6 Companies Owned By Billionaire Entrepreneur-Elon Musk
I don’t think Elon musk needs introduction of any sort. He is not just the owner of Tesla, rather he has invested/ owns a lot of companies.
Billionaires always are a shareholder of multiple companies and not just the company built by them. That’s what make them super rich. They know about the power of investing.
Who is Elon Musk?
Elon Reeve Musk FRS is an engineer, entrepreneur, and business magnate. He is the founder, CEO, and Chief Engineer at SpaceX; early-stage investor, CEO, and Product Architect of Tesla, Inc.; founder of The Boring Company; and co-founder of Neuralink and OpenAI.
Companies Owned by Elon Musk
Neuralink Corporation is a Brain Computer Interface Neuroprosthetics company ,in simple words it is a Neurotechnology Company. The company’s headquarters is in the Pioneer Building in San Francisco sharing offices with OpenAI. Neuralink was launched in 2016 and was first publicly reported in March 2017.
Recently the company has released a video , in which a Monkey is playing a video game using Neuralink Implant.
The Boring Company is an American transportation company and creates safe, fast-to-dig, and low-cost transportation, utility, and freight tunnels.
The mission of this company is to solve traffic, enable rapid point-to-point transportation and transform cities.
In 2020, The Boring Company had projects under way in Baltimore, Chicago, Hawthorne, Calif., Las Vegas, Los Angeles, and Washington, D.C. To fund the project, Musk announced that he would start selling The Boring Company branded hats.
On Dec. 16, 2017, Musk announced he had sold 42,000 hats and raised $840,000. After hitting his goal of selling 50,000 hats, Musk began selling the next branded Boring Company product: a flamethrower. Musk sold these flamethrowers for $500, and in just a few days, Musk had raised $10 million.
3. Open AI
Open AI, one of the companies owned by Elon Musk, aims to research about Artificial Intelligence for well being of Humanity. Elon Musk was one of the founders of Open AI. The company also provides an opportunity to learn about AI through it’s non- profit Board.
Space Exploration Technologies Corp (Space X) is an American based Aeronautical company. It was founded by Elon Musk in 2002 with a motive to reduce the costs of space exploration.
Musk used much of the proceeds of his PayPal sale to found Space Exploration Technologies Corp., commonly known as SpaceX. Musk spent $100 million to found SpaceX in 2002, by his very own account.
NASA awarded SpaceX a lucrative contract in 2006. In 2009, SpaceX launched Falcon 1, the first-ever private liquid-propellant rocket to reach orbit. In 2010, SpaceX’s Dragon spacecraft reached the International Space Station (ISS). In 2012, NASA granted SpaceX a second contract to help shuttle crew members between the ISS and Earth
Many people doesn’t know about this but Elon Musk is the co-founder of this internationally used payment gateway.
PayPal Holdings, Inc. is an American multinational financial technology company operating an online payments system in the majority of countries that support online money transfers, and serves as an electronic alternative to traditional paper methods such as checks and money orders.
Musk no longer holds a stake in PayPal. He exited his position after the e-commerce company eBay purchased PayPal for $1.5 billion in 2002. Musk reportedly earned $180 million in the sale.
In 1999, Musk used $10 million to co-found X.com, an online financial services and email payment company. A year later, the company merged with Confinity, which was later renamed PayPal in 2001.
6. Tesla Inc
Tesla is an American motor company which only manufacturers electric powered vehicles. Elon Musk is the co-founder & CEO of Tesla.
The company aims to deliver clean energy cars and has number of subsidiary companies – Solar City, Tesla Grohmann Automation, Maxwell Technologies, Deep Scale & Silion.
In November 2017, Tesla announced the creation of fully electric semitrucks, which were preordered by companies such as United Parcel Service (UPS) and PepsiCo. The company’s affordable and high-quality electric vehicles include the Model S, the Model X SUV, the Model 3 sedan, and the high-end Roadster supercar.
In January 2020, Reuters reported that Musk was set to earn $346 million in stock awards as part of a performance-based compensation package. Musk does not receive a salary for being a part of the company, rather he receives stock award options that vest based on the company’s market capitalization and other growth milestones.
Musk owns around 241 million shares of Tesla, or 25% of the company.