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How did Elon Musk become a millionaire?

January 9, 2023 | 3:17 pm

Elon Musk, owner of Tesla, SpaceX and now Twitter, is one of the world’s richest men, a fortune he owes as much to the performance of his companies as to past transactions and, according to reports, to family wealth.

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Emerald Cradle?

Elon Musk is the son of erol muskA South African engineer who bought a stake in an emerald mine in the 1980s zambiaAccording to Business Insider, that allowed him to receive copies of Gems for six years.

According to Errol, he had so much money that “We couldn’t lock the safe” and on one occasion, Elon and his brother Kimbal sold some pages to Tiffany.

However, the story is somewhat disputed. Elon has never confirmed the version of his father, with whom he has publicly acknowledged that he has a complicated relationship.

Later, Errol himself told journalist Jeremy Arnold that his stake in the mine left him around $400,000 (at 2021 prices) and his companies began to run into difficulties in the late eighties, leaving him bankrupt in 2000.

During his childhood, his interest in programming brought Elon closer to the technological world and at the age of 12, He created and sold his first space game called Blaster for $500.

After his parents separated, Musk moved to Canada with his mother, model Maye Musk.

Growing up, she decided to move to Canada with her mother, where she is from, to study at universityBut he had to use his own resources to pay for the school.

Musk wrote on Twitter in 2019, “(My father) didn’t own an emerald mine and I worked my way through college, ending up with almost $100,000 in student debt.”

ELON enrolled in University of Pennsylvania in 1992 and was successful in obtaining a scholarship to study economics and physics. After that, he got his degree in Physics from the College of Arts and Sciences and a BA in Economics from the Wharton School of Business.

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Elon Musk

Photo Art: Andrea Velazquez

startup winning business personality

Upon completion, he enrolled in Stanford University to pursue doctoral studies in Applied Physics and Material Sciences, however he decided to cancel the mission to form his own company with his brother and a friend.

The company, baptized as Zip2, was dedicated to providing development, hosting and maintenance services to various media websites. In 1999 he sold it to Compaq for about $300 million.

Of the amount, Musk kept $22 million, which he used to start, a financial services company that eventually merged with Confinity, a competitor co-founded by Peter Thiel. was developing a similar system called PayPal.

Musk was ousted as CEO in 2000, but kept his stake in the company, so he added another million to his fortune when it went public in 2002 and $1.5 billion when eBay sold it later that year. When bought in, Elon got $180 million.

Elon Musk, The Tech Entrepreneur, Exercises His Leadership In His Companies In A Special Way And Till Date It Has Given Him Results.

The resources allowed Elon Musk to acquire or start companies such as Tesla and SpaceX.

These companies arose due to the fact that the businessman had three clear missions for the future: technological development and the Internet, the conquest of space as a means of preserving mankind, and the development of renewable energy.

Yes, Elon Musk He is one of the richest businessmen in the world and according to Forbes, he made his fortune last December 175.4 billion dollars.

Hombres Mas Ricos Segun Forbes 12 Dic 22

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Nation World News Desk
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