How much will Elon Musk earn from 'SNL'? Dogecoin prices and Tesla stocks spike as billionaire set to host show

Musk teased the action with a photo of himself and the two other 'SNL' guest stars — The Kid Laroi and Miley Cyrus — with Dogecoin's mascot, a Shibu Ina, photoshopped in


                            How much will Elon Musk earn from 'SNL'? Dogecoin prices and Tesla stocks spike as billionaire set to host show
Elon Musk is set to host 'Saturday Night Live' in the May 8 episode (Getty Images)

Elon Musk is set to host 'Saturday Night Live' in the May 8 episode. Last month, 'SNL' asked Musk, the CEO of electric car company Tesla and rocket company SpaceX, to host an episode of the long-running comedy show, breaking from its tradition of inviting celebrities from the entertainment industry.

Musk will perform alongside Miley Cyrus, the night's musical guest, despite reports that some cast members are upset that the world's third-richest man, with a net worth of $166 billion, will be able to outgun celebrities and other pop culture figures. Here's what's to know about how much money the billionaire is set to make for this episode.

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How much will Elon Musk earn from 'SNL'?

Awaiting Musk's appearance, the stock rates for his company Tesla have gone up +1.33%, according to Marketwatch. Musk is far from the only 'SNL' host who does not come from a celebrity family. NBC's famous sketch show has seen a slew of athletes, including Ronda Rousey, Tom Brady, Charles Barkley, and Jeff Gordon, host episodes despite having no prior experience in the entertainment industry, reports Fox Business.

According to Cheatsheet, musician Justin Timberlake once told Entertainment Tonight that he made $5,000 as a host."...it’s a great opportunity for an entertainer like myself to.. it’s the best minimum… It’s the best five grand you can make on television. It’s awesome," he had said.

According to Celebrity Net Worth, cast members earn $7,000 per episode in their first year. With 21 episodes a season, this equates to a salary of $147,000. A cast member's salary is raised to $8,000 per episode or $168,000 per season in their second year. If an 'SNL' regular makes it to Season 5, they will be paid $15,000 per episode, or $315,000 per season. People who have worked at 'SNL' for the longest or who are the most important to the show earn the highest pay, the website added.

But it isn't just Tesla or his cut from 'SNL' that's under the spotlight. Musk teased the action with a photo of himself and the two other 'SNL' guest stars — The Kid Laroi and Miley Cyrus — with Dogecoin's mascot, a Shibu Ina, photoshopped in on early Friday evening, Bloomberg reported. Dogecoin traders are also setting up watch parties for “Saturday Night Live,” with their apps open in case Musk’s comments move prices of the cryptocurrency. “A lot of this depends on what Elon Musk does, what he says,” Bloomberge quoted Alma Cortez, 28, of Fresno, California as saying. “Everyone is going to be on their phones, but at the same time trying to pay attention to see what’s moving, because you don’t want to lose.”

The cryptocurrency's price soared to an all-time high of over 72 cents shortly after, until dropping slightly. The recent spike in cryptocurrency volatility has triggered urgent warnings from central bankers that people buying in should be prepared to lose all of their money.

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