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Last Updated : Oct 01, 2018 10:16 AM IST | Source: Moneycontrol.com

The highs and lows in Elon Musk's life: Telsa CEO to cough up $40 million in fines

From building spacecrafts and Flamethrowers to tweeting sensitive info, Elon Musk has been there and done that. Here's how the business magnate/investor made headlines for the better part of the millennium, albeit not always for the right reasons.

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The perfect rags to riches story | At the age of 25, Elon Musk along with his younger brother Kimbal founded Zip2, a company which provided online city guide software to newspapers. It was basically Google Maps of the late 90s. Musk sold the company to Compaq Computer in 1999, four years after it was founded for $307 million. Musk personally netted $22 million from the acquisition. (Image: Reuters)
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The perfect rags to riches story | At the age of 25, Elon Musk along with his younger brother Kimbal founded Zip2, a company which provided online city guide software to newspapers. It was basically Google Maps of the late 90s. Musk sold the company to Compaq Computer in 1999, four years after it was founded for $307 million. Musk personally netted $22 million from the acquisition. (Image: Reuters)

Criticising public transport | During a Tesla event on the sidelines of the Conference on Neural Information Processing Systems in December 2017, Musk ranted about public transport saying, "I think public transport is painful. It sucks." This attracted backlash from both public and transit experts. It prompted Urban Planning expert Brent Toderian to start a hashtag #GreatThingsThatHappenedonTransit. It was widely adopted by Twitter users to dispel Musk's notion that the general public hates public transport. (Image: Reuters)
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Criticising public transport | During a Tesla event on the sidelines of the Conference on Neural Information Processing Systems in December 2017, Musk ranted about public transport saying, "I think public transport is painful. It sucks." This attracted backlash from both public and transit experts. It prompted Urban Planning expert Brent Toderian to start a hashtag #GreatThingsThatHappenedonTransit. It was widely adopted by Twitter users to dispel Musk's notion that the general public hates public transport. (Image: Reuters)

Reshaping the banking industry | After making his mark on the Silicon Valley with Zip2, Musk envisaged on his next big venture with his online banking company X.com. The company faced the angst of the general public, as the idea of trusting the security of the internet for online banking seemed crazy to the uninitiated. Nonetheless, the company was a huge hit and outclassed its biggest rival Confinity. The two companies ultimately merged in 2000 and is today widely recognised as PayPal. eBay went on to purchase PayPal in 2002 for $1.5 billion– netting Musk $250 million. (Image: Reuters)
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Reshaping the banking industry | After making his mark on the Silicon Valley with Zip2, Musk envisaged on his next big venture with his online banking company X.com. The company faced the angst of the general public, as the idea of trusting the security of the internet for online banking seemed crazy to the uninitiated. Nonetheless, the company was a huge hit and outclassed its biggest rival Confinity. The two companies ultimately merged in 2000 and is today widely recognised as PayPal. eBay went on to purchase PayPal in 2002 for $1.5 billion– netting Musk $250 million. (Image: Reuters)

Pedo guy row | In July 2018, Musk attempted to build a mini-submarine to assist Thai cave rescuers, after 12 boys along with their coach were stuck in Tham Luang Nang Non cave in Chiang Rai Province, Thailand. One of the divers engaged in the rescue mission called Musk's rescue pod a PR stunt which prompted the Tesla honcho to refer to him as "pedo guy" without providing any evidence to support the claim. Following the offensive remark, the shares of Tesla plummeted by 4 percent. Musk subsequently deleted the tweet and apologised for his behaviour. (Image: Reuters)
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Pedo guy row | In July 2018, Musk attempted to build a mini-submarine to assist Thai cave rescuers, after 12 boys along with their coach were stuck in Tham Luang Nang Non cave in Chiang Rai Province, Thailand. One of the divers engaged in the rescue mission called Musk's rescue pod a PR stunt which prompted the Tesla honcho to refer to him as "pedo guy" without providing any evidence to support the claim. Following the offensive remark, the shares of Tesla plummeted by 4 percent. Musk subsequently deleted the tweet and apologised for his behaviour. (Image: Reuters)

