Elon Musk

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Elon Musk

Source: Biography.com

With everything this guy has been doing recently, he is someone we need to know about.  Estimated to be worth around $9.1 billion (Forbes), Musk is one of the few elite CEOs out there who takes a salary of $1 dollar a year (New Republic), along with Mark Zuckerberg.  What is he the CEO of?  Why does his name sound so familiar?  Well, he is the CEO and founder of Tesla Motors and the brains behind such operations as SpaceX and Paypal.  Essentially, he is an inventive entrepreneur who pushes the boundaries of what people say can be done, and makes a ton of money doing so.

He grew up in South Africa, buying his own computer at 10, and selling his first software at 12.  He attended Penn to study economics and physics, and went to Stanford to pursue a PhD, which he never followed through on.  Instead, he dropped out, created a company, and sold it to Compaq for almost $350 million.  He later founded Paypal (sold to eBay) and SpaceX.  Soon after he founded Tesla Motors, and most recently announced a new railway concept he calls Hyperloop (Biography.com).

What Musk does with his money for personal gain is very limited.  All that is readily accessible is that he owns a house in Bel Air, CA.

In terms of philanthropy, he started the Musk Foundation, which donates money to science pursuits mostly.  If you are more curious, I STRONGLY urge you to visit his website http://www.muskfoundation.org.  It is a legitimate website, and even landed on Forbes list of top 5 ugliest billionaire websites (http://www.forbes.com/sites/calebmelby/2012/10/05/the-top-5-ugliest-billionaire-websites/).  He is also another member of the Giving Pledge.

What makes Musk so interesting is his pursuit of innovation and his investment in research and technology.  Let’s talk about Hyperloop first.  He unveiled a design (Businessweek) for a new transportation system that could take people from place to place at over 800 mph.  While it is very expensive, he thinks that, compared to California’s current railway system, which is both slow and expensive, Hyperloop would be much more efficient.

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The Hyperloop

Source: Businessweek

In 2012, Musk’s company, SpaceX, was the first company that wasn’t a country, to send a craft to space and return it safely.  His Dragon spacecraft delivered cargo to the International Space Station, as well (spacex.com).  They are also the first company to begin pioneering commercial space travel, and have even begun selling tickets to the first commercial space flight.

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Dragon Spacecraft

Source: spacex.com

Now, on to Tesla Motors.  Tesla was a nearly failed company, according to a recent 60 Minutes interview with Musk.  However, he stuck it out and Tesla’s most recent car, the Model S, is the hottest car in America right now.  Starting at around $95,000, it is the safest car in America, receiving 5 stars in every safety category.  However, what makes the Model S so interesting is the fact that it is a high performance luxury car (0-60 in 4.2 seconds), which runs completely on electricity.  Yup.  Musk might have just solved our pollutions problems.

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Tesla Model S

Source: jacobfoxx.com

What’s the theme?  Musk innovates in fields where he believes there are deficiencies.  Railroads move too slowly and cost too much.  Hyperloop.  Space exploration and innovation has slowed considerably in recent times.  SpaceX.  Cars are unsafe and pollute the environment.  Tesla.  Shake up the banking industry.  Paypal.

Maybe we need more minds like Musk to help solve our issues.  Is he too overzealous to think he can solve so many of the world’s problems?  Is he misguided?  Or is he actually doing this to help others?  It seems he genuinely has an interest in innovation, and is certainly a brilliant man affecting real change in the world.

Relevant links:

http://www.forbes.com/profile/elon-musk/

http://www.newrepublic.com/article/113891/petraeus-mark-zuckerberg-and-elon-musk-rich-people-1-salaries

http://www.biography.com/people/elon-musk-20837159?page=2

http://en.wikipedia.org/wiki/Elon_Musk#Personal_life_and_family

http://www.muskfoundation.org

http://www.forbes.com/sites/calebmelby/2012/10/05/the-top-5-ugliest-billionaire-websites/

http://www.businessweek.com/articles/2013-08-12/revealed-elon-musk-explains-the-hyperloop

http://www.spacex.com

5 comments

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  3. Karla DiPietro

    To call Musk overzealous would be to discourage ingenuity and drive. He focuses on specific problems in our world and actually working towards fixing them. The fact that he can do this without appearing in the media every day is impressive. It says something about a person when they choose to tackle a problem rather than turn the other way. Clearly, Musk is an extremely intelligent man with the drive to match his intelligence. I respect him for assuming agency and working towards the betterment of our entire world. Website is on par.

  4. I’m with Mike. Before this post, I had never heard of Mr. Musk either. However, having read about him, he seems like my kind of guy. The man is simply just a genius. His knack for finding the perfect niche market seems to be uncanny. And that is to say nothing about how he actually gets all his operations up and running, let alone successful. I do find it a bit odd that his finances are kept so private, though. But from what I have gathered this is rather typical of people who are in industries like he is. I am sure Musk is doing good things with his money. Hopefully he will use some to hire a web designer in the near future.

  5. Mike J. Bacior

    I can’t believe I hadn’t heard about this guy. He sounds like the man! I think people like Musk are what make the free market system viable. We need innovators who are not afraid to push the boundaries in various fields and help our society advance. I also respect the fact that he does not need to be in the media 24/7, as many billionaires seem to love attention. I will definitely be watching Musk from now on.

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