Successful Entrepreneur Report: Elon Musk

Introduction

This report is about the entrepreneur Elon Musk, the report will discuss how he became the person he became today and what helped him be successful today, it will seek to discover why he became an entrepreneur and where he got his education. Elon Musk is important because he creates advanced technology, and has became a millionaire in his 20’s. I choose Elon Musk because his aim wasn’t to be entrepreneur in the first place. However, he wanted to work as an engineer and work with tech. As he said in one of his interviews: “It wasn’t about being wealthy, it was just from the standpoint of wanting to be part of the Internet.” 

Body

Elon musk was born on 28th June 1971, in Pretoria South Africa. He started going to the Waterkloof House Preparatory School, and then he moved to another school and graduated there, which was the Pretoria Boys High School. He then went to Queen’s university and then transferred to The university Pennsylvania, where he took two majors which physics and economics. When Musk was 24 he did his PhD in physics at the Stanford University, however he left the program just two days later, because he had huge entrepreneurial ideas in technology. His father, Errol Musk was a South African successful engineer. On the other hand, his mother, Maye Musk was a Canadian model, and the oldest woman to be on the cover girl campaign. At some point in her life she worked five different jobs in order to support her family., Elon musk started his first company with his brother Kimbal Musk in 1995 which was Zip 2 corporation. Which was providing newsletters and magazines. In 1999, a computer corporation bought it with almost $340 million. Which helped Elon and Kimbal Musk create X.com, which is a money transaction service, which then was called PayPal. However, in 2002 eBay bought the company. Afterwards, in 2002 Elon musk created SpaceX which was a space exploration technologies corporations, from the money from his prior business. And NASA actually had plans with the company to transport cargo to the international space station. In 2003 he created tesla motors which sells electric cars and is the most successful electric car in the market. 

In 2004 Elon musk founded the Boring Company, which started as a joke, but then became a huge success by selling merch. Elon musk financial state is increasing by time, in 2014 he earned $35,560, in 2015 he earned $37,584, in 2016 he earned $ 45,936, in 2017 he earned $49,920. In 2018 he earned $2.3 billion, in 2019 he earned $7.4 billion. Elon musk has shares in tesla motors that equals approximately to 18.5% of the company shares. Tesla’s current share price is $793.12. the types of industries Elon Musk Companies are in the Manufacturing and Technology industries. And one of Elon Musk’s competitors are Blue origin and United Launch Alliance which are huge competitors of SpaceX, and Ford and Honda motors are considered as huge competitors for tesla motors. Elon Musk has certain characteristics that helped him be a successful entrepreneur, which are: he is very hard working and works for almost 100 hours per week. He also is a huge risk taker, since he sells new products and does not know if the market will accept or not, he also prefers to standout from others, for example creating electric cars for a big market. He also self reflects and listens to other people’s feedback which helps him develop and create something better. He also has an attitude that is positive and has a mindset that he is always learning and always asking questions. Elon musk current role is an entrepreneur and the CEO of SpaceX and Tesla Motors. He also has a lot of projects and ideas for the world, for example the tunnels in USA which will decrease the traffic, and the Hyperloop, he also aims for humans to reach to Mars.

Conclusion

In conclusion, Elon Musk is a very successful entrepreneur, and started doing what he loves which is anything related to physics, any successful business starts with doing something you love. He currently has three companies, SpaceX, Tesla Motors and The Boring Company. He is the market leader in the electric cars industry.

Works cited

1. Musk, Elon. “Elon Musk.” Biography.com, A&E Networks Television, 12 Dec. 2019, www.biography.com/business-figure/elon-musk.
2. Blystone, Dan. “Elon Musk’s Early Years.” Investopedia, Investopedia, 29 Jan. 2020, www.investopedia.com/articles/personal-finance/061015/how-elon-musk-became-elon-musk.asp.
3. Krasny, Jill. “The Real Reason Elon Musk Became an Entrepreneur.” Inc.com, Inc., 6 Mar. 2014, www.inc.com/jill-krasny/elon-musk-tesla-motors-stanford-business-school.html.
4. News, Bloomberg. “Elon Musk Bought $10 Million of Tesla Shares on Valentines Day.” 2020.
5. O’Kane, Sean. “Tesla’s Record 2019 Has Bought It Some Breathing Room.” The Verge, The Verge, 29 Jan. 2020, www.theverge.com/2020/1/29/21113987/tesla-q4-2019-earnings-results-profit-revenue-model-3.motors, tesla. 
6. “TSLA Stock Price: Tesla Inc. Stock Quote (U.S.: Nasdaq).” MarketWatch, 2020, www.marketwatch.com/investing/stock/tsla.tweetz, Thesheetz. “Just Revealed SpaceX Lawsuit Alleges Air Force ‘Wrongly Awarded’ Billions to Rocket Competitors.” CNBC, CNBC, 22 May 2019, www.cnbc.com/2019/05/22/spacex-lawsuit-challenges-air-force-rocket-awards-to-competitors-including-jeff-bezos-blue-origin.html.
7. Success, Insights, and seo [email protected] “Successful Personality Traits: Learn from Elon Musk [ Inspiring CEOs ].” InsightsSuccess, 28 June 2019, www.insightssuccess.com/successful-personality-traits-learn-elon-musk/.science, live.