Musk dismisses rumors: My dad’s not mine, I owe $100,000 in school loans

Elon Musk, chief executive of SpaceX, the US space exploration technology company, and Tesla, the electric car maker, recently dismissed rumors that his father owned the Emerald Mine in a recent tweet about his education and backstory, saying he had completely worked and loaned out to university,media reported.

Musk dismisses rumors: My dad's not mine, I owe $100,000 in school loans

Earlier, several Twitter users claimed that Musk’s father had sold a plane to several Italian investors in Dijibouti and used the money to buy half of a “jade mine” that supported Musk’s “privileged education.” In response, Musk argued that this was not true and revealed his debt-laden life over the years.

Musk tweeted: “It’s a pretty terrible lie, my father didn’t have a jade mine at all, I went to college by working and ended up owing about $100,000 in student loan debt.” I couldn’t even afford a second computer when I started Zip2, a platform that helps traditional media post content and information on the Internet. So, I can only program at night with a computer and support website situating during the day. I don’t know where the rumors came from. “

Musk continued: “When I was 17, I left South Africa alone with only a backpack and a suitcase full of books. I work on my mother’s cousin’s farm in Saskatchewan, Canada, a timber mill. With scholarships and some debt, I went to Queen’s University and then went the same way to the University of Pennsylvania at Wharton and Stanford. “

Biographer Ashlee Vance writes in Elon Musk: Tesla, SpaceX and the Pursuit of a Better Future. Shortly after Musk left Canada, his mother, Mayer, moved to Canada with Musk’s brother, Kimbal, and sister Tosca. Mayer was born in Canada and has citizenship, so Musk’s three siblings also have Canadian citizenship.

By the time Musk was very young, his parents had divorced. His father, Errol, an engineer, married Meyer when he was 22, and Soonafter Musk was born. Errol and Meyer divorced about nine years later. Elon Musk: Tesla, SpaceX and the Pursuit of a Better Future describes That Errol owns one of the largest houses in Pretoria, South Africa, and has traveled abroad with his children. Musk and Kimball have lived with Errol for some time, but their relationship is complicated.

Musk attended Queen’s University in Ontario, Canada, in 1989. In 1992, after receiving a scholarship, he transferred to the University of Pennsylvania and graduated in 1997. Since then, he has started his first start-up, The Urban Guide Software Company called Zip2.

Musk tweeted about Zip2 financing, saying: “We co-founded Zip2, I provided about $2,000 plus my own computer, Kimbar provided about $5,000, and Greg Kouri provided about $8,000. A long time later, my father provided 10 percent of the roughly $200,000 in angel financing, but by then the risk had been reduced a lot. In any case, this round of financing will happen. “

In 1999, Musk sold Zip2 to Compaq for about $300 million and used the money to create the online financial services platform X.com. In 2000, the platform merged with Confinity and later became PayPal. In 2002, eBay bought PayPal for $1.5 billion.

In addition to Musk’s clarification, Mayer responded to the claims via Twitter, supporting Musk’s rebuttal. She said the family had to go to a fast-food restaurant on Thanksgiving because they couldn’t afford a turkey. “It took us three weeks (to clean) and make our rented apartment in Toronto fit for our living. “

Mr Meyer added: “During the holidays, we lived in the 4000 block of Yongji Street. My nephew reminded me that he, Musk and Kimball took turns sleeping on beds, sofas and carpets. A friend said our apartment was too small. But I don’t think so, we had a good time. “

In the past, Mayer has also spoken about the suffering she faces as a single mother. “We can’t afford to eat out,” she said in a 2015 interview. I have a client who is a butcher and he gives me roast beef once a month. I’ll cut it into four pieces, freeze three pieces and cook one so we can eat meat once a week. “

As Mayer recalls in 2018, she had to work five jobs at one point to make ends meet, including modelling.

Musk founded SpaceX in 2002 and then helped found Tesla in 2003. In 2016, he founded Neuralink, a brain-machine interface company, and the next year he founded the tunneling company The Boring Company. Musk’s net worth is now $26.5 billion, according to Forbes.

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