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The Truth About Elon Musk
What You Need to Know Before You Start Investing
The Truth About Elon Musk
Elon Musk has become one of the most recognizable names in tech and the modern entrepreneur. The former computer science student from South Africa, who dropped out of college to work for his uncle’s IT company, has since built one of the world’s most valuable and influential companies: Tesla Motors, Inc.
Tesla is a California-based manufacturer and service provider of electric vehicles, batteries and charging stations for those vehicles. It began as a small company, X-Prize, launched in 1997 by Elon Musk and Peter Diamandis with an initial investment of $1 million each.
The original intent was to fund the development of prototype spacecraft built by students interested in space exploration. In 2001, after winning the $10 million prize contest held by NASA, Musk and his team changed the name to Tesla Motors Inc., which means “Britain rewards” in English.
The car-making company now produces electric cars under its brand and those made by other manufacturers such as BMW and Nissan. As well as its controversial decision to take payment in stock options instead of cash; which has been met with resistance from employees who feel they are not…
