History of Elon Musk’s Internet Ownership
Elon Musk, the 48 year-old tech mogul and entrepreneur, is perhaps best known for his involvement with Tesla, SpaceX and SolarCity. Musk has also made his mark as an Internet mogul, having an ownership stake in several websites and products. His ownership history has evolved over time, leading to some sites becoming more prominent than others and some ownership stakes changing hands. Here, we look at what internet does Elon Musk own.
X.com
In 1999, Musk was an early contender in the online payment processing space, launching X.com. This brand later evolved into PayPal, when it merged with Confinity, which had a similar payment processing system called ‘PayPal’. Musk was made Chief Executive Officer and owned 11% of the company after the merger. As PayPal grew, Musk eventually sold his stake in 2002 for a reported $165 million.
Zip2
In 1995, Musk and his brother Kimbal started their own business, an online city guide called Zip2. It was a directory service that provided maps, directions, reservations and other related information for local businesses. Zip2 was eventually acquired by Compaq in February 1999, and Musk was an early beneficiary of the acquisition, pocketing a reported $22 million.
Hyperloop
Musk has described Hyperloop as the ‘fifth mode’ of transport – a solar powered transit system that uses air pressure to reduce the travel time between two points. The Hyperloop is still in the developmental stage, but the concept has attracted a great deal of interest due to its potential to reduce travel times between major cities. Musk has indicated that he plans to keep ownership of the Hyperloop concept for himself.
Tesla, SolarCity, and SpaceX
In addition to being a technology mogul, Musk is also a respected scientist, owning several companies that are at the forefront of technological innovation. Tesla, SolarCity and SpaceX are the most prominent ventures and collectively, Musk owns just under half of these companies.
Tesla is a luxury electric car maker and battery storage company, founded by Musk in 2003. SolarCity pioneered solar electricity and provides solar panel installations and other home energy solutions. SpaceX designs, manufactures, and launches advanced rockets and spacecraft, and is leading the charge in private space exploration.
Neuralink and The Boring Company
Musk is also pioneering innovative new technologies with Neuralink, a brain-computer interface firm, and The Boring Company, a tunnel construction enterprise. Neuralink is exploring ways to directly connect brains and computers, with the hope of eventually enabling humans to enhance their cognitive abilities. The Boring Company has developed a transportation system called Loop that promises to reduce traffic congestion. Musk is the sole owner of these two companies.
Iron Man in Real Life
Musk’s technical and engineering prowess, combined with his vision for the future, has earned him the title of ‘Iron Man’ in real life. His ownership of multiple companies has allowed him to further his vision, by making use of cutting-edge technology to revolutionize the way we live and operate. As such, it’s no surprise that Musk continues to have an ownership stake in several tech ventures.
Blockchain Projects
Musk has also been involved with several blockchain projects, such as OpenAI, a cooperative research organization focused on artificial intelligence, and ZED Networks, a blockchain and AI company. He also held an advisory role with the crypto payment processor Bitfury, but his involvement with the company has since been scaled back.
Tesla Autopilot and the Future
Musk is also the driving force behind the Autopilot feature on Tesla vehicles. The Autopilot system is an advanced driver assistance system that uses software and hardware to assist drivers on the road. Musk’s vision for the Autopilot system is to eventually enable a level 5 autonomous driving experience – something that is still a few years away from becoming reality.
Youtube and Instagram
Musk has also been active on social media, having a presence on multiple networks such as YouTube and Instagram. He often uses these platforms to update his followers on his ventures, including Tesla, SpaceX and SolarCity. His presence on these platforms has been a huge factor in his success, allowing him to reach a wider audience and build a reputation as a tech mogul.
User Privacy and Encryption
Musk has been outspoken on user privacy, advocating for strong encryption that would protect users’ data from eavesdroppers. He has also spoken out about the need for regulation on artificial intelligence (AI) to ensure that it is not used for malicious purposes. Lastly, he has also expressed strong opinions on how education must evolve to meet the growing needs of the tech-savvy population.
Space Exploration and Colonization
Musk is an ardent proponent of space exploration and colonization, with his company SpaceX pioneering the development of reusable rockets to reduce the cost of space travel. Musk also founded the Musk Foundation, which is focused on space exploration research, seafloor mapping projects and asteroid mining. He is also actively involved in the Search for Extraterrestrial Intelligence (SETI) program, which seeks to answer whether intelligent life exists outside of our own planet.
Conclusion
Elon Musk’s ownership of several tech companies and his influence on the world of technology, has made him one of the most important figures in the industry. His involvement in tech ventures has propelled him to the level of tech mogul, and he continues to be a driving force in the tech world with his innovative ideas and forward-thinking approach.
