Elon Musk's brutal journey: from chaos in South Africa to $400 billion

Elon Musk's story began in South Africa and crossed Silicon Valley, until he became the richest man in the world, with a billion-dollar empire and revolutionary companies.

The history of Elon Musk is a curiosity for millions of people. Visionary, controversial and tireless, he transformed entire sectors of the global economy with bold ideas and high-risk decisions.

From electric cars to reusable rockets, Elon Musk’s story has shown him dreaming big—and 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 communications platform.

But his trajectory is marked by new beginnings, controversies and an obsession: changing the future of humanity.

The Story of Elon Musk

Elon Musk's story shows that he is not only one of the most famous entrepreneurs in the world. He is also the richest man alive today..

His net worth is estimated at between $335 and $389 billion, depending on the source.

Born in South Africa, Elon Musk built his fortune with companies like PayPal, SpaceX and Tesla.

He became a US citizen in 2002. In 2022, he purchased Twitter, which he renamed X.

Father of 14 children, Musk also leads the DOGE, a temporary agency created by the Trump administration to cut U.S. federal spending.

First steps in the history of Elon Musk

The beginning of Elon Musk's story. 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 entrepreneur. Elon grew up with his siblings Kimbal and Tosca.

During his childhood, he worked five jobs at the same time. At the age of 12, he created a computer game called Blastar,, which sold for $500.

He was bullied at school until he was 15, when he grew up, learned karate and began to defend himself.

At age 17, he moved to Canada to avoid military service.

He obtained Canadian citizenship in 1988 and later moved to the United States, becoming an American citizen in 2002.

"I felt that this was where there was an opportunity to do great things.”, he said years later.

Elon Musk's academic background and beginnings in technology

Musk began his studies at Queen's University in Canada.

Afterwards, he transferred to the University of Pennsylvania, where he graduated in economics and physics.

He entered a PhD program at Stanford University, but dropped out after two days to focus on technology.

In 1995, he founded the Zip2, an online city guide. The business was sold for $307 million.

Musk used the money to found X.com, which later became PayPal. The sale of PayPal to eBay netted Musk $165 million.

SpaceX: reusable rockets and satellite internet

In 2002, he founded SpaceX, with the aim of making space travel cheaper.

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 unmanned capsule to the International Space Station in 2012.

In 2020, another milestone: SpaceX's Crew Dragon took two NASA astronauts to the space station. It was the first time a private company had successfully done so.

The company also developed the Starlink project, a network of satellites that provides internet in remote locations.

By 2024, more than 3 million customers in 99 countries were already using the service. The company's satellite fleet represents 60% of the active devices in orbit.

Tesla: electric cars and many problems

Tesla was founded in 2003. Musk is 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 has been criticized for not having crumple zones in the event of an impact. In 2024, two accidents in Texas involved the vehicle, one of them fatal.

Tesla has announced six recalls of the model. The company is also under investigation for alleged safety defects.

Tesla is also facing production problems, delays and staff cuts. In 2024, it will lay off about 14% of its employees.

The Model S took four years to go into production, and the Model 3 suffered several delays. The company's market share fell from 75% to 49% in five years.

Tesla profits fall

Tesla recently reported a significant drop in its financial results for early 2025.

The electric vehicle maker reported a 71% drop in first-quarter net profit compared to the same period a year earlier. Profits plummeted from $1,4 billion to just $409 million.

The company's revenue also shrank. Total revenue for the quarter was $19,3 billion, a 9% decrease.

According to experts, the below-expected performance is linked to a combination of factors that include falling sales, image problems and advancing competition.

Drop in deliveries and production problems: Vehicle deliveries fell 13% in the quarter, while production fell 16%.

Newly launched models, such as the Cybertruck, did not perform as expected. The drop in global demand for Tesla vehicles contributed directly to the operating loss, especially affecting strategic markets such as Europe and the United States.

Elon Musk's image affects the brand: Another factor highlighted by analysts was the deterioration of Elon Musk's public image.

The billionaire's association with controversial political issues, such as support for former President Donald Trump, has sparked criticism and protests.

The negative impact was directly reflected in Tesla's reputation, especially among European consumers.

Chinese competition gains ground: Tesla also lost ground to rivals, mainly Chinese.

