Elon Musk Net Worth Overtakes Bill Gate and Zuckerberg to be 2nd Richest in the World
Elon Musk is a South African born American Entrepreneur. He is the founder of Telsa and the co-founder of PayPal. According to Forbes, on 18th November 2020, he overtook Mark Zuckerberg to become the world’s 4th richest man in the world. This is due to his Telsa stocks’ sudden appreciation recently following the news that it will be added to the S&P 500 next month. Elon Musk net worth has appreciated to $76 billion due to a rise of 460% in Telsa stock in 2020. According to a Forbes report, his second company Space X is valued at $46 billion by investors in August 2020.
Elon Musk is a future-minded investor, which has been seen in the two companies he co-founded and founded. In his words; “You want to wake up in the morning and think the future is going to be great – and that’s what spacefaring civilization is all about. It’s about believing in the future and thinking that the future will be better than in the past. I can’t think of anything more exciting than going out there and being among the stars.” – Elon Musk.
PayPal was birthed in a time, when nobody believed it could be a successful e-banking system due to cyber-security issues. Today, what looks like a future impossible action is now a common practice in today’s world. The same can be said about his Space X company, which was birthed due to his desire to go to Mars.
Early Life Of Elon Musk
Elon Musk was born in Pretoria, South Africa, on 28th June 1971 to a South African father and a Canadian mother who later divorced. Elon desired to stay with his father, which he later regrets due to his abusive nature towards him; he described him in an interview with rollingstone.com as evil.
“He was such a terrible human being. You have no idea. My dad will have a carefully thought-out plan of evil,” he said.
Elon Musk was an avid reader with a growing interest in computing. His passion from playing video games led him to create his first video game by the age of 12, and later sold the code of the BASIC-based video game called Blastar to PC and Office Technology magazine for approximately $500. The conscious accumulation of Elon Musk net worth began.
He proceeded to the University of Pretoria for his tertiary education, which was cut short after five months to avoid mandatory service in the South African military. He later left for Canada, where he was admitted to Queen’s University in 1989.
Pains In Elon Musk’s Life
Uncle Remus in the Black American folktales quote that “you can’t run away from trouble. There isn’t no place that far” that means every human have his fair share of troubles; Elon Musk wasn’t different, as he had a life filled with lots of problems and had to even make decisions which some turned out bad.
Divorced: Elon Musk has been affected by four different divorces in life. First by his parent, and choosing to stay with the dad, which he later regretted. Secondly was between him and his high school lover, Justine which they have five children. Third and fourth respectively has been Talulah Riley and Amber Heard. All these divorces have kept scars in the heart of Elon Musk, which he admitted in his interview with rollingstone.com.
“If I’m not in love, if I’m not with a long-term companion, I cannot be happy,” he told Rolling Stone. “I will never be happy without having someone. Going to sleep alone kills me. It’s not like I don’t know what that feels like: Being in a big empty house, and the footsteps echoing through the hallway, no one there — and no one on the pillow next to you. How do you make yourself happy in a situation like that?”
Abuse from the father: One of the first pain felt by Elon Musk was the abuse he received from his father. In an interview with rolling stone, he described his father as evil and a terrible human to live with; he went further to show a lack of faith in a better future from Musk.
“He said rather contentiously that I’d be back in three months, that I’m never going to make it, that I’m never going to make anything of myself. He called me an idiot all the time. That’s the tip of the iceberg, by the way,”
Failure: Elon Musk has experienced many failures in life, which causes him to call it an option and major part of his innovation. Elon Musk net worth is a function of his ability to press despite several failures and crisis.
“Failure is an option here. If you’re not failing, you’re not innovating enough.”
Some of his major Failure includes; The first, the second, and the third explosion of his rocket during the launching in 2006, 2007, and 2008 respectively, but these didn’t stop him from planning the fourth in 2008 again successful. He experienced bankruptcy with his two major companies, Telsa and Space X, in 2008. An infographic of his life failure is in the article by Market Watch.
Lesson from Elon Musk Story
Hard work can make anything possible: Elon Musk has a belief system that works for him, which is that the amount of time you put in to achieve a task will determine your level of success at the same stimulated time as others.
“work hard like every waking hour, that is the thing I will say if you are starting a company, let’s do super math if somebody is working 50 hours and you are working 100 hours, you’ll get twice as much done in the year as their company.”
You don’t give up because you fail: See Failure as a part of life. “Failure is an option here. If you’re not failing, you’re not innovating enough.” Or, put another way, “There’s a tremendous bias against taking risks. Everyone is trying to optimize their ass-covering.”
Never let your vision die, no matter what. Telsa was on the verge of folding up in 2008. Elon Musk decided to go bankrupt in other to save it.
See disappointment as an opportunity: Allow your dreams to propel you. They will surely lead you to greatness: Elon Musk’s two companies SpaceX and PayPal were built from his plans to visit Mars and have an electronic banking system.
Let your dreams shape your plans and lifestyle: Elon Musk took the success of his company Telsa ahead of his personal life.
“The worst is over from a Tesla operational standpoint. But from a personal pain standpoint, the worst is yet to come.”
Don’t let people discourage you from your dreams: Elon Musk’s friend Adeo Ressi tried many tactics to prevent Musk away from his Mars Oasis vision (a project that involves sending a plant or a mouse to Mars.)
Never wait for convenience. Elon Musk net worth started accumulating from age12.