Elon Musk is one of the most exciting entrepreneurs in the world today. He has founded and co-founded multiple companies in several different industries that have gone on to become some of the biggest success stories of our time. In this blog, we will discuss the other companies that he owns.
Elon Musk’s Impact On Business And Culture
Elon Musk is one of the most well-known entrepreneurs in America. His innovative business ventures and progressive ideas have led him to become a global icon for entrepreneurship, innovativeness, and environmentalism. Elon has been awarded numerous accolades worldwide, including an honorary degree in engineering by Queen’s University Belfast, being ranked “Iron Man” by Forbes magazine, and being named one of the world’s most influential people in Time Magazine.
Elon is also famous for his companies, including Tesla Motors, SolarCity, SpaceX, Zip² (later sold to Compaq), PayPal (sold to eBay Inc.), and Hyperloop Technologies. His companies have had a significant impact on both business and culture.
Elon Musk’s Businesses
Elon Musk has been busy creating and running some of the most innovative companies in recent memory. SpaceX is a company that builds rockets for space flight, Tesla Motors manufactures electric cars, and SolarCity provides solar energy systems to residential homes. Three hugely successful businesses have changed the way we live our lives.
1. PayPal
Musk co-founded PayPal in 1998. He contributed $12 million to the company, which is now worth more than $41 billion. Elon Musk currently owns 20% of PayPal’s shares (although he has sold some). In 2002, eBay bought PayPal for $165 million, and it became a wholly-owned subsidiary of eBay at that time. PayPal is one of the most well-known companies in Silicon Valley.
It was founded by Musk and others while still at a university, so it’s no surprise that PayPal has been one of the most successful ventures for Elon Musk. He co-founded both Tesla Motors and SpaceX from his time at PayPal as well!
2. SpaceX
SpaceX is a private company founded by Elon Musk in 2002. It designs, manufactures, and launches advanced rockets for space missions as well as satellites. SpaceX has launched many successful payloads into orbit, including the first commercial spacecraft that can transport its cargo to the International Space Station on its own.
3. Tesla
Tesla is an American company that specializes in electric vehicles and car parts. Elon Musk founded it on July 17, 2003. Tesla manufactures all its components and has done so since the production of the Model S in 2008. The company’s first vehicle, a sports car named Roadster, became available to customers worldwide from 2008-2012.
The first Tesla electric sedan was delivered to customers in the US on June 22, 2009. Tesla plans on eventually making cars with different price ranges for various markets, but it doesn’t plan on going public anytime soon because of its focus on long-term goals.
4. Zip2 Corporation
Zip, Inc. was an online service provider specializing in creating and publishing city guides to businesses by mapping out the categories of companies for a given geographic area. The company was founded in Berkeley, California, by Elon Musk and his brother Kimbal Musk with $28,000 from their father’s electrical engineering salary at Stanford University.
In June 1999, it merged with another online local services firm called CitySearch Inc., a company that Musk owned 42%.
5. SolarCity
Elon Musk’s first business venture was in solar energy. In 2016, he merged SolarCity with Tesla to form an environmentally friendly company with many successes. Satisfying one of his goals, which was to make solar energy affordable for everyone. In early 2016 SolarCity and Tesla merged in the hopes that they could create an environmentally friendly company with success as a goal.
And it has been successful so far by satisfying Elon Musk’s other objective: making solar power affordable for all people.
6. OpenAI
OpenAI is a non-profit research company founded by Elon Musk and Sam Altman in 2015. OpenAI researches artificial general intelligence (AGI) technologies to ensure that AI systems are safe and more intelligent than humans. The organization’s first significant project, Universe, aims to create an environment to test AGI algorithms safely.
7. The Boring Company
Elon Musk is the founder of this company that specializes in tunneling. The goal of the Boring Company is to reduce traffic congestion by building a network of underground tunnels and developing new types of transportation methods and vehicles.
8. Neuralink
Neuralink was founded by Elon Musk and other tech leaders in 2016 to develop technology to connect the human brain directly to a computer. The company has hired leading academics in neuroscience, nano-engineering, machine learning, physics, mathematics, and medical science. It’s headquartered near San Francisco at 3500 Deer Creek Road, Palo Alto.
The Bottom Line
Elon Musk is one of the most exciting entrepreneurs in history. He has founded and co-founded multiple companies in several different industries that have gone on to become some of the biggest success stories of our time.
