Top Investing Advice from Space Tech Pioneer Elon Musk

Elon Reeve Musk, commonly known as Elon Musk is one of the greatest tech pioneers today. He is an engineer, technology entrepreneur, industrial designer and philanthropist. He is not only the founder and CEO, but also the chief engineer and designer of SpaceX. Elonis one of the early investors and is the CEO and product architect of Tesla. He is also the founder of The Boring Company and the co-founder of Neuralink. You must think this is too much for a man to Handle, right? But Elon Musk feels differently. He is also the founder and the initial co-founder of OpenAI.

In 2016, Forbes listed him as the 21st of the World’s Most Powerful People. In 2018, he was elected as a Fellow of the Royal Society (FRS). In 2019, Forbes listed him as one of the Most Innovative Leaders. According to Forbes, as of July 2020, Elon Musk has a Net worth of $46.3 billion. In July 2020, he was listed as the 7th richest person in the world and is the CEO with the longest tenure in the automotive Manufacturing Industry in the world.

About Elon Musk

His goal in life is to revolutionise transportation not only on Earth but also in space. Elon Musk was a bright student. At just 12 years of age, Musk taught himself computer programming and created a video, which he called Blaster. He sold it for $500. He studied Physics and Economics from Wharton School and move to Stanford in order to pursue a PhD. However, within just two days of starting off, he dropped out to start an internet-based company called Zip2.

He invested $28,000 that he borrowed and in 1999, Musk sold the company for $307 million. Zip2 provided online newspapers with maps and business directories. He became a millionaire at the age of 28 by earning $22 million from the deal. In the same year, he co-founded X.com which became PayPal eventually. eBay acquired this for $1.5 billion in stock out of which Musk received $165 million.

Musk also co-founded Tesla motors. Tesla Model S got the highest rating ever given to an automobile. The National Highway Safety Administration awarded the model 5.4/5 stars for safety. When Elon Musk started Space X, investors saw the vision and the dream of the company as unrealistic. However, Musk believed in his dream and invested a huge amount of money into the company. Today SpaceX has a $1.6 billion contract with NASA to resupply the International Space Station. With Elon Musk’ innovative efforts and hard work, the cost of reaching the International Space Station has been brought down by 90%.

He brought it from $1 billion per mission to just $60 million. SpaceX is the first-ever commercial company to recover a spacecraft from Earth orbit successfully. Dragon spacecraft from SpaceX is the first commercial vehicle to be attached to the International Space Station. Believe it or not, Elon Musk aspires to colonise Mars and make it a realistic goal for mankind along with making his rocket ‘Falcon’ a vehicle for space tourism. He envisions to make science fiction and living reality.

Top 4 Investing Advice from Elon Musk

1. Invest in Utility Companies

Elon Musk has been a strong supporter of utility providing companies. Though his ideas for the future include people getting clean energy from different methods, he desires to make progress by working with utility companies. Pooling resources in the process and working with companies instead of against them is one of the strongest beliefs he holds. He says that society will still need utility companies for the prosperity of a new world with low-carbon power, etc.

2. Diversify Investments

Elon Musk believes Investing in companies that have a promising future. And, more than that he believes in creating a promising future. Musk is involved in various companies while handling Tesla and SpaceX. His company OpenAI deals with artificial intelligence that seeks to do good things for the society with the help of AI. One of his other investments Neuralink is involved in discovering ways for humans to use an AI-based interface to communicate through telepathy.

Well, this is how well diversified Musk’s folio looks. Diversifying investments helps avoid risk from a single asset. This way, even if one asset in the folio fails to perform, other assets will balance the return. Diversification yields great returns in the long-return along with maintaining the financial security of the investor. So to be a successful investor, it is important to identify great business and diversify your investment.

3. Don’t Give in to Negativity

Elon Musk has never allowed himself to be prey to negativity. Despite negative reactions for his large investments and innovation in the field of futuristic technology and Energy Sector, he maintains a strong Portfolio with successful investments. He believes that giving in to negativity is only going to deter you from achieving what you believe is successful.

4. Invest for Public Good

When a hurricane hit the city of Puerto Ricco, Elon Musk restored power to a hospital. His help to the hospital and public, in general, was widely applauded. His energy investments in a place like Puerto Rico could be one of the best examples of having a successful investment and helping the local people. He believes it is important to work with local officials when it comes to investing in the public good.

Conclusion

If there is one thing you can take away from Elon Musk, it would be his determination and unwavering belief in his dreams. He believes in constant innovation and hard work even when it comes to investments. Diversifying investments is a sure way to get success when it comes to investments.