Founder of Paypal, Tesla, and SpaceX: Elon Musk

Elon Musk, Business visionary, technology entrepreneur, investor, 21st-century engineer Elon Musk. He was Born on June 28, 1971, and is South African born American entrepreneur. He co-founded Paypal, Tesla, and SpaceX.

Elon Musk pushed all his potential to make multinational company technologies inventions. His efforts are changing the way of technology in Space and Energy field.

Elon is a part of Hyperloop, which is developing a highspeed transportation system. He is the co-founder of OpenAI. It is a nonprofit Artificial Intelligence Company.

Most of the time he says, he won’t be happy until people have escaped Earth and settled at Mars. Space Rockets, electric cars, solar products, advanced robotics and many more have made his way of changing billion of lives.

Elon Musk is the 2nd Entrepreneur in Silicon Valley with a market cap of $1 billion with Paypal, Tesla, and SpaceX. His qualities have brought him this long. His qualities are dedication, critical think, self-analysis, and his hard work. He works 80-100 hours per week.

Early Life

Elon Musk was born to a South African Father and Canadian Mother. He has shown an early talent toward computers and entrepreneurship. When he was 12, he created a video game. He later sold his game to a magazine.

Musk spent his childhood in South Africa. At the age of 9, he got his first personal computer called Commodore VIC-20. Elon did get interested in programming and start to lean it by himself. In 1989, Elon Musk moved to Canada to the relatives of his mother’s. he obtained Canadian citizenship. Elon went to Montreal. He used to work in low paid jobs. It was almost a year, he was teetering on the brink of poverty.

When Elon musk was in struggle with adolescent depression. He began actively to be absorbed in philosophical and religious literature. It was the most valuable lessons. He eventually learned from Douglas Adam’s Book. it was named the Hitchhiker’s Guide to the Galaxy.

Musk figured out that humanity had to expand the limits of consciousness. So it learns to ask the right questions. Elon Found his question about the things which would have a great impact on the future of humanity’s destiny? Elon Musk decided it would be internet, the transition to renewable energy sources and space colonization. He wanted to work in all three and contribute. He needs funds to do.

Entrepreneur Journey

Elon musk attended Queen’s University in Ontario and in the year of 1992 he transferred to the University of Pennsylvania, Philadelphia. After he left Penn. Elon musk headed to Stanford University to Pursue a Ph.D. in energy physics. It was a perfect time with the internet boom. He dropped out Stanford after two days. He got his Bachelors degree in Physics and economics in the year of 1995. In the same year, he founded Zip2.

 it is a company which provides maps and business directories to the online newspapers. Later, in the year of 1991, A computer manufacturer Compaq bought Zip2 for $307 million. He was the founder of an online financial services company called X.com. It got later changed to Paypal.

Paypal

In 1999, Elon Musk started to work on online electronic payments. He started his new venture X.com. It merged with Coninity Inc. it was running by Peter the and Max in the year 2000. After the merger, in 2001, X.com was renamed as PayPal. Elon Musk became Chairman and CEO of Paypal.

In 2002, E-commerce giant eBay acquired Paypal for $1.5 billion. Elon received $180 million has his share. He got sufficient funds to pursue his passion in the field of Space Engineering and Energy Fields.

Tesla Motors

Elon Musk had a great Interest in the subject of exploring electric cars. Tesla Motors was founded by Martin Eberhard and Marc, engineers by profession. In the year 2003. It was the manufacturer of Electric vehicles and Elon Musk supported all such projects.

In the year 2004, Elon contributed $70 million. He became one of the Board of Directors. Musk led in the design of the Tesla Roadster sports car. In 2006, his project got completed and Elon received the Global Green Award for Tesla Roadster car. Tesla started to grow with investor Google’s Founder Larry Page.

When Tesla roadster was about to start its production, bad luck started for Elon. Due to failures in management in pricing calculations of Tesla Roadster, the release of the car has been postponed for another year.

