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Elon Musk on Top – Leaving Amazon Behind

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Elon Musk on top becomes the world’s richest person by surpassing Amazon’s Jeff Bezos. This 49-year-old Elon Musk net worth hits $186bn on Wednesday. After the rise of Tesla’s 4.8% share price, Elon Musk gained the top spot according to the Bloomberg billionaires index. Elon Musk is $1.5bn richer than Bezos who held the top spot since October 2017. After this news came out, Musk’s reaction was pretty interesting. The tweets from Musk’s account were as followed:

Elon Musk on Top also on Twitter

The Early Life of Elon Musk

Well, it’s nice to be the world’s richest person, but the hard work behind this success is simply amazing. Elon Musk is the founder, CEO, CTO chief designer of SpaceX. Well, that’s not all as he also the product architect of “Tesla”, founder of “The Boring Company” and “X.com”, Chairman of “Solar City”, Co-founder of Zip2, OpenAL, Neuralink.

Let’s explore Musk’s journey toward achieving success as one of the world’s top businessmen. Elan Musk belongs to a Canadian mother and an African father. He was Born and raised in the city called Pretoria of South Africa. Musk showed an active entrepreneurial spirit from an early age. He received immense support from his engineer father and his dietitian mother, who endorse their son’s fondness for technology and nurtured his passion.

Elan Musk bought his first computer at age 10 and educated himself on how to write programming code. And at the early age of 12, Musk built a fully functioning video game called Blastar, which he reportedly sold for around $500. He briefly attended the University of Pretoria for a short period of time, before moving to Canada when he was only 17 to attend Queen’s University. He was later transferred to the University of Pennsylvania, where he received dual bachelor’s degrees in economics and physics.

The Success Story of Elon Musk

In early 1995, Elon Musk and his brother Kimbal created Zip2, an IT company that licensed online city guide software to newspapers.

Despite the fact company struggled to gain traction in its first few years, local and national newspapers in the long run began using Zip2 to offer additional services to their respective customers. In 1999, Zip2 was obtained by Compaq’s AltaVista web search engine for a hefty $340 million.

With business partners like Peter Thiel and Max Levchin, Elon Musk then launched X.com, an online financial services, and email payment company. In early 2000, X.com integrated with American software company Confinity, best known for producing PayPal. In 2001, Musk was named Paypal’s chairman and CEO, shortly before that company was purchased by eBay for $1.5 billion. As a stockholder with around $180 million worth of shares, Elan Musk finally had enough assets to leave internet businesses behind, and channel his energies towards engineering interest.

Elon Musk and Tesla

In late 2004, Elon Musk teamed up engineers Martin Eberhard and Marc Tarpenning to help run Tesla Motors, where Musk was vital in designing the first electric car: the Tesla Roadster. After Eberhard was ousted from the firm in 2007, following a series of differences, Musk held management control as CEO and product designer. Under his watch, Tesla has become one of the world’s most popular and desired car brands.

Tesla Electric Models

With his space travel company SpaceX, Musk landed plentiful high-profile contracts with NASA and the United States Air Force, to project rockets and conduct military missions. Musk has been vocal about his plans to send an astronaut to Mars by the year 2025 in a collective effort with NASA.

Net Worth of Elon Musk

Most of Musk’s $40.4 billion net worth is invested up in Tesla stock as of June 2020, of which he owns more than 34 million shares. In January 2018, Tesla, which was valued at around $11.6 billion, announced a reimbursement structure in which Musk would not receive an annual salary but would instead earn cash based on the growing market caps the company hoped to achieve over the next ten years. The deal goals to assure shareholders and customers alike that Elon plans to remain entrenched with the company over the long haul.

elon-musk

Some Famous Quotes of Elon Musk

  1. “If something is important enough, you should try. Even if the probable outcome is a failure.”
  2. “I would like to die on Mars, just not on impact.”
  3. “Whenever I’d read about cool technology, it’d tend to be in the United States or, more broadly, North America…I kind of wanted to be where the cutting edge of technology was.”

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Sophia James is a writer at The News Engine; writing content on different niches like world, technology, lifestyle and news. I have a keen mind interest when it comes to exploring the most valuable stories out there. I believes in the idea that this world is filled with information that can benefit us in a variety of ways. Seeking knowledge is the most valuable act we can do as a author. The more we know, the better we can make our lives. I will continue to bring new interesting topics for you, keep an eye out!

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