How did Elon Musk make his money

Influential and charismatic people have a big impact on the masses due to their phenomenal success, innovation, skills, power, and income. They are looked up to by millions of success aspirants worldwide for inspiration.
One of the most influential businessmen today who creates news through his comments, actions, and decisions is Elon Musk.
In this article, we explore the most important steps in Musk’s business journey

Name: Elon Reeve Musk
Date of Birth: June 28, 1971
Education: University of Pennsylvania (BA, BS)
Source of Wealth: Tesla, SpaceX, Self-Made
Net Worth: $192 billion

Musk attended Waterkloof House Preparatory School, Bryanston High School, and Pretoria Boys High School, from which he graduated.
Technology became an escape for Musk. At 10, he became acquainted with programming using a Commodore VIC-20, an early and relatively inexpensive home computer. Before long, Musk had become proficient enough to create Blastar—a video game in the style of Space Invaders. He sold the BASIC code for the game to a PC magazine for $500.
In one telling incident from his childhood, Musk and his brother planned to open a video game arcade near their school. Their parents nixed the plan.
At 17, Musk applied for a Canadian passport through his Canadian-born mother, knowing that it would be easier to immigrate to the United States this way. While waiting for his application to be processed, he attended the University of Pretoria for five months.

Musk arrived in Canada in June 1989 and lived with a second cousin in Saskatchewan for a year, working odd jobs at a farm and lumber mill. In 1990, he entered Queen's University in Kingston, Ontario. Two years later, he transferred to the University of Pennsylvania (UPenn), where he completed studies for a Bachelor of Arts degree in physics and a Bachelor of Science degree in economics from the Wharton School. Although Musk claims he earned the degrees in 1995, UPenn maintains it awarded them in 1997. He reportedly hosted large, ticketed house parties to help pay for tuition, and wrote a business plan for an electronic book-scanning service similar to Google Books.

In 1994, Musk held two internships in Silicon Valley: one at the energy storage startup Pinnacle Research Institute, which investigated electrolytic ultracapacitors for energy storage, and another at the Palo Alto–based startup Rocket Science Games. In 1995, he was accepted to a PhD program in materials science at Stanford University. However, Musk decided to join the Internet boom, instead dropping out two days after being accepted and applied for a job at Netscape, to which he reportedly never received a response.

Along with his brother, Musk founded Zip2, an online business directory, as an online alternative to the standard paper yellow pages. (Google would not launch until 1998.) He sold it for over $300 million in 1999 to Compaq Computer Corporation. Musk was ousted as CEO in 1996, however, when the board of directors decided to install a more experienced leader in his stead.

X.com merged with software company Confinity just one year later, forming PayPal, a secure online payments platform with a foundation in payments conducted for PalmPilots. PayPal would go on to be one of his most successful companies; Musk and his partners, including Confinity co-founder Peter Thiel, sold it to eBay in 2002 for a $1.5 billion stock deal. However, it was a rough start. PayPal was named at one point as one of the “worst business ideas” of 1999, and Musk himself was again removed from his role as CEO while on honeymoon in 2000, replaced by the board with Thiel.

Musk next set his sights on a lofty goal: space exploration, and the future colonization Mars. In the past 20 years, SpaceX has dealt with a series of rocket launch failures and Starship explosions. But it has also become a heavy-hitter in the space industry with a number of records to its name, including being the first private company to send a craft to the International Space Station and send astronauts to orbit. It is known for its reusable rockets.
SpaceX is also behind the development of Starlink, a constellation of satellites intended to offer commercial internet service around the globe.

Musk had long been interested in the possibilities of electric cars, and in 2004 he became one of the major funders of Tesla Motors (later renamed Tesla), an electric car company founded by entrepreneurs Martin Eberhard and Marc Tarpenning. In 2006 Tesla introduced its first car, the Roadster, which could travel 245 miles (394 km) on a single charge. Unlike most previous electric vehicles, which Musk thought were stodgy and uninteresting, it was a sports car that could go from 0 to 60 miles (97 km) per hour in less than four seconds. In 2010 the company’s initial public offering raised about $226 million. Two years later Tesla introduced the Model S sedan, which was acclaimed by automotive critics for its performance and design. The company won further praise for its Model X luxury SUV, which went on the market in 2015. The Model 3, a less-expensive vehicle, went into production in 2017 and became the best-selling electric car of all time.

