Why was Nikola Tesla poor at the end of his life? He was unfathomably intelligent to be poor. Why was he poor?
Answers
Answer:
Nikola Tesla died with free rent and a pension of $125 which is quite a lot in today’s dollars… far more than millions of US seniors today have.
He had many patents but were nothing compared to the $50,000 ($12M today) that Edison bilked him out of for successfully doing what Edison was incapable of. That was a practical joke according to Tesla because he took Edison at his word, being a trusting immigrant…a verbal contract to which Edison said only that he needs to learn about ‘the American sense of humor.’
He left him out with no compensation. Now jobless, he was relegated to digging ditches for two years to sustain himself. It didn’t make him bitter.
Real Humor: Tesla made the DC motors that Edison depended on but couldn’t make himself or fix. Then he improved them and then utterly surpassed DC technology altogether.
That is nothing in comparison to the amount of money he would’ve have received from other ventures and especially the Westinghouse Electric company offering $2.50 per kilowatt of AC power plus $2000 a year (a nice salary over 6 figures in today’s dollar). It would’ve made him a billionaire except…
He turned it down!
…why?
Edison did everything he could to prevent Westinghouse Electric from beating the Edison Electric Co. which Tesla made operable and better for free.
Still, the strain of Edison’s lawsuits and thugs hurt Westinghouse.
Tesla, out of kindness, tore up the contract. Both men knew what Edison was and how much power he held. Would you trade your dream for money?
Then a third time, Tesla’s lab burned to the ground, vanquishing his immediate goals and he suffered a nervous breakdown.
Despite Edison’s animal-killing displays, no one worried about the safety of AC and Westinghouse, with Tesla’s help, eventually won.
Explanation:
Tesla was poor by his own hand, he often gave away his inventions to people who made millions off them and he made nothing. It’s true Tesla was a genius but when it came to money and finances he sucked terribly.
By the way, it’s not uncommon for these things to happen. I myself made a good deal of money during my life but was smart enough to realize I sucked and money management, so I got a CFP and they made my money make money for me ensuring I could retire early in spite of a late in life divorce
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