Elon Musk

Who Is Elon Musk?

Elon Musk is a South African-born American entrepreneur, inventor, and businessman known for founding multiple high-profile companies including X.com (which later became PayPal) in 1999, SpaceX in 2002, and Tesla Motors in 2003. Musk became a multimillionaire in his late 20s following the sale of his first startup, Zip2, to Compaq Computers. His ventures have revolutionized several industries, ranging from online payments to space exploration, and he has cemented his position as one of the most influential figures in technology and business.

In May 2012, Musk made headlines when SpaceX successfully launched a rocket that delivered the first commercial vehicle to the International Space Station. His acquisition of SolarCity in 2016 further diversified his business portfolio, and in 2021, Musk surpassed Jeff Bezos to become the wealthiest person in the world.

Early Life

Elon Musk was born on June 28, 1971, in Pretoria, South Africa. As a child, Musk was deeply immersed in his daydreams about inventions, prompting concerns from his parents and doctors, who tested his hearing. Musk’s interest in computers blossomed around the time of his parents’ divorce when he was 10. He taught himself how to program and, by the age of 12, sold his first software—a game called Blastar.

Throughout his early years, Musk was known for being introverted and bookish. He was often bullied until his teenage years, when a growth spurt and his training in karate and wrestling enabled him to defend himself.

Family Background

Musk’s mother, Maye Musk, is a Canadian model who became the oldest woman to appear in a CoverGirl campaign. Growing up, Maye supported her family by working multiple jobs. Musk’s father, Errol Musk, is a wealthy South African engineer. Elon spent his early childhood in South Africa alongside his brother, Kimbal, and sister, Tosca, before his parents divorced when he was 10.

Education

At the age of 17, Musk moved to Canada to attend Queen’s University in order to avoid mandatory military service in South Africa. He obtained Canadian citizenship and believed it would provide an easier path to U.S. citizenship. In 1992, Musk transferred to the University of Pennsylvania, where he earned dual degrees—an undergraduate degree in economics and a second bachelor’s degree in physics.

Musk briefly attended Stanford University to pursue a Ph.D. in energy physics, but he left after just two days to seize the opportunities presented by the Internet boom. This decision led to the founding of his first company, Zip2 Corporation, in 1995. Musk became a U.S. citizen in 2002.

Companies

• Zip2 Corporation
  Musk launched Zip2 Corporation in 1995 with his brother Kimbal. The company provided online city guides and quickly expanded to provide content for major newspapers such as The New York Times and the Chicago Tribune. In 1999, Zip2 was sold to Compaq for $307 million in cash and $34 million in stock options.
• PayPal
  With the proceeds from the sale of Zip2, Musk and Kimbal co-founded X.com in 1999, an online payment and financial services company. X.com later became PayPal after a merger. In October 2002, PayPal was acquired by eBay for $1.5 billion in stock. Musk earned his first billion from this transaction, retaining 11 percent of PayPal’s shares.
• SpaceX
  Musk founded Space Exploration Technologies Corporation (SpaceX) in 2002 with the goal of reducing space transportation costs and making space travel more accessible. By 2008, SpaceX had established itself as a key player in the aerospace industry, securing a contract with NASA to transport cargo to the International Space Station. In the future, SpaceX aims to transport astronauts to space, furthering Musk’s vision of commercial space exploration.

Falcon 9 Rockets

On May 22, 2012, Elon Musk and SpaceX made a historic achievement with the launch of the Falcon 9 rocket, carrying an unmanned capsule to the International Space Station (ISS) with 1,000 pounds of supplies for astronauts. This marked the first time a private company had successfully sent a spacecraft to the ISS. Musk described the milestone as akin to “winning the Super Bowl,” reflecting the significance of this moment for SpaceX.

In December 2013, Falcon 9 demonstrated its capabilities by delivering a satellite to geosynchronous transfer orbit, a critical location where satellites synchronize with the Earth’s rotation. Two years later, in February 2015, the Falcon 9 launched the Deep Space Climate Observatory (DSCOVR) satellite, tasked with studying the sun’s extreme emissions, which affect both power grids and communication systems on Earth.

In March 2017, SpaceX reached a milestone with the successful test flight and landing of a Falcon 9 rocket made with reusable components, signaling a new era for more cost-effective space travel. Although a setback occurred in November 2017 with an explosion during the testing of the Block 5 Merlin engine, SpaceX quickly affirmed that it would not impede future plans for Falcon 9 advancements.

