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Success From Scratch

Success from Electricity

 
Posted July 3rd, 2014 @ 6:44am



Elon Musk was born in South Africa in 1971.

His father was an engineer and his mother a nutritionist.

A huge fan of computers, by the age of 12 he had written the code for his own video game, a space game called Blastar.

As a preteen he sold the game for a profit at $500 dollars.

In 1995 he came to California with a goal to commercialize electric vehicles.

He got a scholarship to the University of Pennsylvania’s Wharton School of Business.

There he earned his undergraduate degree in economics and physics.

Then he went on to Stanford University.

He ended up completing a graduate studies degree in applied physics and materials science.

His plan was to create ultra-capacitors with enough energy to power electric cars.

This goal of commercializing the electric car would take lots of capital.

But, just two days after being at Stanford, he dropped out.

He was inspired to go on a wealth-building journey between 1995 and 2002 to earn the funds he needed to make his goal a reality.

He thought a graduate degree would not get him any closer to achieving his goals.

For him, he may have been right.

In 1999, he sold Zip2 to Compaq for $307 million dollars!

Out of that amount, Musk's share was $22 million dollars.

He had become a millionaire at the age of 28.

That same year Musk started his next company.

He then went on to start the company X.com with $10 million dollars from the sale of Zip2.

X.com was an online bank.

Musk is credited with inventing a method of securely transferring money using a recipient's e-mail address.

In 2000, X.com bought a company called Confinity, which had started an Internet money-transfer process called PayPal.

In 2002, eBay bought Paypal for $1.5 billion.

Elon made $165 million dollars in eBay stock from the deal.

He then went on to start SpaceX aka the Space Exploration Technologies.

It was after all of those initial successes that he went on to create Tesla Motors.

To read more about Elon Musk, go to TESLA

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