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Elon Musk shares the unconventional secrets to his business success
February 2, 2021
Elon Musk has now surpassed Amazon founder Jeff Bezos as the world’s richest person.
The entrepreneur behind Tesla and SpaceX now boasts a net worth of around $185bn (£136bn) following a spike in the share price of his electronic car company.
Unlike many of his formal, straight-laced billionaire counterparts, Elon Musk can regularly be found on Twitter posting his favourite memes or on the Joe Rogan podcast smoking marijuana.
The eccentric South Africa born billionaire has shed light on some of the more unconventional tips that have helped propel him to ‘richest human on the planet’ status.
As it turns out, the trick is to avoid focusing on the money.
Despite being in possession of more money than some entire countries, Musk insists he is not financially motivated.
He has always had aspirations of making trips to Mars the norm, with a space-bound shuttle service. After deeming the United States space programme unambitious, Musk took matters into his own hands; and thus, SpaceX was born.
Talking to the BBC last year, Musk claimed he “regards himself as an engineer rather than an investor, and says what gets him up in the morning is the desire to solve technical problems.”
Reinforcing his claim that money is not the motive, Musk seemingly just has a desire to make the impossible, possible; or at the very least plausible.
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It is, however, undeniable that one could accumulate so much wealth without being even moderately savvy with money. To get to that level, Musk claims you cannot be afraid of taking risks.
Whether it be reupholstering the car industry, plotting underground tunnels to ease the burden of traffic in Los Angeles, making Mars a holiday hotspot or even placing AI technology into the human brain – Musk thinks big at all times, there is little room to worry about risk of failure.
SpaceX’s first three attempted launches failed miserably; in Musk’s mind it was simply another learning curve.
When the financial crisis of 2007-08 struck, the after effects were felt by even the wealthiest of companies. Musk had millions to his name, but two companies to run – faced with the dilemma of keeping the money for himself but letting the companies slowly fall apart or roll the dice and continue to invest in his ideas, Musk opted for the latter.
Relying on friends' money to live, Musk claims he was never intimidated by the prospect of bankruptcy.
It’s clear the billionaire’s bullish confidence has helped in his pursuit of all his extraordinary goals, with Musk’s main tip for success serving him well – separate money and motivation.