Elon Musk’s companies (Zip2, Paypal, Tesla, SpaceX, Neuralink…)

Elon Musk's companies (Zip2, Paypal, Tesla, SpaceX, Neuralink...)

Elon Musk’s businesses:

The entrepreneurial adventure of Elon Musk is genius even if it often sows pitfalls and unforeseen events.

Zip2: Elon Musk’s first company

Along with his brother, Kimbal, Elon Musk launched Zip2. A group of Silicon Valley investors helped fund the company, which provided city tour guides to newspapers such as the New York Times and the Chicago Tribune.

During Zip2’s startup, Elon Musk literally lived in his office and showered at a local YMCA. That hard work paid off when Compaq bought out Zip2 for $341 million in cash and stock, which netted Musk $22 million: a more than successful exit for the multi-billionaire.

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Visionary Elon Musk launches Paypal and SpaceX

Musk has created several successful companies since leaving Stanford University in 1997. That year, he started his first company – Zip2. This company, which provided maps and business directories to online newspapers, was acquired by Compaq in 1999. He then created X.com, which eventually merged with PayPal, which went public in 2001, and in 2002 eBay bought the company for $1.5 billion.

In 2002, Elon Musk created SpaceX and since then the aerospace company has reached several milestones over the years. SpaceX became the first company to successfully relaunch and land on the first stage of an orbital rocket in late 2017. In 2020, SpaceX made history on May 30, having carried astronauts into space. of NASA Doug Hurley and Bob Behnken aboard his Crew Dragon spacecraft using a Falcon 9 rocket.

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NeuraLink: Elon Musk’s craziest company

In the near futurethe more concrete but ambitious goal of Neuralink is to develop a system that allows people with paralysis or brain disorders to control smartphone applications or restore their motor function.

Using hundreds of flexible fiber-like neural implants, the company aims to place electrodes in the brain using a surgical robot resembling a sewing machine, which will achieve transfer rates of data much higher than what is currently possible. In addition, the flexibility of polymeric yarns would facilitate the use of soft and ever-changing tissues compared to more rigid interfaces.

So far the system has been tested on rats and monkeys, but Elon Musk and his team say they hope to start implanting human volunteers by the end of 2022.

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Tesla: Elon Musk’s winning investment

In 2004, Elon Musk has invested heavily in You’re herean electric car company, because he believed that electric vehicles were the future of mobility. Two years after introducing its first car, Tesla launched the Model S sedan in 2008, which was praised by automotive critics for its performance and design.. The company finally made him a billionaire at the age of 40 in 2012. Elon Musk, as CEO of Tesla, was embroiled in several controversies that sent shares plummeting.

In 2018, Musk got into trouble after his tweet falsely claimed he had secured funding and was considering taking Tesla private at $420 a share. This resulted in him and Tesla paying a $20 million fine and Musk agreeing to step down as chairman of Tesla’s board of directors. However, despite the controversies, Tesla shares continued to grow, adding to his wealth.

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Elon Musk: What about twitter?

In April 2022, Elon Musk bought a 9.2% stake in Twitter, the social media platform where he has over 80 million followers. The purchase appears to make Mr. Musk Twitter’s largest shareholder, ahead of the 8.8% stake held by mutual fund firm Vanguard and eclipsing the 2.3% stake of Jack Dorsey, the former chief executive. from Twitter.

Musk’s investment in Twitter, which he has accumulated for at least the past month, was worth about $2.89 billion based on the company’s closing stock price on Friday. But by the end of the day on Monday, after news of his takeover sent Twitter’s stock price soaring more than 27%, he was worth around $3.7 billion. The shares represent only a fraction of Mr. Musk’s net worth, which is said to be more than $270 billion.

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However, Elon Musk announced last July that he was terminating the operation because the microblogging site violated several provisions of the merger agreement. Today, Twitter’s board plans to sue Musk to enforce several provisions of the merger agreement.

Twitter Chairman Bret Taylor said on Twitter that the microblogging site is considering legal action against Musk for pulling out of the $44 billion deal. For now, the trial originally scheduled for October, should be postponed to February 2023.

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