6 secrets of success from Elon Musk, the richest man in the world

Elon Musk, CEO of Tesla, an American electric vehicle company, has become the world’s richest.

On the 7th (local time), as Tesla’s stock price exceeded 800 dollars, Musk’s net worth exceeded 188 billion dollars (about 202 trillion 2235 billion won). Thanks to the boom in Tesla’s stock price since last year, it beat Amazon’s CEO Jeff Bezos, who has held the top spot since 2017.

What is the secret to his success in becoming the richest man in the world?

A few years ago, I talked with Musk about his secret for nearly an hour.

And in commemoration of his new milestone, he decided to organize and share the contents of his interview.

This is the philosophy that is at the heart of Musk’s attitude toward business.

When I interviewed him in 2014, he didn’t even know how rich he was.

“Because I’m not piling up a bunch of cash.”

“There are voting rights of companies such as Tesla, SpaceX, Solar City, etc., and the market only valued those voting rights.”

Musk said life after money was okay if it was “ethical and good way,” but that it didn’t motivate him.

Still, it seems certain that he is surely motivated by something.

Musk, known as the real model of Tony Stark, the protagonist in the movie “Iron Man,” was a whopping 10 trillion won at the time of conversation in 2014.

Now his assets are over 200 trillion won.

Tesla, an electric vehicle company founded by Musk, was particularly good.

Last year, Tesla’s share price rose more than 700%. The corporate value exceeded 650 trillion won.

It’s an asset that will make money for a Ferrari even if you buy Ford, GM, BMW, Volkswagen or Fiat Chrysler.

But Musk, turning 50 this year, said he was unlikely to die as a rich man.

Musk said he was likely to spend most of his fortune on the construction of the Mars base during his lifetime, and that it would not be surprising if all of it was exhausted.

Like Bill Gates, he would think that ending your life with assets in the bank is a failed life where you don’t spend money on the right things.

What Musk believes to be a success can be seen in his plans to build the Mars base.

“You have a heart that wants the future to be better.”

“You want to do new and exciting things that will improve your life.”

Even taking SpaceX as an example.

He founded the private space company SpaceX because NASA’s programs weren’t ambitious enough.

“We are looking forward to migrating humans to Mars beyond Earth. We also set up bases on the Moon. We travel very often over orbit.”

Before this plan became a reality, he conceived the idea of’Mars Oasis Mission’.

It is to install a greenhouse on Mars.

His plan was to excite people and force the US government to increase NASA’s budget.

But soon he realized that the problem was in the “absence of the way, not the absence of will.”

The space program was more expensive than necessary.

So he created the cheapest rocket in the world.

What should be noted here is that his motive was not money, but his willingness to move people to Mars.

Musk told me that he is more like an engineer than an inventor, and that he lives with a mindset to solve technical problems.

For him, the measure of progress is not the bank balance. Musk knows that whenever his business goes through a crisis, everyone who solves the same problem gets permanent help.

That’s why he released Tesla’s electric car patent after I met him.

He said the decision was made to accelerate the development of electric vehicles worldwide.

One of Musk’s amazing business traits is that it is extremely exciting.

He wants to innovate the automotive industry, colonize Mars, build vacuum tunnels for trains, combine the human brain with AI, and upset the solar and battery industries.

These goals have something in common. It is a future scientific fantasy that would appear in Kids Magazine in the 1980s.

Even his vacuum tunnel company name is’The Boring Company’ which means’boring company’.

Musk never hides the fact that he was inspired by the books and movies he saw as a child in South Africa.

This is another business secret for Musk. Do not hesitate right away.

He believes that poor ambition stems from the performance pay structure within the company.

He said that most companies are “progressive”. “The CEOs of big companies are only pursuing not-so-great progress, and it takes longer to achieve results than expected, and even if they don’t perform well, they don’t come back to the CEO’s responsibility. Said.

All you have to do is say it’s the supplier’s fault, not yours.

He argued, on the other hand, that those who are courageous and want to achieve real results are unconditionally fired if they do not perform well when they make bold choices.

Musk argued that this allowed the company to pursue only small developments using existing products and not dare to challenge new products.

He advised society to “work for stuff that will matter” to avoid falling into this swamp.

