Today, the world was shocked by making it known that Elon Musk managed to buy Twitter for $ 44 billion. This is a gigantic amount of money, and what the most is striking, is that we are not talking about a Microsoft caliber company, but an executive who has achieved position itself as one of the richest people in the planet in question of years.
Unlike traditional stories, such as Mark Zuckerberg and Jeff Bezos, who had a very good idea and capitalized, or high-level companies such as Warner Bros., who made safe investments, Musk made his money differently to most Of the famous billionaires today. Instead of an amazing invention, he had several good , and instead of many intelligent and safe investments, he made only a couple of risky decisions.
After escaping from South Africa to avoid military service, Elon Musk and his family moved to Canada, and eventually he came to study at the University of Pennsylvania, United States, where he specialized in physics and business, and transformed his Bedroom in a nightclub , the first of your risky investments.
At the end of his university, Musk and his brother, Kimbal, moved to Sillicon Valley, where they founded a company called Zip2, which worked as a business directory online. The brothers began recruiting investors and achieved external assistance to lead the company, which made deals with publishers such as the New York Times. For 1999, they sold Zip2 to Compaq, a giant computer manufacturer in decline, for $ 307 million dollars . Musk obtained $ 22 million in this transaction.
With part of that money, Musk bought a McLaren F1, which he collided one day while he was traveling next to Peter Thiel, co-founder of a payment company called ConfiNity. After this, the executive invested the millions of him to start another online banking company called X.com. The two companies merged in March 2000, forming a business that finally became PayPal. Musk was named CEO, but in September, while on vacation, the Board dismissed him and replaced him with Thiel, partly due to a disagreement about the change of the servers of the company. For 2002, year when Ebay bought Paypal, Elon received $ 180 million for the actions of him.
Almost immediately, Musk founded Spacex, this with the mission of colonizing Mars. Along with this, in 2002, he invested $ 6 million in Tesla, who at the time only had the promise of electric cars, and only that. The executive invested almost all the money he received by Paypal in these two projects, which suffered from bad luck during his early years . Spacex had multiple failed releases, who almost took him to bankruptcy, while Tesla had problems when her engineers realized that her battery prototypes would probably burn.
For 2008, just as many others, Elon Musk was almost bankrupt by the great recession. However, that same year was when Spacex and Tesla finally began to take off. The space company secured a $ 1.6 billion agreement with NASA , while in 2012, the automotive company began producing its first automobile for the mass market, model S.
Nowadays, Tesla controls approximately two thirds of the electric vehicle market in the United States, and Spacex is the leader in private spatial exploration. By the end of 2021, Musk had 17% of Tesla’s actions, valued at $ 175 billion dollars, which constitutes most of him. For its part, Spacex is valued at more than $ 100 billion, according to its October financing round, and the 48% stake of Musk in the rocket manufacturer, more effective and other assets, elevates its total net worth around of $ 266 billion.
This is not all, since Musk continues to invest in new companies, such as The Boring Company, which began in 2016, which excavates tunnels, and the startup of neurotechnology known as Neuralink. Now, This group is added twitter . What kind of changes will the manager bring to this social network? We only have to wait to discover it. Here you can learn more about this topic.