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Elon Reeve Musk FRS (born June 28, 1971) is a business tycoon and entrepreneur. He is the co-founder of Neuralink and OpenAI, as well as the founder, CEO, and Chief Engineer of SpaceX. He is also an early stage investor,[note 1] CEO, and Product Architect of Tesla, Inc., and the creator of The Boring Company. Musk is a billionaire and one of the world’s wealthiest individuals. Musk was born in Pretoria, South Africa, to a Canadian mother and a South African father. He attended the University of Pretoria for a short time before going to Canada at the age of 17 to study at Queen’s University. Two years later, he transferred to the University of Pennsylvania and earned bachelor’s degrees in economics and physics. In 1995, he travelled to California to attend Stanford University, but instead chose to pursue a business career, co-founding Zip2 with his brother Kimbal. In 1999, Compaq bought the company for $307 million. Musk co-founded X.com, an online bank, in the same year, which merged with Confinity to become PayPal in 2000. eBay paid $1.5 billion buying the firm in 2002.
With funding from angel investors, Musk, Kimbal, and Greg Kouri launched online software firm Zip2 in 1995. They set their shop in Palo Alto in a modest leased office. For the newspaper publishing business, the business created and sold an Internet city guide featuring maps, directions, and yellow pages. Musk claims that he couldn’t afford an apartment before the firm became profitable, so he rented an office, slept on the sofa, bathed at the YMCA, and shared one computer with his brother. “The website was up during the day and I was coding it at night, seven days a week, all the time,” Musk explained. The Musk brothers were able to secure contracts with The New York Times and the Chicago Tribune, as well as persuade the board of directors to scrap proposals for a merger with CitySearch. Musk’s attempts to succeed Chairman Rich Sorkin as CEO were rejected by the board of directors. Zip2 was purchased by Compaq for $307 million in cash in February 1999. Musk was paid $22 million for his 7% stake. Musk co-founded X.com, a firm that provides online financial services and e-mail payment services, in 1999. The company was one of the first online banks to be federally insured, with over 200,000 clients signing up in the first few months. Musk was replaced by Bill Harris, the CEO of Intuit, at the end of the year when the company’s investors regarded him as inexperienced. To avoid excessive rivalry, X.com merged with online bank Confinity the next year. Confinity, which was founded by Max Levchin and Peter Thiel, had its own money-transfer service, PayPal, that was more popular than X.com’s. Musk was reinstated as CEO of the combined firm. Musk’s preference for Microsoft software over Linux has sparked controversy. In September 2000, the board of directors fired Musk and replaced him with Thiel due to technology problems and a lack of a unified business plan. The firm was renamed PayPal in 2001 as Thiel concentrated on the PayPal service. PayPal was bought by eBay in 2002 for $1.5 billion in shares, with Musk receiving over $100 million as the largest stakeholder (11.7 percent). Musk paid an unknown sum to PayPal in 2017 for the name X.com, claiming it had sentimental significance.
Martin Eberhard and Marc Tarpenning founded Tesla, Inc.—originally Tesla Motors—in July 2003, and funded the firm until the Series A round of investment. Prior to Musk’s participation, both men played key roles in the company’s early growth. In 2004, Musk led the Series A round of funding and became chairman of Tesla’s board of directors. Musk was involved in the firm and oversaw Roadster product design, but he was not involved in the day-to-day operations. Eberhard was fired from the business in 2007 after a series of increasing disagreements and the 2008 financial crisis. In 2008, Musk took over as CEO and product architect of the business. Tesla has also built numerous lithium-ion battery and electric car subassembly plants, including Gigafactory 1 in Nevada and Gigafactory 3 in China, under Musk’s leadership. Tesla stock has increased considerably since its first public offering in 2010, and it became the most valuable manufacturer in summer 2020. Later that year, it was included to the S&P 500. Musk co-founded Neuralink, a neurotechnology firm aimed at integrating AI with the human brain, in 2016. The goal of Neuralink is to build devices that can be implanted in the human brain to help with the brain-machine interface. To keep current, the gadgets will sync with the newest advances in artificial intelligence. Such enhancements might boost memory or make it easier for gadgets to connect with software.
Personal Profile of Elon Musk
- Name: Elon Musk
- Date of Birth: 28 June 1971
- Age: 49 years
- Birth Sign: Cancer
- Nationality: American, Canadian, South African
- Parents: Errol Musk, Maye Musk
- Siblings: Kimbal Musk, Tosca Musk
- Birth Place/City: Pretoria, South Africa
- Profession: Entrepreneur, Business magnate
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