“I want to go make that happen” was twenty-one-year-old Elon Musk’s thought in 1992 on California mandating a 10% market share by 2003 for Electric Vehicles (EVs). Or rejecting a job building videogames, which he loved, because “I wanted to have more impact.” As a young man he wanted to colonize Mars to ensure human consciousness could outlive Earth and prepare for the end of fossil fuels with EVs. He’s always been a big thinker.

This becomes clear early in Walter Isaacson’s biography of Elon Musk, a gripping story that draws you to read just one more chapter (there are 95) each time you sit down with it. Those around Musk learn to live with his (self-diagnosed) Asperger’s, which makes him a harsh critic with no empathy for others. He tells those opting to remain at Twitter after three rounds of layoffs to be prepared to work “long hours at high intensity.”

Musk lives that way himself, apparently sleeping little and rarely vacationing, powering through days of problem solving with Red Bull. Somehow, he runs multiple companies that each could justify their own CEO. He demands impossible deadlines. He demands simplification in production lines and product design (“delete, delete, delete”), ignoring the warnings of engineers that his goals are impossible. Mostly, teams of employees rise to accomplish what they thought was out of reach. Sometimes they don’t, and occasionally Musk revises his opinion with new information. He instills a culture of extreme urgency, preaching that the future of humanity is at stake.

Musk embraces risk, and crises. Like many overachievers he’s never content. He’s highly analytical, yet his mood swings can trigger sharp pivots. He runs through key employees at a dizzying pace. Some burn out on the job’s demands and Musk’s mercurial temperament. Others are fired when he deems them no longer at peak productivity. There are very few who have remained, and at times he turns to close family members who are the only people he trusts. Many find it exhilarating to be around someone who is changing the world, accepting the lost family time and unpredictability as worth it.

A physically violent childhood in South Africa made Musk a fighter. His father routinely berated and belittled him. He was rarely happy and never content. He credits videogames, which he plays obsessively for a diversion during a crisis, with teaching him strategies that work in business.

An unconventional family life is part of Musk’s story. At one point he decides not to own a home, regarding possessions as unseemly for a billionaire changing the world. He enjoys good relations with nine of his ten surviving children as well as their mothers. One son transitioned to a daughter and rejects him, a source of great sadness. Odd names (one toddler is simply “X”) should surprise no-one. X is often with Musk, and learned to count backwards from ten by watching SpaceX rocket launches before he could count forward.

The acquisition of Twitter combined Musk’s restlessness and risk appetite in an impulsive gamble. As usual he threw himself into endless long days of crisis management while slashing employment by over three quarters. He slept on a couch in a conference room. Twitter the service still operates – whether it will be a financial success is less clear.

You can understand why people bet against him. Even Bill Gates shorted Tesla because he calculated there would be a surplus of EVs. His losses apparently reached $1.5BN. It’s unclear how this ultimately played out but it caused Musk to sour on Gates. “Why make money on the failure of a sustainable energy car company?” he asked.

Yet Musk routinely faces down one looming catastrophe after another. He pushes himself and others to the brink of failure, but so far has won every time. Isaacson adds up the value of the four companies Musk had founded and financed by April 2022 – Tesla ($1TN), SpaceX ($100BN), The Boring Company ($5.6BN) and Neuralink ($1BN).

Isaacson’s book presents a compelling portrait of a consequential and complex figure. Musk granted unfettered access for two years, providing rich material that is never dull. Watching Musk from afar is to see an impending train crash repeatedly averted. Somehow the world’s richest man got that way while focused on bigger goals. We should want Musk to continue pulling off miraculous victories because the changes will likely be positive.

Bill Gates said, “There is no one in our time who has done more to push the bounds of science and innovation than he has.”

There are still many more chapters in the story of Elon Musk.

Important Disclosures

The information provided is for informational purposes only and investors should determine for themselves whether a particular service, security or product is suitable for their investment needs. The information contained herein is not complete, may not be current, is subject to change, and is subject to, and qualified in its entirety by, the more complete disclosures, risk factors and other terms that are contained in the disclosure, prospectus, and offering. Certain information herein has been obtained from third party sources and, although believed to be reliable, has not been independently verified and its accuracy or completeness cannot be guaranteed. No representation is made with respect to the accuracy,  completeness or timeliness of this information. Nothing provided on this site constitutes tax advice. Individuals should seek the advice of their own tax advisor for specific information regarding tax consequences of investments.  Investments in securities entail risk and are not suitable for all investors. This site is not a recommendation nor an offer to sell (or solicitation of an offer to buy) securities in the United States or in any other jurisdiction.

References to indexes and benchmarks are hypothetical illustrations of aggregate returns and do not reflect the performance of any actual investment. Investors cannot invest in an index and do not reflect the deduction of the advisor’s fees or other trading expenses. There can be no assurance that current investments will be profitable. Actual realized returns will depend on, among other factors, the value of assets and market conditions at the time of disposition, any related transaction costs, and the timing of the purchase. Indexes and benchmarks may not directly correlate or only partially relate to portfolios managed by SL Advisors as they have different underlying investments and may use different strategies or have different objectives than portfolios managed by SL Advisors (e.g. The Alerian index is a group MLP securities in the oil and gas industries. Portfolios may not include the same investments that are included in the Alerian Index. The S & P Index does not directly relate to investment strategies managed by SL Advisers.)

This site may contain forward-looking statements relating to the objectives, opportunities, and the future performance of the U.S. market generally. Forward-looking statements may be identified by the use of such words as; “believe,” “expect,” “anticipate,” “should,” “planned,” “estimated,” “potential” and other similar terms. Examples of forward-looking statements include, but are not limited to, estimates with respect to financial condition, results of operations, and success or lack of success of any particular investment strategy. All are subject to various factors, including, but not limited to general and local economic conditions, changing levels of competition within certain industries and markets, changes in interest rates, changes in legislation or regulation, and other economic, competitive, governmental, regulatory and technological factors affecting a portfolio’s operations that could cause actual results to differ materially from projected results. Such statements are forward-looking in nature and involves a number of known and unknown risks, uncertainties and other factors, and accordingly, actual results may differ materially from those reflected or contemplated in such forward-looking statements. Prospective investors are cautioned not to place undue reliance on any forward-looking statements or examples. None of SL Advisors LLC or any of its affiliates or principals nor any other individual or entity assumes any obligation to update any forward-looking statements as a result of new information, subsequent events or any other circumstances. All statements made herein speak only as of the date that they were made. r

Certain hyperlinks or referenced websites on the Site, if any, are for your convenience and forward you to third parties’ websites, which generally are recognized by their top level domain name. Any descriptions of, references to, or links to other products, publications or services does not constitute an endorsement, authorization, sponsorship by or affiliation with SL Advisors LLC with respect to any linked site or its sponsor, unless expressly stated by SL Advisors LLC. Any such information, products or sites have not necessarily been reviewed by SL Advisors LLC and are provided or maintained by third parties over whom SL Advisors LLC exercise no control. SL Advisors LLC expressly disclaim any responsibility for the content, the accuracy of the information, and/or quality of products or services provided by or advertised on these third-party sites.

All investment strategies have the potential for profit or loss. Different types of investments involve varying degrees of risk, and there can be no assurance that any specific investment will be suitable or profitable for a client’s investment portfolio.

Past performance of the American Energy Independence Index is not indicative of future returns.