Quote of the day by Elon Musk: ‘Failure is an option here. If things are not failing, you are not innovating enough’

Billionaire entrepreneur Elon Musk is known for leading some of the world's most influential technology companies, including electric vehicle maker Tesla, space exploration firm SpaceX, and social media platform X (formerly Twitter).

Widely known as one of the most powerful figures in the global tech industry, Musk is known for his ambitious vision and bold bets on emerging technologies such as artificial intelligence, space travel, and sustainable energy.

“That may sound like a harsh statement, but I’m guilty of this as well. I’ve had tons of ideas that I thought could change the world, but they’re just that, ideas. There was no guts or actions behind those ideas...maybe they weren’t important enough to me,” he said.

He further believes that if someone tries to validate most of the ideas, then all of them would have come to fruition. “I doubt they would all be successful, but you never know until you try,” he added.

A clear example is Musk's shift in focus from reaching Mars to developing technologies for the Moon. While SpaceX was earlier aiming at reaching Mars, it has extended the timeline to achieve that goal due to some constraints. SpaceX is now advancing lunar missions, using each “failure” as a stepping stone toward more ambitious goals.

“For those unaware, SpaceX has already shifted focus to building a self-growing city on the Moon, as we can potentially achieve that in less than 10 years, whereas Mars would take 20+ years,” Musk wrote on X a while back.

While the complete rollout is planned over 10 years, based on performance milestones, with the tech mogul's wealth so tied to the auto company's stock, his net worth touching the figure seems highly likely.

Elon Musk, who runs Tesla, SpaceX and Neuralink among other companies, became the first person in history to hit the $500 billion personal wealth milestone in October 2025.