CAPE TOWN - South African born billionaire, Elon Musk is vested in business ventures that may well surprise you. Take a look at how he became one of the most powerful businesses men around.
The business magnate started from humble beginnings and is now reportedly worth R277.3 billion.
THE FACT SHEET:
1. Musk co-founded his first company, Zip2 with his brother, Kimbal Musk in 1995. Zip2 made him a millionaire in his twenties when it was sold for R4.3 billion to Compaq.
2. He then went on to found 3 additional companies, X.com, SpaceX and Tesla Motors. Financial services company, X.com was acquired by eBay for R21.5 billion in 2002.
3. In 2012, Space X launched a rocket that would send the first commercial vehicle to the International Space Station. Space X made history in 2012 when it launched its Falcon 9 rocket into space with an unmanned capsule.
4. In 2013, Musk advanced his innovation by introducing a new form of transportation, Hyperloop. Musk imagined Hyperloop to foster commuting between major cities while cutting time travel. According to Musk, Hyperloop could take as long as seven to ten years to be built.
5. In 2016, Musk solidified a R37.3 billion deal to combine his electric car and solar energy companies. This deal involved Tesla, which announced an all-stock deal purchase of SolarCity Corp., a company Musk had helped his cousins start in 2006
- BUSINESS REPORT ONLINE