Richest Person of the World – Elon Musk | Success Story of Elon Musk

Story of Billionaire Elon Musk – Read his Success Story Here

Hello Guys!! Welcome to our Website job-tips.in. On huge demand from our visitors, today we came up with the article of World’s Richest Person surpassing Jeff Bezos (CEO of Amazon) i.e. Elon Musk.

In this article, we will tell you the life story of Elon Musk – Elon Musk Success Story – Elon Musk’s Net Worth – Elon Musk’s Age & Family – Elon Musk’s Life Style – Elon Musk’s List of Companies and many more. So, visitors are requested to read the full article and give your feedback in the comment section below.

Let us start with Elon Musk’s Early Life and his Companies, because most of the people round the world want to know this wonderful sparking person.

Elon Musk’s Birth and Early Life

Born on June 28, 1971, Pretoria (South Africa) to a Canadian mother and South African father. His love for computers and quality of entrepreneurship was displayed as an early talent. Elon at the age of 12, created a video game and sold it to a computer magazine.

In 1988 on obtaining Canadian Passport, Elon left South Africa because he was unwillingly supporting the apartheid through the military service and also because he sought greater opportunities available in United States of America.

Elon Musk Education and Establishment of PayPal & SpaceX

Musk entered Queen’s University in Kingston, Ontario and he got transferred to the University of Pennsylvania in 1992. He got Bachelor’s Degre in Physics and Economics in 1997 from the University of Pennsylvania. Musk enrolled in Physics at Stanford University in California, but left after attending only two days because he felt that Internet has much potential to change the society rather than working in Physics.

Musk founded Zip2 in 1995 – a company which provides maps as well as business directories to the online newspapers. Zip2 was bought by the Computer Manufacturer Compaq in 1999 for $307 Million. Meanwhile, Musk founded X.com – An online financial services company. X.com later changed to PayPal and it became specialized in transferring money online. PayPal was bought to the Online Auction eBay in 2002 for $1.5 Billion.

Elon Musk was highly convinced that for the survival of life, humanity must have to come up with a multiplanet species. He however was much dissatisfied with great money expenditure in Rocket Launchers. In the year 2002, Musk founded SpaceX – Space Exploration Technologies, so as to make affordable rockets

The first affordable rocket Falcon 1 was launched in 2006 and the second one Falcon 9 was launched in 2010. These rockets were designed in such a way to cost much less than the competing rockets. Falcon Heavy, the third rocket (first launched in 2018) was designed to carry 53,000 kg to orbit. It was just twice the carrying capacity of its largest competitor.

Space Exploration Technologies – SpaceX announced the successor to the Falcon Heavy and Falcon 9: Super Heavy – Starship System. The Super Heavy Starship System was capable to lift 100,000 kg at its first stage to low Earth orbit.

Musk also thought to reduce the expenses of the spaceflight by reusing a fully reusable rocket that could lift and return to where it launched from. Grasshopper Rocket of SpaceX made several short flights in order to test such technologies.

Being the CEO of SpaceX, Elon Musk was also the chief designer of the Falcon Rockets, Grasshopper, and Dragon Spacecrafts.

CEO of Tesla – Elon Musk

Musk always thought of electric vehicles and has been long interested in the possibilities of electric cars. In the year 2004, Musk was one of the major funders of the Tesla Motors. Later the name Tesla Motors changed to Tesla. Tesla Motors was an electric car company founded by the entrepreneurs Marc Tarpenning and Martin Eberhard. In 2006, the first car introduced by Tesla was the Roadster that could travel 394 km (245 miles) in a single charge.

The Roadster was a sports car that could cover 0 to 97 km (60 miles) in less than four seconds. In 2010, initial public offering of the company raised about $226 Million. Tesla, after two years introduced Model S Sedan which acclaimed by the automotive critics for the performance and design. Tesla won further praises for its Model X Luxury SUV, which came to the market in 2015. The Model 3 – Less expensive vehicle went to production in 2017.

Co-Founder of PayPal – Elon Musk

PayPal, an American E-Commerce company founded in March, 2000 that enhances the Internet Money Transfers Internationally. This was highly used by the Internet Auction Company eBay – which owned PayPal from 2002 to 2015. PayPal, the Money Transfer Company was the merger of X.com and Confinity. This platform allowed users to make the payments on the purchase goods between accounts in secure online transaction.

Upon seeing the craze of PayPal becoming the first choice of the shoppers, the market giant eBay acquired it for $1.5 Billion in 2002. The company offers the users to connect their bank accounts to PayPal through a link to make the payments more efficient. eBay acquired PayPal till 2015 and then PayPal was spun off to an independent company but it still continued to be used by eBay.

PayPal implemented superior anti-phishing and anti-hacking measures that helped it to remain a respected company. The company developed a portable “key” which required manual activation before any transfer from PayPal account is processed.

Some Key Points Related to Elon Musk according to Forbes

  • Elon Musk has taken the challenge and is working to revolutionize the transportation on the Earth – through electric car making company Tesla and in Space – with the producing of the SpaceX.
  • Musk owns 21% of Tesla and has taken pledge more than half of its share as collateral for loans.
  • Elon stepped down as Chairman in 2018, after making false statements of his plan to take Tesla Private that triggered an SEC probe.
  • Musk’s rocket company, SpaceX is now valued at $46 Billion.

Elon Musk – Richest Person of 2021

  • Name – Elon Reeve Musk
  • Age – 49
  • Source of Wealth – Tesla, SpaceX, PayPal
  • Self Made Score – 8
  • Residence – Austin, Texas
  • Citizenship – United States of America
  • Marital Status – In a Relationship
  • Children – 7
  • Education – Bachelor’s in Physics & Economics from University of Pennsylvania

FAQs

Why Elon Musk is Famous?

Elon Musk cofounded the internet payment firm PayPal and the spacecraft company SpaceX. He is the CEO of Tesla – an electric car maker company.

Is Musk the Richest Person of the world?

Must become a centi-billionaire and the richest person of the world in January 2021.

How rich is Elon Musk?

On January 7, 2021 ELon Musk surpassed Jeff Bezos as the world’s richest person with the estimated net worth of $185 billion up from $27 billion in 2020.

Who invented Tesla?

Elon Musk
JB Straubel
Martin Eberhard
Mark Tarpenning
Ian Wright

Are Tesla Cars 100% Electric?

Tesla vehicles are purely powered by Batteries. Tesla is looking forward to produce future vehicles in terms of performance, distance, and the quality. In future we will be looking forward for the release of these vehicles.

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