There are numerous controversies surrounding the past of the young billionaire. One such revolves around the possessions of Elon’s family. It is known that Musk was born in effluent conditions in South Africa. The nature of the wealth of the Musk family has always been a matter of debate. Although Errol, his millionaire father was involved in multiple professions, he is said to have held shares of an emerald mine. The mine is said to have produced high-quality emeralds. People believe that Elon gained monetary benefit from the emerald business and was hence able to pay off his student loans. It is also a common speculation that some of the early business ventures of the now billionaire were funded by mining money.
While the billionaire Chief Executive of Twitter had previously acknowledged the fact that his family owned an emerald mine in Zambia, he has recently claimed that his is unbeknownst to the existence of the said mine. In a tweet, he also claimed that whoever could prove the existence of the mine would receive a million Dogecoins from the billionaire. Citing this as an easy way to earn a million dogecoins, Musk’s own father was interested in the offer. Errol claimed that Musk was fully aware of the mine’s existence and was trying to get away with it because he did not want to appear like another spoon fed billionaire.
The Emerald mine:
Elon has claimed that he is not aware of the location of any such mine owned by his family. However, Errol, his father has said that he is fully aware of the mine.
There has been some speculation about the role that Elon’s family wealth had in his initial ventures. People wonder if Musk’s generational wealth might have played a significant role in his rise.
It is certainly true that Elon’s father was successful in the mining industry. Errol Musk made a fortune in the emerald mining business. Elon grew up in South Africa, where his father’s success undoubtedly had an impact on his upbringing. However, the billionaire has always downplayed the significance of his family’s wealth in his own success. He has reiterated in several interviews that his own drive and ambition have contributed to his success. He has also criticized his father and once described him as a “terrible role model” citing his multiple marriages and infidelity. He also claimed that he had a traumatizing childhood due to Errol’s abusive nature.
Although, Elon had previously mentioned the mine in interviews, the billionaire has now claimed in a tweet that the mine does not exist. Elon had revealed in an interview in 2014 that his family owned shares of an emerald mine in Zambia. The billionaire said that although he might sound insane but his family had shares of an emerald mine.
In January, Musk’s tweet was met with several responses highlighting the billionaire’s controversial statements. The billionaire had also said a few years back that he left South Africa with just a few dollars and he couldn’t understand how his generational wealth was a factor in his success.
Earlier this month, Musk announced a million dogecoin reward for anyone who could prove the mine existed. In an interview, Elon’s father said that he was wondering if he was eligible for the award because he could prove the mine’s existence. The millionaire father of the billionaire son also claimed that the emerald mine sponsored his son’s living expenses in the United States after he chose to move there. He did, however, give credit to Elon’s hard work and added that the Twitter CEO had worked very hard to be where he is today.