After achieving the prestigious trillionaire status, Elon Musk claimed that leaving his wealth for his kids would be a 'mistake'. In turn, none of his 14 children will inherit it.
After SpaceX went public, Elon Musk soon reached the Trillionaire status. Following his new achievement, he sat down with the Wall Street Journal's CEO Council for a conversation. During the chat, he made a shocking confession, stating that he does not believe a person should gain wealth or corporate control because of a relationship. In turn, it quickly sparked speculation that none of his 14 kids might inherit his vast wealth.
Elon Musk recently opened up about the future ownership of his companies. He explained that the future of Tesla or SpaceX should be determined by merit, not by family ties. The billionaire explained that he does not believe in automatically giving his company shares or control to his children. Especially when I did not have the desire or the capability to run the business. In his words:
"I am definitely not of the school of automatically giving my kids some shares of the companies, even if they have no interest, inclination or ability to manage the company. I think that's a mistake."
While Elon has not publicly named any successors, he has previously hinted that some trusted executives and capable leaders would be better suited to continue his companies' missions. Some reports suggest that the majority of his wealth is tied up in stock holdings and business assets, rather than cash. Therefore, his succession planning would be important to preserve his companies that aim for the eventual good of humankind. Elon's comments are part of his philosophy, which he has shared for several years. He believes that leadership should go to someone who can successfully manage and grow a company.
According to reports, Elon Musk has also structured the majority of his wealth through family offices, trusts and philanthropic initiatives. In fact, the majority of his companies might eventually support important projects related to space exploration, AI, renewable energy and other causes. However, if he hypothetically decides to divide it equally among his 14 children, each child could get tens of billions of dollars. However, Elon has never suggested that he has any such plan.
Elon Musk's comments have once again brought attention to his complex relationships with some of his children. His most public family conflict took place with his daughter, Vivian Jenna Wilson. She legally changed her name in 2022 after coming out as transgender. Vivian has frequently expressed her wish to distance herself from her father. At the same time, she clarified that she no longer wants to be connected to him. The billionaire has also faced public custody battles with the mothers of some of his children.
In particular, the end of his relationship with musician Grimes led to legal disputes over parenting arrangements. She also accused him of blocking her access to one of her sons for months. On the other hand, conservative influencer Ashley St Clair has reportedly taken legal action related to custody, paternity and child support matters. In fact, Elon has acknowledged that maintaining a close bond with such a family is challenging.
Elon Musk reportedly has 14 children with four different women. He shares six children with his first wife, Justine Wilson. It includes twins Vivian and Gryphon and triplets Kai, Saxon, and Damian. At the same time, they could have a son, Nevada. But he died in infancy. The billionaire also has three children with musician Grimes, and four with Neuralink executive Shivon Zilis. Some reports also claimed that he has a child with influencer Ashley St Clair. Elon has frequently shared his belief that reducing the birth rate is a threat to human civilisation, a view that also shapes his personal life.
What do you think about Elon Musk's plan to not pass all his wealth to his 14 children?
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