Elon Musk’s Co-Founded Companies: The List Of Companies Co-Founded By Elon Musk
Elon Musk’s Co-Founded Companies: The List Of Companies Co-Founded By Elon Musk
Elon Musk is an entrepreneur and business-minded individual who co-founded several cutting-edge businesses. Because of the numerous companies he has cofounded in addition to his own, Elon Musk has truly established a strong internet portfolio. As the richest man in the world, he owns numerous businesses.
All of the most cutting-edge businesses that Elon Musk cofounded will be listed in this blog article, along with the most recent additions to Twitter.
The List Of Companies Co-Founded By Elon Musk
Here is the list of companies cofounded by Elon Musk
1. Zip2
Zip2 is noteworthy for being the first business Musk founded, even though it is now long gone. In 1995, Musk and his brother, Kimbal, founded the company, which licensed online city guide technology to newspapers. Compaq Computer paid roughly $300 million for it in 1999. Musk made $22 million from the transaction, according to Wikipedia, and used the money to launch X.com, which later changed its name to PayPal.
2. Neuralink
According to Fortune, Musk co-founded this health tech company with “a dream team” of eight scientists. According to the business, Neuralink is creating implantable brain machine interfaces for a variety of uses, such as aiding those suffering from paralysis and brain trauma. Neuralink has finished a number of funding rounds, the most recent of which being $205 million.
3. OpenAI
Musk co-founded the nonprofit artificial intelligence business OpenAI in 2015 with the goal of developing AI in a way that is safe and advantageous to all people. In 2019, a year after co-founder Musk left the board over a possible conflict of interest with Tesla’s development of self-driving AI, the firm changed to a for-profit, capped-profit structure. But he continued to advise and donate. In 2019, Microsoft made a $1 billion investment.
4. PayPal (through X.com)
In 1999, Musk was a co-founder of X.com, his second firm. A year later, the online financial services provider merged with rival Confinity Inc. In 2002, the combined business went public and changed its name to PayPal. PayPal was purchased by eBay for $1.5 billion that year. Musk held more than 11% of the shares at the time.
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Long before PayPal was split off to become a separate business in 2014, Musk sold his share and used the money to launch SpaceX, Tesla, and other businesses. Musk purchased the now-defunct domain name X.com from PayPal in 2017 for an undisclosed sum, maybe foreseeing a need (see X Holdings).
5. SpaceX
Using $100 million from his PayPal settlement, Musk founded Space Exploration Technologies Corp. (doing business as SpaceX) in 2002 to transform space transportation technologies and settle other planets. 153 rockets delivering satellites or spacecraft into orbit have been launched by SpaceX since its foundation, including a recent one with an all-civilian crew. Including for NASA, it is a top supplier of launch services. Despite being privately held, SpaceX is valued at $100.3 billion, according to CNBC, after rounds of fundraising totaling $1.5 billion in 2021.
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6. SolarCity (now Tesla Energy)
With Musk’s support, his cousins Peter and Lyndon Rive established SolarCity in 2006. Before Tesla bought it in 2016 for roughly $2.6 billion and restructured it as its energy generation and storage supplier, it was a publicly traded corporation. Although 2021 might have been a game-changer, the company has not taken off as quickly as Tesla’s automobile division. Significant revenue increase in 2021 has been attributed to a number of large projects and the rising popularity of other products. Nevertheless, that year the section reported a loss.
7. Tesla, Inc.
Following the Big Three automakers, Tesla completely upended the conventional industrial sector, something no one had ever imagined was possible. Two engineers and businessmen, Martin Eberhard and Marc Tarpenning, founded Tesla in 2003. According to Wired, Musk became the biggest stakeholder in February 2004 after investing $6.3 million. Since 2008, he has been its CEO, and in 2010, it became public. With record-breaking sales, profits, and vehicle deliveries in 2021, Tesla declared yet another record-breaking year. In 2021, Tesla shipped 936,222 vehicles.
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8. X Holdings I, II, and III
Musk filed three businesses under the name “X Holdings” as part of his attempt to purchase Twitter. He has been an outspoken opponent of the social media behemoth, casting doubt on its dedication to free expression. Musk wants to take Twitter private and owns 9.2% of the business.
If Musk closes the deal, X Holdings I would become the parent firm, and X Holdings II would merge with Twitter, according to SEC filings. The deal would be partially financed by X Holdings III. Musk claims to have secured $46.5 billion in financing pledges. Investors are now curious as to whether he plans to merge his other businesses under X Holdings. Although Investopedia states that “it is dependent upon Twitter shareholder approval, regulatory approval, and other closing conditions,” Musk’s buyout offer was approved by Twitter on Monday, and the deal is anticipated to close this year.
9. The Boring Company
In 2016, Musk established the Boring company, a corporation that builds infrastructure and tunnels, with the goal of “solving the problem of soul-destroying traffic, roads must go 3D.” With others in varying phases of development, building, and discussion, TBC has finished a number of tunnels. TBC was valued at $5.675 billion after the company’s third investment round, which totaled $675 million, was recently concluded.
