Just three years after arriving in Silicon Valley, Elon Musk sold his first company for $400 Million cash. This video shows a young Elon Musk in an oversized jacket. After this video Elon Musk went on to launch PayPal, Tesla Motors, and SpaceX.
After selling his first company, Elon congratulated himself by spending $1 Million on a brand new 1998 McLaren F1. It was the fastest car in the world at the time.
After he bought it, Elon totaled the uninsured McLaren F1.
The McLaren F1 is a sports car designed and manufactured by McLaren Cars. On March 31st, 1998, the XP5 prototype set the record for the world’s fastest car in production, reaching 240 mph.
The car features numerous proprietary designs and technologies. It is lighter and has a more streamlined structure than many modern sports cars. The driver’s seat is located in the center with two passenger’s seats on either side. This allows for superior visibility.
It features a powerful engine and is somewhat race track oriented, however it does not comprise everyday use and comfort. It was conceived as an exercise in creating what its designers hoped would be considered the ultimate road car.
A modified race car edition of the vehicle won several races, including the 24 Hours of Le Mans in 1995, where it faced purpose-built prototype race cars. Production began in 1992 and ended in 1998. In all, 106 cars were manufactured, with variations in the design. Source