Elon Musk is a fascinating person. He is the man behind Tesla, the company that introduced revolutionary electric cars into the market. He’s also the force behind SpaceX, which is a private organization that launches rockets into space and frequently collaborates with NASA.
Recently, Musk created special flamethrowers and sent a Tesla car into space. He’s a man who doesn’t hesitate to experiment and pushes the boundaries of tech innovation fearlessly. Here are some of the most inspiring things you should know about Elon Musk:
He Amassed His Fortune Before the Age of 30
Elon Musk became a millionaire when he sold one of the first companies, an online media-services establishment, to Compaq for $307 million. He was 27 years old at the time and ready to keep moving. He founded X.com, which eventually became the highly successful PayPal. Musk sold that company to eBay for $1.5 billion and earned a profit of around $180 million from that sale. He was already a success story before he established his two most significant projects; Tesla and SpaceX.
Both Tesla and SpaceX Were On The Verge of Failure
SpaceX and Tesla are both successful companies now, but they came close to failure just a few years ago. SpaceX tried to launch its flagship rocket three times and failed. He lost a considerable fortune during those six years and was down to his last $75 million.
It took around $90 million to build a rocket at that time, which means Musk could barely afford another launch. He was the sole owner of the company, so he didn’t have much support. Tesla was also in a rocky boat. Their first product, the $100,000 Roadster, had several quality issues and faced many recalls.
Fortunately, both companies recovered. The fourth SpaceX launch was a success, which impressed NASA enough to give the company a multibillion-dollar contract. Tesla also managed to brave public distrust and launch successful products. The third-generation Tesla cars are a big hit. This goes to show that everyone faces ups and downs and need to be persistent.
Musk Wants to Make Tesla Cars for the Masses
Tesla started with a premium product that most people couldn’t even dream of owning. They launched a fast Roadster with a price tag of $100,000, which put it firmly out of reach for most people. But Musk has a plan to create one luxury line, one mid-range line, and one mass consumption line. In 2016, Musk introduced the third generation Tesla vehicles with one model priced at $35,000.
Tesla has already made an impact on the automobile industry and has been a disruptive influence. Many other manufacturers are trying to follow in their footsteps and release their electric car models.
His Work Ethic Is Not One To Be Rivaled
Musk works hard and has an unbelievably busy schedule. According to an interview, he has only taken two weeks off in almost 12 years. He also has 100-hour workweeks and only sleeps around 6 hours every night.
Of course, not everyone can or should follow this example, but people can get inspired by his commitment to his dreams. Musk has many goals in mind, and his current success is just a starting point.
His Entrepreneurial Spirit Manifested Early
Elon Musk had a mind for business even before he was a teenager. At the age of 12, he developed and sold a game to a computer magazine for $500. That was big money for a child living in Africa back in 1984. It was a simple enough game named Blastar, and it wouldn’t get much attention now, but it shows that it is never too early to start. Ideas can come to you at any age.