This says that Errol claims he managed to give his two sons about $115k in total. Which makes sense given he got his Emerald mine share for less than that.
There's also literally zero evidence that Errol had any useful connections here.
It really irritates me how many myths float around because people cannot be bothered to go find the original sources...
My dad worked in the non-profit world making federal senior executive salary, and my mom made over $100k/year as a retail salesperson in a furniture store. My parents managed to pay about $300k in college tuition between me and my brother.
I’d never claim to be anything other than upper middle class (even though my dad grew up in a village in Bangladesh and his elementary school had no walls). But at the same time, if I became a billionaire it would be extremely disingenuous to imply that it was the result of family wealth. This level of family wealth is mundane in top American schools. The journalists whining about Musk almost certainly had similar support from their parents.
If you look at inflation calculator 115K in 1997 is worth 290K today. I don't know a single parent that would or could hand over that amount of cash in 97 or today. It's wealthly regardless of how you slice it.
It's definitely closer to "doctor married a lawyer" levels of money than "single mother barista" levels of money, but "wealthy" normally implies enough money to live comfortably without working, not upper middle class.
For context, a doctor and lawyer family in a state capital will earn $2-3m per decade, which is MUCH more than any reasonable estimates of the Musk family's wealth or income.
I earn 2-3M per decade not including investments or IPO. I've sent multiple children to a University. Giving my children 60K-290K in cash while they were studying is not something that crossed my mind once. In fact I would argue you're supposed to struggle a little bit in college.
According to Elon's dad, he was rich:
‘I drove them to school in a convertible Rolls-Royce Corniche, they had thoroughbred horses to ride and motorbikes at the age of 14. They were spoilt, I suppose. Maybe that’s why Elon is acting like a spoilt child now,’.
This says that Errol claims he managed to give his two sons about $115k in total. Which makes sense given he got his Emerald mine share for less than that.
There's also literally zero evidence that Errol had any useful connections here.
It really irritates me how many myths float around because people cannot be bothered to go find the original sources...