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    United Business OutlookUnited Business Outlook
    Home»Top Global News»Success story: How Elon Musk became CEO

    Success story: How Elon Musk became CEO

    Aditi GuptaBy Aditi Gupta4 Mins Read Top Global News February 19, 2022
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    Known as one of the most successful and debated men of the decade, Elon Musk the CEO of Tesla.

    Elon Musk, despite his enormous wealth and worldwide recognition.

    Is a man who is constantly striving for more, larger, and better.

    A millionaire entrepreneur and business leader who co-founded a number of cutting-edge enterprises.

    The business magnate appears to be capable of achieving anything.

    Born on June 28, 1971, in South Africa, and moved to Canada when he was 17 years old.

    He arrived in the United States as a transfer student at the University of Pennsylvania.

    Musk is a well-known tech entrepreneur who is best known for being the founder and CEO of SpaceX and the CEO of Tesla Inc.

    Tesla’s CEO is currently one of the wealthiest people on the planet, with a net worth of more than $199.9 billion.

    Over the years, he’s been compared to Steve Jobs and Henry Ford, as well as Iron Man.

    Actor Robert Downey Jr purportedly based his Tony Stark character on the SpaceX and Tesla CEO.

    Musk became the third individual in history to amass a wealth of $200 billion in September of this year.

    He is, understandably, the hero and inspiration of many business leaders and entrepreneurs all over the world.

    But how did Elon Musk achieve such a level of success?

    The Early Years

    Elon Musk has shown entrepreneurial inclinations since he was a child.

    His father, an engineer, and mother, a dietician, were both aware of his son’s needs.

    who accepted his son in a remarkable way because he recognized and nurtured his son’s love of technology.

    He got his first computer when he was ten years old and taught himself how to program. At the age of 12, the young boy created “Blastar,” a fully playable video game that was purportedly sold for $500.

    Elon Musk attended Pretoria Boys High School and graduated in 1988. To avoid South Africa’s obligatory military duty, he went to Canada in 1989 and enrolled at Queen’s University in Ontario.

    He only stayed at the University of Pretoria for five months after that. Musk went on to the University of Pennsylvania’s Wharton School of Business to earn a bachelor’s degree in economics.

    He too resigned after two days to pursue his entrepreneurial dreams.

    Musk co-founded Zip2, an IT company that licensed newspaper software for online city guides, with his brother Kimbal in 1995.

    Initially, the company did not attract many customers, but after a few years, local and national newspapers began to use Zip2 to provide extra services to their subscribers.

    With business partners Peter Thiel and Max Levchin, Musk created X.com, online financial services, and an email payment startup.

    In the year 2000, X.com merged with Confinity, an American software company best known for producing PayPal.

    Musk was named President and CEO of PayPal shortly before eBay bought it for $1.5 billion in 2001.

    Musk was eventually able to secure the financing he needed.

    As an equity investor with approximately 180 million dollars in shares, Musk eventually had enough money to leave the Internet business behind and focus on the engineering industry.

    Years of struggle and ascension: In 2004, Musk played a key part in the development of Tesla’s first electric vehicle, the “Tesla Roadster.”

    Tesla rose to become the world’s most popular and coveted vehicle brand under the guidance of such a powerful tycoon.

    According to Musk, 2008 was the worst year of his life.

    Musk was suffering losses as a result of the global crisis. He had to bail out Tesla from its tremendous debt while simultaneously going through a divorce.

    Tesla announced in January 2018 that Musk would not get an annual salary.

    His company would instead raise money based on the rising market cap it hoped to reach over the following ten years.

    Elon Musk’s SpaceX has signed many high-profile contracts with NASA and the US Air Force to manufacture rockets and execute military missions.

    Musk has been vocal about his desire to work with NASA on a collaborative mission to deploy an astronaut to Mars by 2025.

    Elon Musk has always been an aspirer of various space-age technologies, but it hasn’t always been a smooth journey for him.

    But he made the decision to ascend from there and never settle for anything less. “If something is important enough, you do it even if the odds are stacked against you.”

    – Tesla CEO Elon Musk

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    Aditi Gupta

    A writer and a photography enthusiast, with a zest for reading and traveling. Wants to bring change to the world, and when not editing, she spends her time on the guitar.

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