An entrepreneur is someone who takes a financial risk in order to start a business or organization.
Risk carries with it the potential for reward in the form of monetary gain. As well as financial gain, entrepreneurs are also motivated by factors such as innovation, disrupting the status quo, and making a difference.
Currently Elon Musk is the no. 1 Entrepreneur in the world. Elon Musk is the richest entrepreneur in the world with a net worth of $ 269 billion. Entrepreneur Elon Musk co-founded PayPal, one of the world’s most popular online payment systems. His current roles include those of CEO and chief designer at SpaceX, co-founder and CEO at Tesla and founder of The Boring Company. He is also CEO and chief architect at SpaceX. Musk was raised in Pretoria, South Africa, where he was born to a Canadian mother and a South African father. He graduated from the Wharton School with a bachelor’s degree in economics and the College of Arts and Sciences with a bachelor’s degree in physics.
CEO of Tesla, a global electric vehicle company, he is widely recognized for his achievements. In 2004, Musk invested $6.5 million in Tesla, making him the company’s largest shareholder. Martin Eberhard and Marc Tarpenning founded Tesla in 2003. After selling a business for $200 million, what would you do with the cash you’ve earned? Most of us would assume that we’ve arrived at the pinnacle of our careers, purchased a sprawling estate with a fleet of expensive cars, and are now free to do as we please for the rest of our days.
This is where Elon Musk sets himself apart from the rest of the pack by taking risks. I can summarize it all in one sentence: “My proceeds from the purchase of Pay Pal were $180 million.” $100 million went to SpaceX, 70 million to Tesla and 10 million to a startup called Solar City, all of which are publicly traded companies. “I had to take out a loan to pay my rent.”
Risk taking is a must if you want to emulate Elon Musk. Don’t let the odds get in the way of your dreams, even if they’re not in your favor.
Elon Musk has some words of wisdom for aspiring entrepreneurs. “It’s vital to think of knowledge as a kind of semantic tree: if you don’t understand the fundamental principles first, you won’t be able to grasp the intricacies.”
In addition, Tesla has a variety of ventures in which it has stakes:
- Maxwell Technologies (electric vehicle energy storage and power device/solutions)
- Tesla’s Power (solar energy devices & solutions)
- Scale-out computing (technology solutions for self-driving vehicles)
- Engineers from Grohmann (automated manufacturing solutions)
- Insurance for Tesla Motors (insurance services for Tesla vehicle owners)
- This is a Perbix Machine (automated manufacturing devices)
- Financing for Tesla (finance services for Tesla customers)