During this bad time, Elon showed his skills and he fired everyone who was responsible for the failure of the Roadster Project. He even fired Eberhard. Elon headed the company on his own and in 2007 Zeev Drori was assigned as CEO of Tesla Motors. Due to low performance, Drori Dropped as Vice Chairman, Elon became CEO and Drori left the company Tesla Motors in the year 2008.

With all the crisis. Elon continued with cost cuttings, He reduced staff, demand for low rates from suppliers. He even closed a few offices. Finally, Tesla Roadster was on the road in 2008.

In these difficult times, Elon got divorced. It did not get public. Musk received $120 million as the fund from Dell to save Tesla from Bankruptcies. In 2010, Tesla motors started its first IPO and got listed on NASDAQ with 17$ per one stock and attracted $225 million as investments. In 2015, one stock value of Tesla Motors has become %221 and Elon Musk owns 30% of the shares.

SpaceX

SpaceX was founded in 2002. It was in the USA with ambitious Idea of reducing space transformation cost from Earth to Mars. in 2006, Elon received $ 100 million and collaborated with the Russian Federation to launch such vehicles. Musk soon founded the problem in the space industry that large corporation efforts.

he efforted to prevent the new players in the market. In the year 2008, his Paypal partners invested a huge amount in SpaceX. Also, in later time SpaceX got few other investments. Elon Musk owns 66% of shares in SpaceX.

 SpaceX started working on Falcon which took around 4 years to design. In the period of 2006-08, three attempts got failed and in 2008 Falcon finally reached the orbit. If the fourth attempt has failed, SpaceX would have lost. NASA impressed with SpaceX dedication. Nasa signed 1.6$ billion contracts to fly American Astronauts from the earth. According to Musk, Science fiction should be affordable. Mars colonization should soon become a reality in space Industry.

The incredible life of Elon Musk is a great example for various entrepreneurs. He is a man who has accomplished his childhood dream of conquering space. Soon, colonization of marks will become a reality. All credits go to SpaceX’s Innovations in the Space Industry.

Interplanetary Trasport System

With ITS raptor was developed. It has the capability of carrying 100 passengers with luggage. Elon has the plan to take 1 Million humans with 10k trips (100 people per trip). It can be implemented in 40 to 100 years as per Elon Musk.

A trip from Earth to Mars takes 80 days.Musk intends to reduce the journey time to 30 days in the distant future.  It faces the biggest challenge of reducing cost per flight. It is based on a new model where per passenger cost is beyond $200,000.

Elon Musk anticipates if all things go well, the first crew flight may happen in the next 10 years.

Hyperloop

Elon Musk is the perfectionist who keeps demanding and innovator in the high tech industry. His education is in the field of Physics and economics. It helps him to see the objective truth. It separates it from the emotional and speculative forecasts. He always thinks big. A bright example would be the concept of fifth mode of transport named Hyperloop.

Hyperloop would be two times faster than an airplane. It will not be limited to any schedule. Elon Musk wanted to share the Hyperloop concept with Governor of California and US president. To build efficient transportation in the near future. Musk thinks hyperloop can be a great alternative to the high-speed railroad.

Elon Musk: NetWorth

As of in December 2017, his net worth is $20.2 billion according to Forbes. He earned his first billion dollars with the sale of Paypal in 2002. Elon’s company SpaceX is valued more than $20 billion.

Elon Musk’s Non-Profit

It has the boundless potential of space exploration and the preservation o the future of the human race has become the cornerstone of Musk’s abiding interests. Elon has founded the Musk foundation. It is dedicated to space exploration and the discovery of renewable and clean energy sources.

Conclusion

Elon Musk is the most Successful Entrepreneur. He brought most advanced valuable technologies in space and Energy Industry. All his stories show his success. During his tough times also, he was patient, hardworking and critical decisions and faith in his talents. It has inspired many young aspiring entrepreneurs exploring Musk Biography for all new life discoveries.