Key facts
- Elon Musk controls a diverse business empire including SpaceX, Tesla, xAI, and Neuralink.
- SpaceX recently debuted with the largest IPO in history, closing at a market value of $2.1 trillion.
- Tesla, facing EV competition, is expanding into robots and solar energy, with a market cap around $1.5 trillion.
- Neuralink is conducting clinical trials for brain-computer interfaces, with 21 participants worldwide.
- The Boring Company is developing underground transportation systems, including the 'Vegas Loop'.
Elon Musk, the world's richest man, oversees a vast and diverse business empire that includes rockets, electric vehicles, artificial intelligence, brain implants, and underground transportation.
SpaceX, founded by Musk in 2002, recently went public, debuting with the largest IPO in history and closing with a market value of $2.1 trillion. The company, which also operates the Starlink satellite communications service, reported $4.4 billion in operating income last year but an overall operational loss of $2.6 billion. SpaceX merged with Musk's AI company, xAI, earlier this year. xAI, known for its Grok chatbot, incurred an operational loss of $6.4 billion last year.
Musk has been CEO of Tesla, the electric car maker, since 2008. Despite facing increased competition in the EV market and losing its top spot to China's BYD, Tesla's market capitalization stands around $1.5 trillion. The company is also expanding into home and business robots and solar energy through its acquisition of SolarCity.
At Neuralink, co-founded by Musk in 2016, the company is developing brain-computer interfaces and has launched clinical trials, with 21 participants worldwide as of January. The Boring Company, founded by Musk a decade ago, focuses on tunnel construction and underground transportation, with projects like the 'Vegas Loop' operational since 2021.
Musk's earlier ventures include Zip2 and PayPal (formerly X.com), which provided the capital for his later endeavors. He also purchased the social media platform X, formerly Twitter, for $44 billion in 2022.