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Elon Musk acquires Twitter for $44 billion; here's how he made his fortune
On April 25, Twitter Inc. accepted Elon Musk’s $44 billion bid to take over the company and take it private. The bid is the biggest move yet by the eccentric billionaire. World’s richest man, Elon Musk, was already a millionaire in his 20s and has consistently parlayed his business successes into new endeavours. Here’s how he got here
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On April 25, Twitter Inc. accepted Elon Musk’s $44 billion bid to take over the company and take it private. The bid is the biggest move yet by the eccentric billionaire. World’s richest man, Elon Musk, was already a millionaire in his 20s and has consistently parlayed his business successes into new endeavours. Here’s how he got here:
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Musk started an internet business called Zip2 with his brother during the dot-com boom in 1990s. (Image: News18 Creative)
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In 1999, Zip2 was sold to Compaq Computers for $307 million, from which Musk made $22 million. He spent $1 million on a McLaren sports car and rolled the rest into his next startup with Peter Thiel, X.com which was later named PayPal. (Image: News18 Creative)
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In 2002 PayPal was sold to eBay for $1.4 billion. Musk made $100 million from the deal and founded SpaceX with most of the proceeds. (Image: News18 Creative)
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In 2004, Musk joined tesla as a first-round investor. (Image: News18 Creative)
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Tesla unveiled its first car, the Roadster in 2006. (Image: News18 Creative)
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In the year 2010, Tesla went public on Nasdaq exchange. (Image: News18 Creative)
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Tesla began deliveries of its first high-volume production car, the Model S, in 2012. (Image: News18 Creative)
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In 2017 Tesla launched Model 3, the company's biggest seller. (Image: News18 Creative)
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In the year 2021, SpaceX valued at close to $100 billion, based on financing rounds. Tesla and SpaceX have invested in Bitcoin as well. (Image: News18 Creative)
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Elon Musk believes he can unlock Twitter’s value as a private company, transforming it into a bastion for free speech. “If in doubt, let the speech, let it exist. If it’s a gray area, I would say let the tweet exist,” Musk said at a TED conference in Vancouver, April 2022. (Image: News18 Creative)
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