![]() – SpaceX is also creating its Starlink network, designed to give every citizen access to fast and affordable internet. These goods include ISS supplies, infrastructure, and people and satellites for various purposes. ![]() – SpaceX makes money by charging governmental and commercial customers to send goods into space. SpaceX – SpaceX is a space transportation service and manufacturer of space rockets and other transport vehicles. Indeed, Musk is a notorious workaholic who prefers to reinvest capital into his businesses over lavish vacations. He is also a proponent of the spend-money-to-make-money philosophy. ![]() As of 2020, PayPal generated over $21.5 billion in net revenues with a 25% operating margin. Thus, the revenue streams are divided into transaction revenues based on the volume of activity or total payments volume. And value-added services, such as interest and fees earned on loans and interest receivable. PayPal makes money primarily by processing customer transactions on the Payments Platform and other value-added services. When eBay acquired PayPal for $1.5 billion in 2002, Musk received $180 million, which he would later reinvest into some of his most famous passion projects. In 2001, the company became PayPal and Musk became an 11.7% shareholder. In 1999 he founded X.com, one of the first FDIC-insured online banks in the world.Īfter seeing promise in its easy payment service, Musk merged his company with Confinity the following year. Musk has invested mainly in ideas he is passionate about, with the viability of an idea being a secondary concern to pursuing it.Īs a child, he had a passion for code, selling the source code for his first video game for $500 at age 12. Perhaps counterintuitively, billionaire entrepreneur Elon Musk owes much of his financial success to not focusing on making money. ![]() Digital Business Models Podcast by FourWeekMBA.Business Strategy Book Bundle By FourWeekMBA.An Entire MBA In Four Weeks By FourWeekMBA.100+ Business Models Book By FourWeekMBA. ![]()
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