How did Elon Musk make his money (The Full Journey)

Elon Musk
Do you have these questions in mind?

  • Why is Elon Musk so rich?
  • How did Elon Musk become so rich so fast?
  • How did Elon Musk start and make the most of his money?
  • How does Elon Musk get paid?
  • How does Elon musk earn money from SpaceX?
  • How did Elon musk get rich before Tesla?
 
Just like you, I am a business geek too. Businesses and successful people inspire me and if you are here, I know exactly what you are looking for. So, grab a cup of coffee and let’s get started.

Table of Contents

Elon Musk

Why is Elon Musk so rich?

From almost getting broke personally, and now trying to colonize Mars…

And trying to beat BMW, Toyota, Mercedes-Benz, and VW to electric cars from a small company that had only produced a shoddy electric roadster before – his story says it all.

Elon Musk is one of the World’s Wealthiest and most innovative entrepreneurs having diversified experience: 
  • Tesla Inc (CEO, Product Architect)
  • SpaceX & Starlink (Founder, CEO, & Chief Engineer)
  • Twitter Inc (CEO)
  • Neuralink (Co-founder)
  • The Musk Foundation (President)
  • The Boring Company (Founder)
  • OpenAI (Co-founded & Exit)
  • X.com (Sold & Exit, Now part of PayPal)
  • zip 2 (Sold & Exit)
  • PayPal (Sold & Exit)
 
Musk is known for his ambitious and innovative approach to business, and his companies have disrupted a number of industries, including online payments, space travel, and electric vehicles. These successes, along with his other investments, have contributed to his significant wealth.
Elon Musk

How did Elon Musk achieve so much?

Musk’s wealth has been largely derived from his successful business ventures, as well as from his ownership of a significant number of shares in these companies. 

In addition, Musk has received compensation in the form of salary, bonuses, and stock options from the companies he has led.

Where he started, and what it took him to become who he is today?

 

Among all the billionaire entrepreneurs, Musk stands out as being on another level of positivity, risk-bearing, and self-belief.

 

Successful entrepreneurs are insane, literally insane! Yet, they have this crazy positivity, are significant risk-takers, and have this ridiculous self-belief. And in my opinion, that’s the key. 

Elon Musk

Elon Musk Childhood

Like any typical 12-year-olds, Musk had a passion for video games as a child. However, unlike most other kids, he already had an entrepreneurial mindset and an appetite for more and more.

 

And this was seen in the fact that he created and sold his first video game, Blastar, and earned $500.

 

At 17, he left his native land, South Africa, for Canada. He then entered the U.S. to Graduate from the University of Pennsylvania. 

 

After graduation, he enrolled in a Ph.D. program at Stanford University; however, after two days of enrollment, he dropped the idea and switched to the “dot.com” industry during the internet boom in the mid-90s.

 
Elon Musk

How Did Elon Musk Make His Money (the journey)?

Elon musk started his entrepreneurial journey much like any other entrepreneur in the 20th century, targeting the internet boom at that time but what made a big difference was his tenacious attitude and courage to stand against all odds. 

Here is a quick glimpse of his journey from zip2 to Twitter  –

1995 — Found Zip2, his first venture.

(Zip2 was a company that provided and licensed online city guide software to newspapers, an early version of Yelp and Google Maps.)

 

1996 — forced to resign as CEO from his company Zip2!

1999 — Co-founded another venture x.com, an online bank company that was later merged with PayPal.

2000 — expelled from his position on PayPal’s board of directors; however, he still  decided to stay in the company in a senior position.

2002 – PayPal was sold to eBay for $1.5 billion.

Still, the largest shareholder, Elon Musk, walked away with $180 million out of the deal.
Many people would take this “larger-than-life fortune” and retire, but we cannot expect the same from Musk….. Right?

He further invested this money into his other ventures…

Elon Musk

2002 — began his quest in the space science industry with SpaceX, but failed his first rocket launch.

2004 – Invested in another firm. “Tesla”

Meanwhile…

2007 — failed his Second SpaceX rocket launch

2008 — failed the third SpaceX rocket with NASA satellites onboard!

2009 — Tesla became almost bankrupt.

