Hire the very best, but fire when necessary
Elon Musk is recognized for hiring the finest, but he is also known for firing non-cooperative employees. He hires the brightest and most creative individuals who are not just skilled but also very good at what they do.
“Work like hell. I mean, you just have to put in 80 to 100 hours every week. This raises the likelihood of success. If other people are putting in 40 hour work weeks and you’re putting in 100 hour work weeks, then even if you’re doing the same thing, you know that you will achieve in 4 months what it takes them a year to achieve.” – Elon Musk.
As an entrepreneur, you are to put your all into growing your business. That is why it is crucial to only start a business you’re passionate about.
If you read up to this point, congratulations! You have a bonus right here.
Elon Musk could one day surpass 1 trillion in wealth, and not thanks to Tesla
The numbers are astronomical. While Elon Musk is already the richest person in the world, with an estimated fortune of $241 billion, or about €207 billion, he could go one step further. According to analysts at Morgan Stanley, reported by The Guardian on Wednesday 20 October, the whimsical businessman could become the first individual to see his fortune exceed $1 trillion thanks to his space exploration company SpaceX.
Deuxième plus grande société privée au monde
The analyst explains that the Starship reusable rockets developed by SpaceX, which can carry people and goods to the Moon or Mars, have the potential to revolutionize investors’ expectations in the space sector. “As one client put it, talking about Starship is like talking about the Internet before Google.
Thus, the space exploration company could be worth 200 billion dollars, about 172 billion euros, says The Guardian. A value that could increase in the coming years, as the company operates a range of potential products, such as space infrastructure, Earth observation or deep space exploration.
Earlier this month, SpaceX was valued at $100 billion, making it the second largest private company in the world, behind ByteDance. Already passed Amazon founder Jeff Bezos in the ranking of the world’s richest people, space could thus allow Elon Musk to reach new records.