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The Daily Mag -->


Monday, April 15, 2019

How much did Elon Musk make by selling Paypal ?

$180 million.
And what he did with the money is pretty interesting, too. Talk about being “all in”.
“My proceeds from the PayPal acquisition were $180 million. I put $100 million in SpaceX, $70m in Tesla, and $10m in Solar City. I had to borrow money for rent.”
― Elon Musk
Elon Musk in 2008 - from 60 Minutes Interview
How’d investing literally all his money into his business ventures back in 2008 work out for him?
Let’s take a look.
60 Minutes Interview Featuring Clips From 2008 and 2018, and contrasting the difference
Tesla 2018 Promo Video
Tesla 2018 Profitability (Bloomberg)
Tesla - more than just cars: Gigafactory
In 2018 and now, into early 2019, many people have focused on Elon Musk’s dramas and challenges - tweets, weed, the SEC - and Elon has done what Elon always does: worked his butt off to make his ongoing vision a reality.
“If you focus on Tesla the company, then 2018 has been very good indeed. And it couldn't have come at a better time: Musk himself admitted that a successful ramp-up of Model 3 production was key to the success of his young company.
Tesla won't release official figures until the new year, but Kelley Blue Book estimates the company had sold about 160,000 cars (including models S and X) through the end of November. “Last year was around 50,000, so it’s more than triple the sales," says KBB analyst Tim Fleming.”
And, per the original quote above, Elon Musk does some other stuff, too.
With rockets.
And how’s that going?
Was investing $100 million of his $180 million payout from Paypal into the possibility of creating a viable commercial space company worth it? Let’s take a look.
SpaceX Makes History
Reusable Rockets = Kind of a Big Deal. Imagine if your company was the first to come up with actual, workable, reusable airplanes. Lowers costs. A Lot.
SpaceX Makes History x2, Lands Rocket at Sea
SpaceX Makes History Some More
aka - starting at 0:25 in the video clip below: “When the news in 2018 looks like you thought news would look like, in 2018”
Oh, and - for the first time since 2011 - American astronauts will be launching on American rockets from American soil.
Thank you, Elon Musk, SpaceX and NASA.
Anything else? Oh, right.
M A R S —- 2024
But is SpaceX doing anything that all of us, or even many of us might get to enjoy?
How about ——- travel to any point on the planet (Earth) in under one hour? Sounds good to me.
Right. So what might Musk and SpaceX do for an encore?
How about broadband internet? For everyone. Everywhere (on Earth) - ? Literally.
“With Starlink, SpaceX intends to put a “constellation” of satellites in low earth orbit, thereby providing high-speed, cable-like internet to every corner of the planet. “
It seems like Elon Musk used the money he received from Paypal as well as it could be used - not just for the benefit of his future businesses, but for the benefit of everyone who enjoys, and who will enjoy, the revolutionary technologies, products and achievements that his companies are creating.
Note: In 2008, Elon Musk briefly had a net worth of $180 million - but it rapidly went to $0 (since he invested it all in his companies, and had to borrow money for rent). So what is Elon Musk’s net worth in early 2019? It is estimated at $22.4 billion; he is now one of the wealthiest people in the world.

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