Tesla Motors’ founder may have designs on travel to Mars, but his brother Kimbal Musk plans to stay on earth.
Although the two have collaborated on a couple of major ventures like PayPal and Zip2, Kimbal has amassed his own wealth.
Although it’s hard to top Elon Musk’s success with SpaceX and Tesla, which have catapulted him to a net worth of as much as $13.3 billion, Kimbal has taken a different path toward enriching his fortune.
Kimbal Musk’s Net Worth
So what is Kimbal Musk’s net worth? Tallies have varied from as high as a couple billion in 2015 to a recent count of about $472 million in 2021. Both figures are merely estimates based on publicly known sales of stock he has held — including PayPal and Zip2 — along with data on current holdings like The Kitchen.
Started at 18
Kimbal first got bit by the capitalist bug when he was 18, and started College Pro Painters, a residential painting business that made $50,000 during its two-year lifespan.
From there, he and Elon launched Zip2, a sort of precursor to Google Maps that also provided local advertising content to newspapers like The New York Times and The Boston Globe.
In 1999, when Kimbal was 26, Zip2 was sold to Compaq for $307 million after beating a bid from The New York Times.
According to Forbes, Elon only received a small slice of the sale, but it was enough for him to “never have to work again.”
From PayPal to Culinary Institute
Yet, Kimbal Musk’s net worth only continued to grow when he and his brother invested in X.com, an online banking site that would subsequently become PayPal.
In 2002, eBay acquired PayPal for $1.4 billion. Although it’s not clear how much Kimbal took home from the deal, it was probably enough for another life-long vacation.
From there, Kimbal sashayed into the restaurant industry by enrolling in the French Culinary Institute.
In 2004, he launched The Kitchen, a chain of restaurants located throughout Colorado and Illinois that serve up farm-to-table recipes. The first restaurant cost $600,000 to open, which was only a fraction of Kimbal’s fortune, and Elon chipped in with some cash as well. Regardless of the initial investment, The Kitchen proved to be extremely lucrative, and although the exact figures are not available, Kimbal has called it his most successful venture.
Other Business Roles
Although he’s best known for his endeavors in the culinary world, Kimbal has held other leading roles in companies over the past couple of decades. In 2006, he was appointed CEO of OneRiot, an online advertising agency. Then, in 2010, after a freak inner tube accident that paralyzed him for two months, Kimbal decided he was done with working for OneRiot. Soon after Kimbal quit, Walmart Labs purchased OneRiot.
He continues to see himself as having a personal mission of getting communities rapidly thriving by improving every part of the food culture. That vision led him to create Learning Gardens, an educational nonprofit that teaches school children about agriculture. It also lead him to co-found Square Roots, an indoor urban farming initiative focusing on modular farming in urban areas. The modular farms look something like this:
In addition to his focus on The Kitchen and Learning Garden, Kimbal sat on the board of Chipotle Mexican Grill between 2013 and 2019. He currently sits on the boards of Tesla Motors and SpaceX.
Indeed, a penchant for hard work appears to run in the Musk family.
While Kimbal’s role on Tesla’s board is unclear, it’s certainly been lucrative. According to Yahoo Finance, between Sep 21, 2021 and Sep 21, 2023, Kimbal has sold or exercised options on $134.8 Million worth of Tesla shares. Here is the data:
According to Musk’s most recent SEC filing, he currently holds 1,708,720 shares of Tesla. At current market value, this is worth $435,723,600. In addition to his options, his role on the board of directors at Tesla nets him a modest $20,000 annual salary (SEC).
Venture Capital & Other Investments
In addition to his Tesla holdings, Kimbal Musk’s net worth has been fueled by investments in two Valor venture capital funds managed by Tesla board director Antonio Gracias. (source). Kimbal also has historically owned shares in Chipotle Mexican Grill, and reportedly drives a Porsche and wears Patek Phillip watches. His olorado home was designed by high-end architect Annette Martin.
Kimbal is available on social media, here are his accounts:
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By: James Hendrickson
Title: What Is Kimbal Musk’s Net Worth?
Sourced From: www.dinksfinance.com/2023/09/kimbal-musks-net-worth/
Published Date: Fri, 22 Sep 2023 08:00:20 +0000
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