Kimbal Musk, a South African entrepreneur with a net worth of $720 million, is renowned as Elon Musk’s brother and a key figure in Tesla Inc. and SpaceX.
He co-founded Zip2 with Elon in 1995, later acquired by Compaq for $307 million.
Kimbal owns The Kitchen Restaurant Group and co-founded Big Green, establishing over 700 “Learning Gardens” in US schools.
He also co-founded Square Roots, an urban farming venture.
Kimbal’s ventures span TV appearances, including “60 Minutes,” and he was honored as a “Global Social Entrepreneur of the Year” by the World Economic Forum in 2018.
Kimbal Musk’s Net Worth
As of April 2, 2024, Kimbal Musk’s estimated net worth is at least $720million.
He directs Tesla Inc and owns around 1,608,720 shares of Tesla Inc (TSLA) stock, which is valued at over $282 million.
You can find more information in the Latest Holdings Summary section of Kimbal Musk‘s profile.
| Category | Richest Celebrities βΊ Celebrity Chefs |
|---|---|
| Net Worth | $280 Million |
| Birthdate | Sep 20, 1972 (51 years old) |
| Birthplace | Pretoria, South Africa |
| Profession | Chef |
| Nationality | South African, Canadian |
HowΒ Kimbal Musk Made His Net Worth
Tesla Shares
According to documents filed with the SEC, Kimbal has sold $100 million worth of shares in Tesla since the company went public.
He’s the fifth biggest individual owner of stock in his older brother’s company.
Before Tesla did a 5-1 split in August 2020, Kimbal had 130,000 shares.
After the split, his shares went up to 572,000. On January 8, 2021, when Tesla reached $880, Kimbal’s Tesla shares were worth $503 million.
In August 2023, Tesla split again, this time 3:1.
After this split, Kimbal had 1.7 million shares.
In June 2023, when Apple’s stock hit $250, up 90% from the start of the year, Kimbal’s stake was once again valued at around $500 million.
Zip2
In 1994, Kimbal started a house painting business with College Pro Painters.
The next year, he and Elon created Zip2, an online city guide.
The company gave content to the “Chicago Tribune” and “The New York Times” online.
Compaq bought it for $307 million in 1999.
Elon made $22 million, and Kimbal made $15 million from the sale.
After selling Zip2, Kimbal invested in new tech and software companies, and Elon’s online finance company, X.com, which later merged with PayPal.
In 2002, eBay bought PayPal for $1.5 billion in stock.
Other Ventures
In 2004, he opened The Kitchen in Boulder, Colorado, with his then-wife and Hugo Matheson.
The Kitchen has locations in Chicago and Denver.
Kimbal was the CEO of One Riot from 2006 to 2011 when it was acquired by Walmart-Labs.
In 2011, he opened Next Door American Eatery in downtown Boulder, which expanded to 10 locations by 2019.
Musk supported the Growe Foundation for seven years before establishing The Kitchen Community, now called Big Green.
They’ve set up over 700 Learning Gardens in schools nationwide.
The Kitchen donates part of its sales to plant Learning Gardens in local schools.
In 2012, Chicago Mayor Rahm Emanuel gave $1 million to Big Green to plant 80 Learning Gardens in local schools.
Celebrating the first day of spring today by pledging to plant with @BigGreen π± This year weβre showing how easy it is to start a garden. Just grab a container- a mug, shoe, hat, whatever- and fill it with soil to plant a seed! Happy #PlantASeedDay pic.twitter.com/DqFm9qMk37
— πΊπππππ πΌπππ π€ (@kimbal) March 19, 2024
Real estate
Kimbal Musk’s real estate is a big part of his wealth.
He owns properties like a Los Angeles home and a Colorado ranch.
These places are valuable assets that add to his money.
He doesn’t just own fancy homes; he uses them for his businesses and charity work too.
For example, he grows food for his restaurants and hosts events for his non-profit organization, Big Green, on his Colorado ranch.
Controversy
Kimbal Musk’s restaurant group gathered money (known as the Family Fund) from its workers to help them in tough times.
However, when the COVID-19 pandemic hit in 2020, the restaurants shut down for good, leaving the employees unable to access the funds they had put in.
Even though the restaurants reopened later on, it’s said that they didn’t give back the money to those who contributed.
Musk argued against these reports, saying journalists didn’t have all the facts.
Now, The Kitchen Restaurant Group says they’ve changed things.
They’re now getting contributions from owners and customers.
They’re rerouting tips from take-out orders to the fund and matching them.
The group also says they’ve given out grants and consider both furloughed and laid-off workers in the future.
Philanthropy
Kimbal Musk gives a lot of money to help others.
He cares about making the world better.
He gives money to groups like the American Red Cross and the United Way.
He even started his charity, called Big Green.
Musk’s money helps with things like helping after disasters, helping kids learn, and protecting the environment.
Frequently Asked Questions
How did Kimbal Musk get rich?
Kimbal Musk got rich by selling his company, Zip2, for $350 million.
Later, he co-founded PayPal, which eBay bought.
After moving to New York, he pursued his love for food by joining the French Culinary Institute.
How did Musk become a millionaire?
Most people believe Musk got rich from Tesla (TSLA).
He runs the electric car company, and TSLA’s stock has skyrocketed by 3,000% over the past ten years, boosting Musk’s wealth.
How many companies does Kimbal Musk have?
He owns The Kitchen Restaurant Group, which has restaurants in Colorado and Chicago.
He also co-founded and chairs Big Green, a nonprofit that builds outdoor classrooms called Learning Gardens in schoolyards across America.
FURTHER EXPLORATION