From Wikipedia, the free encyclopedia

Elon Musk

Musk at the Royal Society admissions day in London, July 2018
Musk at the Royal Society admissions day in London, July 2018
Born
Elon Reeve Musk

June 28, 1971 (age 47)
Pretoria, Transvaal, South Africa
ResidenceBel Air, Los Angeles, California, United States
Citizenship
  • South Africa (1971–present)
  • Canada (1989–present)
  • United States (2002–present)
Alma mater
Occupation
  • Entrepreneur
  • investor
  • engineer
Years active1995–present
Net worthUS$19.8 Billion (April 2019)
Title
Political partyIndependent
Spouse(s)
Partner(s)
Children6 (1 deceased)
Parent(s)
Relatives
AwardsFellow of the Royal Society
Signature
Elon Musk

Elon Reeve Musk FRS (/ˈlɒn/; born June 28, 1971) is a technology entrepreneur, investor, and engineer. He holds South African, Canadian, and U.S. citizenship and is the founder, CEO, and lead designer of SpaceX; co-founder, CEO, and product architect of Tesla, Inc.; co-founder and CEO of Neuralink; founder of The Boring Company; co-founder and co-chairman of OpenAI; and co-founder of PayPal. In December 2016, he was ranked 21st on the Forbes list of The World's Most Powerful People. As of April 2019, he has a net worth of $22.3 billion and is listed by Forbes as the 40th-richest person in the world.

Born and raised in Pretoria, South Africa, Musk moved to Canada when he was 17 to attend Queen's University. He transferred to the University of Pennsylvania two years later, where he received an economics degree from the Wharton School and a degree in physics from the College of Arts and Sciences. He began a Ph.D. in applied physics and material sciences at Stanford University in 1995 but dropped out after two days to pursue an entrepreneurial career. He subsequently co-founded Zip2, a web software company, which was acquired by Compaq for $340 million in 1999. Musk then founded X.com, an online bank. It merged with Confinity in 2000 and later that year became PayPal, which was bought by eBay for $1.5 billion in October 2002.

In May 2002, Musk founded SpaceX, an aerospace manufacturer and space transport services company, of which he is CEO and lead designer. He helped fund Tesla, Inc., an electric vehicle and solar panel manufacturer, in 2003, and became its CEO and product architect. In 2006, he inspired the creation of SolarCity, a solar energy services company that is now a subsidiary of Tesla, and operates as its chairman. In 2015, Musk co-founded OpenAI, a nonprofit research company that aims to promote friendly artificial intelligence. In July 2016, he co-founded Neuralink, a neurotechnology company focused on developing brain–computer interfaces. In December 2016, Musk founded The Boring Company, an infrastructure and tunnel-construction company.

In addition to his primary business pursuits, Musk has envisioned a high-speed transportation system known as the Hyperloop, and has proposed a vertical take-off and landing supersonic jet electric aircraft with electric fan propulsion, known as the Musk electric jet. Musk has stated that the goals of SpaceX, Tesla, and SolarCity revolve around his vision to change the world and humanity. His goals include reducing global warming through sustainable energy production and consumption, and reducing the risk of human extinction by establishing a human colony on Mars.

Early life

Musk was born on June 28, 1971, in Pretoria, Transvaal, South Africa, the son of Maye Musk (née Haldeman), a model and dietitian from Regina, Saskatchewan, Canada, and Errol Musk, a South African electromechanical engineer, pilot, and sailor. He has a younger brother, Kimbal (born 1972), and a younger sister, Tosca (born 1974). His maternal grandfather, Dr. Joshua Haldeman, was an American-born Canadian. His paternal grandmother was British, and he also has Pennsylvania Dutch ancestry. After his parents divorced in 1980, Musk lived mostly with his father in the suburbs of Pretoria, which Musk chose two years after his parents split up, but now Musk says it was a mistake. As an adult, Musk has severed relations with his father, whom he has referred to as "a terrible human being". He has a half-sister and a half-brother.

During his childhood, Musk was an avid reader. At the age of 10, he developed an interest in computing with the Commodore VIC-20. He taught himself computer programming at the age of 10, and by the age of 12 sold the code of a BASIC-based video game he created called Blastar, to a magazine called PC and Office Technology, for approximately $500. A web version of the game is available online. His childhood reading included Isaac Asimov's Foundation series, from which he drew the lesson that "you should try to take the set of actions that are likely to prolong civilization, minimize the probability of a dark age and reduce the length of a dark age if there is one."

