Elon Musk is a successful entrepreneur who has risen to prominence as the head of two separate companies: electric vehicle manufacturer Tesla Inc. (TSLA) and private spaceflight enterprise SpaceX. Musk was an early investor in a number of Internet businesses, helped build PayPal (PYPL), and in October 2022, he struck a deal to take Twitter Inc. private.
The likes of Steve Jobs, Howard Hughes, and Henry Ford have been cited as inspirations for his success and charisma. In October of 2022, he was reported to have a net worth of $212 billion, making him the wealthiest person in the world. It wasn’t until 2021 that Musk surpassed Jeff Bezos as the richest person in the world.
What Ethnicity Is Elon Musk?
Both Elon’s mother and father came from South Africa, although Elon’s mother’s family roots are in Canada. He is not an American citizen, despite having become a US citizen in 2002. Maye Musk, Elon Musk’s mom, was born in Saskatchewan, Canada, but raised in South Africa, where she has worked as a model and nutritionist. Errol Musk, his father, owns a stake in a diamond mine near Lake Tanganyika in Zambia.
Among his many accomplishments, he is a South African electromechanical engineer, pilot, sailor, consultant, and property developer. One of South Africa’s three major cities, Pretoria is where Elon Musk entered the world. It serves as the seat of government for South Africa and is also where all embassies are located. The legislative capital is located in Cape Town, while the judicial capital is in Bloemfontein.
He attended the University of Pretoria before moving to Canada with his mother when he was 17 years old. Two years later, he enrolled at Queen’s University and later attended Penn for undergraduate studies in economics and physics. He moved to California in 1995 with the intention of attending Stanford University but ultimately decided to pursue a profession in business. Together with his brother Kimbal, he established the web-based software company Zip2.
Why is Elon Musk So Famous?
The billionaire was born in South Africa to Canadian and South African parents and is the proud parent of 10. According to information compiled by Bloomberg, the value of his share of the privately held company SpaceX is close to $40,3 billion. Elon Musk‘s tendency to tweet items that can impact the market and excite interest in his companies is not looked upon favorably by the U.S. Securities and Exchange Commission.
In March, after he revealed that he owned Bitcoin, Ether, and Dogecoin but had no plans to increase their value, the value of each cryptocurrency spiked temporarily. Bitcoin, which had dropped as much as 2.9% before Mr. Musk’s statement, recovered some of its losses before falling again. Dogecoin grew by 3.8%, while Ether recouped some of its gains and ended out up 2.3%.
After dropping over 7% in earlier trade in November after Musk asked his 80 million Twitter followers if he should liquidate 10% of his stake in the electric vehicle company, Tesla shares plunged as low as 4.5% on the New York Stock Exchange on Thursday. Almost six in ten (58%) of the more than three and a half million Twitter users who participated in the survey said “yes.”
In the 1990s, Elon Musk sold his first startup, Zip2, for $300 million, making him his first million. After that he started an online payment service called X.com, which would later evolve into PayPal. Back in 2002, he made $1.5 billion from the sale of X.com to eBay.
Twitter is the worst!
But also the best.
— Elon Musk (@elonmusk) November 8, 2022
Did Elon Musk Ever Go Missing?
Musk, who is known to post frequently, is not missing in action; he is simply taking a break from social media. Before Musk went offline for a while, he lamented the disastrous progress of the Twitter deal. Amidst widespread concern for the well-being of their hero inventor, concerned fans reported sightings of Elon Musk at the Tesla Gigafactory in Texas.
Musk didn’t seem bothered by the breakdown of his most recent commercial deal, instead choosing to focus on his work. Some business experts speculated that Musk was simply too busy at the end of the year, when Tesla is working hard to fulfill the crucial shipping and sales statistics that their CEO expected, to update his social media accounts.
Elon’s company, Space Exploration Technologies Corporation, was also launching a rocket at the same moment. In the midst of all that professional upheaval, the millionaire also celebrated his 51st birthday. It’s incredible that Elon Musk manages to squeeze in social media updates on top of his already hectic schedule of running so many of his companies.
As a man who is motivated by efficiency, Musk is likely to temporarily eliminate the time of day that yields the least results. Musk has returned to social media despite his ongoing economic dispute with Twitter. Not even a horrible business agreement could keep Musk from sharing his opinions.
Is Elon Musk Still Working on the Hyperloop?
Elon Musk is persistently working on the Hyperloop, despite the fact that the Boring Company project has been progressing at a glacial pace for some time now. Musk first tweeted about his idea for the Hyperloop in 2013 while he was becoming agitated in traffic. In its early conceptual stages, the Hyperloop was supposed to be a high-speed rail line connecting all of California.
Instead of a single locomotive, the Hyperloop would use a network of small passenger pods that would be propelled through a 13-foot-wide metal tube pressurized to resemble a vacuum. Musk claims that the Hyperloop will be able to transport passengers at a speed of roughly 760 miles per hour, given that it will not experience the same level of friction as regular bullet trains.
It would take a traveler around 35 minutes to get from Los Angeles to San Francisco if they used this route. Elon Musk compares the Hyperloop project to the open-source Linux OS. Inventor George Medhurst proposed using air as a mode of locomotion in 1799, and Isambard Kingdom Brunel, who developed the first transatlantic steamship with propellers, independently proposed the notion of the rail system in 1844, thus Musk isn’t the first to suggest it.
Numerous companies, like Virgin Hyperloop, have copied Musk’s idea in the same way that he has borrowed notions from historical figures. In 2020, after a Virgin Hyperloop employee had had a ride on the test track, the company presented its Hyperloop technology to the public. The Hyperloop was originally tested in 2016 by the Boring Company, albeit on a smaller track.
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