Elon Musk is an entrepreneur who is driven by a purpose – a vision that extends beyond himself.
Elon Musk is the charismatic chief executive officer (CEO) of electric car maker Tesla and rocket manufacturer SpaceX. Following a contested process, Musk completed a deal to buy Twitter in October 2022, becoming the owner of the social media company.
Quick Details about Elon Musk:
|Elon Reeve Musk
|Entrepreneur Investor Technician Film Producer Technologist
|Date of Birth
|28th June 1971
|51 (as of 2022)
|Pretoria, South Africa
|Pretoria Boys High School
|Queen’s University (1990-1992) University of Pennsylvania (1992-1995) Stanford University (1995-1995)
|Justine Wilson (m. 2000; div. 2008) Talulah Riley (m. 2010; div. 2016)
|Errol Musk Maye Musk
Family of Musk
Elon Reeve Musk was born in 1971 in Pretoria, South Africa, the oldest of three children. His father was a South African engineer, and his mother was a Canadian model and nutritionist. After his parents divorced in 1980, Musk lived primarily with his father.
Education of Musk
Musk attended the private Schooland later graduated from Pretoria Boys High School. A self-described bookworm, he made few friends in those places.
Technology became an escape for Musk. At 10, he became acquainted with programming using a Commodore VIC-20, an early and relatively inexpensive home computer. Before long, Musk had become proficient enough to create Blastar—a video game in the style of Space Invaders. He sold the BASIC code for the game to a PC magazine for $500.
At 17, Musk moved to Canada. He would later obtain Canadian citizenship through his mother.After emigrating to Canada, Musk enrolled at Queen’s University in Kingston, Ontario. It was there that he met Justine Wilson, an aspiring writer. They would marry and have five sons together, twins and triplets, before divorcing in 2008.
After two years, Musk transferred to the University of Pennsylvania. Musk graduated with a bachelor of science degree in physics, in addition to a bachelor of arts in economics from the Wharton School. physics left the deepest impression.
Musk was 24 years old when he moved to California to pursue a Ph.D. in applied physics at Stanford University. But, with the internet exploding and Silicon Valley booming, Musk had entrepreneurial visions dancing in his head. He left the Ph.D. program after just two days.
In 1995, with $15,000 and his younger brother Kimbal at his side, Musk started Zip2, a web software company that would help newspapers develop online city guides.In 1999, Zip2 was acquired by Compaq Computer Corp. for $341 million.
X.com and PayPal
Musk used his Zip2 buyout money to create X.com, a fintech venture before that term was in wide circulation.X.com merged with a money transfer firm called Confinity, and the resulting company came to be known as PayPal.Peter Thiel ousted Musk as PayPal CEO before eBay (EBAY) bought the payments company for $1.5 billion, but Musk still profited from the buyout via his 11.7% PayPal stake. His proceeds from PayPal after tax were about $180 million. Out of which $100 million went into SpaceX, $70 million into Tesla, and $10 million into SolarCity. And I literally had to borrow money for rent.
Tesla and SolarCity
Musk became involved with the electric cars venture as an early investor in 2004, ultimately contributing about $6.3 million, to begin with, and joined the team, including engineer Martin Eberhard, to help run a company then known as Tesla Motors. Following a series of disagreements, Eberhard was ousted in 2007, and an interim CEO was hired until Musk assumed control as CEO and product architect. Under his watch, Tesla has become the world’s most valuable automaker.
In addition to producing electric vehicles, Tesla maintains a robust presence in the solar energy space, thanks to its acquisition of SolarCity.The company currently produces two rechargeable solar batteries. The smaller Powerwall was developed for home backup power and off-the-grid use, while the larger Powerpack is intended for commercial or electric utility grid use.
