'Couldn't afford a second suit...': Maye Musk reacts to Elon Musk's throwback pic from 1990

While Elon Musk is now associated with immense wealth, his frugality remains notable. (Image: @cb_doge/X)

Maye Musk, the mother of entrepreneur Elon Musk, has shared a poignant throwback photograph from 1990, shedding light on her family’s modest life during their early years in Toronto. The image captures a young Elon dressed in a $99 black suit, paired with a white shirt, tie, and socks—a purchase that became his only professional attire while working at a bank.

“This photo was taken in our rent-controlled apartment in Toronto, with my mom's painting on the wall,” Maye wrote in her post. She added, “The suit cost $99, which included a free shirt, tie, and socks. A great bargain! He wore this suit every day to his bank job. I couldn’t afford a second suit. We were happy.”

Reflecting on the family’s financial struggles, Maye described how she managed to raise her children on a tight budget. In her memoir, "A Woman Makes a Plan - Advice for a Lifetime of Adventure, Beauty, and Success", she recounted feeding them peanut butter sandwiches and buying second-hand clothes. “We couldn’t afford to go out and eat. My kids loved it! They didn’t know they were deprived,” she wrote.

This photo was taken in our rent-controlled apartment in Toronto, with my moms painting on the wall. The suit cost $99 which included a free shirt, tie and socks. A great bargain! He wore this suit every day to his bank job in Toronto. I couldnt afford a second suit. We were https://t.co/jh2SHOXwpe
Maye Musk (@mayemusk) December 12, 2024

Despite their modest means, Maye instilled a sense of contentment and resilience in her children. She fondly recalled memories of sleeping on mattresses, couches, or even the floor during tough times, with her children embracing these circumstances without complaint.

While Elon Musk is now associated with immense wealth, his frugality remains notable. In 2020, he sold most of his possessions, including his home, declaring on X, “I am selling almost all physical possessions. Will own no house.” Similarly, his former partner Grimes revealed in a 2022 interview that Elon once suggested replacing their mattress with one from her house when theirs developed a hole.

Maye, who worked tirelessly to provide for her family, expressed pride in her son’s intellectual accomplishments. “I don’t like the word ‘wealthy’ or ‘billionaire’ because I think it is degrading. I think he’s the genius of the world,” she said in an interview.