2014 — Several Tesla Models caught fire

2015 — one after the other, Four SpaceX rocket landings failed

2016 — failed his commitment, Tesla Model X deliveries were delayed over a year, and around 300M Facebook satellite rocket launch exploded!

2016 – Took over the Solar City and founded two other companies, Neuralink, and The Boring Company.

While his ventures were not doing that great, he had two newly founded companies to take care of!

What could get worse?

Elon Musk

2018 — Raised controversies when he took a puff of cannabis on a live show.
2018 — A lawsuit against Musk was filed by SEC.

However, Musk was not the one to give up; he has always been tenacious and then

2020 — Tesla witnessed an incredible stock surge of 695% and became the most valuable company in the world.
2022 – Became the owner and CEO of Twitter

Today, Elon musk might be suffering a little with Twitter, but he has these companies making him billions per year.

  • The Boring Company – $5.7 billion
  • Starlink – $40 billion
  • SpaceX – $125 billion
  • Neuralink –$500 million – $1 billion
  • OpenAI – $1 billion
  • Tesla – around $1 Trillion
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Elon Musk

Top 5 Business Advice for New Entrepreneurs from Elon Musk’s Life

  • Don’t Be Afraid To Take Risks
  • Invest in Yourself
  • You don’t have to be pretty driven to make it happen
  • Persistence is essential
  • A failure is an option here. If things are not failing, you are not innovating enough.

Musk has always been an optimist and a risk-taker; that is reflected in his journey and his words – "I would rather be an optimist and wrong than a pessimist and right."

Conclusion

Successful people don’t wait for opportunities; instead, they create them.
Elon musk’s success might look like an overnight success today.

It’s worth noting that Musk’s wealth has also fluctuated significantly over the years due to the performance of the companies he has founded and invested in, as well as changes in the stock market. Despite this, he has consistently ranked among the wealthiest individuals in the world.

Still, his journey started way back, back when he was a teen when he sold his first game called blaster, when he started his first company and how he has always been tenacious on his entrepreneurial journey despite all the odds.

Want to Save Time in your Business Launch?

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  • What is Market Research, USP, Niche & Positioning
  • How to find a suitable name for your business
  • How to create your brand image (Logo + Branding)
  • How to Register Your Business
  • How to Register for Taxes
  • How to get Licenses / Permits
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  • How to get Funds for your Business
  • How to do Sales & Marketing – Offline & Online
  • Why have a Website / Blog / Social Media
  • How to build & train your Dream Team
  • How to provide Excellent Customer Service
  • Buying an Old Business Vs Franchisee Vs Own Brand from Scratch

Handpicked inspirational Youtube videos for you

How Elon Musk Became the Richest Person in America in 2022 – YT Channel’ Forbes’

How Much Elon Makes Per Second! – YT Channel ‘Elon Musk Zone’

How to Create a Company | Elon Musk’s 5 Rules – YT Channel ‘Savanteum.’

A. Elon musk’s net worth is $188.7 Billion today. He is among the wealthiest entrepreneurs in the world.

A. Elon musk’s real name is Elon reeve musk.

A. The world’s top billionaire is 6 feet 1.5 inches tall.


A. Elon Musk was born into a well-off family in Pretoria, South Africa, in 1971. His mother, Maye, is a Canadian dietitian and model.

At the same time, his father, Errol, is an engineer, pilot, sailor, consultant, and property developer, who was a half-owner of a Zambian emerald mine near Lake Tanganyika.

A. Elon Musk will be 51 years old as of the year 2022.

A. Elon musk has two wives, Justine Wilson (his classmate at Queen’s University) and Talulah Riley (Pride & Prejudice actress).

In contrast, he had three marriages, 2 of which were with the same woman, Talulah Riley.

 

 

 

 

 

 


A. Elon musk has 3 marriages and 10 children, out of which his first baby died of a disease called infant death syndrome (SIDS). He now has 9 living kids.

Including a pair of twins, a set of triplets from his ex-wife Justine Wilson, and a boy and girl from his ex-girlfriend, Grimes.

Namely Nevada Alexander, Vivian, Jenna, Wilson, Griffin, Kai, Saxon, and Damian, X Æ A-12

 

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