Sunday Jan 29, 2023

Elon Musk’s empire: Tesla, SpaceX and possibly Twitter – Fox Business


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Elon Musk’s empire has been in the spotlight over the years as his fame — and bank account — continue to grow.

From Tesla to Solar City to The Boring Company and his new interest in Twitter, Musk is noted for his ingenuity, expertise and accomplishments. 

For the last 20 years of Musk’s career, he’s watched his net worth and market portfolio grow into the top segment of the financial world, making him the wealthiest person in the world. 


Tesla CEO Elon Musk alongside the electric automaker’s logo. (Getty Images/AP / Getty Images)

In 2004, Musk became a major investor in Tesla Motors, a company started by Martin Eberhard and Marc Tarpenning.


In 2008, Musk was named chief executive of the electric automaker. In this role as CEO, Musk is the head of all engineering, product design and global manufacturing of Tesla’s cars, battery products and solar energy products. Tesla’s mission has been to accelerate the world’s transition to sustainable energy. 

Starting with Tesla’s first electric product, the Roadster sports car, the company has advanced to producing sedans, SUVs and trucks.


Elon Musk, chairman of SolarCity, speaks at SolarCity’s Inside Energy Summit in Manhattan, N.Y., Oct. 2, 2015. (Reuters/Rashid Umar Abbas / Reuters)

The company was founded in 2006 by Musk’s cousins Peter and Lyndon Rive. Tesla acquired SolarCity in 2016 to become the first vertically-integrated sustainable energy company in the world.

SolarCity is known to be the top provider of solar power systems. The Solar Roof was developed in 2017 and was considered an affordable energy generation product. 

SolarCity will create an integrated solar and battery combination that is crucial to provide grid-independent renewable backup power. This will provide an advantage for consumers against changes to net metering in the future. 


Tesla and SpaceX CEO Elon Musk arrives on the red carpet for the Axel Springer media award in Berlin.  (Hannibal Hanschke/Pool Photo via AP, File / AP Newsroom)

As head designer for SpaceX, Musk oversees the manufacturing of spacecraft and rockets to venture into Earth’s orbit and ultimately other planets. Since 2008, SpaceX has been making great strides in the rocket business. In 2008, the Falcon 1 reached orbit as the first privately created liquid fuel rocket.

In 2018, the Falcon Heavy completed its first flight, making it the most powerful operational rocket in the world. Continuing in spacecraft advancement, 2019 saw a demonstration mission with SpaceX’s crew-capable version of the Dragon spacecraft.


Further advancements focus on developing Starship, a reusable transportation system to reach the moon, Mars and beyond.

With the creation of Starlink, high-speed broadband internet service will be delivered to locations that have not yet been attainable or have been expensive and unreliable.

The Boring Company 

The Boring Company  (Robyn beck/AFP via Getty Images / Getty Images)

This company addresses the transportation system to alleviate urban congestion and promote rapid long-distance travel. The Boring Company was developed to improve transportation with affordable tunneling technology along with an all-electric public transportation system. Past projects include a 1.15-mile …….


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