Elon Reeve Musk is the Iron man of today’s technology world. Elon Musk is the wealthiest person according to the Forbes real-time billionaire list with a net worth of $243 billion. He was born in South Africa, He moved to California to attend Stanford University but decided to start a business and with his brother Kimble, he started a web software company zip2.
Elon Zip2 Project:
Elon Musk started his business career with the web software company Zip2 with his brothers. According to Musk’s speech at USC in 2014, the first project of Zip2 was an Internet city guide. Firstly main focus of this Internet city guide is for the newspaper industry with maps and directions. Soon Musk’s brother caught the light of big newspaper giants like The New York Times and Chicago Tribune. Secondly and most importantly they were able to get contracts for these newspaper giants and made their way up to the top. According to Wikipedia Zip2 was sold to Compaq in 1999 for $307 million in cash.
Elon Musk X.com & PayPal Project:
With Elon’s 7% share in zip2, he co-founded an email payment and online financial service company X.com. In the first few months, it caught the attention of 200,000 customers. Confinity has its own money transfer service which is widely used and more popular and user-friendly than X.com. In 2001 x.com’s name is changed to PayPal and the whole merger focused on PayPal services only. In 2002 eBay proposed to buy PayPal, which was approved by 80% board of directors and sold for $1.5 billion in stock. As Elon Musk has sentimental value for domain X.com he rebought it from PayPal in 2017.
Elon Musk Space X Project:
Elon Musk is a man of evolution. He always believed in evolving the world into a better place for humanity, with this approach in mind Musk started taking interest in a nonprofit organization known as Mars Society. Firstly, he laid out a plan for this project and decided to fund the whole project by himself. From Oct 2001 to February 2002 he visited Russia twice in the hope to buy refurbished Intercontinental ballistic missiles (ICBMs) that have the power to send his greenhouse materials into space, but he came empty-handed twice from Russia. Secondly, he founded Space X in 2002 from the $100 billion fortune he got from eBay.
From 2006 to 2008 SpaceX faced multiple failed launches of rockets, which caused a lot of stress for Musk. In mid-2008 Space X rocket, Falcon 1 was successfully launched into orbit, making it the first private liquid fuel rocket to do so. With this successful launch, SpaceX became the headline in the aerospace world and attracted heavy contracts from NASA.
Tesla motors is founded in 2003 and later in 2004 attracted Elon Musk’s attention. Elon invested $6.5 million into this business and Joined Tesla’s board of directors as chairman. Moreover, In 2008 Musk became CEO and product architect at Tesla. The same year tesla launched its first electric sports car “the Roadster” which has a record of selling 2500 units. Other car models of Tesla include Sedan Model S, a cross-over Model X, Sedan Model 3, Model Y Cross-over and cyber truck. Under Musk’s great leadership tesla constructed multiple lithium-ion batteries and electric vehicles sub-assembly in Nevada and China. According to Wikipedia Tesla became the 6th company in the US to reach a market capitalization of $1 Trillion.
Other Line of Business:
Firstly, In 2006 Musk co-founded a Solar energy generation system named” Solar City”. The solar city was the 2nd largest provider of solar power systems in the United States. In 2016 tesla merged Solar City with its battery energy storage products to make Tesla Energy.
Secondly. In 2016, Musk co-founded a Neurotechnology startup company to enhance the human brain with Artificial intelligence and called it Neuralink.
Thirdly, In 2016 Musk founded a Boring company to make tunnels. Musk Boring company has made 2 tunnels in las Vegas for loop travel.
Image source: https://www.inc.com/magazine/20101001/elon-musks-guide-to-the-galaxy.html
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