Elon Musk, the entrepreneur behind Tesla Inc and SpaceX took the internet by storm when he became the world's richest person beating Amazon founder Jeff Bezos on the Bloomberg Billionaires Index, a ranking of the world's 500 wealthiest people. A 4.8 percent rally in the electric carmaker's share price proved to be a game changer for Musk.Here are his tips for success
"As much as possible, avoid hiring MBAs. MBA programmes don't teach people how to create companies."
"Persistence is very important. You should not give up unless you are forced to give up."
"People work better when they know what the goal is and why. It is important that people look forward to coming to work in the morning and enjoy working."
"I always invest my own money in the companies that I create. I don't believe in the whole thing of just using other people's money. "
"Really pay attention to negative feedback and solicit it, particularly from friends. ... Hardly anyone does that, and it's incredibly helpful."
"People should pursue what they're passionate about. That will make them happier than pretty much anything else."
"You shouldn't do things differently just because they're different. They need to be... better."
"You have to say, 'Well, why did it succeed where others did not?'"
"It's very important to like the people you work with, otherwise life and your job is going to be quite miserable."