Entrepreneurship

Elon Musk Biography, Business, Net Worth, Age And More

Elon Musk biography
Name: Elon Reeve Musk
Age: 50 years
Business: Tesla, SolarCity, SpaceX, Neuralink, Twitter
Net Worth: $277 billion

It looks like Elon Musk’s basket of businesses is never full. The founder of billion-dollar startups like SpaceX and Neuralink, Elon Musk, bagged yet another big name in his portfolio by buying Twitter for $44 billion. 

The business tycoon has been a disruptor in multiple industries. He is responsible for PayPal; he disrupted the electric car industry with Tesla; Musk even changed the Space technology with his startup SpaceX. He also acquired an immense amount of wealth, peaking at $340 billion in November 2021. 

Elon Musk has become and still reigns as the richest man in the world. But what are the business decisions that helped him reach the top? You can find that out in the following article.

How Did Elon Musk Become Rich?

Musk was a dropout from Stanford University. He started his business venture by co-founding x.xom; he moved on to Tesla and several other companies. Here is a brief business journey of Elon Musk that took him to the peak of his success. 

X.Com 

Musk Co-Founded X.com, an online financial service, in 1999. Users can pay online using the service provided by x.com. Later. X.com partnered with Confinity and was renamed PayPal in 2001. 

After PayPal became famous, Elon Musk used his 11.7% stake in PayPal to start his new business venture. Musk had 7,109,989 shares in PayPal. He is excited for PayPal to start new business ventures. 

SpaceX

SpaceX

Fascinated with space, Musk started his space company, SpaceX. He started it as a nonprofit organization in 2002 and invested $100. After a few failures, Musk’s spacecraft was a success. His success helped him land contracts with different organizations like ISS and NASA. 

Musk has a huge stake of 44% in SpaceX which has a net worth of over $100 billion. 

Tesla Motors 

Tesla Motors 

One of the biggest business ventures that made Elon Musk the billionaire he is was his investment in Tesla. In 2004, Musk was financing the electric car company, Tesla. In 2008, Musk moved from being a board member of the company to being the CEO. 

In 2010, Tesla launched its IPO on NASDAQ, and the initial price for the shares was $17. However, as of March 2022, the Tesla share price reached a massive $800. 

With an aim to promote transportation using sustainable energy, Tesla made massive changes. They made electric cars for mass consumers. Tesla also made a sports electric car named Tesla Roadster. 

Musk does not have any salary from Tesla; he owns 20% of the Tesla stock.

The Boring Company

The Boring Company

The main reason for the success of Elon Musk is that he invests in ideas. He came up with underground tunnels as a mode of transport in 2017 when stuck in traffic. After that, Elon musk founded the boring company. 

He plans to use the underground below roadways to make transportation easier and faster. The boring company will create tunnels giving vehicles extra paths to pass-through traffic. Elon Musk owns a 90% equity of the Boring company. The boring company intends to create underground pathways for vehicles while reducing the tunneling cost. 

Twitter 

Twitter

In 2021, Elon Musk revealed that he owns a stake in Twitter, but the exact percentage was unknown. Earlier in 2022, he revealed that he owns a 9.2% stake in Twitter

All that was right until he shocked the world by announcing a total buyout of the Twitter company for the price of $44 billion. When asked, Musk replied that he wanted to endorse the right to speech and make Twitter better than it was before.

Bitcoin 

Bitcoin 

Elon Musk is a big influencer when it comes to cryptocurrency investment. He owns a massive amount of 43,000 Bitcoin. Cryptocurrency investors religiously follow his Twitter for investment ideas. He also promoted dogecoins through his tweets. 

Frequently Asked Questions (FAQs)

I think you got to know about all the businesses of Elon Musk from this article. If you have any further questions, you may relate to the following ones. 

1. Who Are The Top Ten Richest Men In The World?

The Business magazine Forbes releases a list of billionaires around the world. According to this list, we can judge who is the richest person in the world. Elon Musk currently sits at the top of that list, with some other notable richest persons following him. Here is a list of those persons –
i. Elon Musk. 
ii. Jeff Bezos.
iii. Gautam Adani.
iv. Warren Buffett.
v. Bill Gates.
vi. Larry Page.
vii. Sergey Brin.
viii. Larry Ellison.
ix. Steve Ballmer
x. Mukesh Ambani

2. How Did Elon Musk Get Rich So Quickly?

Musk was a brilliant student. But what is more interesting is his business acumen. He co-founded PayPal at the age of 27. Musk never stayed complacent with his success in PayPal. After exiting PayPal to start his own business venture and created giant companies like SpaceX, Tesla, SolarCity, and so much more. 

