How Elon Musk made his money - from emeralds to SpaceX and Tesla Address: Riverbank House, 1 Putney Bridge Approach, London, SW6 4TJ. At the conference, Elon talked to some professors who told Errol, This boy needs to get his hands on one of these computers. Not all the tweets were supportive of Elon. A common story about Musk on social media is that his father owned part of an emerald mine, providing a bedrock of wealth that buoyed Elon up to his current level of success. He didnt own an emerald mine, and I worked my way through college, ending up [around] $100,000 in student debt, Elon tweeted. All the kids know about it. How A Rumor About Elon Musk's Family Emerald Mine Fortune Took A Life Click Here to Get Smart on Protecting Your Family and Loves Ones, No Matter What Happens. Theyre the same, except for the fact that he is a billionaire, started multiple successful companies and doesnt live in his mothers basement. It's not true. It was that lifestyle, Errol says, that turned Elon into the kind of merchant adventurer who would laterbreak the rules of the motoring businesswith Tesla, then go on tochange spaceflight with SpaceX, BI reported. Elon Musk's dad Errol says he can 'prove' existence of emerald mine in luis carruthers @orthereaboot tweeted, When the same pattern of racist behavior happens at all $tsla locations, its the company thats racist, and the fish rots from @elonmusks head.. 26 Apr 2023 04:24:57 It was kind of weird for them to walk into Tiffanys. Not to mention the fact that the claim clashes with the image of Musk being a self-made billionaire, a titan of industry who seeks to transcend humanity into a space-faring civilization; that narrative rings a little hollow when one thinks of Musk as some trust fund baby. In a 2014 interview with Forbes, Musk said his father had a share in an emerald mine in Zambia. One thing most of us can agree on is that there is a more nuanced conversation to be had about how Musk specifically and South Africas white population in general, even those who didnt own mines benefitted from apartheid. Several respondents on social media disputed the emerald mine and privileged-lifestyle story, defending Musks intelligence and questioning the intelligence of the person who started the thread. Elon Musk's father, Errol Musk, remains a mysterious figure, and there is still no common consensus how his work or his wealth during Elon's childhood. But when the bottom dropped out of the emerald business due to the emergence of a cheaper lab-made version of the gemstone, Errol had to sell assets to keep cash flowing to his sons. Among those many mine mentions is the infamous anecdote from another Insider piece in 2018 about Elon and his brother Kimbal pocketing some of their father's emeralds before walking around New York City with the gems in their pockets,where they sold them to Tiffany & Co. for a couple thousand dollars. But reporting over the years does seem to corroborate that the mine existed, contrary to Musk's latest claims. As with other outlandish Muskian claims, there is, of course, another possibility: that he (or his father) completely or partially made it up for clout, and Elon is now backtracking because the concept of a white South African co-owning an emerald mine has the stench of apartheid regardless of the specifics. Shame on you, Onion. 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I said to him, You're not very happy, Elon, are you? He said, No.. His mother Maye worked as a model and dietitian and his father Errol worked many jobs including as an engineer and property developer. It helped them with rent and food. And third, Musk might feel like false narratives, like the one about his family owning an emerald mine, could hinder others from helping humanity because of the public life they may need to lead. Tesla co-founder and CEO Elon Musk stands in front of the shattered windows of the newly unveiled [+] all-electric battery-powered Tesla's Cybertruck. The emeralds helped us through a very trying time in South Africa, when people were fleeing the country in droves, including his mother's whole family, and earning opportunities were at an all-time low. +(91)-9821210096 | paula deen meatloaf with brown gravy. Elon Musk, the CEO of Tesla, grew up in South Africa and made his way via Canada to the U.S. as a transfer student before attending the Wharton School and becoming the billionaire tech founder he is today. And we spent three weeks making our rent-controlled apartment livable in Toronto, Maye tweeted. There were AK-47s all over the place and Im thinking, Man, this could really go bad.. It didn't seem like he knew who she was, though. Also, even though Elon claimed the stuff about the emerald mine started in 2018, this New Yorker article from 2009 states that his father owned an Emerald Mine, long before the business insider article did. "This