Elon Musk goes into fragrance business, sells $1m worth of perfume brand

The world’s richest man, Elon Musk, has increased his investment portfolio by venturing into a fragrance business.

The South Africa-born billionaire is currently into car manufacturing, spacecraft and internet service, among others.

Musk informed his 108 million followers on Twitter late on Tuesday that he sold about 10,000 bottles of “Burnt Hair,” the perfume brand name.

Burnt Hair is a product of The Boring Company which offers low-cost transportation, utility, and freight tunnels.

The Tesla founder announced in September he would launch a perfume basically designed for men.

READ ALSO: US court gives Elon Musk 22 days to close Twitter deal, billionaire slams firm

The 10,000 bottles of Burnt Hair generated about $1 million for the billionaire and the company accepts cryptocurrency, Dogecoin, as payment for the perfume which is sold for $100 per bottle.

Musk wrote: “With a name like mine, getting into the fragrance business was inevitable – why did I even fight it for so long!?”

The billionaire is known for diversifying his business interests having gone from co-founding a payment company, PayPal, into investing heavily in Tesla and transforming the automaker into one of the world’s most valuable companies.

He also established SpaceX and Starlink, with both companies offering space travel and internet service respectively.

Musk is also on the verge of completing a deal for the acquisition of a social media firm, Twitter.

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