Musk used most of the proceeds from his PayPal stake to found Space Exploration Technologies Corp., the rocket’s developer commonly known as SpaceX. By his own account, Musk spent $100 million to found SpaceX in 2002.Under Musk’s leadership, SpaceX landed several high-profile contracts with the U.S. National Aeronautics and Space Administration (NASA) and the U.S. Air Force to design space launch rockets.Musk has publicized plans to send an astronaut to Mars by 2025 in a collaborative effort with NASA.
A frequent poster on the messaging network, Musk disclosed a 9.2% stake in Twitter in April 2022. Twitter responded by offering Musk a seat on the board, which he accepted before declining days later. Musk then sent a bear hug letter to Twitter’s board proposing to buy the company at $54.20 per share.
Twitter’s board adopted a poison pill provision to discourage Musk from accumulating an even larger stake, but they ultimately accepted Musk’s offer after he disclosed $46.5 billion in committed financing for the deal in a securities filing. In July 2022, Musk attempted to cancel the deal, arguing that Twitter had failed to provide certain information regarding fake accounts. The company sued Musk to require him to complete the deal.
After months of legal wrangling, the billionaire’s plan to buy the social media platform came to fruition, and Musk took control of Twitter on Oct. 28, 2022.
Inspirational quotes from Elon Musk
- “When something is important enough, you do it even if the odds are not in your favor.”
- “If you get up in the morning and think the future is going to be better, it is a bright day. Otherwise, it’s not.”
- “When Henry Ford made cheap, reliable cars, people said, ‘Nah, what’s wrong with a horse?’ That was a huge bet he made, and it worked.”
- “Persistence is very important. You should not give up unless you are forced to give up.”
- “It’s OK to have your eggs in one basket as long as you control what happens to that basket.”
- “We’re going to make it happen. As God is my bloody witness, I’m hell-bent on making it work.”
- “The first step is to establish that something is possible; then probability will occur.”
- “I think it is possible for ordinary people to choose to be extraordinary.”
- “I could either watch it happen or be a part of it.”
Interesting facts about Elon Musk
- He invented a game when he was 12 named Blaster
- Musk almost sold Tesla to Google for $11 billion in 2013
- His first startup was Zip2
- Musk dropped out of Stanford after just 2 days
- Musk made a cameo on ‘The Simpsons’, The Big Bang Theory
- Musk bought James Bond’s submarine car for close to $1 million
- Musk ran a nightclub to pay rent
- Musk was Robert Downey Jr’s inspiration for Tony Stark
- Musk started a school to teach his kids
Musk’s early interests in philosophy, science fiction, and fantasy novels are reflected in his idealism and concern with human progress—and in his business career. He works in fields he has identified as crucial to humanity’s future, notably the transition to renewable energy sources, space exploration, and the internet. Musk has defied critics, disrupted industries, and made the most money anyone ever has from PayPal, Tesla Motors, SolarCity, and SpaceX—game changers all, despite the inevitable missteps. With his recent takeover of Twitter, Musk promises to continue his role in shaping the technological future.
Is Elon Musk Married?
Elon Musk has been divorced 3 times—twice from his second wife, Talulah Riley.From 2018 to 2022, he had been in a relationship with Canadian singer/songwriter Claire EliseBoucher, with whom he had a son in 2020 and a daughter in 2022. They remain best friends.He also has 5 sons from his 1st marriage to Justine Musk.
How Rich Is Elon Musk?
Elon Musk’s net worth was estimated at $212 billion as of October 2022, making him the wealthiest human on the planet.
Was Elon Musk Born Rich?
No, Elon Musk was born into a middle-class family. In 1995, when he founded X.com, he reportedly had more than $100,000 in student debt and struggled to pay rent.
What Does Elon Musk Do at Tesla?
Elon Musk is officially listed as the co-founder and chief executive officer (CEO) of Tesla on the company’s website.47 In a 2021 securities filing, the company disclosed an additional Musk title as “Technoking of Tesla.”
What Companies Does Elon Musk Own?
Elon Musk is a large stakeholder in several companies, including Tesla, SpaceX, The Boring Co., Neuralink, and Twitter.