Elon Musk has a brilliant mind that served has him well over the years and has helped him come out and develop some truly world-changing companies, like the publicly traded Tesla Motors Inc (NASDAQ:TSLA) and SolarCity Corp (NASDAQ:SCTY). Mr. Musk demonstrated an ability for business and technology already in childhood; born in 1971, Elon at the age of twelve developed the code for his own video game, which he later sold for profit. At the age of 24, Elon Musk already founded his first business, which he later sold and became a millionaire at the age of 28.
Musk is mostly famous for founding Tesla Motors Inc (NASDAQ:TSLA), a company which he is currently the CEO of. Tesla has succeeded in the industry of electric vehicles, the Model S serving as an EV icon. The company built its first vehicle, the Tesla Roadster, in 2008. After seeing the Roadster’s success, Tesla Motors Inc (NASDAQ:TSLA) created the Model S, which is currently in production and started working on the Model X, a fully electric SUV.
Tesla has perfected the niche of cost-savings and enviro-friendlyness that many companies desire, yet hardly ever reach.
Another Musk-ism that saw the light of the day was SolarCity Corp (NASDAQ:SCTY). Like Tesla Motors Inc (NASDAQ:TSLA), where the CEO founded his company based on his passion for environmental care, SolarCity Corp (NASDAQ:SCTY) was founded to deal with issues related to energy and solar energy, particularly by making it more affordable then most other distribution models on the market. SolarCity Corp (NASDAQ:SCTY) specializes in photovoltaic products for homes and businesses.
In addition to SolarCity Corp (NASDAQ:SCTY) and Tesla, Mr. Musk has successfully completed a bunch of other projects, which he has sold and earned a lot of money; let’s take a look.
Continue reading about Musk’s companies:
Zip2 Corporation
Elon Musk dropped out of college to found his first company, Zip2 Corporation. The company was engaged in developing an online city guide, which provided publishing software for online versions of some newspapers. Four years later, Zip2 was purchased by Compaq, and Musk receiving about $22 million from the deal, became a millionaire at the age of 28.
Paypal
Paypal, currently owned by eBay Inc (NASDAQ:EBAY), is one of the leaders in Internet money transfers. The same year, Zip2 was sold, Musk founded X.com, a company engaged in online banking. A year later, X.com acquired a company called “Confinity”, which was developing an online money-transfer process, Paypal. Musk renamed X.com and Confinity into Paypal and focused on developing the service. eBay Inc (NASDAQ:EBAY) purchased Paypal for $1.5 billion in 2002. After the deal Musk got $165 million in eBay Inc (NASDAQ:EBAY) stock.
Space Exploration Technologies
Space Exploration Technologies is also known as SpaceX. The company is engaged in developing rocket technology and is one of the first private companies to send a rocket into space. The main goal of SpaceX is to develop a technology that will allow people to conquer Mars and establish a settlement on the Red Planet.
