The previous blog explained the life history of Elon Musk, and here, you are going to discover his business biography in detail. 😊
No one is born in this world as a winner. one who converts question marks and exclamation marks into positive ones. they are meant to be achievers and winners.
At the age of 12, he had an idea to learn gaming codes and discovered a game called “blasters” and sold it for $500. That may be a starting point of all the business which he currently running now.
Let’s see his castle now, 😊 😋
PAYPAL
The first company started by Musk was Zip2, a web software startup that created online city guides for newspapers. Musk and his younger brother, Kimbal Musk, founded the company in California in 1995 and eventually sold it to Compaq for roughly $300 million in 1999.
Elon then founded an online financial services company X.com on his own. Its main rival was a company called Confinity, founded by Peter Thiel and two others just months after X.com, with offices in the same building.
The two companies merged in March 2000 and took on the name of their main product, PayPal which specialized in transferring money online. The online auction eBay bought PayPal in 2002 for $1.5 billion.
SOLAR CITY
In August 2016, in Musk’s continuing effort to promote and advance sustainable energy and products for a wider consumer base, a $2.6 billion dollar deal was solidified to combine his electric car and solar energy companies.
His Tesla Motors Inc. announced an all-stock deal purchase of SolarCity Corporation a company Musk had helped his cousins start in 2006. He is a majority shareholder in each entity.
“Solar and storage are at their best when they’re combined. As one company, Tesla (storage) and SolarCity (solar) can create fully integrated residential, commercial and grid-scale products that improve the way that energy is generated, stored, and consumed,” read a statement on Tesla’s website about the deal.
SPACE X
Musk was long convinced that for life to survive, humanity has to become a multiplanet species. However, he was dissatisfied with the great expense of rocket launchers.
Musk founded his third company, Space Exploration Technologies Corporation, or SpaceX, in 2002 with the intention of building spacecraft for commercial space travel.
By 2008, SpaceX was well established, and NASA awarded the company the contract to handle cargo transport for the International Space Station with plans for astronaut transport in the future in a move to replace NASA’s own space shuttle missions.
First, two rockets were the Falcon 1 (first launched in 2006) and the larger Falcon 9 (first launched in 2010), which were designed to cost much less than competing rockets.
A third rocket, the Falcon Heavy (first launched in 2018), was designed to carry 1,17,000 pounds (53,000 kg) to orbit, nearly twice as much as its largest competitor, the Boeing Company’s Delta IV Heavy, for one-third the cost.
SpaceX also developed the Dragon spacecraft, which carries supplies to the International Space Station (ISS).
The dragon can carry as many as seven astronauts, and it had a crewed flight carrying astronauts Doug Hurley and Robert Behnken to the ISS in 2020.
Musk sought to reduce the expense of spaceflight by developing a fully reusable rocket that could lift off and return to the pad it launched from.
Beginning in 2012, SpaceX’s Grasshopper rocket made several short flights test such technology. In addition to being CEO of SpaceX, Musk was also a chief designer in building the Falcon rockets, Dragon, and Grasshopper.
TESLA
Elon Musk co-founded Tesla in 2003, he was an early investor of Tesla.
Tesla Inc. is dedicated to producing affordable, mass-market electric cars as well as battery products, and solar roofs.
Elon Musk personally oversees all product development, engineering, and design of all the company’s products.
In February 2004, Musk led the Series A round of investment and joined Tesla’s board of directors as its chairman. He assumed leadership of the company as CEO, and product architect at Tesla Inc. in 2008.
Following the plan, in 2008, Tesla built the Tesla Roadster. The company sold about 2.500 vehicles to 31 countries. which could travel 245 miles (394 km) on a single charge.
Unlike most previous electric vehicles, which Musk thought was stodgy and uninteresting, it was a sports car that could go from 0 to 60 miles (97 km) per hour in less than four seconds.
With a stake in the company taken by Daimler and a strategic partnership with Toyota.
Elon Musk was able to bring in both companies as long-term investors in Tesla— Tesla Inc launched its initial public offering ( IPO) in June 2010, raising $226 million.
Two years later Tesla introduced the Model S sedan, which was acclaimed by automotive critics for its performance and design.
In 2014, Tesla announced that Nevada had been officially selected to build the first Tesla battery Gigafactory.
The company won further praise for its Model X luxury SUV, which went on the market in 2015.
The Model 3, a less-expensive vehicle, went into production in 2017.
In January 2019, Tesla CEO attended the incredible ceremony of the Shanghai Gigafactory. The Shanghai Gigafactory is Tesla’s first large-scale factory outside The United States. Elon Musk’s aim was to build affordable cars for the city.
During the ceremony, Musk revealed new possibilities and strategies for the future of Tesla’s first Chinese manufacturing plant.
Berlin was the city chosen for the first European Gigafactory. Tesla has an assembly facility for the Model S and Model X in The Netherlands. The construction of the Gigafactory 4 began in 2020.
Tesla Model Y production was set to begin in Berlin, Germany by 2021.
But back in years In 2006, Lyndon and Peter Rive –Elon Musk’s cousins– co-founded SolarCity after Musk provided the initial concept for the company and the financial capital.
SolarCity quickly became the second-largest provider of solar power systems in The United States, and this was accomplished in just about six years.
In 2012, Elon Musk made an announcement saying that SolarCity and Tesla Inc. would collaborate. The goal was to use electric vehicle batteries to smooth the impact of rooftop solar panels on the power grid.
THE BORING COMPANY
In January 2017, Musk launched The Boring Company, a company devoted to boring and building tunnels in order to reduce street traffic. He began with a test dig on the SpaceX property in Los Angeles.
In late October of that year, Musk posted the first photo of his company’s progress to his Instagram page. He said the 500-foot tunnel, which would generally run parallel to Interstate 405, would reach a length of two miles in approximately four months.
AI and NEURALINK
Musk has pursued an interest in artificial intelligence, becoming co-chair of the nonprofit OpenAI. The research company launched in late 2015 with the stated mission of advancing digital intelligence to benefit humanity.
In 2017, it was also reported that Musk was backing a venture called Neuralink, which intends to create devices to be implanted in the human brain and help people merge with software. He expanded on the company’s progress during a July 2019 discussion, revealing that its devices will consist of a microscopic chip that connects via Bluetooth to a smartphone.
MUSK ULTIMATE GOAL
Elon Musk’s ultimate goal is to colonize Mars. In 2011, Elon Musk said that he hopes to send humans to Mars within 10 to 20 years. According to Ashlee Vance’s biography, Elon Musk: Tesla, SpaceX, and the Quest for a Fantastic Future, Musk stated that he wants to establish a Mars colony by 2040 with a population of 80,000 humans.
Due to the lack of oxygen in Mars’ atmosphere, all transportation would have to be electric including electric aircraft, electric cars, electric trains, Hyperloop.
In June 2016, Elon Musk said that the first uncrewed flight of the larger Interplanetary Starship was planned for departure to Mars in 2022. The first crewed ITS Mars flight would follow in 2024.
Many surprising announcements and a lot of new innovations every year from Elon musk really going to change the world and lifestyle of humans to the next level.
Also read,
An Entrepreneurial Journey of Jack ma
The Inspirational Story of Alibaba Founder
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