Elon Musk Zip2 Sale
He wanted to realize the full potential of the internet but all he did was make himself rich.
Elon musk zip2 sale. The company staff lived on premises to cut down on costs. For most people that would be the high point of a lifetime but musk looks back on the experience with frustration and disappointment. Elons share of the sale was the pretty tidy sum of 22 million.
Musk didnt waste the 22 million he got from zip2s sale on expensive cars and luxurious mansions. Zip2 the serial entrepreneurs first venture sold for 307 million in 1999 earning musk 22 million for his 7 share of the company when he was only 27 years old. The company was purchased to enhance compaqs altavista web search engine.
Self made billionaire elon musk and his brother kimbal couldnt afford an apartment when they founded web software company zip2 in 1995. Anyway zip2 eventually received some much needed investment in 1996 but incredibly elon musk was ousted as the ceo of the company and given a much smaller role. In february 1999 compaq computer paid us305 million to acquire zip2.
Later musk wrote the code for a mapping project which essentially enabled him to combine the two ideas. The tech billionaire now has seven properties for sale for a combined 137 million.