Manufacturer BYD, for example, has surpassed the American brand in the number of electric vehicles sold globally, offering more competitive prices and advanced technology. This change in the scenario has further intensified the competition for market share, forcing Tesla to rethink its strategy.

X: from social network to headache

In 2022, Musk purchased Twitter for around $43 billion.

After legal battles 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. AX faces at least 30 lawsuits for failing to pay former employees or suppliers.

Musk named Linda Yaccarino as CEO in May 2024, but she remains influential in decision-making. The company's headquarters have been 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 through low-pressure tubes. The idea has been virtually abandoned.

Another project is the Neuralink, a company that develops implantable chips in the brain.

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 a long-standing connection with the former president Donald Trump. In 2016, he joined the new government's strategy council. He left in 2017 after the announcement of the US'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 $1 million a day to anyone who signed a petition defending the Constitution. The raffle was the subject of a lawsuit but was cleared by a judge.

In 2025, he was appointed head of the DOGE. The agency aims to cut public spending and modernize the government. It is estimated that US$140 billion has already been saved, although this figure is disputed by experts.

Elon Musk recently announced that he will drastically reduce his time in Washington. The billionaire said he will work for the Office of Government Efficiency just one or two days a week.

The change was revealed on April 22 during a meeting with Wall Street analysts.

The decision coincided with a delicate moment for Tesla, as the electric vehicle maker faces falling sales, boycotts and criticism around the world.

In its latest quarterly report, the company revealed a 71% drop in profits.

Musk's reduced involvement with the government is seen as an attempt to regain investor trust.

The businessman, who leads Tesla, SpaceX and the social network X, also commented on import tariffs.

He said he will continue to advocate for lower tariffs, in contrast to current policy.

Cuts and protests

DOGE's actions have resulted in the layoffs of more than 131 federal employees. In addition, there have been cuts in contracts and rents. Musk, for his part, officially serves as a senior advisor, rather than as the formal administrator.

The measures caused negative reactions.

Tesla dealerships have been vandalized, and protests have grown, with some customers trying to get rid of their vehicles to distance themselves from Musk.

Faced with the crisis at Tesla and pressure from investors, Musk announced that he will reduce his involvement in DOGE.

Instead, he will work just one or two days a week for the government, rather than working full time.

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 has been described as a “addiction” by his biographer, Walter Isaacson.

The book about Musk was a bestseller and will be adapted for the cinema. The director will be Darren Aronofsky. Musk praised the choice of the filmmaker.

In 2020, the billionaire said he would sell almost all of his assets. Shortly after, he moved into a $50 rental home in Boca Chica, Texas, near the SpaceX base.

Musk has also spoken publicly about having Asperger's syndrome.

The diagnosis was confirmed in an interview. This helps explain his direct behavior, which is often seen as cold or insensitive.

Volatile fortune and financial milestones

Musk's net worth has already surpassed US$400 billion.

In 2022, he became the first person to lose $200 billion. Two years later, he surpassed that mark again.

Most of his wealth is in Tesla stock.

In June 2024, the Washington Post estimated that Musk owned $120 billion in company stock, a figure that has since grown.

He made 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 term. Although he built much of his fortune through hard work and innovation, he had an upper middle class background in South Africa, which gave it significant initial advantages.

Family with resources: Musk grew up in a relatively wealthy family. His father, Errol Musk, was an engineer and had successful business interests, including a stake in an emerald mine in Zambia, which provided the family with a comfortable life.

He did not inherit his fortune directly. Musk built his wealth from the companies he founded. He has struggled financially at various times, including nearly going bankrupt after investing almost all of his money in Tesla and SpaceX during the 2008 financial crisis.

Next Steps

With Tesla's profits falling, protests intensifying and its public image increasingly tarnished, Musk is apparently beginning to signal a change in strategy.

Reducing your time in Washington may be the first step toward rebalancing your priorities.

But challenges remain. Tesla faces safety investigations. AX has lost value and credibility.

Neuralink is still in the experimental phase. And Musk's public image remains polarized.

Meanwhile, their projects continue to influence sectors such as transportation, energy, communications and space.

Musk's impact on the 21st century is undeniable.

It remains to be seen whether he can preserve his reputation and keep the business viable at the same time.

Article made with information collected from some reliable sources, such as biography.com.