uniladtech homepage
  • News
    • Tech News
    • AI
  • Gadgets
    • Apple
    • iPhone
  • Gaming
    • Playstation
    • Xbox
  • Science
    • News
    • Space
  • Streaming
    • Netflix
  • Vehicles
    • Car News
  • Social Media
    • WhatsApp
    • YouTube
  • Advertise
  • Terms
  • Privacy & Cookies
  • LADbible Group
  • LADbible
  • UNILAD
  • SPORTbible
  • GAMINGbible
  • Tyla
  • FOODbible
  • License Our Content
  • About Us & Contact
  • Jobs
  • Latest
  • Topics A-Z
  • Authors
Facebook
Instagram
X
TikTok
Snapchat
WhatsApp
Submit Your Content
Elon Musk took this major risk at age 27 and it made him a millionaire

Home> News> Tech News

Published 15:54 17 Jan 2025 GMT

Elon Musk took this major risk at age 27 and it made him a millionaire

This one risky business move served as the foundation for the billionaire's success

Harry Boulton

Harry Boulton

google discoverFollow us on Google Discover
Featured Image Credit: Steve Granitz / Contributor / Paul Harris / Contributor / Getty
Elon Musk
Money

Advert

Advert

Advert

One of Elon Musk's earliest business risks paid off massively for the tech mogul, transforming him into a millionaire at age 27 and serving as the foundations for the massively successful businessman he is today.

Finding success in business is very much a case of taking the right risks and hoping that you find a bit of luck along the way.

One clever investment or key decision could be make or break for many, and that success can very much continue down the line if you make the right moves.

That's very much the case for Elon Musk, as the richest man in the world didn't exactly have the most glamorous beginnings to his business career, yet one smart risk that involved betting on the success of the internet allowed him to soar quickly up the financial ladder.

Advert

The risk in question was starting a company called Zip2 with his brother Kimbal, which provided city guides for online use to newspapers.

While this might not sound particularly interesting or innovative to modern ears, it proved to be an incredibly savvy move at a time when the internet was in its infancy.

Zip2 allowed Musk a platform that made him to billionaire he is today (CBS News)
Zip2 allowed Musk a platform that made him to billionaire he is today (CBS News)

Serving as a digital yellow pages of sorts, Musk convinced electronic map company Navteq to license their mapping software to him for free, which he then combined with business listing databases to create Zip2.

It was such a financial risk for the pair that they had to live in the company's offices as they couldn't afford their own place to stay, but that perhaps showed their dedication to making Zip2 a success.

The company was eventually bought four years after Musk and his brother started out for a staggering $307,000,000, and Elon pocketed around $22,000,000 of that figure.

He used that as a launching point into what he is today, having merged his X.com online bank with PayPal and eventually sold that to eBay for $1,500,000,000 in 2002.

After that sale he finally created what many call his finest work in SpaceX - an aeronautics company that has been able to rival NASA in recent years and maintains its aim to send humans to Mars.

Musk, now the richest man in the world, has used his money to gain political power alongside Trump (Brandon Bell/Getty Images)
Musk, now the richest man in the world, has used his money to gain political power alongside Trump (Brandon Bell/Getty Images)

Of course, Elon's success has now led him to become the richest individual in the world, holding a net worth of $439,000,000,000 according to the Bloomberg Billionaires Index - which is nearly double that of Jeff Bezos in second place.

While he does have notable failures such as his acquisition of Twitter - which has dropped 72% in value since Musk's takeover - his businesses remain ultra-successful and have allowed him to power himself into US politics with Donald Trump's recent election victory.

Choose your content:

19 hours ago
20 hours ago
21 hours ago
  • Fort Lauderdale Sheriff's Office
    19 hours ago

    What sentence streamer Clavicular is likely to face following arrest and ban from Kick

    This isn't Braden Peters' first brush with the law

    News
  • Antena 3
    20 hours ago

    25-year-old woman with depression to be euthanised after family lose legal battle has died

    She became the first Spanish citizen to quality for mental health-related assisted dying

    News
  • Thanasis Zovoilis / Getty
    21 hours ago

    First evidence-based government guidance on screen time will set new limits on kids' scroll time

    It's doing far more damage than just giving them square eyes

    News
  • UNILAD Tech
    21 hours ago

    World’s largest battery made of sand powers an entire town and could be the key to solving climate change

    The sustainable alternative keeps the town of Pornainen, Finland, warm

    News
  • This tweet might've just cost Elon Musk $1,000,000,000 as landmark trial goes to jury
  • Elon Musk predicts massive economic growth in ten years but one terrifying scenario could ruin it all
  • Elon Musk reveals exactly what he plans to do with any money he receives from OpenAI case
  • Estimated cost of Elon Musk's home as billionaire's mom reveals 'he has no food in the fridge'