother, Kimbal is not a billionaire, but he's still a staggeringly wealthy man.
Was Kimbal Musk born rich?
The Musk family lived in South Africa and was not wealthy. After Kimbal's parents divorced, his mother and brothers did it tough. The Musks did not inherit money.
Image: Wikimedia
