In the fast-paced world of tech billionaires, Elon Musk is known for pushing boundaries, both in technology and in life. One incident involves the crash of a very rare McLaren F1, highlighting his courageous approach to risk. This time, though, his bold move resulted in more than just a thrill.
The story, which Musk shared with Sarah Lacy on PandoDaily, dates back to the late 1990s. Fresh off the sale of his startup Zip2 for more than $300 million, Musk decided it was time to pursue the finer things in life. And what could be cooler than the McLaren F1, a car that was one of the fastest and most exclusive in the world at the time? With only 106 examples ever made, owning a McLaren F1 was a dream for many but a reality for very few. The price of the car was around $1 million, a steep increase from the original price but a drop in the ocean for Musk.
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“Three years ago, I was showering at the YMCA and sleeping on the office floor,” Musk recalled in a 1999 CNN Perspectives documentary, reported by Business Insider. “Now I have a million-dollar car and a lot of comfort.” Musk’s purchase wasn’t just a display of wealth; it was a testament to how far she had come.
In the interview, Musk explained that he put 11,000 miles on the car. He drove it from Los Angeles to San Francisco and it was his daily vehicle, which he admits was “a crazy car to have as a daily driver.”
Although he drove it often, he said in the interview that he didn’t really know how to drive the McLaren. Its incredible power delivery to the wheels, boasting 640 brake horsepower, combined with its lightweight construction of just one ton, results in exceptional performance.
In 2000, while driving down Sand Hill Road with PayPal Inc. co-founder Peter Thiel for a meeting, a moment of bravado led Musk to demonstrate the car’s capabilities. “Look at this,” he said, moments before the McLaren lost control, flew “like a saucer” 3 feet in the air and crashed. The worst part? The car was not insured.
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“I remember seeing cars coming towards me as I was going backwards,” Musk said, describing the surreal moment before impact. The car hit a hidden embankment on Sand Hill Road at a 45-degree angle, launching it into the air “like a puck.” According to witnesses, the McLaren maintained a distance of about 3 feet before crashing into the ground, going in the original direction. The aftermath was a spectacle of destruction.
“We blew the suspension… the main frame and engine were ok, but all the glass, wheels and everything was destroyed. There was massive body damage at the front and rear,” Musk said.
Musk and Thiel later hitchhiked to their meeting, a reminder that even the most successful entrepreneurs are not immune to missteps. The McLaren was eventually repaired and sold to a new owner in California.
Lacy asked Musk if there was a parallel between the dramatic incident and the way he builds companies. Musk’s response was: “I hope not. It could be awkward with a rocket launch.
Despite the accident, Musk’s McLaren F1 adventure is more than a cautionary tale about the dangers of showing off. It’s a snapshot of a time in Musk’s life when anything seemed possible and risks, no matter how reckless, were just part of the journey. The silver F1 remains a performance benchmark for Tesla Inc., with Musk pointing out that the Model S P85D matched the McLaren’s 0-60 mph acceleration time and that the P100D later beat it.
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