Maye Musk, Elon Musk’s mother, recently shared a glimpse into her son’s past, revealing the story behind the modest suit he frequently donned during his early career. This suit was a staple during the time when Elon Musk became the first individual to amass a net worth of $400 billion.
As the owner of SpaceX, Tesla, and Twitter, Musk’s financial empire continues to expand.
According to the Bloomberg Billionaires Index, as of December 11, the 53-year-old entrepreneur’s net worth has soared to an impressive $447 billion. This positions him $198 billion ahead of Jeff Bezos, the second-richest person globally, who has a net worth of $249 billion.
In addition to these ventures, Musk is also linked with companies like xAI, The Boring Company, and Neuralink.
Bloomberg’s data indicates that since the 2024 US presidential election, Musk’s fortune has increased by approximately $136 billion.
Despite these achievements, Musk’s growing wealth has sparked some debate, especially in contrast to the median net worth of the average American.
As Musk’s admirers celebrate his financial ascent, his mother, Maye, has taken to social media to remind everyone of his humble beginnings that played a significant role in his initial career path.
She posted a nostalgic photo on Twitter featuring a youthful Musk. In the image, he sports a $99 black suit, complete with a shirt, tie, and complimentary socks.
“This photo was taken in our rent-controlled apartment in Toronto, with my mom’s painting on the wall,” Musk’s mom tweeted.
“The suit cost $99 which included a free shirt, tie and socks. A great bargain! He wore this suit every day to his bank job in Toronto.”
She added: “I couldn’t afford a second suit. We were happy.”
The snapshot is believed to have been taken in 1990 when Musk was around 19 years of age.
Supporters of the tech mogul quickly responded to the post, viewing his journey as a story of inspiration and perseverance.
One admirer commented: “I love that you share this sort of stuff, @mayemusk. People need to know what the path of success sometimes looks like: cheap suits and a lot of hard work.”
Another supporter remarked: “This is the perfect example of the American dream. Within a few decades, a talented driven person can go from off the rack suit and rent-controlled apartment to being the world’s richest human being. I can’t think of anywhere else this could happen.”
“I couldn’t care less what Elon Musk wears,” another fan expressed. “I respect him for the things he’s done and the things he’s doing. None of which are based on greed, it’s our future that motivates him.”