3. Did Elon Musk Grow Up Rich?

Elon Musk did not grow up rich. But he was from a family that supported him with a healthy upbringing. All rumors about Elon Musk growing up in a wealthy company are false. Musk grew up in a culturally rich and capable family. But all the wealth musk acquired was through his own hard work and business caliber. 

4. Where Did Elon Musk Get His Money From Originally?

The first-ever business venture of Elon Musk was his investment in Zip2 in 1995. Zip2 was an online local business directory. In 1999 it was sold to Compaq Computer Corp for $307 million. Musk earned $22 million from this sale. Later he invested in companies like PayPal, Tesla, and so on.

Bottom Line

Musk is a great investor and creator of innovative business ideas. His proliferation across multiple industries is the result of his adept business acumen. He has made so many good decisions with PayPal, Tesla, SpaceX, and other different businesses he is associated with. 

I hope that the article above helps you with the necessary information you are looking for about Elon musk. Also, If you have any further queries, You can ask us in the comment box.

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Shahnawaz Alam

Shahnawaz is a passionate and professional Content writer. He loves to read, write, draw and share his knowledge in different niches like Technology, Cryptocurrency, Travel,Social Media, Social Media Marketing, and Healthcare.

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Social Entrepreneurship

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richest person in the world

Top 20 Richest Person In The World

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Elon Musk Age:  51Nationality: American Net Worth: $240.7 BillionImportant Assets: SpaceX, The Boring Company, Twitter.Famous For Tesla, SpaceX, Twitter ownership Elon Musk is best known as the founder of Tesla. He is responsible for PayPal. It was his startup X.com that later became known as PayPal. Musk revolutionized the electric vehicle industry with his car manufacturing company, Tesla. He is the richest person in the world. He also invented his zero-profit organization named SpaceX. Musk is also the owner of SolarCity. Elon Musk also owns Neuralink, The Boring Company, Open Ai, and Tesla Energy are some of his business ventures. Recently, Musk also acquired Twitter. 2. Jeff Bezos Age: 59Nationality: AmericanNet Worth: $154.9 BillionImportant Assets:  Amazon, Blue Origin, The Washington PostFamous For Amazon Amazon, founded by Jeff Bezos, is the pioneer of all eCommerce platforms. Jeff Bezos has also acquired the place of the richest person on the planet. Bezos started his eCommerce venture with the intent to sell books online. Although Bezos pitched the idea to the head of the prestigious book store named D.E Shaw, his ideas were not well received. Bezos then took the risk to start his own eCommerce platform we now know as amazon.  Bezos is the former richest person in the world. 3. Bernard Arnault Age:  74 Nationality: FrenchFamous For LVMHImportant Assets: Moelis & Company equity, Hermès equityNet Worth: $231 billion Bernard Arnault is the chairperson of LVMH. Several famous fashion brands are known as  LouisVuitton, and Hennesey is under his ownership. Most of his wealth comes from his stake Christian Dior SE.  This holding company controls 41.35% of the whole LVMH. 4. Bill Gates Age:  67 Net Worth: $119.3 BillionNationality: AmericanFamous For MicrosoftImportant Assets: Cascade Investment LLC Bill Gates’ love for computers bloomed into the largest software company the world has ever seen. He and his lifelong friend Paul Allen developed the software company we know as Microsoft.  Bill Gates remained the richest person in the world through the virtue of Microsoft.  Aside from being the richest man on earth, Gates is also known for his charitable work and as an environmentalist. 