The success story of Elon Musk is really inspiration. The story of the boy from small town in Africa to Billionaire in indeed motivational, the story of Elon Musk is classic example of how failure turns a huge success when it is backed by dedication and motivation, Elon Musk net worth today is
Elon Musk- Humble Background
Elon Musk was born on June 28, 1971 in Pretoria, South Africa to a South African father and a Canadian mother, Father Errol Musk was an engineer and Mother Maye was a dietetics expert. Maye Expose Elon Musk to the world of Computers and Technology at a very young age.
Elon Musk love towards technology was proved at very young age of 12 years , when he himself developed and launched his first commercial software and it was a video game called Blaster. Elon Musk Sold the game Blaster to a magazine PC and Office Technology. Elon Musk Net worth became $500 at the young age of 12. Elon Musk Spent his entire childhood in South Africa.
Elon Musk Education
Elon Musk completed his primary and secondary education in Pretoria, South Africa . After completing his secondary schooling Elon Musk made a tough decision to leave his home and to move to United States to continue his further studies without any support from his Parents.
It was in 1989, Elon Musk left south Africa and moved to Canada to his relatives house, slowly he obtained Canadian Citizenship and went to Montreal and started to work in low paid jobs for more than an year and led his life in poverty.
Elon Musk joined Queens University in Kingston , Ontario. He studied in Ontario for two years and finally in 1992 his dream came true as he got an opportunity to relocate to the United States to continue his education. He received scholarship from The University of Pennsylvania where he earned his Bachelor of Science degree in Physics, he further continued his education at The Wharton School of the University of Pennsylvania and earned a Bachelor of Science degree in Economics.
In 1995 after graduating from University of Pennsylvania in Economics, Elon Musk decided to join Stanford University to do advanced studies in the field of applied physics and materials science but he left the course just after 2 days.
Elon Musk after leaving university of Stanford University joined his brother Kimbal Musk and started his first IT company Zip2. Elon Musk used start his work early in the morning and used to work up to late in the evening and sometimes he used to work for entire night as lived in the same warehouse where he rent the office and he used to go to locker rooms of nearby stadium whenever he wanted to take a shower. The company dealt with Internet “city guide” for the newspaper publishing industry, Elon Musk created a platform where newspapers like New York Times which could offer their customers an additional commercial services.
Zip2 – Startup by Elon Musk
It was in 1999, when zip2 was at its peak, then biggest search engine AltaVista bought Zip2 for $307 million in cash and $34 million in securities, this was when Elon Musk net worth increased to $22 Million.
In 1999, Digital payment trend was gaining huge importance , understanding the growth and trend in the sector Elon Musk started to work on electronic payment systems and cofounded a company called X.com by investing around $10 million.
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The main idea of X.com was to provide financial services and e-mail Payment but by March 2000, X.com merged with Confinity which was a major competitor for X.com and was owned by Peter Thiel and Max Levchin. The name of the company X.com was renamed as Paypal. In 2002, eBay bought PayPal for $1.5 billion. Elon Musk Net worth increased by another $180 million for his 11.7% PayPal shares he owned.
In 2003, engineers Martin Eberhard and Marc Tarpenning founded a electric vehicles manufacturing company called Tesla Motors. The company dreamed to free the customers from oil burden and to optimize the use of alternate fuel. Elon Musk after leaving PayPal decided to invest his money in alternate fuels and found Tesla Motors interesting.
Elon Musk and Tesla
Elon Musk joined Tesla Motors in 2004 and invested around $70 million, he became the chairman of the board of directors, Elon Musk spent initial time in Tesla motors in Designing the first electrical car called Tesla Roadster sports car based on the British Lotus Elise.
Elon Musk contribution was on weight reduction through use of carbon fiber composite materials, he also played key role in designing battery module and headlights. Tesla motors became a huge hit than their expectations and attracted investments from Larry Page and Sergey Brin.
