![]() By 2000, X.com had merged with Confinity Inc, a software company based in Silicon Valley. X.com was one of the world’s first online banks and deposits were insured by the Federal Deposit Insurance Corporation. Starting a business – I’d say, number one is have a high pain threshold.” – Elon Musk The Second Venture: X.comįollowing the success of Zip2, Musk went on to invest the bulk of his earnings into his next venture, financial services company X.com, which he founded alongside Harris Fricker, Ed Ho, and Christopher Payne in 1999. “Starting a business is not for everyone. Various big-name news publishing companies such as the New York Times and the Chicago Tribune saw promise in the startup and its useful city guide mapping software.Įlon Musk’s first-ever entrepreneurial venture sold for $307 million in 1999, earning him $22 million for his 7% share in the company when he was just 27-years-old. However, despite the lows of the Zip2 endeavour, the trio soon enough found angel investors who backed the company as well as clients in the city. ![]() He found himself sleeping on the couch in their startup’s office and had to shower and use the restroom facilities at his local YMCA. Despite its eventual success, the company took time to get off the ground and, in the interim, Musk struggled financially. Zip2 was a company that provided online city guide software to newspapers, founded by Musk, his brother, and a friend. ![]() Musk financed his own university education, through a combination of scholarships, loans, and working two jobs alongside his studies.Īfter graduating, Musk moved on to a PhD programme at Stanford but made the decision to drop out just two days after the programme began to pursue his entrepreneurial visions. In 1997, Musk graduated from the University of Pennsylvania with a Bachelor of Science degree in economics and a Bachelor of Arts degree in physics, having transferred from Queen’s University in Kingston, Ontario. ”įrom a young age, Musk became a fan of Isacc Asimov’s books, gradually inspiring his interest in futurism while his father’s career path cultivated his eye for design. ![]() I was off making explosives and reading books and building rockets and doing things that could have gotten me killed. “ I just had a housekeeper who was there to make sure I didn’t break anything. In an interview with Rolling Stone, Musk recalls how, as a child, he saw little of his parents and spent most of his free time reading and messing around with projects, “ I didn’t really have a primary nanny or anything ,” Musk says. “I think it is possible for ordinary people to choose to be extraordinary.” – Elon MuskĮlon Musk was born in South Africa in the early 1970s to a mother who was a nutritionist and a father who was an engineer. But, how did Elon Musk become so successful? The Inspirational Success Story Of Elon Musk Understandably so, Musk is the idol and inspiration of many business leaders and entrepreneurs around the globe. In September of this year, Musk became the third person ever to amass a fortune worth $200 billion. ![]() Over the years, he has been compared to the likes of Steve Jobs and Henry Ford, and even Iron Man, with actor Robert Downey Jr allegedly modelling his portrayal of Tony Stark off of the SpaceX and Tesla CEO. Elon Musk is the billionaire entrepreneur and business magnate responsible for co-founding the cutting-edge companies PayPal, Tesla, and SpaceX, amongst others. ![]()
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