LOS ANGELES, July 9 — For a man who started with a modest investment in an electric car startup, Elon Musk has built an empire that touches everything from how we pay for things online to how we might one day travel to Mars. But behind the headlines about rocket launches and autonomous driving lies a story of relentless ambition, staggering wealth, and persistent controversy. Musk was born June 28, 1971, in Pretoria, South Africa.
His first major business success came in 1999 when he co-founded PayPal, the online payments company that eBay bought for $1.5 billion in 2002. That sale gave Musk the capital to pursue bolder visions.
The Tesla Story
In 2004, Musk invested $6.5 million in Tesla Inc., then a small electric car company, and became chairman of its board. By 2008, he was CEO, and that same year Tesla launched its first vehicle, the Roadster. The company followed with the Model S in 2012, the Model X in 2015, the Model 3 in 2017, the Model Y in 2020, and the Cybertruck in 2023.
Tesla’s market capitalization hit $1 trillion in October 2021, making it the most valuable automaker in the world. Musk has stated that Tesla plans to produce 20 million vehicles per year by 2030.
The company has also promoted the development of its Full Self-Driving software, though despite its name, the system remains at Level 2 driver assistance, meaning the driver must remain engaged and ready to take control at any moment.
SpaceX and Beyond
Musk founded SpaceX in 2002. In 2020, the company became the first private entity to send astronauts to the International Space Station, a milestone that reshaped the commercial space industry. In October 2022, Musk acquired Twitter for $44 billion, later renaming the platform X.
The purchase has been marked by significant changes to the platform’s policies and workforce. Musk has been a controversial figure, with his statements on social media leading to investigations by the Securities and Exchange Commission and shareholder lawsuits.
In 2018, Musk settled SEC charges of securities fraud after tweeting that he had secured funding to take Tesla private at $420 per share. As part of the settlement, he agreed to step down as Tesla’s chairman for three years.
Wealth and Influence
As of mid-2023, Musk’s net worth was estimated at $180 billion, placing him among the wealthiest people in the world. That wealth, however, has not insulated him from scrutiny. His public statements continue to draw legal and regulatory attention.
What comes next for Musk and his companies remains uncertain. Tesla’s ambitious production targets face questions about demand and competition.
SpaceX continues to push the boundaries of private spaceflight. And X, the platform formerly known as Twitter, struggles to find a stable business model. For investors, regulators, and the millions of people who use his products, the Musk story is far from over.