The advent of SpaceX | When Musk was a little boy, he dreamt of going to Mars. But, after going through NASA's website and finding no plans or even a mention of going to the planet, he decided to buy a rocket. Musk visited Russia but was quoted with obnoxious prices, therefore he immersed himself in books studying how rockets are built. In 2002, Musk founded Space Exploration Technologies Corporation (SpaceX); and now the company is working towards colonisation of the Red Planet. (Image: Reuters)
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The advent of SpaceX | When Musk was a little boy, he dreamt of going to Mars. But, after going through NASA's website and finding no plans or even a mention of going to the planet, he decided to buy a rocket. Musk visited Russia but was quoted with obnoxious prices, therefore he immersed himself in books studying how rockets are built. In 2002, Musk founded Space Exploration Technologies Corporation (SpaceX); and now the company is working towards colonisation of the Red Planet. (Image: Reuters)

The cannabis showdown | In mid-September 2018, Musk appeared on The Joe Rogan Experience podcast, where he was seen huffing and puffing a cannabis-laced cigarette offered by Rogan. Various media outlets attributed the incident to Musk's "growing instability". Tesla's stock plummeted that day and speculation of SpaceX's contracts with the US Air Force getting sidelined started looming. Although the USAF denied an investigation, they later stated that the Air Force is processing the situation. (Image: Reuters)
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The cannabis showdown | In mid-September 2018, Musk appeared on The Joe Rogan Experience podcast, where he was seen huffing and puffing a cannabis-laced cigarette offered by Rogan. Various media outlets attributed the incident to Musk's "growing instability". Tesla's stock plummeted that day and speculation of SpaceX's contracts with the US Air Force getting sidelined started looming. Although the USAF denied an investigation, they later stated that the Air Force is processing the situation. (Image: Reuters)

Most valuable apology of all time | During a press call after Tesla's Q2 results in August, Musk apologised to Wall Street analysts over rude remarks during the company's conference call three months earlier. The apology saw Tesla's share surge by 8.5 percent, adding around $4.75 billion to the stock's value. (Image: Reuters)
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Most valuable apology of all time | During a press call after Tesla's Q2 results in August, Musk apologised to Wall Street analysts over rude remarks during the company's conference call three months earlier. The apology saw Tesla's share surge by 8.5 percent, adding around $4.75 billion to the stock's value. (Image: Reuters)

What prompted the billion dollar apology | During Tesla's Q1 press call in May 2018, Musk branded Wall Street analyst as "boring bonehead" after he was questioned about the company's record net loss. It was not the only question that irked the CEO. Musk was also asked about the next step for the Tesla 3 car, to which he replied, "We're going to YouTube. Sorry, these questions are so dry." (Image: Reuters)
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What prompted the billion dollar apology | During Tesla's Q1 press call in May 2018, Musk branded Wall Street analyst as "boring bonehead" after he was questioned about the company's record net loss. It was not the only question that irked the CEO. Musk was also asked about the next step for the Tesla 3 car, to which he replied, "We're going to YouTube. Sorry, these questions are so dry." (Image: Reuters)

Musk-SEC row | In August 2018, Musk had tweeted his plans to take Tesla private at $420 a share. He claimed that the funding was "secured" and that the potential investors included Saudi Arabia’s sovereign wealth fund. The US Securities and Exchange Commission branded the tweet as misleading and fraudulent, which led to Musk stepping down as the company’s chairman on September 29, but he would remain CEO. Musk has been fined $40 million over the issue. (image: Reuters)
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Musk-SEC row | In August 2018, Musk had tweeted his plans to take Tesla private at $420 a share. He claimed that the funding was "secured" and that the potential investors included Saudi Arabia’s sovereign wealth fund. The US Securities and Exchange Commission branded the tweet as misleading and fraudulent, which led to Musk stepping down as the company’s chairman on September 29, but he would remain CEO. Musk has been fined $40 million over the issue. (image: Reuters)

First Published on Sep 30, 2018 07:39 pm
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