What Companies Does Elon Musk Own?
Who Is Elon Musk?
Elon Musk is an American entrepreneur and businessman who was born in South Africa in 1975, founded X.com in 1999, SpaceX in 2002, and Tesla Motors in 2003. In his late 20s, as a result of selling his start-up business, Zip2, to a division of Compaq Computers, Musk became a multi-millionaire.
In the spring of 2012, Musk's company, SpaceX, launched a rocket that would be the first commercial vehicle to carry supplies to the International Space Station. He bolstered his portfolio by buying SolarCity in 2016, and solidified his leadership position in the industry by helping manage the early days of the Trump administration.
In January 2021, it was announced that Elon Musk had become the world's wealthiest individual, displacing Jeff Bezos.
What Companies Does Elon Musk Own?
Regardless of what everyone thinks of him, Elon Musk is a disruptor who is addressing a wide variety of issues. He is best known for his two business ventures: the electric vehicle company Tesla and the rocket startup SpaceX, but he has a lot more going on. A short list of the numerous businesses Musk has created that are challenging legacy industries and developing new ones is listed below.
The Boring Company
The Boring Company was founded in December 2016 when Musk became dissatisfied with traffic in Los Angeles and the limitations of two-dimensional transportation networks. The startup aims to develop underground tunnels that help pedestrians, freight, utilities, or autonomous electric vehicles get from A to B in a more direct fashion.
Projects such as a tunnel that would connect Washington, DC and Baltimore, Maryland have been proposed by the company. A company in Hawthorne, California, is constructing an initial test tunnel as well as a project in Las Vegas to transfer passengers between the Las Vegas Convention Center campus and McCarran International Airport.
In another notable business change, the Boring Company sold 20,000 flamethrowers to customers, earning the company $10 million in sales. It may have been a marketing stunt or a way to raise more money without incurring debt or decreasing equity.
In July 2016, Musk created Neuralink Corporation, which is working on an implantable brain-machine interface. Initially, the firm plans to use the tech to help those with paralysis recover independence by using computers and mobile devices. The company wants the devices to allow people to use text and speech synthesis, surf the web, and build applications like photography, painting, and writing.
The unveiling of a pig in August of 2020, named Gertrude, featuring a coin-sized computer chip implanted in its brain as a proof of concept, took place. According to Musk, Neuralink has received an FDA device designation that gives the company the right to perform restricted human testing within the confines of FDA guidelines.
OpenAI is an artificial intelligence research laboratory that was developed in December of 2015 by Musk and a few other people. In February 2018, Musk resigned from the company's board, but he remains one of its top donors.
The company behind OpenAI is dedicated to creating a computer with human intelligence that prioritises openness and protection. In June 2020, the laboratory's first commercial product was made available. The name for the tool, “the API,” helps to enable direct access to OpenAI's generic text generation AI, which has been educated on trillions of words from the internet. At first, the lab was sceptical about publishing the full text generation AI, as it could be misused.
SpaceX has made a name for itself in the industry by designing reusable rockets, space tourism, and their network of satellites that offers internet access on earth. Space travel has always been costly, but SpaceX was created in 2002 by Elon Musk with the intention of making space travel cheaper and promoting the colonisation of Mars.
However, the company's beginnings were established with lofty expectations, and it has accomplished great success in the aerospace industry. In August 2020, the organisation will commemorate a sixth reuse of a Falcon 9 first stage booster, which previously flew for the first time in February 2015. With the Crew Dragon spacecraft's first operational flight launches to the International Space Station expected to finish at the end of October, the company's success does not stop there.
Musk also made a tweet stating that once the satellites reach their final location, they will allow a fairly large public beta in northern US and southern Canada. As soon as we obtain regulatory approval, we will begin following other countries.
Tesla was a game-changing electric vehicle (EV) manufacturer that was also one of the first to popularise the concept of battery-electric vehicles. The company unveiled the prototype of its electric vehicle, the Roadster, in 2005 and started producing it in 2008. The company has extended their portfolio of electric vehicles to include an SUV, sports car, and sedan, and the company will soon launch a line of electric semi-truck and pickup trucks.
Tesla, the electric vehicle maker, has also grown beyond its core automotive market and into renewable energy production and storage. The company acquired another Musk-founded company, SolarCity, in 2016, which marketed solar power systems. Tesla acquired SolarCity. Now, the subsidiary is concentrating on selling its own solar panels, while manufacturing panels in the form of roof shingles, which offers a more desirable and efficient solution. Tesla is also a major manufacturer of both solar panels and battery systems for customers to store their excess electricity.
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