February 2018 brought another achievement with the successful test launch of the Falcon Heavy, an upgraded version of the Falcon 9, designed for heavy payloads and deep space missions. The test payload—a cherry-red Tesla Roadster with cameras—captured global attention as it orbited the sun.

The following year, in July 2018, SpaceX successfully landed a new Block 5 Falcon 9 on a drone ship just under 9 minutes after launch, further proving the viability of reusable rocket technology.

BFR Mission to Mars

In September 2017, Musk revealed an updated design for the BFR (Big Falcon Rocket), a 31-engine rocket topped by a spacecraft capable of carrying at least 100 people to Mars. SpaceX aimed to launch the first cargo missions to the Red Planet by 2022, as part of Musk’s larger vision to make interplanetary colonization a reality.

By March 2018, Musk expressed hopes to conduct short test flights of the BFR in the coming year, although he acknowledged previous delays. A month later, it was announced that SpaceX would build a facility at the Port of Los Angeles for the construction and storage of the BFR. The location was strategically chosen, as the massive rocket would need to be transported by barge or ship when complete.

Starlink Internet Satellites

In late March 2018, SpaceX received U.S. government approval to launch a satellite network called Starlink, designed to provide high-speed internet access, particularly to underserved rural areas. The network also aimed to increase competition in regions dominated by a few providers. SpaceX launched the first batch of 60 Starlink satellites in May 2019, with another 60 launched later that year. Despite significant progress, the proliferation of satellites sparked concerns among astronomers about their potential interference with the study of distant celestial bodies.

Tesla Motors

Elon Musk is the co-founder, CEO, and product architect of Tesla Motors, a company founded in 2003 to produce affordable electric vehicles and renewable energy products. Musk oversees the development, engineering, and design of Tesla’s groundbreaking products, including electric cars, batteries, and solar roofs.

Roadster

In March 2008, Tesla introduced the Roadster, a high-performance electric sports car capable of accelerating from 0 to 60 mph in 3.7 seconds and traveling nearly 250 miles per charge. The company attracted attention through strategic partnerships with Daimler and Toyota and went public in June 2010, raising $226 million.

Model S

In 2008, Tesla announced plans for its Model S, a luxury electric sedan designed to compete with the BMW 5 series. The Model S entered production in 2012 with a starting price of $58,570 and a range of 265 miles per charge. It was named Motor Trend’s 2013 Car of the Year.

By April 2017, Tesla surpassed General Motors to become the most valuable U.S. automaker. This milestone helped drive the company’s efforts to scale production and release the more affordable Model 3 later that year. In September 2019, a Model S with a “Plaid powertrain” set a speed record for a four-door sedan at the Laguna Seca Raceway in California.

Starlink Internet Satellites (Continued)

SpaceX continued its progress on Starlink with additional satellite launches, all while balancing the concerns of the astronomical community over light pollution and orbital congestion. Despite these concerns, the potential benefits of global broadband connectivity for underserved regions remain central to SpaceX’s vision for the network.

Tesla Model 3

The Tesla Model 3, officially launched in early 2019, marked a significant milestone for the company, following a series of production delays. Priced initially at $35,000, it was positioned as a more affordable alternative to Tesla’s higher-end Model S and Model X, which start at $69,500. Despite ambitious targets to produce 5,000 Model 3 units per week by December 2017, production challenges caused Elon Musk to push back the deadline multiple times, ultimately targeting March 2018, then June 2018. The delay, though expected by industry experts familiar with Tesla’s production struggles, raised questions about how long investors would remain patient with the process.

Despite these challenges, Musk secured a new compensation package tied to performance milestones, which tied his earnings to Tesla’s growth in valuation in $50 billion increments. By April 2018, it became clear that Tesla would miss its first-quarter production goals, prompting Musk to take drastic measures, including replacing the head of engineering to oversee production efforts personally. He famously stated that he was “back to sleeping at the factory” and was focused on achieving the production targets.

In June 2018, Tesla made significant strides, meeting its target of producing 5,000 Model 3 units per week, alongside additional production of Model S and Model X vehicles. Musk celebrated the achievement in an email to employees, acknowledging the extraordinary efforts of the team. Following this, in February 2019, Musk announced the rollout of the standard Model 3 and a shift to all-online sales, with customers given a seven-day or 1,000-mile window for returns.

