Entreprenuers

All about Elon Musk, his Kids & Family, Net Worth, Salary, Income

By Anna Paul 1 day ago20 views

The world has seen many great entrepreneurs come and go. While some have achieved massive success, others have only made it to the headlines for their failures. The case is no different with Elon Musk , or as his fans know him, The Real Iron Man . He was born on June 28th 1971 in Pretoria, South Africa. His father was an engineer and his mother a nutritionist. The name itself comes from the movie ‘Elon’, which he watched just before being born according to what he himself claims .

Since his early days, Elon showed signs of brilliance that would later materialize into full-fledged success stories. At 8 years old, he sold the code of a video game that he created to a magazine for $500 dollars (what would be $8500 today). This is the first indicator of his clever and innovative mind. At around 12 years old, he had developed an arcade video game named “Blaster” and even sold it to a computer magazine for $500 dollars again at just 15 years old. His journey didn’t stop there. He went on to attend Queen’s University in Canada between 1992-1995 .

After his stint at college, Musk decided that instead of studying for a Ph.D., he would rather try out some entrepreneurial ventures , which resulted in him co-founding Zip2 Corporation in 1995 with his brother Kimbal Musk . The company provided online content publishing software for news organizations , allowing them to easily build websites without needing web designers or programmers. In 1999, AltaVista (now a Yahoo company) bought Zip2 for $307 million dollars and Elon Musk’s share of the money was $22 million dollars.

He then took his talents to the next level and founded X.com in 1999 , which later became PayPal . The idea for an online payment service was ahead of its time and it received lots of criticism from banks who thought that such a service would be impossible to create because it flies in the face of their business model . However, PayPal went on to become one of the most successful internet ventures in history with a net worth of $1.5 billion dollars. It was acquired by eBay back in 2002 for $1.5 billion but Elon Musk had made $180 million dollars from the sale. A year later, eBay then decided that PayPal had outgrown its parent company and spun off into a separate company, which is now one of the most successful financial services companies in existence .

Musk was also responsible for funding two other multi-million dollar startups; SpaceX and Tesla Motors . SpaceX designs , manufactures and launches advanced rockets and spacecraft with the goal of making space travel affordable for everyone. The company has already launched several rockets into orbit and Musk plans on getting humans to mars by 2025 . Tesla Motors designs , manufactures and sells electric cars along with powertrain components. Their first car; the “Tesla Roadster” became one of the world’s fastest production cars upon its release in 2008 (the only faster production car being the another car made by Tesla Motors itself).

Tesla Motors has also developed a unique business model of selling cars directly to consumers, completely skipping the use of third party dealerships which is the standard practice in the auto industry. This further added to Elon Musk’s net worth, already well over $1 billion dollars at this point. He continued his success with SolarCity , yet another solar energy startup that aims to make solar power affordable for everyone through their leasing program . All these companies are now publicly traded on stock exchanges and have market caps of over $50 billion dollars combined.

Musk eventually decided that he would try to combine all three of his companies into one future-forward vision known as ” The Hyperloop “. It is a transportation system that features a large, low-pressure tube in which magnetically levitated capsules travel at extremely high speeds. Musk’s concept is to connect cities with Hyperloops thus eliminating the need for air travel. It would also be an eco-friendly method of transportation since it uses solar panels to power the system.

However, Musk is no longer an employee of any of his companies and instead serves as all three company’s primary investor . He stays on as the chairman for all three companies which is perhaps an even greater role, as it allows him to have total control of all future decision making. Elon Musk has said in many interviews that he will not stop until humanity becomes a multi-planet species .

Elon has been married twice and is the father of five children. As one can see, Elon Musk’s net worth is a direct result of his incredible work ethic and passion for science and technology which is sure to ensure Elon Musk’s legacy lives on long after he passes away.

Elon Musk graduated from Queenstown High School in 1990 then went on to earn a BS degree in Physics from the University of Pennsylvania , an MS degree in Energy Engineering from Stanford University , and a PhD degree in Applied Physics from Stanford University as well . Elon Musk has said many times that it was in college where he felt most at home, surrounded by the brightest minds in the country. Elon Musk is currently worth an estimated $11.7 billion dollars .

“I had a terrible upbringing ,” Elon says . ” It would have been easy for me to become very depressed or very bitter , but I never have been.” Elon Musk had always dreamed of going to America after watching countless movies about Silicon Valley and reading about how so many success stories began on this side of the world. Elon stayed with his brother while attending college at the University of Pennsylvania. Elon spends almost all of his free time with his five sons when he’s not busy running three multi-billion dollar companies . Elon enjoys playing video games on a massive scale on top of being a family man. Elon Musk’s current girlfriend is famous British actress, Talulah Riley .

About Elon Musk Elon Reeve Musk ( /ˈiːlɒn/ ; born June 28 , 1971) is a South African-born Canadian American business magnate and investor . He was born in Pretoria , Transvaal, South Africa , to Maye Musk ( née Haldeman), a model and dietician from Regina , Saskatchewan, Canada, and Errol Musk, a South African electromechanical engineer , pilot, and sailor. His mother has CITIZENSHIP of CANADA & SOUTH AFRICA Elon has an older half brother , Kimbal (from his father’s first marriage ), and a younger brother, Tosca Musk. Elon Musk became a multimillionaire in his late 20s when he sold his start-up company, Zip2 , to a division of Compaq Computers . Elon Musk then founded X.com , an online financial services and e-mail payment company. On March 28 , 2000 , X.com was acquired by Confinity , which later changed its name to PayPal . Elon left the company after it merged with Elon’s next venture, SpaceX , which was funded by NASA so Elon could develop space technologies like rocket boosters for for its Falcon 1 launch vehicle; this would eventually lead to more ambitious objectives, such as colonizing Mars . Elon Musk cofounded SolarCity , of which he is chairman , and which is the largest supplier of solar power systems in the United States . Elon Musk founded Tesla, Inc. in 2003 to create electric vehicles .