The Success Story of Elon Musk

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Early Days

On June 28, in the year 1971, the man who envisions to colonize planet Mars and change the world and humanity was born in Pretoria, South Africa. His name is Elon Reeve Musk, the founder of SpaceX and the CEO of Tesla Motors.

Elon is the son of a South African engineer, Errol Musk, and a Canadian model Maye Musk. He has a brother Kimble Musk and a sister Tosca Musk

He displayed an early talent for computers and entrepreneurship. At age 12 he created a video game and sold it to a computer magazine. He, from his early childhood, had a liking towards books. He on Sundays used to read books the whole day.

Education

Musk completed his secondary classes in South Africa. He then left South Africa because he was unwilling to support apartheid and wanted to do something big in life.

He studied at Queen’s University in Ontario, Canada for two years before he transferred to the University of Pennsylvania in the United States where he finished a degree in physics and economics. He enrolled at Princeton University for his Ph.D. but did not pursue it.

Early Entrepreneurial Days

He felt that the Internet had much more potential to change society than work in physics. Together with his brother, Elon started in 1995 a web company called Zip2 which developed and marketed city guide software. After that Compaq acquired Zip2 for US$307 million.

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Musk was a single-sided man. He did not let anyone change his ideas and was always passionate about things he did in life. He did not stop after even being a millionaire even before the age of 30. He was a book of great ideas, which never let him stop progressing.

In March 1999, Musk co-founded X.com, online financial services, and e-mail payment company. A year later the company merged with confinity, a money-transfer service called PayPal.The merged company focused on PayPal service and was renamed PayPal in 2001.

Musk was ousted in October 2000 from the post of CEO due to the one-sided behavior and disagreements with the board. The online auction eBay bought PayPal in 2002 for $1.5 billion, of which Musk received US$165 million.

Elon always believed that, “The first step is to establish that something is possible; then the probability will occur.”

Founded SpaceX

Musk was long convinced that for life to survive, humanity has to become a multiplanet species. However, he was dissatisfied with the great expense of rocket launchers. In 2002 he founded Space Exploration Technologies (SpaceX) to make more affordable rockets.

You cannot imagine that SpaceX’s first launch “Falcon -1 ” was unsuccessful and they failed another Two times. Elon musk was in great debt but he did not lose hope. He kept on encouraging his team members even after 3 failures. And always kept on learning from his failures.

And finally, on July 14, 2009, their rocket succeeded making SpaceX the only company in the world to make the cheapest rockets, in half original price. After that Space X reached great heights which we all know. The company is known for its innovations all over the world.

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Musk aims to set up a society in mars in 2040. SpaceX is the only successful company in the world to make reusable rockets that makes rockets cheaper. SpaceX also developed the Dragon spacecraft, which carries supplies to the International Space Station (ISS).

Just think for a moment. A person with no knowledge of rockets is the owner of the most successful company in the world. This tells us that if a person has full confidence in himself he can achieve anything. Musk gained all his rocket knowledge by reading numerous books.

His Fascination in Electric Cars Made Him buy Tesla

Musk had long been interested in the possibilities of electric cars, and in 2004 he became one of the major funders of Tesla Motors (later renamed Tesla), an electric car company founded by entrepreneurs Martin Eberhard and Marc Tarpenning.

Soon his interest grew and he bought the company. This shows that he always wanted to learn new things and was a great executor. In 2006 Tesla introduced its first car, the Roadster, which could travel 245 miles (394 km) on a single charge.

Unlike most previous electric vehicles, which Musk thought was stodgy and uninteresting, it was a sports car that could go from 0 to 60 miles (97 km) per hour in less than four seconds. In 2010 the company’s initial public offering raised about $226 million.

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Two years later Tesla introduced the Model S sedan, which was acclaimed by automotive critics for its performance and design. The company won further praise for its Model X luxury SUV, which went on the market in 2015. Model 3, a less-expensive vehicle, got a super hit.

And now you know that Tesla is the biggest automobile company in the world with a market cap of 400 billion dollars.

Elon has also played an important role in developing the company “Solar City” which is another successful company that makes solar panels.

He says; ” Persistence is very important. You should not give up unless you are forced to give up.”

Elon musk success story teaches us that whatever you do in life do it with all your hard work. Be passionate about what you are doing. Never give up in your life, in any difficult situations. A person can pursue anything if he has the will, to do it, and an innovative mind.

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Sparsh Jain
Sparsh has a passion for learning. He aims for early financial independence, loves to read, write, cycle, and play tennis.
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