Another research endeavor, Musk co-founded Neuralink in 2016 with the goal of working on “brain-machine interfaces,” or BMIs, that can be implanted directly into the body. Neuroscientists have been skeptical of Neuralink’s research and claims.

Musk founded the Boring Company to construct tunnels, and revealed plans for specialized, underground, high-occupancy vehicles that could travel up to 150 miles per hour (240 km/h) and thus circumvent above-ground traffic in major cities. Early in 2017, the company began discussions with regulatory bodies and initiated construction of a 30-foot (9.1 m) wide, 50-foot (15 m) long, and 15-foot (4.6 m) deep "test trench" on the premises of SpaceX's offices, as that required no permits. The Los Angeles tunnel, less than two miles (3.2 km) in length, debuted to journalists in 2018. It used Tesla Model Xs and was reported to be a rough ride while traveling at suboptimal speeds.
Two tunnel projects announced in 2018, in Chicago and West Los Angeles, have been canceled. However, a tunnel beneath the Las Vegas Convention Center was completed in early 2021. Local officials have approved further expansions of the tunnel system.
In 2021, tunnel construction was approved for Fort Lauderdale, Florida.

A frequent poster on the messaging network, Musk disclosed a 9.2% stake in Twitter, Inc. (now X Corp) in April 2022.
The company responded by offering Musk a seat on the board, which he accepted before declining days later.
Musk then sent a bear hug letter to the board proposing to buy the company at $54.20 per share.
Twitter’s board adopted a poison pill provision to discourage Musk from accumulating an even larger stake, but they ultimately accepted Musk’s offer after he disclosed $46.5 billion in committed financing for the deal in a securities filing.
Twitter, via U.S. Securities and Exchange Commission. “Amendment No. 3 to Schedule 13D, April 20, 2022.”
In July 2022, Musk attempted to cancel the deal, arguing that Twitter had failed to provide certain information regarding fake accounts. The company sued Musk to require him to complete the deal.
After months of legal wrangling, the billionaire’s plan to buy the social media platform came to fruition, and Musk took control of Twitter on Oct. 28, 2022.
The company was renamed X Corp the following year.

Elon Musk’s leadership style is best defined as transformational. He believes there’s a better way to do everything, and he sets his sights on constant improvement. He has big ideas and wants to unite his team around his (sometimes outrageous) vision and objectives.
Musk is also known for his innovative and inspiring leadership style. He encourages his employees to think outside the box and take risks. He is not afraid of failure and sees it as an opportunity to learn and grow.

From a psychological perspective, it is important to note that it is not possible to accurately assess an individual's mental health or personality without personally interacting with them and conducting a thorough evaluation. However, we can examine some of the potential psychological factors that may have influenced Musk's behavior and decision-making.
One potential psychological factor that may have influenced Musk is his high level of intelligence and creativity. Musk has consistently demonstrated his ability to think outside the box and come up with innovative solutions to complex problems. This tendency towards "divergent thinking" can be a positive trait, as it allows individuals to generate new ideas and approaches. However, it can also lead to a tendency towards risk-taking and a willingness to pursue unconventional or even risky endeavors.
Another psychological factor that may have played a role in Musk's behavior is his drive and determination. Musk has a reputation for being extremely focused and driven, with a strong desire to achieve success in his endeavors. This determination can be a positive trait, as it allows individuals to pursue their goals with persistence and determination. However, it can also lead to an overbearing or even obsessive focus on a particular goal or project, potentially leading to negative consequences.
A third psychological factor that may have influenced Musk is his personality. Personality traits, such as introversion and extroversion, can shape an individual's behavior and decision-making. Musk is known for being a highly ambitious and extroverted individual, which may have contributed to his willingness to take risks and pursue his vision aggressively.
Overall, it is clear that Elon Musk's psychological makeup has played a significant role in his success as an entrepreneur and leader. However, it is important to note that psychological factors are complex and multifaceted, and cannot be fully understood without a thorough evaluation. It is important to approach any analysis of an individual's psychology with caution and respect, and to recognize that no one is a one-dimensional character.