It’s hard to believe that the same man who reportedly spent $2,000 on his first computer has gone on to create one of the most successful companies in modern history, but that’s exactly what Elon Musk has done.
In just 20 years, he went from just another tech geek with an idea to the man behind Paypal, SpaceX and Tesla Motors. If you’re interested in how he did it and how you can follow in his footsteps, keep reading for all the details about how Elon Musk went from 200$ to 200 billion dollars in record time.
Tesla Motors – Where it all began
Musk has said that he did not choose the fields of electric cars and renewable energy on a whim. His fear of climate change, caused by fossil fuels, is so great that he was determined to take matters into his own hands when creating Tesla Motors. Tesla Motors produces three types of electric vehicles: the Model S, Model X, and Model 3, which are each designed with different levels of sophistication and technology. The first car they ever produced was the Tesla Roadster (2008), which is capable of speeds up to 125 miles per hour and goes 240 miles on a single charge. The next vehicle they produced was the Tesla Model S (2012), which has been called the best car in America by Car & Driver magazine multiple times.
The company continues to invent and expand its fleet of electric vehicles and on April 30, 2016 Tesla Motors had a market cap of just under $32 billion. That may seem like a lot but there is one man who was able to build his personal wealth exponentially more than that. Of course, I am talking about none other than our business mogul friend, Elon Musk! It’s not just Tesla Motors that made him rich, however. It’s all of his investments including SpaceX (an aerospace manufacturer and space transport services company), SolarCity Corp (solar power system provider), The Boring Company (construction company) and many others have added up over time creating his massive personal fortune.
Elon Musk wasn’t always a billionaire. He started out as a PayPal employee and he’d just sold his company to eBay for $1.5 billion dollars when eBay CEO Meg Whitman made him the president of the company at the tender age of 27. A short two years later, after fighting tooth and nail against eBay’s new management, Elon left with a settlement that made him richer than most people can imagine — but not yet as rich as he would become. He spent the next few years becoming an Internet legend by co-founding what would eventually become one of the world’s largest online payment companies, PayPal!
He then tried to make it as a Hollywood producer, but his efforts did not bring him wealth or fame. So what did he do? In 2004, he founded Space Exploration Technologies (SpaceX) — a private space exploration firm that today has an enormous market capitalization of over $18 billion. That was followed by Tesla Motors and SolarCity, which are valued at more than $30 billion collectively! Add another 70-odd company to those three and Elon Musk is now worth a staggering $20 billion. Plus he’s got those sweet hats to keep his head warm! Not bad for a guy who started out with just tens of millions of dollars!
SpaceX and Tesla Energy
What is SpaceX? Space Exploration Technologies Corporation, also known as SpaceX, is a space transport services company founded by entrepreneur Elon Musk in 2002. What is Tesla Energy? Tesla, Inc., also known as Tesla Energy, markets and manufactures battery products. In 2015 the company released the Powerwall and Powerpack rechargeable lithium-ion batteries. Both are intended to power homes, businesses and utilities while reducing reliance on fossil fuels and grid electricity.
SpaceX was founded by entrepreneur Elon Musk. His goal with SpaceX is to reduce space transportation costs and enable the colonization of Mars. In 2006, SpaceX’s Falcon 1 rocket became an industry first by putting a privately funded spacecraft into Earth orbit. In 2009, SpaceX’s Falcon 9 rocket delivered its first payload into Earth orbit before receiving official U.S. government certification to carry Defense Department satellites and other payloads on its launches in 2010. What does Tesla Energy do? Tesla Energy builds batteries for home use and for businesses to be used with solar panels as well as for utilities to store surplus energy from renewable sources such as wind turbines or solar panels.
Musk first made his money as a co-founder of PayPal. He also developed the idea for electric car manufacturer Tesla Motors and founded SpaceX, an aerospace manufacturer and space transport services company, with the aim of reducing space transportation costs and enabling the colonization of Mars. In 2016, he donated $10 million to the Future of Life Institute to run a global research program aimed at keeping artificial intelligence safe.
It is always said that behind every successful man there is a woman — but it’s more than that in this case. In 2010, Musk met Talulah Riley -a British actress best known for playing Mary Ann in The Pirates! In An Adventure With Scientists- on the set of Iron Man 2 and they started dating.
They got married in 2010 and divorced in 2012; they remarried in 2013, filed for divorce again in 2014, withdrew their petition for divorce six months later, and finally divorced again (the final time) two years after that. In May 2013, SpaceX launched its first unmanned spacecraft into orbit around the Earth. On March 30th 2017 SpaceX became one of only two private companies ever to send a spacecraft to the International Space Station
Musk’s fortune is mainly a result of the 36% of shares he owns in his company, Tesla. He also makes money from SolarCity and SpaceX. Basically, this guy is a genius, and it has shown to be true time and time again. Who knows what Musk has up his sleeve for the future? One thing is for sure: we should all be paying attention to what he does next!
Elon Musk made his fortune by applying the same hard work and risk-taking to businesses, as he did with his first major venture: creating Zip2 Corporation at the age of 24. These two companies laid the groundwork for PayPal and Tesla, respectively. And if all this weren’t enough, Musk still found time to create a fun hobby: running SpaceX. So what can we learn from the way that Elon Musk went from $200 to $200 billion dollars? If you have an idea for a company and are serious about building it into something great, then you should start now.