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With an estimated net worth of about $400 billion as of December 2024,[7] he is the richest person in the world according to the Forbes Real-Time Billionaires Index.[8][9] Musk was born and raised in a wealthy family in Pretoria, South Africa. His mother is Canadian and his father is a white South African. He studied briefly at the University of Pretoria before moving to Canada at age 17. He enrolled at Queen's University and transferred to the University of Pennsylvania two years later, where he graduated in Economics and Physics. In 1995 he moved to California to attend Stanford University, but instead decided to pursue an entrepreneurial career, co-founding the web software company Zip2 with his brother Kimbal. Zip2 was acquired by Compaq for $307 million in 1999. That same year, Musk co-founded online bank X.com, which merged with Confinity in 2000 to form PayPal. The company was purchased by eBay in 2002 for $1.5 billion.