5. Gautam Adani Age:  61 Nationality: Indian Famous For Adani groupset Assets: Adani Ports & Special Economic Zone, Adani Green Energy, Adani Total GasWorth: 55.7 billion Important Assets: Adani Ports & Special Economic Zone, Adani Green Energy, Adani Total Gasimportant The founder of Adani Group, Gautam Adani, became listed in the Forbes magazine as the fourth richest man in the world surpassing Bill Gates. But currently (1st June 2022) he ranks as the 7th richest man on the planet. Adani is close behind Elon Musk, the richest person in the world. 6. Warren Buffet Age:  92Net Worth: $117.4 Billion Famous For Business and PhilanthropyImportant Assets: Berkshire HathawayNationality: American The master investor Warren Buffet returned the first tax of his life at the age of 14. Buffet owned and held the stocks of underdeveloped companies for the long term and acquired immense wealth that way. In 1962, he acquired his first share of a company named Berkshire Hathaway, and he became the major stakeholder of the company in 1965. 7. Larry Page  Age: 50 yearsNationality: AmericanFamous For GoogleNet Worth: $119 BillionImportant Assets: Alphabet stakes Larry Page is the founder of the most used internet search engine named Google. He founded Google in 1998. Now it is the most dominant search engine in the world. As of 2015, Google became a subsidiary of  Alphabet, a holding company. 8. Sergey Brin Age: 50Nationality: American/SovietFamous For Google President of technologyNet Worth: $106.2 BillionImportant Assets: 6% Alphabet stake Another rich person in the world is Sergey Brin, the owner of the 6% stake in Alphabet. He became the president of the tech at Google in 2001. After Alphabet was established he held the same post at google and acquired a massive amount of wealth. 9. Mukesh Ambani Age: 65 years   Nationality: IndianFamous For Reliance IndustryNet Worth: $98 billionImportant Assets:  Reliance assets Son of Dhirubhai Ambani, Mukesh Ambani is the owner of Reliance industries. The textile mill that Dhirubhai Ambani opened in 1966 has been listed on the stock exchange of Mumbai since 1977. That is where the wealth of Reliance started to grow, making Mukesh Ambani one of the richest persons on the planet. Mukesh Ambani might not be the richest person in the world but he has acquired an immense amount of assets. 10. Steve Ballmer Age: 66 years Nationality: AmericanFamous For Microsoft CEONet Worth: $89 billionImportant Assets: 4% Microsoft assets Ballmer succeeded Bill Gates as the CEO of Microsoft from 2000 to 2014. He also owns a 45 stake in the Microsoft company. He is also the owner of the Los Angeles Clippers basketball team for $2. 11. Larry Ellison Age: 79Nationality: AmericanFamous For Software company OracleNet Worth:  $139.0 BillionImportant Assets: 35% share of Oracle Larry Ellison is the co-founder and the chairman of the big software company named oracle. His immense wealth is the result of his 35% share in the company. Aside from being the CEO of Oracle, Ellison is also the technology officer of the company. 12. Carlos Slim Helu Age: 82 Nationality: MexicanFamous For América Móvil, telecom company Net Worth: $81 billion importantAssets: América Móvil, 17% of The New York Times The richest man in Mexico is Carlos Slim Helu. He and his family control the biggest mobile telecom named América Móvil. He also has a stake in a Mexican mining and construction group. He also owns 17% of The New York Times. 13. Mark Zuckerberg Age: 38Nationality: AmericanFamous For Facebook, MetaNet Worth: $67.7 billionImportant Assets: 12% Facebook stock Mark Zuckerberg is known for his creation of the social media app named Facebook ( currently termed Meta). Meta also has different platforms like Instagram, Whatsapp, and Messenger under its control. Elon Musk has surpassed Zukerberg as the richest person in the world. But Zuckerberg still is the founder of one of the first social networking companies in the world. 14. Michael Bloomberg Age: 81Nationality: American   Famous For Co-Founder of Bloomberg LP, Mayor of New York CityNet Worth: $96.3 BillionImportant Assets: 88% Bloomberg LP The co-founder of the financial information company named Bloomberg LP is Michael Bloomberg. He owns 88% of the company’s stake. Mr. Bloomberg has also remained the Mayor of New York City for 12 years. 