A Business Magnate, Engineer, And CEO Of Spacex And Tesla Inc: Elon Musk

Introduction

You’ve seen him on the news, read about him in magazines and newspapers. Elon Musk is the real-life “Iron Man.” He has an impressive resume that includes, but is not limited to, being CEO of Space Exploration Technologies (SpaceX), one of the most innovative companies of today, and CEO of Tesla. This electric car-making company is changing the way we see cars. Elon has also made a name for himself as a philanthropist, even creating his foundation. He is also listed as one of the 100 most influential people in the world by Time magazine and CNN.

Who is Elon Musk?

Elon Musk was born in Pretoria, South Africa, on June 28th, 1971. His father is Errol Musk, and his mother is Maye Musk. He has always been a dreamer since he aspired to go to Mars before he could even read. The family moved to Canada when Elon was still young, ending up in Ontario. Growing up, his parents had very little money, which meant the kids were forced to figure out things independently while the parents earned money.

A Brief History of Elon’s Career and His Net Worth

Net worth: $228.4 billion

In his career as an engineer, Musk has founded several companies, which include:

1. Zip2 – A company that built a website for newspapers. This site allowed the newspapers to have their website, which was revolutionary then. It enabled the papers to have a fresh and new look for their readers and enabled them to update them on the go.

2. X.com – This company is built to be an online bank. It merged with Confinity in 2000, which would soon become PayPal.

3. SpaceX – An aerospace manufacturing and space transport company that designs, manufactures, and launches advanced rockets and spacecraft.

4. Tesla Motors – A leading electric car manufacturer in the US specializing in building electric vehicles; until recently, they were a part of this list of companies Elon Musk has founded.

5. SolarCity – A company based its business model on selling solar panels and their installation. They’ve also started a program that pays their clients for the energy they produce for the next twenty years.

How Did He Get Started in Business?

Elon Musk began his career as a student at Queen’s University in Ontario, Canada, in 1992. He studied physics and economics but soon realized he wanted to pursue engineering. He transferred to Stanford University in California, earning two bachelor’s degrees, one in economics and one in physics. After college, he ventured into business and started Zip2 with his brother Kimbal Musk. They sold it for $307 million, which allowed Elon to start X.com, which would eventually be called PayPal after merging with Confinity. After that, he went on to found SpaceX in 2002.

Rise to Fame

Elon’s rise to fame as an entrepreneur began after he was frequently referred to as the Thomas Edison of the 21st century. His ideas and innovations have changed how we see business and, most importantly, how we communicate with each other using technology. Here are some of his greatest inventions:

1. PayPal – A company that provides electronic payments for online transactions. It is the world’s leading Internet payment system. In March 2014, PayPal announced a partnership with Samsung to launch a new mobile payment system called Paypal Mobile.

2. Tesla Motors – A company founded in 2003 to produce electric cars. The Tesla Roadster was their first model, which hit the market in 2008, and has been well received by both car lovers and the environment. They are considered by many as the world’s most innovative car maker.

3. Spacex – An aerospace manufacturer and space transport services company that designs, manufactures, and launches advanced rockets and spacecraft.

What Has He Done So Far?

  • Made PayPal the world’s most extensive online payment system, where it processes payments for millions of people in 185 different countries.
  • Started an online payments company called X.com in 1999. It would later merge with Confinity to become PayPal.
  • Launched the SpaceX Falcon 1 rocket that carried the first commercial satellite into orbit in 2008.
  • Purchased Tesla Motors for $465 million; created the Tesla Model S and Model X, among the highest-rated cars on Amazon.
  • Recently announced plans to produce a viable human colony on Mars by 2040, making it one of his biggest goals at this time.

How Did He Get to Where He Is Now?

Apart from all his inventions, Musk is a very inspiring person who believes in giving back to the world. He has already donated $72 million to the foundation he created in 2002. He is also the brains behind an initiative that aims to reduce carbon emissions by creating a solar-powered home battery that will store energy.

The Future of Elon Musk and SpaceX

Mars Colonization project:

By working with SpaceX and Tesla Motors, Elon Musk has brought out his vision for sending humans to Mars as early as 2026. Not only that, but also, he plans to be one of the first to go.

Developing the Hyperloop:

A Hyperloop is a proton tube that will work like a high-speed bullet train. It’s supposed to cut the travel time between LA and San Francisco from 6 hours to 35 minutes by traveling through this tube.

Conclusion

Elon Musk is on the verge of fulfilling his dreams by colonizing Mars, revolutionizing transportation, and getting us to move from a fossil fuel-based economy. All this while also making the world a better place. He is one of the most victorious entrepreneurs in history, and there might not be a limit to his ideas and innovations.

author avatar
Michael Solomich

If you want more money tips...

Join us and stay up to date on all current offers and tips!

By clicking on ‘SIGN ME UP’, you agree to our Terms of Use & Privacy Policy

Other Posts You May Enjoy:

What is a hard money lender?

Are you a student looking for the perfect credit card option? The Stanford Federal Credit Union Student Visa Credit Card has all of your needs