Was Elon Musk Poor? That’s the question on everyone’s lips. After all, who doesn’t want to live like Elon Musk? The SpaceX CEO sold most of his $US100 million real estate portfolio. As a matter of fact, he pledged in November last year to own no house. Nevertheless, he has been spotted living in a $50,000 tiny prefab home that he rents from SpaceX.
When he was young, Elon Musk was homeless in Canada and spent much of his time studying. He spent several hours a day reading books, often one per day. He also convinced his dad to buy him a Commodore VIC-20 computer. It takes 6 months to learn the basic programming language, but Elon Musk managed to finish the lessons in three days. This gave him the ability to create a video game. This earned him a $500 prize.
Then, he started a company called Zip2 with his brother and another friend. The company was successful and went on to sell for $307 million to Compaq. Musk ended up with a net worth of $22 million from Zip2 and used the money to buy a McLaren F1 supercar for $1 million. In addition, he was uninsured, so he could only use it during the day.
According to a recent interview, Musk’s ex-girlfriend claimed that Musk was living below the poverty line, despite his fortune. He also mentioned in a tweet that he was living in a tiny shack that cost only $US50,000. This is similar to the reasons why Musk admitted he was poor. A friend of his also owned a heavy road construction business, and eventually paid the money back. But, if Elon were to borrow money to buy a new mattress, he might not be so eager to spend money.
While the fact that he was raised in a wealthy family is impressive in itself, it’s also important to consider his personal background. As a child, Musk was the youngest in his grade school, and was an introverted geek. At the age of seventeen, he fled to Canada to escape military service in South Africa. Musk attended Queens University in Ontario and then transferred to the University of Pennsylvania, where he studied business and physics. In addition to studying physics, he was also exposed to risky ventures.
Despite his vast wealth, the fact that Elon Musk is a cheap skate means that he has not been taking care of himself. While Musk has no shortage of cash, his lavish lifestyle seems rather unremarkable. As his girlfriend told a magazine, Musk used to live in a house that didn’t have security. She also told the magazine that he refused to replace a bed that had a hole in it, suggesting she ferry a mattress from her place to hers.
While Musk may seem like a self-made billionaire, it’s important to remember that he was once a poor kid from South Africa. He grew up in Canada and the United States, and achieved success through hard work and grand ambition. Musk’s bluster may be a little overblown, but his accomplishments make him an extraordinary individual. Even though his projects are far-fetched and controversial, his innovations and good works are still worth celebrating.
Is Elon Musk Rich? Elon Musk is a self-made billionaire, but he didn’t get rich through his own efforts. He did not inherit his father’s fortune; instead, he squeezed out millions from underdeveloped nations and became the richest person in the world. So was he poor? This is the question we all must ask. There’s no one right answer, but it’s worth considering.
While Elon Musk was on his honeymoon, he was forced out of PayPal after a Silicon Valley coup. He later returned and tried to save the company from bankruptcy. eBay purchased PayPal for $1.5 billion and Elon made around $180 million. Is Elon Musk Poor? – Part I