Elon Musk had over $100K of student debt when he started 1st company, turned his room into nightclub to pay rent (2023)

Through the years, Elon Musk gained huge popularity in the media and online. There are also several reports suggesting that the billionaire was actually born into a wealthy family and his father owned an emerald mine.

But how far are these reports really true? In recent tweets, Musk has revealed some fresh information that refute these speculations.

In a series of tweets, the 50-year-old Tesla boss revealed that when he started his first company, Zip2, in 1995, he had over $100,000 of student debt to pay off. He also did not own a branded computer and was instead using the one he built for himself.

Musk also only had a few thousand dollars when he kick started his first company.

The SpaceX boss was replying to a Twitter user on the microblogging site who had slammed people for taking away Musk's hardwork by saying that he already came from a well-off family.


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"If being born to a well-off family is why @ElonMusk succeeded extravagantly in life then explain to me why all these rich kids go to art school, never get a job, and waste away," the user wrote on Twitter.

Replying to the tweet, the soon-to-be Twitter boss said that kids with lots of money usually have less motivation.

"Yeah, kids starting with lots of money usually have much less motivation than those who have nothing.

When we started our first company (Zip2) in 95, I had over $100k of student debt, a computer I built myself and a few thousand dollars," Musk said.

@daelmor Yeah, kids starting with lots of money usually have much less motivation than those who have nothing. Wh… https://t.co/mhGRIsWm3N

— Elon Musk (@elonmusk) 1651593028000
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Then Musk's Indian friend on Twitter, Pranay Pathole, joined the conversation as well. Pathole mentioned how Musk did not even have a place to stay when he started his company Zip2 and used to shower at YMCA.

"And here people spread lies about you already belonging to a wealthy family & that your dad owned an emerald mine. While starting Zip2 you guys didn't have a place to stay & had to shower at YMCA. Also while in college didn't u guys turn ur room in a nightclub to afford rent?" he said, to which Musk mentioned that in order to pay rent, they'd turn their house into a nightclub and charge $5 from people.

Talk about humble beginnings!

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