Heard, 31, – who infamously accused former husband Johnny Depp, 54, of beating her up – is reportedly devastated about the split.
Musk had been infatuated with the blonde actress for years before they started dating.
However, the tech guru, ended their year-long relationship amid rumors that he heard about the star that made him feel uncomfortable.
A source revealed: "He ended it a week ago. He'd heard certain things about her behavior that didn't sit well with him.
"Amber can be very manipulative and selfish. Elon's back in LA while she's licking her wounds in Australia."
The pair dated for over a year after Musk, 46, divorced British actress Talulah Riley for a second time last year.
Heard reportedly like the stability of the business guru after her toxic marriage to actor Depp.
The pair had been spotted in Australia when she was shooting Aquaman back in April but their relationship has soured since then.
Musk is reportedly worth $12 billion through founding the online service PayPal – he created the Tesla electric car brand and Private space company SpaceX also.
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