Musk was severely bullied throughout his childhood and was once hospitalized when a group of boys threw him down a flight of stairs and then smashed his head into the pavement until he lost consciousness. He later revealed that he had to get a nose job, to repair the damage.

Musk attended Waterkloof House Preparatory School and Bryanston High School before graduating from Pretoria Boys High School. Although Musk's father insisted that Elon go to college in Pretoria, Musk became determined to move to the United States. As he states, "I remember thinking and seeing that America is where great things are possible, more than any other country in the world." Knowing it would be easy to get to the United States from Canada, he moved to Canada against his father's wishes in June 1989, just before his 18th birthday, after obtaining a Canadian passport through his Canadian-born mother.

Education

At the age of 17, in 1989, Elon Musk moved to Canada to attend Queen's University, avoiding mandatory service in the South African military. He left in 1992 to study business and physics at the University of Pennsylvania, and graduated with an undergraduate degree in economics and stayed for a second bachelor's degree in physics.

After leaving Penn, Elon Musk headed to Stanford University in California to pursue a PhD in energy physics. However, his move coincided with the Internet boom, and he dropped out of Stanford after just two days to become a part of it, launching his first company, Zip2 Corporation.

Career

Zip2

In 1995, Musk and his brother, Kimbal, started Zip2, a web software company, with money raised from a small group of angel investors. The company developed and marketed an Internet city guide for the newspaper publishing industry. Musk obtained contracts with The New York Times and the Chicago Tribune and persuaded the board of directors to abandon plans for a merger with CitySearch. While at Zip2, Musk wanted to become CEO; however, none of the board members would allow it. Compaq acquired Zip2 for US$307 million in cash and US$34 million in stock options in February 1999. Musk received US$22 million for his 7 percent share from the sale.

X.com and PayPal

In March 1999, Musk co-founded X.com, an online financial services and e-mail payment company, with US$10 million from the sale of Zip2. One year later, the company merged with Confinity, which had a money-transfer service called PayPal. The merged company focused on the PayPal service and was renamed PayPal in 2001. PayPal's early growth was driven mainly by a viral marketing campaign where new customers were recruited when they received money through the service. Musk was ousted in October 2000 from his role as CEO (although he remained on the board) due to disagreements with other company leadership, notably over his desire to move PayPal's Unix-based infrastructure to Microsoft Windows. In October 2002, PayPal was acquired by eBay for US$1.5 billion in stock, of which Musk received US$165 million. Before its sale, Musk, who was the company's largest shareholder, owned 11.7% of PayPal's shares.

In July 2017, Musk purchased the domain x.com from PayPal for an undisclosed amount, stating that it has sentimental value to him.

SpaceX

In 2001, Musk conceptualized Mars Oasis, a project to land a miniature experimental greenhouse on Mars, containing food crops growing on Martian regolith, in an attempt to regain public interest in space exploration. In October 2001, Musk travelled to Moscow with Jim Cantrell (an aerospace supplies fixer), and Adeo Ressi (his best friend from college), to buy refurbished Dnepr Intercontinental ballistic missiles (ICBMs) that could send the envisioned payloads into space. The group met with companies such as NPO Lavochkin and Kosmotras; however, according to Cantrell, Musk was seen as a novice and was consequently spat on by one of the Russian chief designers, and the group returned to the United States empty-handed. In February 2002, the group returned to Russia to look for three ICBMs, bringing along Mike Griffin. Griffin had worked for the CIA's venture capital arm, In-Q-Tel, as well as NASA's Jet Propulsion Laboratory, and was just leaving Orbital Sciences, a maker of satellites and spacecraft. The group met again with Kosmotras, and were offered one rocket for US$8 million; however, this was seen by Musk as too expensive; Musk consequently stormed out of the meeting. On the flight back from Moscow, Musk realized that he could start a company that could build the affordable rockets he needed. According to early Tesla and SpaceX investor Steve Jurvetson, Musk calculated that the raw materials for building a rocket actually were only 3 percent of the sales price of a rocket at the time. It was concluded that theoretically, by applying vertical integration and the modular approach from software engineering, SpaceX could cut launch price by a factor of ten and still enjoy a 70-percent gross margin. Ultimately, Musk ended up founding SpaceX with the long-term goal of creating a true spacefaring civilization.