Elon software company. They developed and marketed an

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Last updated: September 14, 2019

Elon Reeve Musk is one of the wealthiest manon earth in fact he as a net worth of over US $ 19.8 billion the 46 years oldbusiness magnate ranks as the 21st well-heeled man in the US in the 2017 Forbes400.  Elon Musk born June – 28 – 1971 had an eye forbusiness since his college times when he used to use his dorm as an illegalnightclub .

But in 1995 musk and his brother with the help of a group of angelinvestors started his first serious business venture called Zip2 a web softwarecompany. They developed and marketed an Internet guideline for newspapersindustry.  Based on the researchers and studies made onMr. Musk one key point comes out, the wanting to be an innovator, with thedifferent projects  and businesses hecreated we can see that it’s all about innovation delivering something newnever seen; and we can see it clearly with his 3 different companies: SPACEX, Tesla, PayPal. Let me break it down, I’ll explain why tobecome one of the most successful entrepreneurs and one of the wealthiest manon the planet been an innovator that thinks out of the box is crucial. PayPal for example it’s the outcome of theunion of two companies X.

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com, a corporation network specialising in financialaid and payment via email where Musk contributed in establishing an entepriselabelled Confinity. This Company had a service which transferred money named asPay Pal, they then aimed their attention towards the Pay Pal system Weknow how big paypal is and this simply proves that  the sense of innovations of musk grant himthe opportunity to be the Ceo of PayPal even for just one year , and he wasalso the biggest shareholder. Then we have SpaceX, this project shows simply how Muskis  ahead of the game and he’s ready totake risk that normal entrepreneurs wouldn’t take.

 Musk In 2001 conceptualized “Mars Oasis” one of themost futuristic ideas and ongoing project in this day and age , as the name of the project says it’s a proposal toland a scaled down experimental arboretum on Mars, containing food cropsgrowing on Martian regolith.This project wasn’t easy to start up because Musk hadresource problem from the begging and on how to create rockets with enoughpower to launch in to the space;In October 2001, Musk flew to Moscow with JimCantrell “an aerospace supplies fixer”, and Adeo Ressi , to invest in refurbishedDnepr Intercontinental ballistic missiles  that could send the conceptualize payloadsinto space, the group met with companies such as NPO Lavochkin and Kosmotras;however, according to Cantrell, Russians chief disigners underrated Musk calledhim a novice, Mr. Elon was riducolized and not taken serius so the groupreturned to the United States empty-handed. In February 2002, the groupreturned to Russia to look for three ICBMs, bringing along Mike Griffin.Griffin had worked for the CIA’s venture capital arm, In-Q-Tel, as well asNASA’s Jet Propulsion Laboratory, and was just leaving Orbital Sciences, amaker of satellites and spacecraft. The group met again with Kosmotras, andwere offered one rocket for US$8 million, however, this was seen by Musk as tooexpensive; Musk consequently stormed out of the meeting. But all of this didn’tstop him from achieving his goal, so instead of quitting or paying an enormousamount of money he chose to start a company that could build theaffordable rockets he needed, and this was a big risk  because for many it my look easier, lessrisky and cheaper  to buy a finishedproduct, but he took the risk of start a company that would take raw materialand assemble them to make the rockets he needed , according to early Tesla andSpaceX investor Steve Jurvetson  Muskcalculated that the raw materials for building a rocket actually were only 3percent of the sales price of a rocket at the time.

It was concluded thattheoretically, by applying vertical integration and the modular approach fromsoftware engineering, SpaceX could cut launch price by a factor of ten andstill enjoy a 70-percent gross margin. Ultimately, Musk ended up foundingSpaceX with the long-term goal of creating a “true spacefaringcivilization”. Thanks to his can do attitude in 2006  SpaceX was awarded acontract from NASA to continue the development and test of the SpaceX Falcon 9launch vehicle and Dragon spacecraft in order to transport cargo to theInternational Space Station followed by a US$1.6 billion NASA CommercialResupply Services program contract on December 23, 2008, for 12 flights of itsFalcon 9 rocket and Dragon spacecraft to the Space Station, replacing the USSpace Shuttle after it retired in 2011. Musk’s private trust holds 54% ofSpaceX stock, equivalent to 78% of voting shares in the company that today isworth over $21.5 Billion. And this is just some of the accomplishment Elon Musk wasable to gain i was able to make more money more innovations with is othercompany Tesla that deal with electric cars , this further shows that  Elon Reeve Musk today hissuccessful because he is an innovator and obviously for he’s great sense ofbusiness. To be a successful Entrepreneur we must beable to think outside the box and be able to create something and go beyond thelimits we have to accomplish a greater goal.

Every single project of Mr. Muskhas affected or will affect humanity and economy greatly from being able tocreate with joined effort of other people a platform that enables people totrade their money in a easier way to futuristic mars colonies and electriccars. Conclusion: By just giving a glimpse at theentrepreneurial life of Elon Musk we can understand that any business is goingto have obstacles but the key difference from a successful entrepreneur and anda self proclaimed entrepreneur is the conviction on wanting to solve theproblem in a sensible way , also we saw that the risk he took in creating thecompany that creates rockets wasn’t out of the simple blue there was researchand study on the materials needed that simply means that yes a risk it’s alwaysa risk but a good entrepreneur will reduce the actual risk by doing andinvesting money in productive research to make sure you aren’t simply wastingyour time. And we also see how he overcame his barriewith the creation of SpaceX not only he proved wrong russian experts thatconsidered him a rookie but also created such an efficient company that alsoNASA wanted to join in with their projects . Elon musk has many other companies like Hyperloop, SolarCity, OpenAI, Neuralink, The Boring Company; all of this companies have onething in common the research in trying to enhance the human life or developingtechnology for the human gain.Mypersonal opinion is that to become a successful entrepreneur is a lot to dowith the character  development obviouslyit’s a journey and it’s learning from the mistakes and trials and tribulationswe face but it’s also abandoning the concept of self and not lose our self inthe little accomplishments but alway set ourselves new targets to aim at,because once we lose that key focus decline is inevitable.

      Sources of information to support me with this assignment https://resistexperformance.co/2016/07/   https://steemit.com/elonmusk/@sundarrajan/how-elon-musk-started   http://www.cneat.ru/spacex-en.html   http://www.bid-org.com/personality/elon-musk/   https://prezi.com/vjjdi61lwmx5/elon-musk/              

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