Elon Musk, one of the most influential and richest men in the world, has left an indelible mark on various industries thanks to his innovative vision and unique business approach. This millionaire has a high media presence and over the years he has left many valuable phrases in talks or interviews about how he has sown and reaped his success.
Founder of successful companies such as tesla, SpaceX, Neuralink and The Boring Company, Musk has faced and overcome countless challenges to get to where he is today. His ability to think outside the box and his willingness to take calculated risks have allowed him to revolutionize sectors as diverse as transportation, energy and space technology.
Elon Musk’s path to success has not been easy or free of failures, but his perseverance and determination have helped him overcome obstacles that would have stopped many. His reflections and advice on business success are closely followed by entrepreneurs and leaders around the world who seek to replicate his incredible career.
teslafounded in 2003, is one of the most recognized companies in Musk Worldwide. Elon Musk joined as a majority shareholder in 2004 and currently owns around 13% of the company. Tesla is dedicated to design, manufacture and marketing of electric vehicles. In addition, it produces solutions photovoltaic self-consumption and renewable energy through Tesla Energy. With a market value approximately 859 billion dollars and a staff of about 128,000 employeesthe company is headquartered in Texas, USAand factories in America, Europe and Asia.
Founded by Elon Musk in 2002, SpaceX is dedicated to space vehicle manufacturing and services space transportation. Musk owns around 42% of the company. SpaceX has accomplished important milestones, such as bringing supplies and astronauts to the International Space Station and develop the satellite constellation of Starlink telecommunications. The company is headquartered in Hawthorne, California.
Neuralinkfounded in 2016, aims to integrate the artificial intelligence in it human brain through brain implants. The company is valued at more than 5 billion dollars and has received permission from the FDA to test their chips on humans. These essays seek to address problems such as paralysis and the amyotrophic lateral sclerosis (ALS).
Created in 2016, The Boring Company focuses on the tunnel construction to reduce the traffic in big cities. Currently, the company has started the construction of tunnels in Las Vegas, USA. In 2022, its estimated value was approximately 5.7 billion dollars.
In October 2022, Musk acquired Twitter by 44 billion dollars and merged it with X Corp. Although Twitter is not the social network with the most users, it is one of the most influential in social movements. In July 2023, Musk renamed the platform as xwith the aim of turning it into a “superapp” similar to those used in Asia.
The latest business adventure of Musk is xAIwhose objective is to understand the true nature of the universe through artificial intelligence. xAI has launched a chatbot called Grokseen as an alternative to ChatGPTwhich is currently in the testing phase and is accessible only to some paying subscribers of the social network x.
Elon Musk He is known for being the brain behind revolutionary companies like tesla, SpaceXand recently from the social network X (ex Twitter).
Musk bought Twitter in 2022 for $44 billion. He owns approximately 74% of the company, now called X. According to a study he conducted Forbes In 2023, Musk’s stake in X is now estimated to be worth almost 70% less than what he paid for it.
The technology magnate had remained in first place until this year, since his fortune had a significant change in his net worth and he fell to second place. This change comes after a court ruling on January 30, 2024 that voided his salary of almost USD 51 billion. To date, Musk’s fortune is estimated at $207.9 billion.
- Accept failure: ”Failure is an option. If things are not failing, you are not innovating enough.”
- Look for negative feedback: ”Pay attention to negative feedback and ask for it, particularly from friends. People don’t usually do that and it’s very helpful.”
- Impact: ”The motivation for creating all my companies has been to think about getting involved in something that could have a significant impact on the world.”
- Choose to be extraordinary: “I believe it is possible for normal people to choose to be extraordinary.”
- Do it, despite the adversities: ”When something is important enough, you do whatever it takes even when the odds are not in your favor.”
- Outperform the competition: ”When you enter to compete in a market that is already being exploited, you must make sure that your product is not only a little better than the competition, but much better.”
- Build a strong brand: ”The brand is just a perception and the perception will match the reality over time.”
- Prioritize talent over quantity: ”It is a mistake to hire many people to do a complicated job. “Numbers will never compensate for talent.”
- Maintain optimism with realism: ”I always have optimism, but I am realistic. “I didn’t start Tesla or SpaceX expecting huge success, I just thought they were important enough to do it anyway.”
- Communicate clear goals: ”People work better when they know what the goal is and why. It is important that people know where they come to work each morning and that they enjoy work.”
- Assess personality: ”My biggest mistake is probably prioritizing talent over personality. I think it matters whether someone has a good heart or not.”
- Rate personality: ”The first step is to establish that something is possible. “Then it is likely to happen.”
- Persevere: ”If something is important enough, even if the odds are against you, you should keep trying.”
- Avoid distraction with incorrect solutions: “Don’t get distracted by thinking that something might work when it isn’t, or you’ll be permanently stuck with the wrong solution.”
- Control risks: “It’s okay to have your eggs in one basket, as long as you control what happens to that basket.”
