A Profile of Elon Musk – One of the Top Entrepreneurs of A Generation
Elon Musk is one of the most successful entrepreneurs of this generation, a person that became a millionaire at 27 after selling Zip2, his first company, an online media services firm. The buyer was Compaq and the sales price was $307 million. You may know Musk because he founded X.com right after selling Zip2, X.com became PayPal. In 2002 PayPal was sold for a huge $1.5 billion to eBay. Elon Musk’s cut was around $180 million.
Top entrepreneur Elon Musk is a Canadian-American South African-born investor, business magnate, inventor and engineer. His most-known work is associated with being the founder, CTO and CEO of SpaceX, the product architect and co-founder of Tesla, Inc and the chairman and co-founder of SolarCity.
The estimated net worth of this businessman is $13.9 billion. In December 2016 he was ranked at number 80 on the list of the richest men in the world.
We was already highly successful in 2002, when he launched the most impressive company he was involved with, SpaceX. The problem was that the company was in debt of around $75 million 6 years after the launch. This is because of 3 failed rocket launches. When the initial success was achieved, it was make or break.
There was then the involvement with Tesla Motors. The very first electric car was launched in the year 2008. However, the $100,000 Roadster model was faced with many quality issues. The result was a huge list of recalls. Combine this with the highly public and messy divorce from Musk’s first wife and we were faced with a setting that could have destroyed any man. Musk maintained optimism and although SpaceX and Tesla Motors were close to bankruptcy, fortunes turned around.
Rocket launch number 4 for SpaceX happened in September 2008. It was a success and the result was various contracts from NASA. In the year 2015 SpaceX had an official value of $12 billion. Powerful and advanced launchers were tested and new innovations are bound to son hit the industry.
The third Tesla Motors vehicle is expected in 2017. There are over 300,000 pre-sales orders already made. All this and SpaceX automatically means that Musk has a personal fortune that rebounded. Forbes even claims that the net worth is over $14 billion.
On the whole, Elon Musk is the embodiment of a figure that is larger than life. He does all that is possible and fights in order to succeed. Although the personal life is not as great as the business work, Musk did manage to do so many things other entrepreneurs only dream about.