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What Elon Musk owns: From Teslas and rockets to brain implants
🇷🇸 Serbia /Economy & Trade

What Elon Musk owns: From Teslas and rockets to brain implants

From N1 Serbia · () Serbian

Translated from Serbian, summarized and contextualized by DistantNews.

At a glance

In-depth Sources not specified Context piece
  • Elon Musk, the world's wealthiest individual and now a trillionaire, controls a vast business empire spanning electric vehicles, AI, social media, and rocket production.
  • His companies, including SpaceX, Tesla, and X (formerly Twitter), have diverse operations, with some facing financial losses while others, like SpaceX, have achieved significant market milestones.
  • SpaceX recently debuted on the New York Stock Exchange with the largest IPO in history, reaching a market value of $2.1 trillion, though some analysts believe the valuation is excessive.

Elon Musk, recognized as the world's richest person and now a trillionaire, presides over an extensive and diverse business empire. His ventures encompass electric vehicles, brain-computer interfaces, underground tunnels, the social media platform X (formerly Twitter), and rocket manufacturing, with SpaceX's recent stock market debut marking a significant moment.

Musk consolidates several of his ambitious projects under one umbrella. SpaceX, which he founded in 2002 and now leads as CEO, has expanded beyond rockets to include the satellite communication service Starlink. Starlink generated $4.4 billion in operating income last year. SpaceX also owns X, the social media platform acquired for $44 billion in 2022, and is involved with its AI company xAI, the creator of the chatbot Grok. Both xAI and X are currently losing money, with the AI business reporting a $6.4 billion loss last year.

Despite overall losses for SpaceX totaling $2.6 billion last year, the company successfully launched its initial public offering (IPO) on the New York Stock Exchange, achieving the largest IPO in history. The stock closed just under $161 per share, valuing the company at $2.1 trillion. However, some market observers suggest this valuation significantly overestimates the company's worth.

SpaceX harbors grand ambitions, aiming to lead in artificial intelligence and facilitate multi-planetary human life, with goals ranging from space-based data centers to Mars colonization. Much of this depends on advanced technology and substantial capital investment. Meanwhile, Tesla, where Musk has served as CEO since 2008, faces increasing competition in the electric vehicle market, having lost its position as the world's largest EV producer to China's BYD last year. Tesla's sales were impacted by boycotts related to Musk's policies, though they have since recovered somewhat. Musk has shifted focus, emphasizing Tesla's future potential in autonomous taxi services over traditional car sales. The company is also increasing production of domestic and enterprise robots and operates in the solar energy sector through its acquisition of SolarCity.

DistantNews Editorial

Originally published by N1 Serbia in Serbian. Translated, summarized, and contextualized by our editorial team with added local perspective. Read our editorial standards.

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