How Elon Musk Got Rich

The question of how Elon Musk got rich is not so much of a mystery.

Elon is currently the richest person in the world with a current net worth of $220.2billion.

His net worth could be enough to buy over 4,868,333 Tesla Model 3 cars!

This is a pretty high figure, but his fortune is constantly fluctuating.

As a pre-teen, Musk wrote a PC game that was a flop. He wrote the game with his father, Tom Junod. “I never got paid to play games,” says Elon Musk.

However, he later made more than a million dollars. Today, Musk earns a fortune every day from his companies Tesla, and SpaceX.

After studying physics and economics at the University of Pennsylvania, Musk started his own company Zip2 in 1995 with his brother Kimbal.

It took him two years to create Zip2 – an online business directory backed by maps.

His Zip2 business directory was an online business directory, similar to a yellow-pages-like website.

It became a hit, as it was the first mobile application for online newspapers, that the founder even lived in the office while building the company.

It was a huge success, and he later sold it to computer manufacturer Compaq for $307million.

elon musk

Musk went on to found another online financial service company, X.Com, at the time, Confinity was working on a security software project, and PayPal was one of the products.

These two companies, X.Com and Confinity, who were competitors of sorts, merged a few months later and used the X.com name.

This merger led to the billionaire being labeled as ‘co-founder’ of the payments company PayPal.

In 2001, PayPal was sold to eBay for $1.5 billion, and Elon got something around $180M for his shares.

The following year, 2002, he founded SpaceX (Space Exploration Technologies), which he still runs today, with the purpose of making more affordable rockets.

spacex

 

Two years later, he became one of the major funders of Tesla Motors, later renamed Tesla.

tesla

Initially, Elon Musk landed a summer internship at Bank of Nova Scotia by cold calling a top executive at the company for lunch.

This executive, Peter Nicholson, would later become Musk’s mentor. He offered him the internship, which paid $14 an hour.

This job earned him his first million dollars and his first real internship.

In 1992, Musk graduated from college and transferred to the University of Pennsylvania.

He and a friend moved into a 10-bedroom frat house, where they studied during the week and turned it into an unlicensed speakeasy on the weekends.

The house was decorated with bright red paint and black trash bags, and they covered the windows to make it look like an upscale speakeasy.

However, Musk never drank alcohol, his alcoholic friends did not notice him and he remained sober for all his social activities.

Despite having an extremely successful business career, Elon Musk’s wealth has been earned through hard work.

elon musk

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Originally from South Africa, Elon Musk studied at Queens College.

He moved to Canada at 17 to avoid military service in South Africa. He moved to the US in 1995 to attend Stanford University.

He was accepted there but dropped out after two days because he saw more opportunities in the Internet than in physics.

He then went on to start his first company, Zip2, and eventually became an internet billionaire. By 2004, he was already a millionaire.

He now has the largest net worth in the world. His companies include SpaceX and Tesla. He has an unrelenting schedule, starting early at 5 in the morning and working until 11 pm.

While many people have a flexible work schedule, Elon Musk doesn’t. His work is so demanding that he sleeps in his SpaceX factory.

elon musk story

In February, he reportedly surpassed Jeff Bezos as the richest person in the world.

His wealth is now more than three times the annual GDP of Luxembourg, Chile, and Vietnam.

If he had his way, he could buy any team he wants.

You can watch this video by Insider News showing Elon Musk’s wealth compared to everything.

In fact, his earnings are so large that he could start an airline of his own.

So the simple way to describe how Elon Musk got rich is this;

Elon Musk’s wealth is built on his company’s shares. He owns a huge percentage of Tesla’s stock and was a huge investor in Hertz when he arrived in the United States.

You can also watch this video by Forbes describing how Elon Musk got $126 Billion richer in a single year.

 

How much does Elon make a day?

According to some sources, Elon Musk’s income is estimated to be around $10 million per day.

 

How to be like Elon Musk?

elon musk

1. Take Risks

If you want to be like Elon Musk, you have to be willing to take more risks than most people. After all, he has made billions of dollars by taking big risks.

But he is a perfectionist and is willing to face criticism.

And while it is easy to see that he works for the betterment of mankind, he is prone to failures.

To avoid these pitfalls, you should adopt the first principle.

NBThis principle states that a good idea is already being developed, but it takes time to turn it into a business.

 

2. Look for new opportunities

It is important to challenge the status quo and look for new opportunities.

Just as you would learn the alphabet before you could write a sentence, you must build up your knowledge first.

This will ensure that you do not make dumb mistakes.

Moreover, you need to know what is not yet known and what is not used.

By following these tips, you can achieve the goals you have set for yourself.

But before you can become a successful businessman, you must learn the alphabet of business.

 

3. It is important to focus on one goal at a time.

If you have a lot of work to do, you should be prepared to deal with many tasks.

You should be proactive instead of reactive.

4. You should be curious.

It is a great way to increase your motivation. It’s also a good idea to read books and follow mentors.

It is important to make a plan and then work hard to reach it.

There are some great books on how to become like Elon Musk.

These books can help you build a plan to achieve your dreams.

You can read about his career in Rolling Stone and the Daily Telegraph.

The articles by Jeff Grubb and Neil Strauss are very useful for aspiring entrepreneurs.

You can learn a lot from the experts and become a part of history.

There are also many inspiring stories about Elon Musk on the internet.

 

5. Becoming an entrepreneur is the key to achieving success.

While it may seem intimidating to be the easiest way to become a successful entrepreneur, it is a great way to stand out in your field.

Remember, a lionhearted leader can do anything.

So if you have ambition, you can do anything.

This entails thinking big. If you aspire to be like Elon Musk, you can become more successful by following his example.

You can become an entrepreneur by following in his footsteps.

You can follow the billionaire’s path. Just try to do your own thing.

The secret is to have a passion for it. If you are passionate about your business, you’ll be successful.

You should be willing to learn as much as you can about the things that interest you.

If you’re a true entrepreneur, you will be able to use all of your resources to make a great living.

 

6. Be open to learning and developing your skills.

You can become an inventor by studying physics, a computer programmer, or even a rocket scientist.

The key is to be willing to take risks. As long as you’re willing to try it, you’ll be able to achieve your goals.

So, if you’re interested in becoming an entrepreneur, you can follow Elon Musk’s path.

 

7. One other thing you need to learn is how to be a leader.

A person who is passionate and determined will be successful.

If he is a great leader, he will be successful in every endeavor. If you’re an entrepreneur, you can also be an inspiration to others.

A visionary leader is a great motivator. A confident, ambitious person will succeed in any venture.

 

8. You should be passionate about your idea.

It’s crucial to have a vision. You should be passionate about it and be a leader in your industry.

As an entrepreneur, you must be passionate about your ideas and be willing to work hard.

You should be persistent and dedicated to your work.

It is not easy to become an entrepreneur if you’re not committed to it.

Aspire to be an innovator.

So I hope you found this blog post on how Elon Musk got rich helpful.

Now I would like to hear from you.

What are your thoughts on Elon Musk’s wealth?

Let me know in the comment section below.

Also share this blog post with your friends and family.

 

I love everything about saving, investing, earning, and building net worth.

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