Elon Musk is the world’s second richest businessman and the CEO and Chairman of Tesla and SpaceX, as well as the king of cryptocurrency, space exploration and technology pioneer and Mars researcher . But do you know that not only Tesla or Twitter, but Elon Musk also owns many other companies? Moreover, Musk hit the peak of his career at a relatively young age and had his own share of struggles and setbacks to eventually reach the position he is in today. This formidable business tycoon is an inspiration to many. After many struggles and failures, Elon Musk owned more than 10 companies.
Here is the list of the 8 best companies managed by Elon Musk:
The fact that Musk is also a co-founder of PayPal may come as a shock to some. A multinational fintech company called PayPal offers online money transfers as an electronic substitute for checks and money orders.
PayPal was established in 1998 and merged with Musk’s former company, X.com, in 2000. With around 73 million net new accounts in 2020, PayPal had its biggest year yet and surged at Fortune 500.
Musk created the aerospace company SpaceX in 2002. SpaceX and its rivals aim to be the companies that can take humanity further into the stars as NASA has lagged in space exploration since the 1980s.
Musk wants to make Mars travel and space exploration economically feasible. For a private company, SpaceX has accomplished a number of firsts, including the first orbital human launch and the first reuse and relaunch of a crewed spacecraft.
Tesla is undoubtedly the brand that Musk is best known for. Since its inception in 2003, the American electric vehicle and clean energy company, You’re here has received media attention for its innovations in the automotive and clean energy sectors.
By creating energy storage solutions like solar panels and solar tiles, as well as batteries for electric vehicles, Tesla aims to accelerate the transition to sustainable energy. The company has won numerous awards, but the one that stands out is that it created the first all-electric luxury sedan and is currently working on its lowest-priced vehicle, which will go on sale in 2023.
An angel investor is someone who provides capital for a business or business start-up, usually in exchange for convertible debt or equity. Angel investors typically provide support to start-ups in the early stages (when the chances of start-ups failing are relatively high) and when most investors are not ready to support them.
The boring company
The company was established in 2016 for Musk’s infrastructure development. He’s previously talked about his ideas for a “Hyperloop” transportation system, which would essentially be vehicle tubes under the ground. The proposals have been criticized for being less convenient and more expensive than other public transport options, such as trains.
In 2016, Musk co-founded a company conducting brain research. Its goals include the treatment of serious brain disorders and an effort to connect artificial intelligence and the human mind. The start of clinical trials is expected soon.
He claimed the innovation would “allow a paralyzed person to use a smartphone with their mind faster than a person using their thumbs.”
In 2015, Musk created OpenAI, a nonprofit research and development organization. Although he left the board in 2018, he continues to be a significant donor. With the intention of ensuring that “artificial general intelligence benefits all of humanity”, the company is a rival to DeepMind.
OpenAI is one of the best AI research facilities in the world with the ultimate goal of being the first company to create a machine with the learning and reasoning capabilities of a human mind.
Twitter is the latest purchase made by Musk. While his plans for the website are still unclear, he will undoubtedly change course. Elon Musk said in a statement that “freedom of expression is the cornerstone of a healthy democracy, and Twitter is the place of the digital city where crucial questions for the future of humanity are debated.”