Elon Musk A Great Personality
Elon Musk is an American Entrepreneur, although he is born in South Africa and his early childhood was spent there. He completed his graduation from the University of Pennsylvania in the field of Bachelor of Arts / Science. He has founded many companies and some of those companies are Tesla for which he is co-founder and Chief Executive Officer (CEO) of the company, other than Tesla there is SpaceX for which he is founder, CEO, and Chief Engineer at the company, the founder of The Boring Company and he is also the co-founder of Neuralink and Open AI.
He is currently the 2nd richest person in the world according to Forbes magazine, as his current net worth is 222.4 billion dollars. The billionaire has an official biography of his name which was written by Ashley Vance and the name of the book is “Elon Musk: How The Billionaire CEO of Tesla and SpaceX is Shaping Our Future”.
About Elon Musk
Elon Musk had been a bright child in the school as well. After completing his graduation in the year 1995, he started his own company named Zip2, which provided maps and business directories to online newspapers. The company had been doing well in the market, but the company was sold in the year 1999, to a computer manufacturing company named Compaq for a whopping price of 307 million dollars. Then after quitting this business, he founded another business named X.com which was an online financial services business.
He envisioned the company as a full banking service company and investment services as the company offered many services starting from checking accounts to insurance services, mortgage lending, and bonds. Musk in the starting hired a good team for the business which included John Story who was an investment banker who had joined as Executive Vice President and Bill Harris as the president of the company as he had previous work experience from Intuit Corporation. Musk himself had taken the role of Chairman of the company.
The company had employed 15 staff members and had invested 25 million dollars in the venture capital of the company which had been invested by Musk, Harris, and Sequoia Capital. The company to get new customers had given money, in the beginning, to open an account with them. In March 2000, the company merged with PayPal and had retained the name of X.com. PayPal had been registering a daily count of 15,000 new customers daily. In June, X.com and PayPal extended their services to allow for the payments to be made between the business and consumers which is a B2C business model. The online company was bought by eBay for a deal of 1.5 billion dollars in 2002.
Elon Musk SpaceX Exploration
In the year 2002, Elon Musk decided to launch his own aerospace manufacturing company and the company was called Space Exploration Technologies Corp. (SpaceX). The company was started by Tom Mueller and Elon Musk and the company was launched. After some time in the company, Tom Mueller was promoted as the company’s CTO of the company, Gwynne Shotwell as COO of the company, and Chris Thompson as the VP of operations.
By the November of 2005, the company had 160 employees in the company and all these people were personally interviewed and appointed by Musk himself. The company in the beginning had its headquarters located in a warehouse in El Segundo, California. Now the company had shifted its headquarters in the Los Angeles suburb of Hawthrone, California. The company has its Rocket Development and Test Facility in McGregor, Texas.
The company had developed its first orbital launch vehicle and named it Falcon – 1 with private funding. The total cost of Falcon 1 was development cost of the rocket was around 90 to 100 Million Dollars. The company tried launching three rockets from 2006 to 2008 but the launches were unsuccessful. During the company’s fourth launch attempt, the company got its first successful launch in September 2008.
After launching its first rocket, the company expanded its business operations. The company had got contracts with NASA (National Aeronautics and Space Administration) after its first successful launch. The company launched its first commercial mission for a private customer in the year, 2013. In January 2015 the company had raised, funding of about 1 billion dollars from Google and Fidelity in exchange for an 8.33% stake of the company and taking the valuation of the company around 12 billion dollars.
The company also announced its plans for the development of a new satellite constellation called Starlink, which will provide global broadband service with 4,000 satellites. The company had a big failure after so many successes when in late June 2015, when its rocket Falcon – 9 exploded just after 2 minutes of its launch. Recently the company launched its drone ship named A Shortfall of Gravitas.
Elon Musk Chairman Of Electric Car
The company was founded by a group of engineers who wanted to prove to the world that people don’t need to compromise on using electric vehicles. The company was founded by Martin Eberhard later become CEO and Marc Tarpenning became CFO of the company in the year 2003 and was joined by Elon Musk at the beginning of 2004 who contributed about 30 million dollars in the venture and served as chairman of the company since 2004.
In 2008, the company launched its first car Roadster, which was an electric car and during the tests, on a single charge it traveled around 394 km and could accelerate from 0 to 96 km/hr in less than 4 seconds and the top speed was 200 km/hrs. The company went public in the year 2010, through its initial public offering.
The company’s stock has risen significantly and it became the most valuable carmaker in the summer of 2020 the company entered the S&P 500 market index later in the year 2020. In October 2021, it reached the market capitalization of 1 trillion dollars and become the sixth company to do so in U.S. history.