Ilan Mask is one of the most prominent, richest and, of course, most influential people on the planet, who will probably one day be heard on Mars. Mask, who runs several companies, is now in his 50s, and we want to take a look at his big breaks in the past on the occasion of his birth.
Mask has gone through ups and downs in the business world, and although he now manages the world’s most valuable car company, Tesla, his other company, SpaceX, is changing space missions, and Starlink’s satellite Internet wants to take over the world of wireless communications. But not everything has always been so good.
Most successful people have experienced failure before they succeeded, but unlike ordinary people, they have not given up and have continued on their way. Of course, you have heard many times to say that successful people learn from their failures and, with more perseverance and experience, follow the path to ultimate success.
Ilan Mask is one of those people who experienced failures before achieving the successes that the whole world knows him today, failures that could have resulted in the end of Mask’s work in many areas, from electric vehicles to the space industry. . But now Mask is in a position to make him one of the most influential people on the planet.
In this article, on the occasion of the 50th anniversary of this billionaire entrepreneur, we have decided to take a look at the big breaks of Ilan Mask. Stay with Digito until the end.
1. Not hiring in Netscape and being fired as CEO of zip2
Ilan Musk, who is considered an iron man or the character of “Tony Stark” in the real world, from the very beginning sought to enter the world of technology and create a role in this field. The billionaire entrepreneur initially wanted to work for an Internet company and even sent his request to the company of those years, Netscape, but received no response.
Not being hired by Netscape did not stop Mask from giving up, and he decided in 1995 to start his own company with his brother and a friend. The company was named zip2.
The company was doing well, but Musk was fired as CEO of zip2 and continued as vice president and chief technology officer. Instead of Mask, a more experienced businessman named Richard Sorkin was chosen as CEO, but this position was not very loyal to Sorkin because zip2 was sold to Compak in 1999. Musk received $ 22 million from the sale of a 7% stake.
۲. People was chosen as one of the worst business ideas of 1999
Given the world we live in today, it is hard to even imagine that people are one of the worst business ideas. But that was the case in 1999. People’s initial product was a failure, but the team was not disappointed with its idea.
The team then worked on the idea of creating a better view of the company, which focuses on online money transfer. In 2002, People was sold to e-Bay. Ilan Musk, with a 11.7 percent stake as the largest shareholder, gained just over $ 100 billion. Of course, it is not bad to mention that the mask was removed from the CEO of People.
3. Failure to receive rockets from Russia
With the money he earned from selling the people, Musk sought to send a cargo to Mars and hoped to send a mouse to the Red Planet to draw public attention to space exploration. To do so, Mask sought to purchase three intercontinental ballistic missiles, but the Russians did not sell the rockets to Mask, despite raising the price of each to $ 21 million.
Mask was still interested in investing in rocket technology and once again approached the Russians, but this time the Russians rejected Mask’s chest. The entrepreneur then decided to build a rocket himself.
4. Consecutive explosions of SpaceX rockets
With SpaceX, Musk wanted to transform the industry and space missions with reusable rockets, which, although he has now achieved that goal, was not very lucky at first. The first SpaceX launch failed in 2006. This trend continued in 2007 and 2008, and the 2008 rocket also carried NASA satellites.
These rocket failures and explosions were not unique to 2010, as the SpaceX rocket exploded in 2013 during landing. In 2015, several other incidents occurred again, and the company’s rockets exploded while launching, as well as during launch.
These explosions and successive failures made many unsure of the success of the mask idea and condemned it to failure, although Mask himself was aware of the sensitivity of such an industry and did not let the failures hinder his progress in this field.
Even today we see such explosions, although they can not be considered a defeat. Prototypes of the Starship rocket, which seeks to make it easier to travel to the moon and make it possible to travel to Mars, have failed and exploded repeatedly in experiments to date. However, next month, the giant rocket is likely to make its first orbital test flight, which may be added to the list of mask breakers.
5. Tesla and SpaceX financial crisis in 2008
Musk went through a lot of financial difficulties before he became one of the richest people in the world and Tesla was named the most valuable carmaker in the world. According to Bloomberg, Tesla and SpaceX were on the verge of bankruptcy in 2008.
Tesla had difficulty funding the Model S and also had no income for the mask. However, Musk decided to devote all his capital to these companies and somehow gambled on them.
In order to support Tesla, Musk worked more than 20 hours a day, sleeping in the factory, in addition to his personal capital. Eventually these efforts paid off and both companies were saved from bankruptcy. SpaceX won NASA’s $ 1.6 billion shipment contract in late 2008 after launching the Falcon 1 rocket, and SpaceX was able to move on.
6. Delay in Tesla Model X release
The Model X is Tesla’s popular electric crossover that came on the market later than expected. In a letter to investors in 2016, Tesla announced that production of the Model X would be delayed due to high demand for the Model 3.
In addition to high demand for the Model 3, Tesla also struggled to supply parts for the Tesla Model X and was unable to produce and supply the crossover as it wanted. However, over time, Tesla Model X production and delivery increased.