So what is an example of what he needs to say?

Musk first wants to accelerate the transition from the fossil fuel era.

“We are using deep gas fields and oil fields that have been buried in the ground since the Cambrian era and have not seen light. If the last most complex organism we saw before the fossil fuel was buried deep in the ground was only a sponge, it would be wise to use it. You have to doubt whether it is.”

In addition, he attempts to colonize Mars and migrate mankind to Mars, guaranteeing long-term survival of mankind, and at the same time opening the prelude to the “polyplanetary era”.

As I said, it’s about having big goals.

To do business well, you need to have that courage. However, Musk has been running the business at a much greater risk than most people.

Musk sold his venture Zip2 and PayPal in 2002.

He had just entered his 30s, and over 200 billion won had been deposited into his account balance.

His plan was to save half and spend the other half on business.

But life didn’t go as planned.

When I met him, Musk was having the darkest time of his business life.

His companies were groaning with small problems in their early days.

SpaceX failed all three launches, and Tesla suffered a number of manufacturing, supply and design problems.

And the financial crisis came.

Musk was at the crossroads of cruel choices at the time.

He said he was worried about “saving money and destroying the company, or investing the remaining money to get another chance.”

And he decided to pour all the remaining money into the company.

Musk told me that he had gone so far as to borrow money from his friends to make a living.

Did the bankruptcy crisis scare him?

He said, “Is there any more work for the kids to go to public school (not private school)? It’s no big deal. I went to public school too.”

He was very upset back in 2014.

Because many experts and critics seemed to enjoy his failure.

“The schadenfreude is really amazing.”

“There are still several blog sites that predict Tesla’s failure.”

I thought people were hoping for his failure because of the kind of arrogance behind his ambitions.

But Musk said he wasn’t arrogant, “I’m not saying I’ll do it all the time, I’m just saying that I want to do it, and I want to do my best.”

Here comes his next advice. To ignore the criticism.

When he was founded, he didn’t think SpaceX or Tesla would make as much money as it is now.

At the time, no one thought so.

However, Musk disregarded the pessimists and went steadfast.

This is because the criterion of success was not how much money they made, but how important problems they solved.

Think about how liberating it is. He wasn’t worried about how stupid he would look when he lost money for his investment.

I just focused on putting the important ideas into action.

This makes decisions easier. Because it helps you focus on what’s really important.

The mayor likes him like this.

In October, US investor Morgan Stanley estimated the asset value of SpaceX at around 108 trillion won.

SpaceX has changed the economics of aerospace, but what will make Musk most proud is the fact that his company has reactivated the American aviation program.

This summer, his crew dragon rocket was launched to the International Space Station carrying six astronauts.

It was the first space shuttle to visit a space station in the United States since 2011.

If you follow the guide above and follow a little luck, you will gain tremendous wealth and fame.

From then on, you can break the shell and start appearing in the world.

Musk is a well-known work addict. He also boasted of working 120 hours a week to maintain production of the Tesla Model 3.

But since I met him, he seemed to be enjoying himself.

He has recently been at the center of controversy, including defamation lawsuits and smoking cannabis during radio broadcasts.

In 2018, I wrote on Twitter that Tesla was delisted and secured the necessary funds to turn it into a private company.

In addition, when a manufacturing plant in San Francisco was closed due to a novel coronavirus infection (Corona 19), he also made a fierce opposition to the corona 19 blockade.

He wrote on Twitter about the panic of the virus as “stupid,” and described the self-containment order as “fascist” “forced incarceration” for violating constitutional rights.

It also revealed that it plans to dispose of most of its possessions last summer.

He also gave his recently-born son the same name as the machine number’X Æ A-12 Musk’.

It is unlikely that his unpredictable behavior is affecting his business.

Musk is still as ambitious as always.

Musk said in September that Tesla would launch a “powerful” $25,000 electric car in three years, and soon all Tesla vehicles will be fully autonomous vehicles.

In December, the first high-altitude flight experiment of Starship, SpaceX’s manned spacecraft, which can migrate humans to Mars for the first time, was also conducted.

Starship exploded in the process of landing after a test launch, but Musk congratulated that the experiment was a “satisfactory” success.