ELON MUSK: INVESTING IN THE FUTURE
If there is any one entrepreneur today that embodies the future, it's Elon Musk. According to Valuewalk, this "self-made billionaire Elon Musk can seemingly do it all. At just 46, the entrepreneur has launched a number of successful companies, including Tesla, SpaceX, PayPal and the Boring Company and is now worth over an astonishing $20 billion."
Where does Musk invest his own money? The future. After selling PayPal and walking away with hundreds of millions of dollars, Musk took some big chances. Envisioning a future with electric cars, "Musk had invested heavily in Tesla Motors... joined the board in 2004 after leading the company’s series A funding, and became CEO in 2008. By the age of 32, he had invested $70,000,000 into the company in a bid to develop, manufacture and sell high-performance, fully electric vehicles."
*This article comes to us courtesy of EVANNEX (which also makes aftermarket Tesla accessories). Authored by Matt Pressman.
But Musk's investment in clean energy didn't end there: "Another notable investment is in SolarCity. Founded in 2006 by Elon’s cousins, SolarCity one of the largest producers of solar panels in the world. While Musk only personally got involved when his company SpaceX bought $90 million worth of stock in the venture, his involvement took the company miles ahead to a point where he decided to acquire it all together, at an estimated $2.5-$3 billion through Tesla."
Above: A look back at Musk's first companies that inspired his bold investments into the future (Youtube: Futurism); Note: Tesla Model S has gotten even quicker, recently clocking 0-60 MPH at 2.28 seconds
Musk also invested more into the transportation sector via: "the Boring Company. The idea behind the Boring Company is to revolutionise the way Americans travel, by connecting nearby cities with tunnels underneath. The goal with The Boring Company is to reduce the cost of tunneling while also speeding up production. Musk has hopes that The Boring Company will be the key to unlocking hyperloop travel... To fund the project, Musk started selling hats. On December 16, 2017, Musk announced he had sold 42,000 Boring Company hats."
The most out-of-this-world investment is SpaceX, "where Elon Musk has invested the most. The California-based rocket and spacecraft manufacturer was founded by Musk himself in 2002. The company, which was started with $100 million from the sale of PayPal, is now worth over $21 billion... The company has been a remarkable success, both financially and technologically, and has made space travel exciting again. At the end of last year, SpaceX had successfully landed 19 rockets and next steps are to take humans to Mars by 2024."
Between electric cars, space travel, solar energy, and underground tunnels, Musk has accumulated billions with his bold plans to transform the future. Where will he invest next? Check out this infographic from RS Components for more...
*Editor’s Note: EVANNEX, which also sells aftermarket gear for Teslas, has kindly allowed us to share some of its content with our readers. Our thanks go out to EVANNEX, Check out the site here.