is going to sound slightly crazy," the multi-hyphenate billionaire is quoted as saying, "but my father also had a share in an Emerald mine in Zambia.". Snopes and the Snopes.com logo are registered service marks of Snopes.com, Image Via CARINA JOHANSEN/NTB/AFP via Getty Images. Other companies started by Musk include Neuralink, which is working on developing implantable brainmachine interfaces. WhatsApp 060 011 021 1. Hes the son of Maye Musk, a model and dietitian from Canada, and Errol Musk, a South African electromechanical engineer, pilot, and sailor. The share in the mine wasnt acquired until the 1980s. "Elon knows it's true. According to a 2017 Rolling Stone profile, Elon once said his father "has a genius-level IQ". Errol says he then had to send the cash via an Israeli broker because of strict exchange control regulations. Errol Musk Archives | Snopes.com There are no signed agreements or financial statements," he explained. If we believe Musk's words from 2014, it is baffling to see him offering a million Dogecoin to anyone who can prove its existence. In other words, according to the senior Musk, it sounds a lot like Elon's entire road to wealth and fame beyond South Africa was paved with Zambian emeralds. Errol went as far as to say that emerald money paid for his son's move to the US, where Elon would go on to attend the University of Pennsylvania's Wharton Business School on scholarship with, apparently, emerald-generated cash in his pocket for living expenses. A Twitter user claimed in December 2019 that Elon Musk's "privileged upbringing" included his father, Errol Musk, "who owned an emerald mine [and] who could bankroll his education.". Elon Musk's Dad Disputes His Son's Claim About Emerald Mine With $40B, Could Musk Have Given $1M to Every Person in - Snopes.com Smart Policies are as low as $30 a month, No Medical Exam Required Former Tesla employees have reported racist behavior and attempted to sue over it. But those are ancillary to the real story about how to navigate mainstream . Landing at an airstrip near Zambias northern borders with Tanzania and what is now the Democratic Republic of the Congo, he met and befriended the Italian owner of the airstrip. He unsuccessfully tried to cash in on his share in a game farm, so was forced to his ocean-going yacht for R100,000 (then around $29,000), a quarter of its value. Like where exactly is this thing anyway!?. Meet Elon Musk's lesser-known millionaire siblings - Yahoo! What's the story about the Musk family's emerald mine? Elon's father Musk trabalhou como piloto, marinheiro, engenheiro eltrico, engenheiro mecnico . In a 2017 Rolling Stone cover story, the Tesla CEO described his childhood and revealed that he moved in with his father at eight years old after his parents split. When Elon Musk was a child in South Africa in the 1980s, his father at some point owned "a stake in an emerald mine" near Lake Tanganyika in Zambia, newspaper archives show. Musk reacted in character, telling off the publication and stating that readers are shifting to fellow satirical news site The Babylon Bee. Or maybe, he does not want it to look like the emeralds played any role in his success. The Onion, a satirical publication, shared an article on Twitter titled The Richest Person In Every State And How They Made Their Money. In the tweet, The Onion stated that the wealthiest person in Texas was Elon Musk, who made his money through apartheid. His father, Errol Musk, is an electromechanical engineer and property developer who was once a half owner of a Zambian emerald mine. @Keewa tweeted on May 9, 2020, Remind: Elon Musk inherited money from his fathers apartheid emerald mine, that doesnt mean hes clever. So, we had this planeload of contraband and an overdue passport from another person. This material may not be reproduced without permission. But in an exclusive interview with The U.S. Sun, Errol claimed it was his emerald venture which helped pave the way for Elon to become a wildly successful captain of industry in the U.S. Elon Musk has offered a million doge bounty for anyone who can front up evidence that he or his family has ever owned an emerald mine. Image via Instagram @mayemusk. I said, Oh, all right. Did Elon Musk Buy Google? | Snopes.com Or maybe, he does not want it to look like the emeralds played any role in his success. He knew I was selling them.. The 76-year-old is most notable for being . The duo reportedly was spotted at the football final between Argentina and France. Nov 17, 2022 A story about Musk's father once owning an emerald mine evolved into a larger rumor that had no . Elon Musk: The Truth About His Dad and Emerald Mines Tiffany's later set the $800 emerald into a ring and sold it for $24,000. Errol can only say for sure that the deposit was about 40 miles from where he had landed his Cessna in Kasaba Bay, which is now a tourist