Tesla Semi

In November 2017, Tesla unveiled the Tesla Semi, an all-electric heavy-duty truck, alongside a revamped Roadster. Originally expected to enter production in 2019, the Semi boasts an impressive 500-mile range on a single charge and features a battery and motors designed to last up to 1 million miles. However, production delays pushed the truck’s debut further into the future.

Model Y and Roadster

In March 2019, Tesla revealed the Model Y, a compact electric crossover. Customers began receiving deliveries in March 2020, and the Model Y boasts a range of 300 miles and a 0 to 60 mph time of just 3.5 seconds. Tesla also unveiled an updated version of the Roadster, which, set to debut in 2020, is expected to become the fastest production car in history, reaching 0 to 60 mph in just 1.9 seconds.

SolarCity Acquisition

In August 2016, Tesla announced the acquisition of SolarCity, a solar energy company co-founded by Musk’s cousins, in a $2.6 billion all-stock deal. Musk, a majority shareholder in both companies, explained that combining SolarCity’s solar energy expertise with Tesla’s battery storage technology would create integrated solutions for residential, commercial, and grid-scale energy generation and consumption.

The Boring Company

In January 2017, Musk launched The Boring Company, focused on developing underground tunnels to alleviate traffic congestion. The company began with a test tunnel on SpaceX’s property in Los Angeles. In 2019, The Boring Company secured a $48.7 million contract to build an underground transportation system in Las Vegas, known as the “Loop.”

Twitter Acquisition

In October 2022, Musk completed his acquisition of Twitter, becoming CEO of the social media giant. This followed months of back-and-forth negotiations, and the purchase ultimately marked a significant shift in Musk’s professional ventures.

Musk’s Tweet and SEC Investigation

Musk’s tweet on August 7, 2018—”Am considering taking Tesla private at $420. Funding secured”—led to an SEC investigation regarding potential stock manipulation. The tweet caused Tesla’s stock to surge, though Musk later clarified that he had not yet secured funding. In the aftermath, he faced legal action and agreed to pay a $20 million fine, stepping down as Tesla’s chairman for three years as part of a settlement with the SEC.

Innovations and Ventures

Hyperloop

In 2013, Musk introduced the concept of the Hyperloop, a new form of transportation designed to drastically reduce travel time between cities by propelling passengers in pods through low-pressure tubes at speeds of over 700 mph. Though the project has faced skepticism, it has inspired a series of competitions to develop Hyperloop pods, with a top speed of 287 mph achieved by a German engineering team in 2019.

AI and Neuralink

Musk has also shown significant interest in artificial intelligence and its potential applications. In 2015, he co-founded OpenAI, a nonprofit research organization dedicated to ensuring that AI benefits humanity. In 2017, Musk supported the creation of Neuralink, a company focused on developing brain-machine interfaces that could potentially help people merge with software.

High-Speed Train

Musk’s ambitions in transportation extended to a high-speed rail project in Chicago. After Mayor Rahm Emanuel’s request for proposals to build a rail line from O’Hare Airport to downtown Chicago, Musk’s Boring Company entered the competition. Although plans for the Chicago project were delayed, the company continues to focus on its commercial tunnel project in Las Vegas.

Flamethrower

Musk also launched a surprising product through The Boring Company: flamethrowers. Marketed as a novelty item, the company sold 10,000 units within a day, each priced at $500.

Relationship with Donald Trump

Musk’s relationship with President Donald Trump became a topic of public interest after Musk was appointed to Trump’s Strategy and Policy Forum in December 2016. Although Musk occasionally disagreed with the administration’s policies, including its stance on climate change, he defended his role, citing his desire to accelerate sustainable energy initiatives. However, Musk resigned from the advisory roles following the U.S.’s withdrawal from the Paris climate agreement in 2017.

Personal Life

Musk has been married twice, first to Justine Wilson in 2000. The couple had six children, including one who tragically passed away at 10 weeks old. Musk later married actress Talulah Riley twice, with their final divorce occurring in 2016. He also had notable relationships with actress Amber Heard and musician Grimes, with whom he has two children, including one named “X Æ A-Xii.”

Nonprofit Work

Musk has a strong commitment to philanthropy through his Musk Foundation, which focuses on space exploration, renewable energy, and other scientific advancements. In 2019, he pledged $1 million to the #TeamTrees campaign, which aimed to plant 20 million trees by 2020.