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The Story of Elon Musk Began in South Africa and Crossed Silicon Valley, Transforming Him into the Richest Man in the World, with a Billion-Dollar Empire and Revolutionary Companies
The story of Elon Musk is a curiosity for millions of people. Visionary, controversial, and relentless, he transformed entire sectors of the global economy with bold ideas and high-risk decisions.
From electric cars to reusable rockets, the story of Elon Musk showed that he dreamed big—executing with a speed that defies traditional industry standards.
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Today, he is the richest man in the world, with an empire that includes SpaceX, a leader in the new space race; Tesla Motors, a reference in electric mobility; and X, formerly Twitter, which he is trying to reinvent as a communication platform.
But his journey is marked by new beginnings, controversies, and one obsession: changing the future of humanity.
The Story of Elon Musk
The story of Elon Musk shows that he is not just one of the most well-known entrepreneurs in the world. He is also the richest man today.
His net worth is estimated between US$ 335 and US$ 389 billion, depending on the source.
Born in South Africa, Elon Musk built his fortune with companies such as PayPal, SpaceX, and Tesla.
He became a U.S. citizen in 2002. In 2022, he bought Twitter, renaming it X.
Father of 14 children, Musk also leads the DOGE, a temporary agency created by the Trump administration to cut federal spending in the U.S.
First Steps in the Story of Elon Musk
The beginning of the story of Elon Musk. Elon Reeve Musk was born in Pretoria, South Africa, on June 28, 1971.
His mother, Maye Musk, is a Canadian model. His father, Errol Musk, is an engineer and businessman. Elon grew up with siblings Kimbal and Tosca.
During his childhood, he worked five jobs at once. At 12, he created a computer game called Blastar, which he sold for US$ 500.
He was bullied in school until he was 15, when he grew, learned karate, and began to defend himself.
At 17, he moved to Canada to avoid military service.
He obtained Canadian citizenship in 1988 and later transferred to the United States, becoming a U.S. citizen in 2002.
“I felt that this was the place where there was an opportunity to do great things,” he said years later.
Elon Musk’s Academic Background and Start in Technology
Musk began his studies at Queen’s University in Canada.
Later, he transferred to the University of Pennsylvania, where he graduated with degrees in economics and physics.
He entered a Ph.D. program at Stanford University but dropped out after two days to pursue technology.
In 1995, he founded Zip2, an online city guide. The business was sold for US$ 307 million.
Musk used the money to found X.com, which later became PayPal. The sale of PayPal to eBay earned Musk US$ 165 million.
SpaceX: Reusable Rockets and Satellite Internet
In 2002, he founded SpaceX, aiming to reduce the cost of space travel.
One of the company’s biggest milestones was the development of the Falcon 9, the first reusable orbital rocket.
SpaceX made history by sending an uncrewed capsule to the International Space Station in 2012.
In 2020, another milestone: SpaceX’s Crew Dragon carried two NASA astronauts to the space station. It was the first time a private company successfully did this.
The company also developed the Starlink project, a network of satellites providing internet to remote locations.
By 2024, over 3 million customers in 99 countries were already using the service. The company’s fleet of satellites represents 60% of the active devices in orbit.
Tesla: Electric Cars and Many Problems
Tesla was founded in 2003. Musk is a co-founder, CEO, and responsible for product design.
The first car was the Roadster, launched in 2008. Then came the Model S, Model 3, Model X, and Model Y. In 2023, the controversial Cybertruck was launched.
The Cybertruck faced criticism for not having crumple zones in case of impact. In 2024, two accidents in Texas involved the vehicle, one of them fatal.
Tesla announced six recalls of the model. The company is also under investigation for alleged safety defects.
Tesla also faces production issues, delays, and personnel cuts. In 2024, it laid off about 14% of its employees.
The Model S took four years to go into production, and the Model 3 suffered various delays. The company’s market share fell from 75% to 49% in five years.
Tesla’s Profit Decline
Recently, Tesla reported a significant drop in its financial results at the beginning of 2025.
The electric vehicle manufacturer recorded a 71% drop in net income for the first quarter compared to the same period the previous year. Profit plummeted from US$ 1.4 billion to just US$ 409 million.
The company’s revenue also shrank. The total revenue for the quarter was US$ 19.3 billion, a reduction of 9%.
According to experts, the below-expectations performance is linked to a combination of factors, including declining sales, image problems, and increased competition.
Decline in Deliveries and Production Problems: Vehicle deliveries fell by 13% in the quarter, while production dropped by 16%.
Recently launched models, like the Cybertruck, did not meet expected performance. The decline in global demand for Tesla vehicles directly contributed to the operational loss, especially affecting strategic markets like Europe and the United States.
Elon Musk’s Image Affects the Brand: Another factor pointed out by analysts was the wear on Elon Musk’s public image.
The billionaire’s association with controversial political themes, such as support for former President Donald Trump, generated criticism and protests.
The negative fallout directly impacted Tesla’s reputation, especially among European consumers.
Chinese Competition Gains Ground: Tesla also lost ground to rivals, mainly Chinese companies.
The manufacturer BYD, for example, surpassed the American brand in the number of electric vehicles sold globally, offering more competitive prices and advanced technology. This shift in the landscape further heightened the market competition, forcing Tesla to rethink its strategy.
X: From Social Network to Headache
In 2022, Musk bought Twitter for about US$ 43 billion.