15. Zhong Shanshan Age: 67Nationality: ChineseFamous For CEO of Nongfu SpringNet Worth: $65 billionImportant Assets: 84% of Nongfu Spring A school dropout, Zhong Shanshan is the chairperson of a bottled water company named Nongfu Spring. The company got listed in the Hong Kong stock in 2020. His early life was spent as a construction worker. He is not the richest person in the world, but his growth is inspiring for business people. 16. Jim Walton Age: 75Nationality: AmericanFamous For Board Member of Walmart, Arvest Banks ChairpersonNet Worth: $67.7 BillionImportant Assets: Walmart, Arvest Bank. The youngest son of the founder of Walmart is Jim Walton. He is also the chairman of his family’s bank named Arvest Bank. He also used to be one of the board members of Walmart. His immense wealth from Arvest Bank lists him way behind Elon Musk as the richest person in the world. 17. Alice Walton Age: 75Famous For Crystal Bridges Museum of American ArtNationality: AmericanNet Worth: $66.0 Billion Important Assets: Walmart share Sister of Jim Walton and the only daughter of the Walmart founder Sam Walton, Alice is a collector and curator of arts. She is the founder of the Crystal Bridges Museum of American Art. 18. Rob Walton Age: 77   Nationality: AmericanFamous For Walmart chairmanNet Worth: $59 billionImportant Assets: Walmart stock Rob Walton took over for his father as the chairperson of Walmart in 1992. All the Walton siblings own half of the Walmart stocks. The wealth of Walton may not be enough to make him the richest person in the world. But his wealth is near many big named billionaires. 19. Changpeng Zhao Age: 46Nationality: CanadianFamous For Binance exchangeNet Worth: $13.1 Billion Changpeng Zhao, also known as CZ, is the founder of the biggest cryptocurrency exchange in the world. Finance is the biggest Cryptocurrency exchange in the world, and CZ is the billionaire with a $17 billion net worth. 20. Francoise Bettencourt Meyers Age: 70  Nationality: FrenchFamous For L’Oreal company CEO, the richest woman in the worldNet Worth: $84.9 BillionImportant Assets: 33% L’Oreal stock Francoise Bettencourt Meyers may not be the richest person in the world, but she is the richest woman in the world. She is the granddaughter of the founder of the L’Oreal company. She and her company hold 33% of the company. Frequently Asked Question (FAQs) If you are looking for any further queries, here are some questions and answers – Q1. Who Is The No. 1 Richest Person In The World? Ans: Elon Musk, the confounder of Tesla and the founder of  SpaceX, is the number one richest person in the world. Before him, the position was held by Bill Gates and Jeff Bezos. Q2. Who Is The 7 Richest Person In The World? Ans: Here are the seven richest people in the world –i. Elon Muskii. Jeff Bezosiii. Bill Gatesiv. Warren Buffettv. Bernard Arnaultvi. Larry Pagevii. Sergey Brin Q3. Who Is The Richest Indian? Ans: Gautam Adani of the Adani group and industries is the richest person in India. His business with Adani groups has helped him acquire $112 billion. Some other billionaires from India are – Mukesh Ambani, Shiv Nadar, Lakhsmi Mittal, etc. Q4. Why Is Elon Musk So Rich? Ans: The strong business acumen, innovative ideas, and the will to do disruptive industrial work are the main reason behind Elon Musk’s wealth. Final Words The list of the richest people in the world keeps changing. If you look at the list a year or two ago, there was another person sitting at the top of the list. The current list of the richest person in the world is topped by Elon Musk, the founder of Tesla, SpaceX, and several other companies. He is succeeded by Jeff Bezos, Bernard Arnault, Bill Gates, Gautam Adani and so many more. I hope the list above helps you with the information you need. 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Entrepreneurial Characteristics

