How Elon Musk made his fortune
Musk was already a millionaire before creating his fame through these projects that move the world. After leaving her hometown in South Africa she began her studies at Economics and Physics at the University of Pennsylvania thanks to a scholarship in 1992. After his first step in college, the businessman decided to enroll in the doctoral program in Applied Physics and Materials Science at Stanford University, but eventually dropped out of classes to focus on what it would be his first business success: Zip2an online media editing software company.
The debut project in the programmer’s career became a big business and, three years after its creation, the company had commercial agreements with 160 newspapers around the world. Time later, the founders decided to sell the company and Musk received 22 million euros.
The next step in his ascent to the top of the Forbes list came from PayPal, which was originally known as Confinity6. This company, in its beginnings, was owned by the entrepreneurs Max Levichin, Peter Thiel, Luke Nosek Y ken howery. Musk, in parallel, created an online banking company called X.com with the money he had earned from the sale of Zip2. That same year the two companies merged and in 2001 it was renamed PayPal.. With the sale of the company to Ebayfor US$1.5 billion, the South African-born man already had a fortune of $180 million.
In the most recent past, the businessman, nationalized American and Canadian, created his most successful projects to date: Space X and Teslatwo American companies that move both space and earth: the former is engaged in aerospace manufacturing and services, while the latter designs, produces and sells electric cars.
Elon Musk Space X
But not everything is ascent in Musk’s life: after several failed rocket launches, and after learning that the batteries of his electric cars could catch fire, the tycoon was very close to hitting rock bottom and reaching financial bankruptcy. In 2008 the aerospace company obtained millionaire agreements with NASA and Tesla began its scale production.
Just three weeks ago he shook Wall Street by making an offer to take control of Twitter for US$44 billion, news that he made known, precisely, through a tweet on the same social network where he accumulates almost 83 millions of followers.
Source: Ambito
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