After legal disputes and criticism, he took control of the company and initiated a series of changes. He fired half the staff, implemented a paid verification system, and renamed the company X.
The company lost value: an estimate by Fidelity in 2024 indicated an 80% drop in market value. X faces at least 30 lawsuits for not paying former employees or suppliers.
Musk named Linda Yaccarino as CEO in May 2024, but remains influential in decisions. The company’s headquarters was moved to Texas.
Inventions and Ambitious Projects
In addition to SpaceX and Tesla, Musk has invested in innovative projects.
One of them is the Hyperloop, a high-speed transportation system that promised to connect cities like San Francisco and Los Angeles via low-pressure tubes. The idea is virtually abandoned.
Another project is Neuralink, a company developing brain-implantable chips.
After testing on monkeys, some with severe side effects, the company implanted the first devices in humans in 2024. By 2025, three people were already using the chip.
Elon Musk’s Relationship with Trump and Involvement in Government
Musk has had a long-standing connection with former President Donald Trump. In 2016, he joined the new administration’s strategy council. He left in 2017 after the announcement of the U.S. withdrawal from the Paris Agreement.
Despite this, he returned to support Trump in the 2024 elections when the Republican defeated Kamala Harris.
After an assassination attempt on Trump, Musk appeared with him at rallies.
He also created a political action committee and promised to raffle off US$ 1 million per day to anyone who signed a petition in defense of the Constitution. The raffle faced a lawsuit but was cleared by a judge.
In 2025, he was named head of DOGE. The agency aims to cut public spending and modernize the government. It is estimated that US$ 140 billion have already been saved, although this number is contested by experts.
Recently, Elon Musk announced he would drastically reduce his time in Washington. The billionaire said he would work for the Government Efficiency Department only one or two days a week.
The change was revealed on April 22 during a meeting with Wall Street analysts.
This decision coincided with a delicate moment for Tesla. The electric vehicle manufacturer is facing declining sales, boycotts, and criticisms worldwide.
In the latest quarterly report, the company revealed a 71% drop in profits.
The reduction in Musk’s involvement with the government is seen as an attempt to regain investor confidence.
The businessman, who leads Tesla, SpaceX, and the social network X, also commented on import tariffs.
He stated that he would continue to advocate for lower tariffs, in contrast to current policy.
Cuts and Protests
The actions of DOGE resulted in the dismissal of over 131,000 federal employees. In addition, there were cuts in contracts and rents. Musk, for his part, officially serves as a senior advisor, not as the formal administrator.
The measures caused negative reactions.
Tesla dealerships faced vandalism, and protests grew. Some customers are trying to get rid of their vehicles to dissociate from Musk.
In light of the crisis at Tesla and pressure from investors, Musk announced he would reduce his role in DOGE.
Instead, he will work only one or two days a week for the government, instead of being fully dedicated.
Personal Life: Games, Children, and Controversies
Musk is the father of 14 children. He is also a fan of video games, especially Elden Ring, which he described as “the most beautiful art I have ever seen.”
His hobby was described as an “obsession” by his biographer, Walter Isaacson.
The book about Musk was a bestseller and will be adapted into a film. The director will be Darren Aronofsky. Musk praised the filmmaker’s selection.
In 2020, the billionaire stated that he would sell almost all his possessions. Shortly after, he began living in a rented house costing US$ 50,000 in Boca Chica, Texas, near the SpaceX launch site.
Musk has also publicly spoken about having Asperger’s syndrome.
The diagnosis was confirmed in an interview. This helps explain his straightforward behavior, often seen as cold or insensitive.
Volatile Fortune and Financial Milestones
Musk’s net worth has surpassed US$ 400 billion.
In 2022, he became the first person to lose US$ 200 billion. Two years later, he surpassed that mark again.
The majority of his wealth is in Tesla stock.
In June 2024, the Washington Post estimated that Musk held US$ 120 billion in company shares, a value that has grown since then.
He reached his first billion with the sale of PayPal in 2002. Since then, he has accumulated historic figures and at various times has become the richest person on the planet.
Did Elon Musk Start from Scratch?
Elon Musk did not start from scratch in the strictest sense of the phrase. Although he built much of his fortune with hard work and innovation, he had a upper-middle-class background in South Africa, which gave him significant early advantages.
Resourceful Family: Musk grew up in a relatively wealthy family. His father, Errol Musk, was an engineer and had successful businesses, including involvement in an emerald mine in Zambia, which provided the family with a comfortable life.
He did not inherit direct fortune. Musk built his wealth through the companies he founded. He faced financial difficulties at various times, including nearly going bankrupt after investing virtually all his money in Tesla and SpaceX during the 2008 crisis.
Next Steps
With Tesla’s profits declining, protests intensifying, and thus, his public image being increasingly worn, Musk is seemingly beginning to signal a change in strategy.
Reducing time in Washington may be the first step to rebalancing his priorities.
But challenges remain. Tesla is facing safety investigations. X has lost value and credibility.
Neuralink is still in the experimental phase. And Musk’s public image remains polarized.
Meanwhile, his projects continue to influence sectors such as transportation, energy, communication, and space.
The impact of Musk in the 21st century is undeniable.
It remains to be seen whether he will be able to preserve his reputation and keep the business viable at the same time.
Article created with information gathered from several reliable sources, including biography.com.
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