Elon Musk: A 21st Century Billionaire Entrepreneur - Research Paper

Introduction

In the 21st century, Elon Musk is one of the best-known billionaire entrepreneurs. This is from his inventories and the launching of successful projects. One of his outstanding projects is Space X, a private aero scope manufacturer that offers regular space transport services to big companies since 2002. His second great project is the TELSA motors- a company that makes autonomous electric cars. Also, it offers solar energy solutions to other companies. PayPal is another project by Musk, which enables online money transactions. Musk has made it and is still on his career invention process in the betterment of today's world.

Is your time best spent reading someone else’s essay? Get a 100% original essay FROM A CERTIFIED WRITER!

Save 25%

Before his intervention, the aero scope sector faced challenges. The moon mission was a dream that could never be managed. The landing of rockets was a significant issue as they did not have landing pads and could not reuse rockets. In the car industry, gasoline, which is expensive, was used to move engines and had limited speed. Solar energy was not easy to store. Similarly, traditional methods were used in money transfer, which was limited, obvious, insecure, and tedious to operate (Brian, 2019).

Elon Reeve Musk, born 1971, is a citizen of South Africa, Canada, and America. At the age of 10, Elon had a passion for computers and learned programming, at the age of 12 he sold his first software, a game called Blaster (Zam, 2018). In his various career courses, Elon attended the University of Pretoria shortly before moving to Queen's University in Canada to avoid compulsory military enrolment in south Africa (Musk, 2019). His computer passion continued at Pennsylvania university, where he concentrated on: internet, sustainable energy, space travel, genetics, and artificial improvement (Zam,2018). He graduated with two undergraduate degrees in Economics and the second one in Physics in 1992. Later, in 1995 he launched his first company, Zip2. Today, Musk is the CEO of his projects.

Musk launched Space X in 2002 when he wanted to excite the world by sending a rocket to space, including planet mars and back. Before aero scope, engineering companies had tried to carry people to mars but had failed. As a rising company space x worked in conjunction with Tom, an engineer, and had the first rocket falcon1 launch in 2007- the only private liquid propellant spacecraft, there were 17 more launches by Space X that year (Musk, 2019). Falcon 1 had five starts where the last two were successful. Unlike other companies, Space X gained notoriety for its quick dummy payload in satellite experiments. In 2008 falcon 9 rocket by Space X brought a change from small satellites to a bigger one, which had a better profit margin (Smith,2019). Therefore, NASA hired Elon's company.

In their contract with NASA, Space X has proved technological intelligence. Elon managed the CRS-5 program, which supplied NASA's space station with payloads that supported 256 scientific research. The mission was a success by the end of 2011. In March 2019, Space X launched a Dragon spacecraft called crew dragon, which will be used to transport NASA astronauts to and from the ISS station (smith,2019). Space X has a 2020 mission of making a manned crew dragon for NASA (Musk, 2019).

By December 2010, the aero scope sector experienced a boost from Space X by the launch of the first dragon cargo capsule. The cargo capsule made the history of launching and re-entering low earth's orbital. In 2012, space x made a crucial step in technology as another dragon launch proved secure docking of orbiting stations. Space x modified falcon nine and was able to land in the Atlantic Ocean by April 2014, and in 2015, the company made history by landing it on a land pad. Elson and his Space X company were able to do the first reuse of orbital rockets in 2017, where the first rocket refight were launched through modified boosters (Smith,2019).

Elson made the aero scope industry recognizable by launching the best rocket named rocket Heavy in 2018. This was an inspiring achievement since the start of the moon mission; two spacecraft were landed consecutively (Smith,2019). Currently, Space X engineers are utilizing their technological achievements in the trial of replacing rockets with starships. The first prototypes are being constructed in Texas and Florida, where test flights are scheduled by 2021.

