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He began a Ph D in applied physics and material sciences at Stanford University in 1995 but dropped out after two days to pursue an entrepreneurial career.He subsequently co-founded Zip2, a web software company, which was acquired by Compaq for 0 million in 1999.He moved to Canada when he was 17 to attend Queen's University.He transferred to the University of Pennsylvania two years later, where he received an economics degree from the Wharton School and a degree in physics from the College of Arts and Sciences.Musk is chief executive officer (CEO) and chief technology officer (CTO) of the Hawthorne, California-based company.Space X develops and manufactures space launch vehicles with a focus on advancing the state of rocket technology.
It was concluded that theoretically, by applying vertical integration and the modular approach from software engineering, Space X could cut launch price by a factor of ten and still enjoy a 70-percent gross margin.The group met again with Kosmotras, and were offered one rocket for ; however, this was seen by Musk as too expensive; Musk consequently stormed out of the meeting.On the flight back from Moscow, Musk realized that he could start a company that could build the affordable rockets he needed.In December 2016, he was ranked 21st on the Forbes list of The World's Most Powerful People.Born in Pretoria, Musk taught himself computer programming at the age of 12.
In 1995, at age 24, Musk moved to California to begin a Ph D in applied physics and materials science at Stanford University, but left the program after two days to pursue his entrepreneurial aspirations in the areas of the internet, renewable energy and outer space. The merged company focused on the Pay Pal service and was renamed Pay Pal in 2001.