×

A look at new trillionaire Elon Musk’s vast empire

NEW YORK (AP) — Elon Musk, the world’s richest man and now first-ever trillionaire, controls a lot of different businesses.

Here’s a look at Musk’s vast business empire.

SpaceX

Musk is CEO of SpaceX, which he founded in 2002. The company has grown far beyond rockets. It owns satellite communications service Starlink, a big source of cash for the company that generated $4.4 billion in operating income last year. SpaceX also houses social media platform X, formerly known as Twitter, which Musk bought for $44 billion in 2022 and parked it under xAI, the maker of the Grok chatbot.

Both xAI and X are money losers (the AI business lost $6.4 billion in operations last year). Nonetheless, SpaceX — which lost $2.6 billion overall from operations last year — was able to whip up enough market hype to debut with the biggest initial public offering in history on Friday, closing at just below $161 per share, or a total market value of $2.1 trillion.

Tesla

Musk is also CEO of Tesla, a role he has held at the electric car maker since 2008.

Tesla has struggled with rising competition in the EV space. Last year, the company lost its crown as the world’s largest EV maker to China’s BYD. Sales were also bruised during boycotts over Musk’s politics. Those numbers have since rebounded some, but Musk has repeatedly shrugged off troubles — emphasizing that Tesla’s future lies less in car sales than getting people to take rides in them as self-driving taxis.

Beyond the road, Tesla has been upping production of robots for homes and businesses. And it’s also been in the solar energy business for about a decade with it purchase of SolarCity, which was founded by Musk and two of his cousins. Tesla went public in 2010, and went on to join the trillion dollar club on the S&P 500. Its market cap currently stands around $1.5 trillion.

Neuralink

Musk has also the CEO title at Neuralink, a brain-computer interface company he co-founded in 2016.

Neuralink is one of many groups working to connect the human nervous system to machines. It’s launched clinical trials for people who have spinal cord injuries, ALS and other conditions.

Starting at $3.85/week.

Subscribe Today