Musk entrepreneurship history
At 12, Musk started to show some signs of his extreme creative qualities, particularly with technology when he developed a game called Blastar. Besides, he also demonstrated his skills for business when he sold Blastar for $500.
Moreover, in 1995, at age 24, Must started his first startup company – Zip2 Corporation. This was a partnership with his brother, Kimbal Musk. Zip2 became an online content provider for the Chicago Tribune and The New York Time websites. In 1999, Compaq Computer Corporation acquired Zip2 for a whopping $307 million. The Musk brothers were now indeed in business. In the same year, the Musk brothers launched X.com, an internet banking which is known as PayPal today. The astonishing success of Paypal led an online giant company, eBay, to acquire it for $1.5 billion.
Musk, inspired by the trend in technology with all his entrepreneurial and innovative insight, entered the transportation sector with some disruptive innovations. He is hit both space and earth with SpaceX in 2002 and Tesla Motors in 2003 respectively. Currently, SpaceX is one of the largest space travel companies in the world and that Tesla Motors is the first major company to produce electric cars.
In short, Musk is continuously innovating. His latest creation is in Artificial Intelligence sector. He created Open IA and Neuralink. AI – Neuralink aims to combine artificial and human intelligence to help those who suffer from brain injuries
Elon Musk net worth
Elon Musk Net Worth is $25.3 B (Forbes, 2019). Nevertheless, in November 2019, It dropped dramatically by $768 M due to Tesla’s Botched Cyber-truck demonstration failure, as shown in the following video published by The Guardians.
Contrary from what Journals says, Elon Musk Net Worth according to him is $20 B. He declared in the court this month that his net worth went down due to enormous debt with Tesla Inc. and SpaceX.
Since last year, Musk is involved in a scandal after accusing a British Diver that helped to rescue the Thailand young Football team of being “Child rapist” without evidence. According to Musk, he was defending himself for the criticism made by a diver, Caver Vernon Unsworth, alleging that Musk neglected in saving the young Football team from the cave.
Indeed, Tesla CEO and his engineer prepared the mini-submarine to help, but the transportation did not get there on time. Therefore, early December 2019, Musk responded in the court for his accusation and said that Unsworth did not take into account his effort and his team for building the submarine to save the lives of those teenagers.
Secret Beyond Musk Success
Finally, the secret beyond Musk success is his solid education, passion for technology and entrepreneurship, adventures mindset, self-confidence and determination. He did all this by envisioning the future and believing that humans have the power to do anything they vision.
The business Guru yet had had several failures beyond the fall of his net worth. However, he never let that stop him from living his dreams.
For instance, a SpaceX rocket caught fire during fueling in September 2016. It sent the company into a four-month launch break while he carefully worked out what went wrong. Further, in May 2016 a Tesla car that was on self-trial, crashed into a tractor-trailer, eventually killing the Tesla driver. The event drew Musk into a public spat over the safety of his vehicles.
Despite these consecutive episodes of stress and failure, Musk remains positive and continues working hard on his ideas to improve his products. As he well said “Failure is an option here. If things are not failing, you are not innovating enough.”
Summarising, Musk entrepreneurship history is full of risk-taking decisions, resilience, persistence and above all, visioning. The fact of being ahead of his time influenced him to see the world in another perspective. Also, the intense exposure regarding technology from a very early age contributes to his substantial experience in this field. Finally, Tesla’s founder transformed his humble beginning into opportunities. He had a hard childhood due to apartheid in South Africa and financial difficulties in Canada. These experiences made him embrace all the opportunities later found in the USA.