He is the man of the moment, although we have been talking about him for many years. But Elon Musk has done it again and has become the protagonist of today when buying the social network Twitter for 44,000 million dollars.
It is about of the richest man in the worldwith a fortune estimated by Forbes at more than 247,000 million dollarsalthough to buy Twitter has had to borrow and has banks behind.
A fortune that seems to have no ceiling and that is guaranteed by its successful and disruptive companies (Tesla, SpaceX, Hyperloop…), which have put their name in the world orbit, and never better said.
But… where does all that money come from? How did this man get rich? Is it one more of the many self-made?
money calls money
Well no, gentlemen, Elon Musk is not one of those kids who hit a pitch creating a startup in a garage. Musk is rich from birth.
His father, Errol Muskis a South African engineer who became a millionaire by buying an emerald mine in Zambia. In fact, Elon himself confessed that in his childhood they had “so much money that sometimes we couldn’t even close our safe.”
That was how already grew up in opulencebut wanting to carve their own path. When I was 10 years old I was programming and achieved his first success by creating a video game and selling it to a South African industry magazine for 500 dollars.
His parents divorced and he was living first with his father and then with his mother, in Canada. His time at school was not easy, because the children bullied him, until in 1992 he obtained a scholarship to study Economics and Physics at the University of Pennsylvaniawhere he graduated and immediately began to create his own businesses.
Inspired by Nicholas Teslawho would later give his name to one of his companies, decided to dedicate his career to three sectors in which he considered that there were problemsMusk decided to go into three areas in which he considered “the Internet, renewable energy, and space.”
His first company was Zip2, founded in 1995 together with his brother Kimbal Musk and his friend Greg Curry. Elon was the CEO of this website that managed the development, hosting and maintenance of specific websites for media companies. Although the beginnings were rough, by 1999 he was managing almost 200 websites, including the New York Today site, which was a local directory of The New York Times. He sold it to Compaq Computer in 1999 for $307 million, of which Elon received 22 million dollars.
Later he founded the financial startup xcomwhich was one of the first Internet banks, but the birth of PayPal it was so impressive in the sector, that he decided to join forces with her and they merged. After much internal tension with the management team (Musk seems difficult to manage), in 2002 eBay charged PayPal for $1.5 billion.
And this sale is the origin of everything, because of the 180 million earned by Musk, he dedicated 100 to founding SpaceX, 70 million to Tesla and 10 million to SolarCity. The investment of his life.
what came after
These investments, as we said, They are the best thing Elon Musk has ever done. never, because they have made him who he is today. Investments that are born from ideas that have revolutionized business history, no matter what.
Although Musk has sweated a lot to get where he is, these ideas were not well received at first and almost bankrupted him by not finding Financial Support for your projects. But she did.
Only Tesla has come to be valued at a trillion dollarsalthough the events of recent days have caused its stock market valuation to plummet, as shareholders fear that Musk will sell part of his shares to finance the purchase of Twitter.
This man, admired by many and hated by many others (his former collaborators have recounted how difficult it is to work with him) took his father as an example, but he far surpassed him.
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This is the origin of Elon Musk’s fortune