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What Companies Does Elon Musk Own?

Elon Musk is the world’s richest man with a net worth of $202.7 billion as of November 2022. His wealth has grown tremendously from $27.6 billion where his net worth stood in 2020. Elon Musk has invested in multiple giant companies that have led to the sudden rise in his wealth. He had earlier invested in companies like PayPal before he sold it to eBay to go and start SpaceX.

In 2021, Elon Musk became the richest man in the world with a net worth of $174 billion at the time. He was only 49 years old then.

How Many Companies Does Elon Musk Own?

Elon Musk owns 7 companies in different niches. The companies Elon Musk owns are in the Space niche, automobile niche, energy niche, social media, and technology and artificial intelligence niche.

List of Companies Elon Musk Owns

The following are Elon Musk's business names and his shares in them:

1. Tesla

Tesla is one of the most profitable companies Elon Musk owns. Tesla is an electric car manufacturer that is also involved in the sale of solar energy storage products like Solar roofs. In February 2004, Elon Musk became the largest shareholder in Tesla after investing $6.5 million. 

Tesla is worth over $860 billion. Most of Elon Musk’s wealth is wrapped in Tesla shares. Elon Musk owns 155 million shares representing a 15% stake in Tesla. This is a drop after he sold his shares in Tesla worth 33 billion. However, he is still the largest shareholder in Tesla.

Tesla has its headquarters in Austin Texas after relocating from Palo Alto. Tesla has a presence in many countries around the world and employs over 99,000 employees. Elon Musk is the CEO of Tesla.

Solarcity

SolarCity was a publicly traded company that sold solar energy to residential, commercial, and industrial customers. SolarCity was founded in July 2006 by Musk’s cousins Peter and Lyndon Rive. Telsa, one of Elon Musk’s companies acquired SolarCity in 2016 for $2.6 billion. As such, SolarCity is currently owned by Tesla. At the time of sale, SolarCity was worth $2.6 billion. SolarCity currently employs around 12,000 employees.

2. SpaceX

The other of Elon Musk company list is SpaceX. SpaceX is a private company that deals with the design and manufacture of reusable spacecraft that are used to transport cargo, and humans into space. Elon Musk is the CEO of SpaceX which is worth $125 billion.

SpaceX was founded in 2002 by Elon Musk to reduce the cost of transport to space. Elon Musk owns a 44% stake and has 78.4% voting control in the giant aerospace company. Elon Musk is the largest shareholder in SpaceX. SpaceX employs over 12,000 employees.

3. Neuralink

Neuralink is the other company Elon Musk owns. Neuralink is a neural-technology company that aims at developing brain-machine interfaces that can be implanted in the human brain and connect with computers. The computer can then translate a person’s thoughts into action.

Neuralink was founded by Elon Musk, Max Hodax, and Paul Merolla in January 2017. In 2019, Neuralink had received $158 million in funding whereas Elon Musk contributed $100 million. The company had employed 90 employees by 2019. Most of its employees are specialists in neuroscience and chemistry.

Read also: Where do billionaires live in USA?

4. OpenAI

Elon Musk also has a stake in OpenAI. OpenAI is a research and deployment company that aims at ensuring that artificial intelligence benefits all humans. It was founded in December 2015 by Elon Musk, Sam Altman, Ilya Sutskever, Greg Brockman, Wojciech Zaremba and John Schulman. They all collectively pledged $1 billion towards the venture.

Elon Musk left the OpenAI board in February 2018, but he is still instrumental in the company. Sam Altman is the CEO of OpenAI. Microsoft is one of the companies that have invested in OpenAI. OpenAI employs over 120 people.

5. The Boring Company

Elon Musk founded The Boring Company in December 2016. It was formed as a subsidiary of SpaceX before splitting in December 208. The idea behind The Boring Company is to build a tunnel network for high-speed trains as a solution to the traffic problems in major cities.

So far, The Boring Company has successfully completed the Las Vegas project, a 1.7-mile loop that uses Tesla vehicles to shuttle people in the underground tunnel. The project cost $47 million to build the tunnel and two stations.

 As of Dec 2018, Elon musk owned 90% of the equity while the rest was owned by SpaceX. The Boring Company is valued at $5.7 billion.

Also read: Cities with the worst traffic in the world. 

6. Starlink

Starlink is also one of the companies owned by Elon Musk. It is an internet service company operated by SpaceX. Starlink provides satellite internet access to over 40 countries. Starlink was launched in 2019 by SpaceX. It is yet to launch its initial public offering (IPO), but it is worth around $40 billion.

7. Twitter

Elon Musk signed a deal to acquire Twitter for $44 billion in April 2022. But instead, he acquired a 9.2% stake in Twitter in April 2022 and became the second largest shareholder after Morgan Stanley, one of Twitter’s managers. Musk wanted a 100% take over in Twitter, but the board limited his stake in the company to 14.9%.

In July, Elon Musk announced his intention to terminate the deal to acquire Twitter and walk away. Twitter responded by lodging a lawsuit in Delaware to compel Musk to complete the deal. Musk accused Twitter of misleading investors over the number of fake accounts in the social media company.

After a long battle with Twitter Executive, Musk completed Twitter take-over after finalizing the deal on October 27, 2022. Elon Musk became the new Twitter owner. He fired top executives including its CEO Parag Agrawal. Twitter stopped being a publicly traded company the following day.

Summary of Elon Musk Companies List

The above are Elon Musk company names and his stake in them. Prior to owning these companies, Musk co-founded PayPal before selling his shares to eBay in 2002 to go and start SpaceX. Later in 2004, he became one of the early investors in Tesla Motors. Elon Musk has built his fortune by investing in high-net-worth companies.

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