In the ever-evolving world of entrepreneurship, Trevor Milton’s name stands out, especially when discussing net worth and financial success. His journey from a visionary entrepreneur to the founder of Nikola Corporation has seen dramatic fluctuations in wealth, marking a tale of ambition, innovation, and resilience.
This article delves into Trevor Milton net worth as of 2024, revealing the peaks and valleys of his financial landscape.
- 1 Quick Facts
- 2 What is Net Worth of Trevor Milton in 2024?
- 3 Trevor Milton Overview and Wiki
- 4 Social Media Accounts
- 5 Trevor Milton Latest News 2024
- 6 FAQs about Trevor Milton
- 7 Conclusion
|Trevor Robert Milton
|April 6, 1982
|42 years old
|Bill Milton (father), Sally Milton (mother)
|One brother and three sisters
|Layton, Utah, United States
|Attended Utah Valley State College (dropped out)
|Chelsey Bergmann (m. 2017)
|$250 million – $3.1 billion
|Source of Wealth
|Entrepreneurship, Nikola Corporation
|180 cm (6 feet 2 inches)
|78 kg (171 lbs)
What is Net Worth of Trevor Milton in 2024?
In 2024, Trevor Milton’s net worth is estimated to be between $250 million and $3.1 billion. This staggering wealth is largely attributed to his innovative entrepreneurship and involvement with Nikola Corporation.
Despite facing challenges and controversies, Milton’s business acumen has undoubtedly played a pivotal role in amassing this impressive fortune.
Trevor Milton Overview and Wiki
The Entrepreneurial Journey Begins
Milton’s story is one of ambition, innovation, and resilience. Born in 1982 in Layton, Utah, he grew up in a family with one brother and three sisters. His entrepreneurial spirit was evident early on, as he ventured into the business world right after dropping out of Utah Valley State College.
Early Ventures: From Alarms to Online Ads
His first enterprise was St. George Security and Alarm, a venture that laid the foundation for his business career. Though he exited this business for a reported $300,000, it was just the beginning of his entrepreneurial journey.
He then launched an online classified ads website for used cars, though this endeavor did not meet the same success.
Pioneering in Alternative Energy: dHybrid Inc.
Not deterred by early setbacks, he founded dHybrid, Inc., focusing on retrofitting commercial trucks with natural gas engines.
This venture put him on the map in the alternative energy vehicle sector. Although dHybrid faced its own set of challenges, including legal disputes over intellectual property, it was a critical step in his career path.
The Birth of Nikola Motor Company
In 2015, his vision for revolutionizing the automotive industry led to the creation of Nikola Motor Company.
With an initial investment from Worthington Industries, he embarked on a mission to develop hydrogen-powered vehicles. As CEO, Milton steered the company to significant milestones, including a successful market debut through a reverse merger in 2020.
Rising to Prominence and Facing Challenges
Under his leadership, Nikola’s value skyrocketed, at one point surpassing Ford Motor Co. in market capitalization.
However, this success was not without its challenges. In 2020, he faced allegations of securities fraud, leading to his resignation and legal investigations. These events significantly impacted Nikola’s market value and his reputation.
His personal life has been as dynamic as his professional journey. He married Chelsey Bergmann in 2017, and together, they’ve built a life in Phoenix, Arizona.
His lifestyle reflects his success, including the purchase of a lavish ranch in Utah. However, personal controversies, including sexual misconduct allegations, have also been a part of his story, though he has vehemently denied these accusations.
Among his notable properties is a 2,000-acre ranch in Utah known as Riverbend Ranch. This expansive property features a 16,800 square-foot mansion and was acquired with the intention of organic farming and wildlife preservation.
The purchase of this ranch set a new record for the state of Utah at $32.5 million, reflecting Milton’s substantial investment in real estate.
Additionally, he resides in Phoenix, Arizona with his wife, Chelsey Bergmann, indicating that he owns or maintains a residence there as well. His landholdings are a testament to the wealth he accumulated during his time at Nikola before his legal troubles began.
Legacy and Future Prospects
Milton’s career is a testament to the highs and lows of the entrepreneurial journey.
From humble beginnings to leading a multi-billion-dollar corporation, his story is one of relentless pursuit and resilience in the face of adversity. As of 2024, while navigating legal challenges, Milton’s legacy in the automotive and energy sectors remains a topic of significant interest and debate.
Social Media Accounts
- Facebook: N/a
- Instagram: N/a
- Twitter: N/a
Trevor Milton Latest News 2024
- Milton, the founder of Nikola Corporation, was sentenced to four years in prison for fraud. He was found guilty of making false statements about the company’s electric trucks, leading to significant investor losses. The sentence also includes a $1 million fine and three years of supervised release.
FAQs about Trevor Milton
Who is Trevor Milton?
He is an American former businessman and the founder of Nikola Corporation, a company that produces electric- and hydrogen-powered trucks. He was born on April 6, 1982, in Layton, Utah.
What is Milton known for?
He is known for founding Nikola Motor Company in 2014 with the aim of building semi-trucks powered by batteries and hydrogen. He served as the CEO and later as the executive chairman of the company.
Is Trevor Milton married?
Yes, he is married to Chelsey Bergmann. The couple resides in Phoenix, Arizona, and they got married in 2017.
When did he found Nikola Motors?
He founded Nikola Corporation in 2014 in Salt Lake City, Utah.
Why did he resign from Nikola?
He resigned from his position as executive chairman in September 2020 after the U.S. SEC and Department of Justice began investigating claims of securities fraud involving him and Nikola.
What legal issues has he faced?
He was indicted by federal prosecutors on charges of securities fraud and wire fraud in July 2021 and was released on $100 million bail. In October 2022, he was found guilty on three of the four counts.
Has he faced any other serious allegations?
Yes, he has faced sexual misconduct allegations. In September 2020, his cousin accused him of sexually assaulting her in 1999. Additionally, two other women have come forward with accusations of sexual assault against Milton.
What are some of his past business ventures?
Before Nikola, he started an alarm sales company and an online classified ads website for used cars. He also founded dHybrid, Inc., which retrofitted commercial trucks with natural gas engines, and dHybrid Systems, focusing on natural gas and hydrogen storage systems.
- Michael Lohscheller
- Mark Russell
- Stephen J. Girsky
In conclusion, Milton’s net worth story is a captivating blend of triumphs and challenges. As we’ve explored, his journey is not just about numbers but also about the resilience and innovation that define modern entrepreneurship.
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