The South African-born American billionaire is well known for his inventions at Tesla, Solar City, and Space X. His name is Elon Musk.
I will not write about his growing up, but will sum it up by saying that he self-educated himself on how to do lots of things and with that he was able to build his first company. The company basically introduced the newspaper industry to the digital world using mapping software and coding. It was the first online city listings. A few years later, he sold the company for 340 million dollars, this was in 1999 at the age of 28. The company was Zip 2. But he actually just began his journey.
Not so long after, He later founded PayPal which changed how people buy things, basically through electronic transactions. E-bay later bought the company for $1.5 billion in 2001 when he was thirty and being the largest shareholder, he walked away with over a $100 million.
Again, not so long after, he used his money to build a new company known as Space X. He was the sole person to fund it at its beginning. The whole idea was to get man to space within the shortest possible time at very sound economic levels. He later had NASA to award him a $1.5 billion contract.
Within this same period, he founded Solar City when he was at his annual family visit to a desert cultural activity. He gave the idea to his family and funded them being their CEO and chairman. Solar City later grew to become the largest solar service provider in the US.
Now came the first auto business setup in decades, Tesla Motors, with $6.3 million of his own money. It was to build electric cars at affordable rates for the market.
Now all these sound like running hot knife through butter, but he had his fair share of challenges. Tesla Motors had a lot of set back with ‘bad’ media reportage, battery problems, and at some point someone who was hired to help design a model left to set up another company with a similar idea. He lost a suit and was asked to pay $90 million. Solar X had about three rocket launch failures and at the point the company was near ‘bankruptcy’ at a time of the economic depression in America after 9/11. He had a US presidential candidate to describe his company as a bad investment by the government and that it will fail. He also had two divorces within this time of hardship in his business career.
Today he is worth 14 billion. My intention is not for you to see his success as analogous to his worth but rather although faced with challenges of quitting, and being hit by storms in his personal life he still prevailed.
My name is Kotey and within toughest times, let’s hold our heads high, thinking through thoroughly and asking for God’s guidance but always seek knowledge. Do not rush to be an entrepreneur but learn first, more importantly from others ahead of you.