He is ranked 34th richest in America and 38th most powerful in the world, yes The man himself Elon Musk, founder of SpaceX, Chief product architect of Tesla Motors, chairman of SolarCity, and co-founder of PayPal, and in general an entrepreneur, business magnate, investor and an inventor.
Currently, he contains an estimated net worth of $20.7 billion. After James Clark, he is known to be the second entrepreneur in the Silicon Valley, who made three big companies that contain a market share of more than $1 billion – PayPal, SpaceX, and Tesla Motors. Very few people believe in investing in projects which holds the possibility to change the world, and he is one of them.
He is one of the few people who believe in investing in projects that hold the potential of changing our world. As a matter of fact, Elon personally participates in the designing of electric cars and spaceships at his companies.
Elon has also planned the aim of SolarCity, Tesla Motors, and SpaceX which makes his vision stronger to change the world and humanity. His goals are totally different; he wants to reduce global warming by using sustainable energy production and consumption, desire to reduce the risk of human extinction by making life multi-planetary, by creating a human colony on Mars.
What was budding up as Elon Musk like?
Elon was born on the 28th of June 1971 in South Africa. His mother was a model and dietician, while his father was an electromechanical engineer. In 1980, his parents got divorced. Elon lived mostly with his father. During that phase, he enlarged an interest in computing with the Commodore VIC-20.
After this, he self-learned computer programming and tried to sell the code for a video game to a magazine called PC and Office Technology. During his childhood, Elon was harshly bullied and sometimes hospitalized, when was thrown down a flight of stairs.
After completing his secondary school in Pretoria, he left his home and migrated to the U.S.A. He first moved to Canada to the relatives of his mother in 1989 and managed a Canadian Citizenship and moved to Montreal. He started with low paid jobs and somehow survived at the point of poverty. At the age of 19, he moved to Queens University (Ontario).
Elon finally moved to Stanford University in California in 1995 for doing Ph.D. in applied physics and material science but he left the program after two days so that he can follow his entrepreneurial aspirations in the areas of internet, renewable energy, and outer space.
And this is how the revolution begins!
Voyage of Becoming Elon Musk:
By dropping out of Stanford, Elon and his brother Kimbal rented $28,000 from their father and started a software company called as Zip2 in 1995. At that time internet was emerging and newspapers were trying to figure out how they could make the best use of the new medium. Musk decided to help newspaper publishers and created an online city guide for them.
Later on, the company also won a contract from some big reputed industries, including The New York Times and The Chicago Tribune, and even influenced the board of directors to cancel the plan for a merger with CitySearch. In February 1999, Musk sold Zip2 to Compaq for $304 million in cash and $34 million in stock option. Elon received $22 million for his 7% stake from the sale and with that money, Elon founded another venture called as X.com!
This new venture is all about financial services and email Payment Company, which later on merged with Co infinity – which had a money transfer service called as PayPal.
In 2000, Elon Musk was thrown out from his post as CEO; still, he is on the board. This happened because dissimilarity of other company leadership over the wish of Elon to move PayPal’s Unix-based infrastructure to Microsoft Windows. This is the time when the PayPal’s board fired him and made Peter Thiel the new CEO and eventually, the merged entity renamed as PayPal in 2001.
Apart from all this, in October 2002, PayPal was sold to eBay for $1.5 billion in stock and in that Elon was the largest shareholder, who received US$165 million for his stake. This is not the end destination for Musk, it just a beginning of the long determined projects. One being – Space exploration! Elon always wanted to make, sending people to different planets possible.
It is hard to tell Elon Musk’s inspiring story in one blog, so I will bring you another post soon. Till then, keep reading.