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Elon Musk: What Are The Secrets To The Success Of The World’s Richest Man?

Musk doesn’t expect to be rich till his old age. He thinks most of his money will be spent on building a base on Mars, and he wouldn’t be surprised if all his savings were spent on the project.

Photo credit: BlockWorks Group.

Don’t just run after making money

Elon Musk is not against those who want to make money. He says one must run after wealth “provided it is moral and good”, but he says it does not encourage him to move forward. Certainly, this approach works.

“It’s not like there’s a lot of cash,” he said. It’s just that I have a certain number of shares in Tesla, SpaceX, and Solar City, and those shares are important in the market. “

But Musk doesn’t expect to be rich until the end of his life (reaching old age). He thinks most of his money will be spent on building a base on Mars, and he wouldn’t be surprised if all his savings were spent on the project.

In fact, like Bill Gates, he thinks that if his life were to end in such a way that he had crores of rupees in his bank, he would consider it his failure, because it would mean that he would have made that money better. Not used in style.

One of the amazing things about Elon Musk’s business is how fearless and brave he is. He wants to revolutionize the car industry, populate Mars, run high-speed trains in vacuum tunnels, integrate artificial intelligence with the human brain, and advance the solar and battery industries.

Go after your passion

“You want to make the future better,” Musk told Mr. Rowlett. For that, you have to do these new exciting things that make life better. ‘ The base on Mars is a perfect example of what Elon Musk sees as the key to success.

Take the example of SpaceX. Elon Musk told that he set up the company because he was disappointed that the US space program was not as committed as it should have been.

This is why he came up with the idea for a Mars Oasis mission to send a small greenhouse to the red planet. The idea was to get people excited about space once again, as well as to persuade the US government to increase NASA’s budget.

As he was thinking of moving beyond the earth, he realized that the problem was not a lack of desire but a lack of guidance and resources. Space technology is more expensive than you think of it. And that compelled Musk to start the world’s cheapest rocket-launching business. The notable thing here is that this business was not started to make money, but to land a person safely on Mars.

Elon Musk sees himself as an engineer rather than an investor

Musk told Mr.Justin Rowlett during the interview session that he sees himself as an engineer rather than an investor and says that what inspires him to get up in the morning and work is his desire to solve technical problems.

This is his measure of growth, instead of depositing dollars in the bank. Elon knows that if his business solves any obstacle, it means it will help everyone who was trying to solve the same technical problem.

Don’t be afraid of doing something big

One of the amazing things about Elon Musk’s business is how fearless and brave he is. He wants to revolutionize the car industry, populate Mars, run high-speed trains in vacuum tunnels, integrate artificial intelligence with the human brain, and advance the solar and battery industries.

All of his projects are fantasies about the future that you may have seen in children’s magazines in the early ’80s. Musk does not deny the fact that books and movies he read as a child in South Africa had a profound effect on his personality.

Don’t step back

Elon Musk believes that the structure of most companies lacks commitment. He said that many companies are ‘incrementalists’. “If you’re the CEO of a big company and want to make some small improvements, but it takes longer than expected and it doesn’t get any better, no one will blame you,” he says. ۔ You could say it was not my fault, it was the supplier’s fault. ”

“If you are a courageous person and really want to improve but your plan does not work out, you will definitely be fired.” So his advice is to make sure you are focusing on the really important things.

Musk wants to accelerate energy obtained from fossil fuels besides conquering mars.

Be ready to take risks

You need more than luck to succeed in the affiliate business. You have to be more discriminating with the help you render toward other people.

By 2002, Musk had sold his shares in the first two business companies, including Zip2, an internet city guide, and PayPal, an online payment company. He was about 30 years old at the time and had about ً 200 million in the bank.

Musk planned to put half of his wealth into business and save the other half. “I had to make a choice,” said Musk. “I could have kept the money, but in that case, the companies would have run out, or I would have invested in what I had, and I would have had a chance.” He decided to invest.

Also Read: Spectacular Journey Of Elon Musk: From A South African Schoolboy To The World’s Richest Man

Don’t listen to critics

What surprised Elon Musk, and he is still upset with, was the fact that his critics and commentators rejoiced at his failure. “There were a number of blog sites that were monitoring Tesla’s demise,” said Musk.

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