10 Must-Have Entrepreneurial Characteristics

Entrepreneurs build and create something new out of their dreams and vision. They have a passion for creation and can quickly identify an unidentified potential. Let's Learn About The Top 10 Entrepreneurial Characteristics. They can see a need that has yet to be addressed. They use their entrepreneurial characteristics to build upon their dreams. Thanks to their different entrepreneurial qualities and skills, an entrepreneur can become successful. But we cannot talk about entrepreneurship as if it is something people are born with.  One can exercise different entrepreneurial traits to become the type of entrepreneur they want to become. This article documents a few of the necessary features or entrepreneurial characteristics you can practice. If you're going to find them out, please keep reading.  Creativity With entrepreneurship comes the creative zeal that makes an entrepreneur innovative something out of the blue. So, one entrepreneurial characteristic is always being creative and thinking out of the box. When someone is creative, they have more ideas to act upon. Indeed, not all ideas might be fruitful, but with failure comes experience, and experience can lead to success. The creativity of an entrepreneur not only helps them to come up with a new solution but also identify a problem that gets generally overlooked. They can easily develop a product or service solution in their niche market.  Professionalism Professionalism is one of the fundamental entrepreneurial characteristics that not only shape one's business but the community around it. An entrepreneur's professional behavior with their clients and their employees can go a long way and shape a work culture and a productive and forward-thinking environment.  Atop their professionalism in handling things, these entrepreneurs are also well disciplined, and they deliver what needs to be delivered on time. Their discipline can help organize and motivate others. This way, they can reach their targets and motivate others to do the same for themselves.  Also, their reliability is one of the entrepreneurial characteristics that keep the teams motivated in terms of achieving their goals. Employees feel more at peace when the entrepreneur is reliable and keeps their promise.  Taking Risks, But Not Risking It All Another entrepreneurial characteristic of entrepreneurs is to take risks. They are skilled at taking risks and venturing into the unknown. They are often using different unorthodox means to do something. Also, their capability to take a risk for different ideas when nobody else believes in them is also admirable. A good entrepreneur understands the degree of risk and the possible reward if they are successful.  Indeed it is passionate to take a risk and travel the unchartered territories. But a good entrepreneur always has a plan B when they are risking their money and time. They are only sometimes risking it all.  As an entrepreneur, one must always evaluate the risk before taking it. One must analyze the consequences of a risk taken. Passion For Entrepreneurship Entrepreneurship is also a passionate ambition one usually strives towards achieving. One of the most critical entrepreneurial characteristics is to have passion for what an entrepreneur is doing. They need to make passion the driving force for their objectives.  Entrepreneurs are ambitious, professional, and creative, and they have the passion to pursue what they are seeking. Regular hours of work ensure growth, while extra hours make a difference. When an entrepreneur has the passion to put in extra hours and extra work, they are on their path to winning the game.  Planning To Win There is a saying called, "If you fail to plan you are planning to fail." an entrepreneur cannot win without a plan of action. One of the most critical entrepreneurial characteristics is to have an active plan. There must be a vision, passion, and creativity to back it up. But an entrepreneur needs a plan to structure their vision.  This planning means creating a strategy for the whole vision in time and working ahead of time. Their planning helps them with the optimum use of their resources at hand, progressing towards success and facing any crisis while withstanding any possible damage that could incur.  So, planning is not only an entrepreneurial characteristic; it is an element of entrepreneurship.  Knowledge An entrepreneur must have knowledge of what they are trying to do. More than passion, ideas, and creativity is needed to erect something paramount out of it. An entrepreneur must know their respective niche to build on their dream. This knowledge will not only help them build but also solve their problems and tackle crises. An entrepreneur has always to tackle difficult circumstances and difficult market landscapes. They have to comply with the changing market requirement they are operating under. That is why it is essential to know the ins and outs of the market.  It is always necessary to explore the strengths and weaknesses of an entrepreneur and add more knowledge to their arsenal. A willingness to always learn is one of the important aspects of being an entrepreneur.  Social Skills One of the must-have entrepreneurial characteristics is to have efficient social skills. Everyone can have different levels of social skills, but one can always work on them. Good social skills help an entrepreneur – Build good professional relationships. Help with talent sourcing and hiring. Formulation of team strategy. Openness To New Ideas Entrepreneurs can always be flexible and stuck doing something everybody else does. They are always open to new ideas and perspectives. An openness of their mind will help them identify opportunities and scenarios that can actually help them. This is not just for identifying more unique and better opportunities; an openness of mind on the entrepreneur's part also helps them better celebrate their victories and accept their defeat.  With an open mind, an entrepreneur addresses a failure as one of the trials that did not work out. They accept failure, but they do not let it stop them from pursuing their entrepreneurial goals. Entrepreneurs try to learn from every single opportunity around them. This is called accepted learning, and a good entrepreneur agrees upon the possibility of learning from every opportunity and people around them.  Empathy Having high emotional intelligence is one of the least discussed values of an entrepreneur. They are aware that the people working for them can make the business a success. A good entrepreneur takes the strengths and weaknesses of their employees into account and addresses them with empathy. An entrepreneur ensures to create a happy environment for the employees to come to work. Empathy makes it possible.  A 'For Audience/Customer' Mindset Entrepreneurs know that what they do is meant for a certain set of customers. So, they must understand the needs and the pain points of their customer and tailor their business /service/ products accordingly. Apart from having a brilliant idea or an imagination, having a 'customer first' approach can make an entrepreneurial venture a success.  Bottom Line Be it a small business or a unique and large entrepreneurial venture, one needs to have the different entrepreneurial characteristics mentioned in this article. Creativity, passion, professionalism, out-of-the-box thinking, empathy, and the rest of the traits not only makes one a good entrepreneur. It makes one a better human being as well. Read Also: How To Become An Entrepreneur? - Steps To Follow What Are The Different Types Of Entrepreneurship? – Take A Look Business Entrepreneurship  – What Should You Know Before You Start A Business In 2023?