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Elon Musk Success Story

flyhai0109 Aug 2021 Business

Elon Musk is a South African-born American entrepreneur and businessman who founded X.com in 1999 (which later became PayPal), SpaceX in 2002 and Tesla Motors in 2003. Musk became a multimillionaire in his late 20s when he sold his start-up company, Zip2, to a division of Compaq Computers.

Elon Musk was born to Maye Musk and Errol Musk. His mother, Maye is still a model and his father Errol was a south African born electromechanical engineer, sailor and pilot. Elon is the eldest having younger brother and sister. Elon had a brilliant mindset from his starting days in childhood. By the mere age of 10, he started learning the basics of computing. And surprisingly at the age of 12, he developed a game Blaster and even sold it for 500 hundred dollars.

He was influenced by Isaac Asimov’s  “Foundation” very much and believed that everyone should try to take set of actions that are likely to prolong civilizations and minimize the probability of a dark age if it exist. He had a rough childhood as the school gangs always hunted him down. So, he learned karate, judo and wrestling and blew them off. He also faced the divorce of his parents and got demotivated by his father. He always called him an idiot and said he could never make it.

But he moved on and went to Canada to study at Queens university. Later he studied business, economics and physics. Later after graduating, he enrolled at Stanford University but after two days, he dropped out. Luck was with him as his move to California timed perfectly with the internet boom in the late 1990s.

He started a tech startup with his brother Minbal called ZIP2. His start-up was successful and in a matter of 4 years, his company was sold to Compaq for 307 million dollars and 34 million dollars in stock. Having a 7% share, at the age of 24, Elon made 22 million dollars. Later, ideas in his mind started to pop up and he created a website x. com, to transfer money online through the mail. After a year, he merged this company with Confinity and they renamed the company PayPal, which is now extremely famous to transfer or receive money. Think of PayPal as Paytm just for the foreign countries.

But later he faced hardships as he was pushed out of his CEO position due to internal disagreements. But he made it through and it got better for him as Ebay later acquired PayPal for 1.5 billion dollars in stocks. Being the highest share holder of the company, 11%, he made around 165 million dollars. Later he decided to pursue another venture closer to his heart.

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