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The first company, Zip2, was started with $28k of his dad's money. If he hadn't been given that, he might not have been in a position to sell Zip2 for a massiv
by sjsdaiuasgdia 3y ago
The first company, Zip2, was started with $28k of his dad's money.
If he hadn't been given that, he might not have been in a position to sell Zip2 for a massive profit during the dotcom boom. That sale is what made Elon personally very wealthy.
Where did the $28k come from? How much money did Elon's dad provide for his living expenses, international moves, etc while going through college and the Zip2 startup? Where did that money come from?
- concordDance 3y agoThe $28 was a small portion of a second round of funding (and was a loan). Not really a make or break amount. > How much money did Elon's dad provide for his living expenses, international moves, etc while going through college and the Zip2 startup? The Sun Errol interview answers that. About half of $115k (as he had to split it with his brother).
- ALittleLight 3y agoMusk's father invested 20-30k in Zip2 out of a 200k angel investment. That doesn't seem like a huge deal to me. For context, Musk dropped out of a grad program at Stanford to pursue Zip2. How many Stanford graduate students could raise 30k from their parents for a business venture? As for where the money came from, I believe Musk's father owned an engineering business. Or maybe it was profits from a share in an emerald mine - what does that matter though?