On June 29, 2010, Tesla Motors started its initial public offering (IPO). Tesla was next to ford to enter stock market in history of US, though Tesla Motors was in loss for 10 years got listed in NASDAQ with $17/stock and attracted investment of around $225 million.
SpaceX- Elon Musk Net worth
Elon Musk thought of creating a space exploration technologies as he was inspired by the concept of colonizing mars and decided to start a firm which reduces space transportation costs to enable people to colonize Mars
SpaceX a space exploration technologies corporation was founded in 2002 and is headquartered in Hawthorne, California, USA. In March 2006, Elon Musk invested around $100 million in SpaceX. The aim of the startup was to create automated greenhouses through self-sustaining ecosystem which would be in demand in Mars.
Elon Musk met Russian Federation to order launch vehicles to test their project but the prices per launch vehicle ranged from $15 million in Russian Federation to $65 million in United states and Elon Musk thought it was huge for a startup company to invest so much on Launch vehicles.
Musk came up with an idea to design his own reusable launch vehicles and spaceships and he launched SpaceX’s Falcon 1 rocket in the year 2008 and it was the first privately-funded liquid-fuelled vehicle to put a satellite into Earth orbit.
By August 2008 SpaceX had launched three rockets to Orbit but all failed and this made Elon Musk almost bankrupt soon the vessels of SpaceX launched successfully and reused, by 2030 Elon Musk plans to transport tourists to Mars at low cost.
Solar city – Elon Musk Net Worth
Elon Musk also founded a company called solar city which is into manufacturing and installing solar panels, the company is run by his cousins Lyndon and Peter Rive. SolarCity’s stock rose 600% from its IPO price of $8 per share in December 2012 to its current price of $20 and lifetime high of $60/ share. Musk owns 20,681,485 shares of the company’s stock. The solar-power company sports a $2.05 billion market cap, so it adds almost $1.6 billion to Musk’s net worth
Hyperloop- Elon Musk Net Worth
In 2013 Elon musk integrated tech experts from SpaceX and Tesla Motors and decided to bring revolutionary change in the field of transportation. He came up with the innovative concept called Hyperloop. Hyperloop is a proposed future system of transport which uses pods/containers which travel at high speeds through a tube that has been pumped into a near-vacuum.
The system works on magnetic levitation technology . The system works with minimal friction inside the tunnel, the tubes are surrounded by a cushion of air which drastically reduces friction, the pods/containers will travel at immense speeds with a projected top speeds of 760mph.
Elon Musk thinks that Hyperloop is best great alternative to high-speed railroad. The hyperloop system will works on solar panels mounted on the track. The motors and electronics required for the project will be supplied by Tesla Motors, the engineers from SolarCity can help with the solar panels, and SpaceX can share the materials which they have tested.
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Elon Musk and The Boring Company
Elon Musk also planning for underground transportation , he started a company called The boring Company, it plans to dig down and create a network of tunnels through which motorists can drive in order to avoid traffic. The firm has started digging a test tunnel on the SpaceX premises, but has yet to apply for permission to dig under publicly-owned areas.
Elon Musk Personal Life
Elon Musk married his friend in Canada Justine Musk, the couple married in 2002 and gave birth to five sons Damian, Griffin, Xavier, Saxon, and Kai. The couple divorced in 2010 . He again married to a British actress Talulah Riley with whom he lived for 4 years and divorced in 2016.
Elon Musk Net Worth
Elon Musk net worth is dependent on his shares in Tesla , Elon musk owns 30% shares in Tesla Motots, Inc. (TSLA) which is trading at $355 per share and has market cap of $ 58.63 Billion. Elon Musk’s net worth today is $21 Billion and he is among top 100 richest in world.
Elon Musk contribution towards the world in advancement of technology is appreciable. Elon Net worth is increasing because of his hard work and his learning from failures. Elon Musk also sold the technology to major car companies like Daimler, Mercedes-Benz and Toyota for use in their vehicles.
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