hub. In the interview, Musk's father explained that he bought his share of the emerald mine after selling a plane to a group of Italians. Musk, who is never shy of saying his say online, took to Twitter to show his disappointment with The Onion and took the opportunity to shout-out the publications competition, The Babylon Bee. The workers would bring them in for shipment to Errol in what the retired electromechanical engineer described as an under the table operation. However, $800 was probably pocket change for the family, judging by what Musk's father told the site. He attended Queens University in Canada. According to fact-checking website Snopes, Elon said in a since-deleted interview with Forbes in July 2014: "This is going to sound slightly crazy, but my father also had a share in an Emerald . Since at least 2018, a rumor has circulated about Elon Musk in regard to his father's purported past ownership of an "apartheid emerald mine" or "slave emerald mine." We analyzed newspaper archives and other evidence to piece together facts. 2. Worked on my Moms cousins farm in Saskatchewan & a lumber mill in Vancouver. Thats a small change for Musk, who has a net worth of about US$185 billion, according to the Forbes real-time billionaire list, mostly through his shares in Tesla and SpaceX. It was a rock formation protruding from the ground in the middle of nowhere.". Errol made money by consulting and developing properties, Forbes reported. This is why people are switching to @TheBabylonBee! Musk wrote. "There was no mining company. When the same pattern of racist behavior happens at all $tsla locations, its the company thats racist, and the fish rots from @elonmusk s head.https://t.co/aKAP7vrT6G https://t.co/EMN9xQH06V. snopes.com @snopes Since at least 2018, a rumor has circulated about Elon Musk in regard to his father's purported past ownership of an "apartheid emerald mine" or "slave emerald mine." We analyzed newspaper archives and other evidence to piece together facts. "The fake emerald mine thing is so annoying (sigh)," Musk tweeted over the weekend. He didnt own an emerald mine & I worked my way through college, ending up ~$100k in student debt. Listen to GHOGH with Jamarlin Martin | Episode 74: Jamarlin Martin Jamarlin returns for a new season of the GHOGH podcast to discuss Bitcoin, bubbles, and Biden. Errol said: During that time, I managed to send money Id made from emerald sales to him and Kimbal for living expenses.. He recently offered a million Dogecoin to whoever can prove the existence of this mine. Elon Musk's Dad Says His Son's Whole Career Was Funded by That Emerald Mine. While there are a few variations now, the common features go something like: Errol Musk owns/owned an emerald mine in Africa. 2023 NYP Holdings, Inc. All Rights Reserved. BROWN / AFP) (Photo by FREDERIC J. BROWN/AFP via Getty Images), Russian Artist Natalya Nesterova Gains Overdue Acclaim With New York Exhibition, Sunday Conversation: Ann Margret On Her New Album, Being Wild, Pete Townshend And Motorcycles, Viral Art Collective TeamLab Have Transformed A Tokyo Forest With Thousands Of Fluorescent Sculptures, Wendy Red Star Takes Columbus Museum Of Art Visitors To The Apsalooke Reservation, Isaac Julien At Tate Is A Gorgeous Exhibition, Sonic Tapestries That Are Politically Charged, 4th Annual Asian Comedy Fest Comes To New York This May, Super Mario Bros. Movie Tops $1 Billion Box Office In Fourth Weekend, Saturday Conversation: Herbie Hancock On International Jazz Day, What Jazz Means To Him, AI And More. By rejecting non-essential cookies, Reddit may still use certain cookies to ensure the proper functionality of our platform. Errol Musk did not stop there. I arrived by myself in Canada in 89 with ~CA$2500 Paid my own way through college, ending with ~$100k student debt Started 1st company with no funding & just one computer I built Theres no evidence whatsoever of an emerald mine, 2/2My father & his extended family have been dependent on financial support from my brother & me for over 20 years. snopes.com What We Know About Elon Musk and the Emerald Mine Rumor Below is a collection of our key fact checks related to Musk's background, his acquisition of Twitter, and more. Recently, Elon Musk had to set the record straight on a narrative spun over three years ago about his family owning an emerald mine in South Africa. There is a more nuanced conversation to be had about how Elon Musk specifically and South Africas white population in general benefitted from apartheid. 1995 - 2023 by Snopes Media Group Inc. Considering the high-scale impact that tech has on the world (good and bad), we should want our best candidates to bring their best, secure in the knowledge that they dont need the privilege to apply and that what they build wont be attacked without cause, Arnold wrote.
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