Musk became a shareholder of Telsa motors in 2003, where he contributed $30 million. Under Elon, Telsa motors invented the first completely electronic car, the Roadster. This car achieved 245 miles after a single charge. Before, no such vehicle was in this sector. Roadster gave out tailpipe emissions through an internal combustion engine. The car's efficiency ratings were equivalent to a gasoline mileage of 235 miles; therefore, the car saved energy and reduced cost. Elon Musk became the CEO of Telsa motors in 2010. In 2012, the company stopped manufacturing Roadster and concentrated in the S sedan model, which had three battery options, unlike the single in Roadster. The sedan model accelerated at 60 miles per hour and covered 300 miles in one charge (Erick & Barbra, 2019).

From 2012, Musk launched stations called superchargers in America and Europe, which charged batteries quickly at less cost. In 2015, Telsa branded Crossover Model X, which was improved than the sedan. It covered 295 miles and was cheaper. Later in 2017, due to cheap motors demand, Telsa stated manufacturing Model 3 vehicles with a four-door sedan and a 220 mileage. Besides, Telsa branched a solar energy invention with a line of batteries storing electric power (Erick & Barbra, 2019). The power is offered for use to other companies.

PayPal company was owned by Musk in 2000 when he merged it with X.com. Musk's company became popular in 2002, which helped the world in diversifying the old traditional methods of money transfer. In 2005 PayPal acquired the VeriSign payment solution and expanded the e-commerce sector, becoming the best in money transfer after introducing secure card service. In 2007 PayPal was giving money transfer services in websites by generating unique MasterCard. By 2010 PayPal had transformed the transactions of more than 100 million users of 25 currencies (Brian, 2019).

Musk built Merchant Service Division, which provides e-payment programs for eBay. Elon signed a mutual agreement with Discover Card, which expanded PayPal services to the 7 million Discover Card store network. Elon brought PayPal together with Palo Alto, Braintree, and Chicago Payment Gateway, which developed mobile money transfer in 2013. 2015 Elon launched a peer-to-peer PayPal service that allows users to send links to request funds via SMS and email. In 2018 PayPal bought iZettle, the best company in-store expertise, and digital marketing (Brian, 2019). In 2019 PayPal partnered with Instagram to reach out to more clients.

Following the great achievements by Musk at Telsa Motors, messages of critics are evident. Bob Lutz, head of GM, has criticized that Telsa exaggerates the electric vehicles. Model 3 and Roadster cars being the topic. This arises from the competition in the car market as Telsa does well. Critics report predicts PayPal h to fall after the end of the contract with eBay services in 2020. These reports say that it will remain dormant as it is annoying. Again this is related to competition in the e-economics market.

With high regards to Elon Musk's achievements and plans in the three fields, It is evident that he is a real transformer to the technology sector and the world at large. Bearing the transition, he has brought, Elon Musk will continue to prosper in his career evolvement besides all critics he gets.

Works Cited

"Elon Musk." Elon Musk Biography, A&E Networks Television, 12 Dec. 2019, www.biography.com/business-figure/elon-musk.

Gregersen, Erik, and Barbara A. Schreiber. "Tesla, Inc." Telsa Motors, Encyclopaedia Britannica, Inc., 18 Sept. 2019, www.britannica.com/topic/Tesla-Motors.

O'Connell, Brian. "History of PayPal: Timeline and Facts." PayPal, 26 Aug. 2019, www.lb7.uscourts.gov/documents/11c6472.pdf.

Smith K.L. "SpaceX CRS-5 Mission Press Kit" July 2019. www.spacex.com/sites/spacex/files/spacex_nasa_crs-5_presskit.pdf.

Jacob. D. "The Working Journey of Elon Musk". www.theworkingjourney.com/wp-content/uploads/2017/06/The-Working-Journey-of-Elon-Musk.pdf.

ZamTheWriter. "The Central Question That Inspired All of Elon Musk's Businesses." CNBC, CNBC, 22 June 2018, www.cnbc.com/2018/06/22/the-central-question-that-inspired-all-of-elon-musks-businesses.html.