How did Elon Musk make his money?

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Entrepreneurial Activities[Editing

Zip2 (1995)[Edit

In 1995, Musk and his brother Kimbal founded his first company, Zip2, which offered content to media companies.At the time, Musk said, he had “a vague idea of the opportunities that a dotcomcompany, 2,000 U.S. dollars of capital, a car, and a computer could offer.” When computer maker Compaq bought the company in 1999 for USD 307 million, this was the highest price paid to an Internet company to date; Musk himself was subsequently able to draw on USD 22 million in capital through his shareholding. and PayPal (1999/2000)[Edit

Main article: PayPal

Immediately afterwards, in 1999, Musk founded the company, which developed an online payment system via e-mail.As early as 2000, merged with the competitor Confinity, which specialized in a similar product called PayPal.

PayPal became the world’s most important online payment system in the years that followed 鈥?and generated sales of USD 1.5 billion when it was sold to eBay in 2002.Musk held 11.7% of the company’s shares at the time, making him the largest shareholder.

In July 2017, Musk repurchased the domain from PayPal.

While Musk’s Internet companies opened up new markets with products that didn’t exist before, the business idea that would underpin the entrepreneurial activities of the following years was another: Musk wanted expensive and technically complex ones. offer products cheaper and suitable for mass production.

Elon Musk inspects a heat shield at SpaceXassembly hall (2008)

SpaceX (2002)[Edit

Main article: SpaceX

Launch of the fifth Falcon 9rocket with a Dragon capsule to the ISS as part of the CRS-2 supply mission (2013)

Musk’s third start was space company SpaceXin 2002.

He is CEO and chief rocket designer there.With high cost efficiency, SpaceX became the world’s leading commercial provider of orbital rocket launches within 15 years, especially for the transport of satellites into orbit.SpaceX has also been supplying the Space Station (ISS)with the Dragon spacecraft since 2012.With the successor Crew Dragon, manned flights to the ISS are also planned.

SpaceX’s goal is to reduce the cost of space transportation to the point where it becomes possible to locate humans on other celestial bodies, especially Mars.

A first groundbreaking step along the path was the establishment of a landable and reusable rocket stage in 2017.The second major step towards affordable space travel is to be taken with the fully reusable Starship and Super Heavy rocket in development.The aim is to fly for Mars settlers at a cost of USD 100,000 per person.

Tesla (2004)[Edit

Musk and Senator Dianne Feinstein next to a prototype of the Tesla Model S (2010)

Main article: Tesla, Inc.

In addition, Musk invested in Tesla ,which specializes in the production of electric cars, in the spring of 2004, with the aim of being in no way inferior to conventional comparable vehicles.

He is THE company’s CEO and Product Architect.

In mid-June 2014, the company released the patents it held under his aegis in order to give a boost to the development of electric vehicles.

Following the internetmeme All your base are belong to us, Musk put this idea under the deliberately grammatical false motto:“All Our Patent Are Belong To You”

(English: “All our patents are yours”).

Since 2015, Tesla has also been manufacturing the Tesla Powerwallenergy storage systems for households and businesses.

SolarCity (2006)[Edit

Main article: SolarCity (Company)

In 2006, Musk and his cousins Peter Rive and Lyndon Rive founded SolarCity, which designs, distributes, installs and, if desired, finances, rents and operates solar power plants.

SolarCity was acquired by Tesla in 2016.

OpenAI (2015)[Edit

Main article: OpenAI

In 2015, OpenAI was founded in the form of a non-profit company.The aim is to explore artificial intelligence; this should serve the public, that is, the whole of humanity.Elon Musk and other investors have provided the company with a total of USD 1 billion.

In February 2019, Musk announced that he was withdrawing from the project due to disagreements and conflicts of interest.

Neuralink (2016)[Edit

Main article: Neuralink

In July 2016, Musk founded The Company Neuralink, which explores ways to connect the human brain to machines.In March 2017, Musk’s involvement in Neuralink became known, but at the same time emphasized that the research project is still in its early stages.

The Boring Company (2016)[Edit

Main article: The Boring Company

After Musk tweeted in December 2016 that he would move inner-city traffic underground using a tunnel system, he set up the project the same month.

the Boring Company.

Among other things, he plans to work with the company to build a high-speed tunnel system in the Los Angeles area, to which neighboring cities will also be connected.

The Boring Company also plans Hyperlooptunnel connections between New York, Philadelphia, Baltimore and Washington, D.C.

Smaller items are also distributed by The Boring Company, such as Musk offering a flamethrower called “Not A Flamethrower”.

Thud (2018)[Edit

In March 2018, it was announced that Elon Musk had founded a media company called Thud or Thud!.It will beactive in the field of comedy.He said he had already begun recruiting employees of the satirical website The Onionin 2017, who have been working in secret in Los Angeles to build the company.

The website Thud finally went online in March 2019.It shows only the message “Thud is a comedy project that creates immersive experiences satirical” (Thud is a comedy project that creates immersive satirical experiences) as well as a list of the authors involved.At the same time, the website DNA Friend, a persiflage on DNAanalysis services such as 23andMe and AncestryDNA, was the first Thud project to be published.

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