Musk founded SpaceX in 2002 to cut the cost of space exploration. SpaceX is a company that develops, produces, and launches sophisticated aircraft.
SpaceX has launched 144 rockets and spacecraft since its inception, with 106 of them safely landing. Its most recent flight, named the “Starlink Mission,” took place on February 3 and saw Falcon 9 launch 49 Starlink satellites into low-Earth orbit.
SpaceX is the only commercial business that has returned a spacecraft from low-Earth orbit as well as transported passengers to and from the International Space Station. The corporation believes in the potential of reusable rockets and has reflown 83 of its own to demonstrate this belief.
The corporation, which is worth more than $100 billion, is the world’s second most valuable private company.
The Boring Corporation
Musk established the American construction firm The Boring Company in 2016. Its efforts are mostly aimed towards solving traffic problems and enabling point-to-point movement inside cities.
According to their website, The Boring Company argues that big cities need either flying vehicles or tunnels to alleviate traffic congestion.
,. Musk chose the second option because tunnels aren’t affected by weather and “won’t collapse on your head.”
The Boring Company debuted its first project at the Las Vegas Convention Center in April 2021. The business built two parallel 1.7-mile-long tunnels, each with Tesla cars transporting people to their selected location across the middle.
The Neuralink Corporation
Musk is also the owner and co-founder of Neuralink Corporation, a neurotechnology firm that is working on implantable brain-machine interfaces. The primary purpose of the firm is to develop brain implants that can connect with phones and computers, as well as to assist persons with paralysis in regaining their freedom.
“Our gadgets are meant to provide individuals the capacity to communicate more simply via text or voice synthesis, to pursue their curiosity on the web, or to express their creativity through photography, painting, or writing applications,” according to the Neuralink website.
Total investment in the firm has topped $363 million as of this year.
Although Zip2 is no longer in operation, it was Musk’s first venture back in 1995. The firm offered a searchable business directory, which was essentially a “online version of the yellow pages” with maps.
According to Musk, the company’s objective was “that everyone should be able to discover the nearest pizza parlour and figure out how to get there.”
Zip2 was purchased by Compaq Computer Corporation for $307 million in 1999.
Musk established OpenAI, a non-profit research and development organisation, in 2015. Despite resigning from the board in 2018, he remains a significant contributor.
The business is a rival to DeepMind, and its mission is to ensure that “artificial general intelligence benefits all of mankind.”
OpenAI is one of the world’s premier AI research laboratories, with the ultimate aim of being the first business to create a computer with the learning and reasoning abilities of a human mind.
Tesla is undoubtedly Musk’s most well-known firm. Tesla, an American electric car and clean energy firm, has generated headlines since its inception in 2003 due to its breakthroughs in the automotive sector and sustainable energy endeavours.
Tesla intends to hasten the shift to renewable energy by manufacturing energy storage solutions such as solar panels and solar roof tiles, as well as batteries for electric cars. While the firm has received several awards, it is most known for designing the first luxury all-electric car and is presently working on its most economical vehicle, which will be introduced in 2023.
With a market capitalization of almost $583 billion, the firm is now the world’s largest automotive corporation.
Tesla also purchased SolarCity, a firm that sells solar energy production equipment door-to-door. Tesla paid $2.6 billion for the firm, which was started in 2004 by two of Musk’s cousins.
Some investors, however, were not pleased with the acquisition since Musk had links to the founders and “overpaid for SolarCity, overlooked their own conflicts of interest, and neglected to disclose ‘troubling facts’ crucial to a reasonable appraisal of the proposed deal.”
This may come as a surprise, but Musk is also a co-founder of PayPal. PayPal is a global financial technology firm that supports online money transfers as an electronic replacement to cheques or money orders.
PayPal was founded in 1998 and merged with Musk’s prior business, X.com, in 2000. PayPal has now become a Fortune 500 firm, and it had its biggest year ever in 2020, with approximately 73 million net new accounts.