Twitter is now owned by Elon Musk which makes it the sixth business run by the world's wealthiest person. Along with two small start-ups, Neuralink and The Boring Company, Musk also oversees Tesla and SpaceX.
Elon Musk is most known for being the CEO and co-founder of Tesla, which he assisted in founding in 2003. Since then, four of the automaker's seven electric car models are now in manufacturing.
The Bloomberg Billionaires Index and Forbes rank Elon Musk as the richest person currently, with a net worth of $223 billion after he finalised his $44 billion acquisition of Twitter. Although, when Forbes published its Forbes 400, it estimated the number to be closer to $253 billion.
Musk made his first million dollars in the 1990s when he sold his first company, Zip2, for a little more than $300 million. Then he launched X.com, an online payment system that ultimately became PayPal. He traded X.com to eBay in 2002 for $1.5 billion.
How was Musk’s early life?
Musk was conceived by a Canadian mother and a South African father. Early on, he showed aptitude for programming and business. At age 12 he designed a video game and offered it to a computer magazine. Musk left South Africa in 1988 after getting a Canadian passport because he didn't want to participate in the country's mandatory military duty, which supported apartheid, and because he wanted to pursue better economic prospects in the United States.
He moved to the United States after spending two years learning at Queen's College in Ontario. There, he earned degrees in economics and physics before leaving for the country. He traveled to the west coast in 1995 to pursue a PhD in energy physics at Stanford University, but he left after just two days.
It was the height of the internet boom, and Musk thought the internet had more potential than physics. He founded his first business the same year. Elon eventually gained United States citizenship in 2002.
How did SpaceX and PayPal come to be?
He established Zip2, a service that offered maps and directories to online publications, in 1995. After the computer maker Compaq paid $307 million for Zip2 in 1999, Musk launched X.com, which eventually changed its name to PayPal, a firm that specialised in online money transfers. PayPal was purchased by the online auction site eBay in 2002 for $1.5 billion.
According to Musk, if life is to survive, mankind must become a multiplanetary species. The price of the rocket launchers, however, did not sit well with him. To construct rockets more cheaply, he founded Space Exploration Technologies (SpaceX) in 2002. The corporation's first two rockets, the smaller Falcon 1 (2006) and the larger Falcon 9 (2010), were both designed to be significantly less expensive.
The Boeing Company's Delta IV Heavy is its major competitor, although a successor rocket, the Falcon Heavy (2018), was built and can lift 53,000 kg into orbit, nearly twice as much for a fraction of the cost. SpaceX has introduced the Super Heavy-Starship system, which will take the place of the Falcon 9 and Falcon Heavy.
The Starship is a spacecraft built for creating bases on the lunar surface and on Mars, as well as offering quick travel between cities on Earth. The International Space Station's supply ship, the Dragon, was also created by SpaceX (ISS). Up to seven astronauts can fit on a Dragon spacecraft, which carried astronauts Doug Hurley and Robert Behnken to the ISS in 2020 on a manned voyage.
In 2020, the Super Heavy-Starship system started its initial test flights. Musk served as the company's CEO in addition to serving as the Falcon, Dragon, and Starship rockets' designers.
How did Tesla come into existence?
Musk has long been intrigued by the potential of electric vehicles, and in 2004 he contributed significantly to the funding of Martin Eberhard and Marc Tarpenning's electric vehicle startup, Tesla Motors (later renamed Tesla). Tesla unveiled their first vehicle, the Roadster, in 2006. It had a range of 245 miles (394 km) on a full charge. It was a supercar that could accelerate from zero to sixty miles per hour (97 kilometers per hour) in under four seconds, in contrast to the majority of prior hybrid vehicles, which Musk believed to be sluggish and boring. The company's first public offering in 2010 generated around $226 million in revenue.
Tesla unveiled the Model S car two years later, and auto journalists praised both its efficiency and appearance. The business received additional recognition for its 2015 launch of the Model X premium SUV. The Model 3, a less costly automobile that entered production in 2017, quickly rose to the top spot among all electric vehicles.
FAQs
Q. Did Elon Musk make a deal with Twitter?
A. Elon Musk struck an agreement to purchase Twitter for $44 billion, which might result in an increase in his daily income. He grew to be Twitter's largest shareholder before making a bid to purchase it. In his rationale for purchasing Twitter, he refers to free expression as "the basis of a functional democracy."
Q. What is the percentile increase of Elon Musk’s Net Worth in 2021?
A. In 2021, Musk's net worth rose by 78%. But he didn't have the best year financially this year. He increased his net worth by $140 billion in the year 2020. Musk announced that he anticipates paying $11 billion in taxes in 2021 when he relocated his company offices to Texas.
Q. How much did Musk gain for his first video-game sale?
A. It's noteworthy to note that although Elon Musk's net worth will surpass $200 billion in 2022, his initial earnings came from the creation of video games. In particular, at the age of 12 years old, he created the $500 video game Blastar with a space theme.
