Table of Contents
Table: Trevor Milton Net Worth and Personal Information
| Category | Information |
|---|---|
| Net Worth | $250 million |
| Salary | N/A |
| Birthdate | N/A |
| Birthplace | N/A |
| Gender | Male |
| Height | N/A |
| Profession | Entrepreneur |
| Nationality | American |
What is Trevor Milton’s Net Worth?
Trevor Milton, an American entrepreneur, has a net worth of $250 million. He is best known as the co-founder of Nikola, an electric truck maker. At its peak, Trevor’s net worth was estimated to be nearly $12 billion when Nikola’s market cap reached $30 billion shortly after going public via SPAC (Special Purpose Acquisition Company) in June 2020. However, his net worth significantly decreased following his resignation from the company amid allegations of investor fraud and subsequent legal issues.
Highlights
- Trevor Milton has a net worth of $250 million.
- He co-founded Nikola, an electric truck maker.
- Nikola reached a market cap of $30 billion shortly after going public via SPAC.
- Trevor’s paper net worth was nearly $12 billion at the height of Nikola’s success.
- He resigned from the company in September 2020 due to allegations of investor fraud.
- Trevor was found guilty on three criminal counts, including securities fraud, in October 2022.
- In December 2023, he was sentenced to serve four years in federal prison.
Early Life
Trevor Milton dropped out of college to pursue a career in sales and marketing. He started an alarm sales company before selling it for $300 thousand. Following this, he launched an online used car business and later founded dHybrid, Inc., an alternative energy vehicle company.
Career
In 2015, Trevor Milton founded Nikola Motor Company, initially based in Utah but eventually moving operations to Phoenix. He took the company public through a reverse IPO SPAC merger in June 2020. During this process, Trevor sold $90 million worth of his shares.
Despite Nikola’s lack of revenue and never having produced a single car, the company briefly surpassed the valuation of established automaker Ford, reaching a market cap of nearly $30 billion. Trevor’s net worth reached its peak at around $12 billion during this period. However, by mid-2022, his equity stake in the company had reduced to 20%, making him the largest individual shareholder.
Personal Life
In 2019, Trevor Milton purchased a 2,670-acre ranch in Utah for $32.5 million, setting a record for the most expensive home purchase in the state’s history. The ranch features an 8-bedroom, 17,000 square-foot riverfront mansion and a helipad.
At the height of his success, Trevor bought a $6 million Gulfstream private jet, which he paid for with $6 million worth of his Nikola shares. He later purchased two additional planes.
Net Worth Over Time
Trevor Milton’s net worth has fluctuated significantly throughout his career. At its peak, it reached nearly $12 billion when Nikola’s market cap soared. However, following his resignation from the company and subsequent legal issues, his net worth decreased to $250 million.
Components of Net Worth
Trevor Milton’s net worth primarily consists of his equity holdings in Nikola, which accounted for the majority of his wealth during the company’s successful period. However, after his resignation, he had to forfeit $166 million worth of equity and a consulting contract, reducing his stake in the company. Additionally, he sold at least $300 million worth of shares on the public markets.
Please note that all net worth figures mentioned in this article are estimates based on publicly available information.
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