From the Internet to Space: How Musk Became the World's Richest Person

Elon Musk’s name has become synonymous with innovation, risk-taking, and controversy. Born in 1971 in Pretoria, South Africa, he now leads influential global companies like Tesla and SpaceX, with a net worth exceeding $200 billion. But this entrepreneur, dubbed the “real-life Iron Man,” has a journey to success that is far more complex and fascinating than it appears on the surface. From a programming prodigy to an internet entrepreneur, and then a disruptor in space and renewable energy, Musk has built a business empire spanning multiple industries over more than thirty years.

Self-Made Genius

Musk’s story begins in a South African family. His father was an engineer, and his mother was a Canadian model and nutritionist. This background seemed to set him on an unusual life path early on. At age ten, with allowance and his father’s support, he bought his first computer and started self-learning programming. A few years later, he designed a space-themed game called “Blastar” and sold it for $500—his first entrepreneurial income.

But Musk’s ambitions went beyond that. At 17, he traveled alone to Canada, worked on his cousin’s farm during high school for two years, then enrolled at Queen’s University in Ontario. After two years, he transferred to the University of Pennsylvania, earning dual degrees in economics and physics. During college, Musk interned at several startups in Silicon Valley, gaining exposure to cutting-edge technologies like supercapacitors and experiencing the vibrant gaming industry.

In 1995, just as he was about to pursue further studies, Musk made a bold decision—he received a PhD offer from Stanford University but dropped out after only two days. Not because of academic difficulties, but because he saw the internet wave approaching and felt he couldn’t wait any longer.

Continuous Entrepreneurship in the Internet Age

Partnering with his brother Kimbal Musk, he founded Zip2—a platform providing online maps based on GPS data. The company started with neighborhood network signals, offering business location services, and gradually secured contracts with major media outlets like The New York Times and Chicago Tribune. In 1999, Compaq (later HP) acquired Zip2 for $305 million in cash plus $34 million in stock options. Musk netted $22 million from the deal—his first big fortune, and he was under 30.

But his sights were already set on finance. In 1999, he founded X.com, an online payment company, which merged with Confinity two years later. The combined company was renamed PayPal in 2001 and launched revolutionary online payment services. In 2003, eBay acquired PayPal for $1.5 billion, and Musk made $180 million from this sale.

These successes showcased Musk’s business intuition—he always spots the right moment and invests early while competitors hesitate. More importantly, the capital and experience he gained from these ventures laid the foundation for his later ventures into space and energy.

Pursuit of Space Dreams

In early 2001, an idea took shape in Musk’s mind—to send a small greenhouse to Mars to grow crops and make humans a multi-planetary species. To realize this “Mars Oasis” plan, he even traveled to Moscow to buy refurbished intercontinental ballistic missiles but gave up due to the $8 million per missile cost.

On a flight back to the US, Musk conceived a new idea—rather than buying ready-made rockets, why not start a company to develop low-cost launch vehicles using modular design? In June 2002, SpaceX was founded, with Musk investing $100 million and serving as CEO and CTO.

The early days of SpaceX were filled with failures. The first three Falcon 1 launches failed—fuel leaks, stage separation issues. On September 28, 2008, the fourth launch succeeded. This victory was not just personal but the result of six years of team effort. Musk once said this was SpaceX’s last chance; failure would mean bankruptcy.

The story then became increasingly inspiring. In May 2012, SpaceX’s Dragon spacecraft successfully docked with the International Space Station, the first private spacecraft to do so. In December 2015, SpaceX successfully recovered a rocket for the first time, marking the start of reusable rocket technology. By 2024, SpaceX had become a leader in commercial spaceflight, with industry-leading launch frequency and success rates.

Meanwhile, Musk launched the Starlink project—aiming to deploy thousands of satellites to provide low-cost global internet. Although criticized by astronomers for potentially affecting observations, its value in connecting remote areas is undeniable. During the Russia-Ukraine conflict, Starlink’s support for Ukraine drew worldwide attention.

Tesla and the New Energy Revolution

If SpaceX embodies Musk’s space ambitions, Tesla represents his commitment to Earth’s energy future. In 2004, Musk invested $6.3 million in Tesla, then a startup founded by Martin Eberhard, and became chairman. Though not a founder, Musk transformed Tesla into the world’s most valuable automaker.

In 2009, Tesla launched the Roadster, its first electric sports car, and announced development of the Model S. These vehicles changed perceptions of EVs—they were no longer just eco-friendly but high-performance, high-tech driving machines. In June 2010, Tesla went public on NASDAQ, opening at $17 and rising to $24.64, a 45% increase.

The subsequent years were dramatic. Model S launched in 2012; in 2013, Tesla’s stock soared to $158, with a market cap over $10 billion; by June 2020, the stock surpassed $1,000, making Tesla the most valuable car company globally. This was not just a stock rally but a victory for a vision—proving electric cars are not just future but the present.

During this period, Musk also made strategic acquisitions. In 2016, he bought SolarCity for $2.6 billion, aiming to create an energy ecosystem—integrating Tesla’s EVs and Powerwall batteries with SolarCity’s solar panels for a sustainable energy solution.

AI and Future Exploration

But Musk’s ambitions extend further. As early as 2015, he co-founded OpenAI with other Silicon Valley elites, investing $1 billion to promote safe AI development. Though he later left the board due to differing visions, he continued exploring AI.

In 2023, Musk launched xAI Corp, developing Grok, an AI chatbot competing with ChatGPT. He also invested heavily in Neuralink, a brain-machine interface company. In early 2024, Neuralink completed its first human brain implant surgery, enabling a patient to control a computer mouse with thoughts—an important milestone in human-machine integration.

In interviews, Musk has expressed concerns about AI—calling it one of humanity’s “biggest threats” and even advocating for a pause on advanced AI training. Yet, he continues to push AI technology forward—reflecting the complex nature of his entrepreneurship: driving innovation while contemplating its risks.

Controversial Entrepreneur

Musk’s success has come at a cost. As an active social media figure, his statements often spark controversy. Whether on cryptocurrency, politics, vaccines, or social issues, he is outspoken. Sometimes seen as visionary, other times criticized or sued.

In 2018, he apologized after calling a cave rescue expert “pedo guy” on Twitter, facing SEC lawsuits. That September, he smoked marijuana during a Joe Rogan podcast, raising security concerns with the Pentagon.

In late 2023, his response to anti-Semitic comments on X (formerly Twitter) drew widespread condemnation, leading many companies to pause advertising. To mitigate this, Musk visited Israel and met with its leaders.

In 2024, he was warned by the U.S. Department of Justice for proposing a $1 million lottery to encourage swing-state voters—potentially violating federal election laws.

A Business Empire

Today, Musk is the head of a vast business empire. He owns over 20% of Tesla, about 43% of SpaceX, and continues exploring AI through xAI and Neuralink. According to Forbes 2024 data, his personal net worth is $244 billion, ranking him as the richest person in America for three consecutive years.

Behind these numbers is a tech-obsessed entrepreneur who, over decades, turned once-fantastical dreams into reality—from internet payments to electric vehicles, from commercial spaceflight to brain interfaces. Musk has answered a timeless question: what will the future look like?

As he himself has said, innovation is full of challenges and risks. Every success involves multiple failures; every dream requires huge investment and unwavering belief. That may be why, even as the world’s richest, Musk still works on the front lines, debates critics on social media, and pushes new projects—because creating the future has become his life.