Elon Musk is one of the richest people on Earth. You may be wondering, “What enterprises does Elon Musk control? And what positions does he hold within them?” Soon, we will delve into his significant ventures.
Musk has been an innovator for around 30 years, ever since he launched his inaugural company, Zip2, in 1995. His current business portfolio spans multiple sectors, including space travel, artificial intelligence, and automotive manufacturing.
In 2025, he will embark on a new position in the Trump administration, overseeing the newly established Department of Government Efficiency (DOGE).
What Enterprises Has Elon Musk Established?
Here are the eight principal companies Elon Musk has founded, presented in chronological order.
1. Zip2
His initial private firm, Zip2, functioned as an online business directory that Compaq Computer Corporation acquired in 1999.
2. PayPal
Musk was a co-founder and CEO of the financial firm PayPal in 1999, although he departed in 2000.
3. SpaceX
In 2002, Musk launched SpaceX with the mission of advancing space travel and making it accessible to all. The company is renowned for its reusable rocket technologies, satellite systems (like Starlink), and expeditions to the International Space Station. SpaceX’s ultimate ambition is to establish a colony on Mars.
4. OpenAI
Musk co-founded OpenAI in 2015, aiming to develop artificial intelligence that benefits humanity. Other co-founders of this initiative included Sam Altman, Greg Brockman, Reid Hoffman, Jessica Livingston, Peter Thiel, and several others.
Musk is no longer actively engaged, and the company has produced groundbreaking AI technologies, including the widely used GPT (generative predictive text) systems.
5. Neuralink
Musk co-founded Neuralink in 2016, an AI enterprise dedicated to creating brain-machine interfaces. Its innovations aim to address neurological disorders and ultimately blend human intelligence with AI.
6. The Boring Company
Founded in 2016 as a subsidiary of SpaceX, The Boring Company became an independent entity in 2018. The venture seeks to tackle urban transportation issues via underground tunnels. The term “Boring” refers to the process of tunneling beneath the surface. The company oversees initiatives like the Vegas Loop to alleviate traffic congestion and enhance urban infrastructure.
7. xAI
Musk established xAI in 2023, registering the new AI venture on the same day he established X Corp. The company has launched various Grok AI chatbot models accessible to X Premium subscribers.
What Enterprises Does Elon Musk Control?
Musk does not fully possess any of his six companies, but he is closest to complete ownership of The Boring Company.
1. The Boring Company
Musk owns over 90 percent of The Boring Company. Initial employees received a small equity stake. SpaceX holds a 6 percent interest in return for resources provided to The Boring Company.
2. X Corp.
In 2022, Musk acquired the social media platform Twitter for $44 billion and rebranded it as X under the umbrella of X Corp.
He holds a 79 percent stake in X Corp., and his ownership has initiated changes in platform policies and user engagement.
3. xAI
As per Forbes, Elon Musk is estimated to own approximately 54 percent of xAI.
4. SpaceX
Elon Musk possesses 42 percent of SpaceX’s equity and has 79 percent voting control over the company.
5. Neuralink
Eight individuals—Musk, Max Hodak, Tim Hanson, Tim Gardner, Venessa Tolosa, Ben Rapoport, Paul Merolla, Dongiin Seo, and Philip Sabes—were instrumental in founding Neuralink in 2016, but as of 2022, only Musk and Seo remain. Musk is the principal owner of Neuralink.
6. Tesla, Inc.
Tesla operates as a public company on NASDAQ under the ticker TSLA. As of 2024, Musk is the largest individual shareholder of Tesla, owning around 13 to 15 percent of the stock.
Before Tesla was incorporated, Musk met with the co-founders. The company set out to revolutionize the automotive sector through electric vehicles. A leader in renewable energy technology, Tesla manufactures electric cars and energy storage solutions.
The company is named after Nikola Tesla, a Serbian inventor and engineer celebrated for his contributions to modern alternating current (AC) electricity.
Musk also previously owned SolarCity, originally founded by his cousins. Tesla acquired it in 2016, integrating it into its Tesla Energy operations.
