Elon Musk earned a spot at the Museum of Failure, which listed 14 reasons including the strange names he gave 2 of his kids

• Elon Musk earned a spot at the Museum of Failure in Brooklyn, which listed 14 reasons.
• It included his decision to call two of his children X AE A-XII and Exa Dark Sideræl.

According to the Museum of Failure, there's no such thing as innovation without a few bumps along the way.

That's something Elon Musk is familiar with, and has earned him a spot at the museum for 14 reasons, which include the unusual names he gave two of his kids: X AE A-XII and Exa Dark Sideræl, who also now goes by Y.

Some of the other failures include his involvement with PayPal; Tesla and SpaceX going nearly bankrupt in 2008; falsely tweeting about taking Tesla private, which earned him a lawsuit; his Guinness World Records recognition for the "largest loss of personal fortune in history"; and failing to attempt to walk away from his $44 billion takeover of Twitter.

The museum also cites some of his successes, including Tesla and SpaceX, as well as his previous crown of being the world's richest person. He first lost that status in late 2022 after Tesla shares sunk and he was overtaken by LVMH CEO Bernard Arnault.

"As one of, if not the most, polarizing figures of the last decade, Elon Musk's status is hotly debated," the museum's display states.

"Sure, Tesla revolutionized the electric car industry, but Musk didn't actually create the tech; he invested smartly."

"Does investing in bold ventures count as innovation? Examine his legacy and decide for yourself: is he a failure or a success?"

Musk doesn't see failure as something to be upset about, however. Rather, he believes it's essential to allow a company to prosper. He said during a 2012 speech in London: "If things are not failing, you are not innovating enough."

Despite its name, the museum doesn't rejoice in individuals' failures, but treats them as opportunities to learn.

"Innovation and progress require an acceptance of failure. The museum aims to stimulate productive discussion about failure and inspire us to take meaningful risks," it says on its website.

The museum is in Brooklyn until June 18 and has previously been on display in cities including Calgary, Canada and Taipei, Taiwan.

It's curated by psychologist Dr Samuel West, and says every exhibit "provides unique insight into the risky business of innovation."

Musk didn't immediately respond to a request for comment from Insider, made outside normal working hours.