How did Elon Musk start making money?

Elon Musk built his fortune by turning his vision into reality. Before he graduated from high school, Musk earned $500 for a computer game he created. He then went on to found a series of successful tech companies and sell them for a hefty profit.

How did Elon Musk start his first business?

In 1995, with $28,000 and his younger brother Kimbal at his side, Musk started Zip2, a web software company that would help newspapers develop online city guides. 19 Musk used his Zip2 buyout money to create X.com, which he intended to shape into the future of banking.

What was the first business of Elon Musk?

Zip2
Zip2, former American technology company (1995–99) that was the first enterprise founded by Elon Musk.

How did Elon Musk fund Tesla?

Musk’s Series A investment round of US$7.5 million in February 2004 included Compass Technology Partners and SDL Ventures, as well as many private investors. In February 2005, Musk led Tesla’s Series B US$13 million investment round which added Valor Equity Partners to the funding team.

Why is Elon Musk worth so much?

The majority of Musk’s fortune is tied up in his 23\% stake in Tesla, which he first backed in 2004, a year after it was founded. He also holds a significant share of his privately held rocket company SpaceX, which was valued at about $74 billion in a February 2021 funding round.

What did Elon Musk invent first?

Musk launched his first company, Zip2 Corporation, in 1995 with his brother, Kimbal Musk. An online city guide, Zip2 was soon providing content for the new websites of both The New York Times and the Chicago Tribune.

How did Elon Musk fund Zip2?

Key Highlights. After dropping out of Stanford in 1995, Musk started Zip2 with his brother Kimbal using $28,000 borrowed from their father. In 1999 it sold to Compaq for $307 million, with Musk earning $22 million.