9 Sectors Disrupted By Elon Musk ‘s Aspiring Companies.
Elon Musk and his companies. Elon is one of the most influential and visionary entrepreneurs of all time. He is the one having eyeballs on him due to his extraordinary ambitions and vocal opinion on various issues be it upon AI, public transportation, or COVID-19 pandemic.
Most of us must be aware of his vision in the expedition to Mars, electric cars, and working on solar energy. Elon currently is a part of 7 companies and successfully exited from 2 of his previous ventures.
Elon’s current net worth is 36.5 Billion and ranked as the 31st richest person in the world.
In this article, we gonna look upon Elon Musk ‘s career journey and the companies which he has been associated with. We will also look upon how they established, their functions, and their vision.
I can bet that before this article you were not aware of Elon Musk ‘s all companies (At least I was not) and his effort to serve mankind.
So here we go.
Zip2
Elon founded this company with his brother Kimbal and Greg Kouri in the year 1995.
The company provided internet city guides for the newspaper publishing industry, with maps, directions, and yellow pages, etc.
Elon wrote the codes in Java.
The company was assisting local businesses with their Internet presence in the initial days. Later moved to provide services to newspaper companies.
Later in the year, 1999 Compaq acquired Zip2 for $307 Million cash. Elon received $22 Million for his 7% Shares.
Paypal
Elon founded the company named as X.com in 1999 with a capital investment of $10 Million. It provided online financial services and email payment facilities.
In the year 2000, X.com merged with his competitor Confinity and Elon became the CEO. Same year October, Elon was removed from the CEO due to the disagreement with the company’s officials.
The company was renamed as Paypal, which used to be a service provided by Confinity in 2001.
In 2002, eBay acquired Paypal for $1.5 Billion. Elon was the largest shareholder of PayPal with 11.7%, Hence received $165 Million.
SpaceX
Elon Musk founded SpaceX in the year 2002. Basically, SpaceX is a private aerospace manufacturer and space transport service company.
The vision of Elon with SpaceX is to reduce the space transportation cost to enable colonization of Mars. But the space exploration mission was very expensive. Hence, to reduce costs they applied vertical integration theory and the SpaceX launch price was decreased by a factor of 10.
Elon holds 54% of SpaceX stock. He hopes to send humans to Mars’s surface. According to him, he wants to establish a Mars colony by 2040 with a population of 80,000.
Tesla
Martin Eberhard and Marc Tarpenning founded Tesla in the year 2003. It is an electric vehicle and a clean energy company. It specializes in electric vehicle manufacturing and battery energy storage.
The company’s name is a tribute to the great Nikola Tesla. Elon joined the company as an investor in 2004 and operated as the chairman. From 2008 to till now he is leading as the CEO of Tesla.
Tesla built his first electric car in 2008 named as Tesla Roadster. They used that money to build an affordable car and further even more affordable ones. Along with they also provide zero-emission electric power generation options.
Elon announced that Tesla’s technology patents can be used by anyone having good faith in the electric automobile industry in 2014.
In 2016, Tesla acquired SolarCity.
Tesla opened the factory in China in 2019. It was named Giga Shanghai, also as Gigafactory 3. It was Tesla’s first factory outside the US.
I have also written an article regarding China and how it became the manufacturing hub of the world. Click here to read it.
SolarCity
Elon’s cousin Lyndon and Peter Rive founded this company in the year 2006. SolarCity specializes in solar energy services. It markets manufactures and installs solar panels and solar roofs in the USA.
Elon initially became chairman and helped his cousins to start the company. Slowly SolarCity started collaborating with Tesla to use electric vehicle battery and in the year 2016, Tesla acquired SolarCity.
Elon’s motive behind both Tesla and SolarCity is to reduce Global Warming.
Hyperloop
The idea for this venture struck Elon’s head in August 2013. According to him, It is a concept of a high-speed transportation system. The transportation system uses minimized pressure tubes, induction motor, and air compressors.
After having a proper vision regarding it, Elon assigned a group of engineers from Tesla and SpaceX to work upon it. After 9 months they came with a proper design and model.
In 2017, Elon said that they have received a verbal agreement from the government to build Hyperloop from New York to Washington DC.
However, he hasn’t received a written agreement to date.
Open AI
In December 2015, Elon announced the creation of this company. It is a not for profit artificial intelligence research company.
On the Joe Rogan Show, Elon expressed his concern about the dangers in the growth of AI immediately.
Open AI believes in the development of safe AI which will benefit mankind.
Neuralink
Elon and some of the other members founded this company in 2016. It works on neurotechnology which tries to integrate the human brain with artificial intelligence.
The company’s main focus is to create devices that can be implanted on the human brain for the enhancement of it and for the betterment of society.
In July 2019, it had received $158 Million in Funding and currently operates with 90 employees.
The Boring Company
Elon founded this company in December 2016 due to the problems he was facing during the traffic. He tweeted “I am going to build a tunnel boring machine and just start digging …”.
The Boring Company is an American infrastructure and tunnel construction service company.
Initially, it was a subsidiary of SpaceX but in 2018 it became an independent company. It has active construction in various parts of the US.
Conclusion
In this article, we have discussed different companies of Elon Musk and his ambition in various industries. From Space Technology to the Automobile industry, Solar Energy to Transportation, and AI to Infrastructure, Elon is involved in all of these.
In my opinion, though Elon is often criticized because of this direct and straightforward opinions, We cannot deny that this man is dedicated to change the future of mankind for the betterment.
Were you aware of all these companies?
Which company did you love the most?
Comment below.
Thanks for reading the story.
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