In this post, we will read about Elon Musk’s Top 5 Best Investments. The title of the world’s richest person could change any day—but most recently, the title has been held by Elon Musk, the first person in the world based on corporate share prices. Known for his business acumen, communication style, and role as a smart visionary, Musk is known to be a genius.
Elon Musk, as you know, is the CEO and co-founder of Tesla (TSLA), an electric vehicle company, and the CEO and lead designer of the aerospace company SpaceX. Elon Musk’s wealth is mainly through these companies. But some of his wealth also comes from passive investments. So let’s know which is Elon Musk’s Top 5 Best Investments company that makes a place in the top five.
1. PayPal Company
In 1999, Musk co-founded X.com, online financial services, and email payments company. A year later, X.com merged with Confinity, which was renamed PayPal (PYPL) in 2001.
On October 3, 2002, PayPal was purchased by eBay (EBAY) for $1.5 billion.
At the time of that sale, Musk owned 7,109,989 shares of PayPal (PYPL), making him the largest shareholder with a holding of 11.7%.
Musk no longer has a stake in PayPal (PYPL). He exited his position following the sale of the company and used the proceeds from the sale to fund investments such as SpaceX, Tesla, and SolarCity.
2. SpaceX
In 2002, Elon Musk founded Space Exploration Technologies Corp., which is now commonly known as SpaceX.
The founding mission of the SpaceX company is to revolutionize space technology, whose job includes developing spacecraft that take humans to Mars and other places in the Solar System.
NASA’s joining SpaceX is a big step towards a revolution in space technology. NASA signed a contract with SpaceX in 2006. In 2008, SpaceX launched the Falcon 1, the first private liquid-propellant rocket to reach solar orbit. In 2010, SpaceX’s Dragon spacecraft reached the International Space Station (ISS), which proved to be a huge record. In 2012, NASA awarded SpaceX a second contract to help shuttle crew members between the ISS and Earth.
In 2021, another contract was signed with NASA for $2.9 billion to transport astronauts from the lunar orbit of the Moon to the surface of the Moon with its Starship vehicles. This is one of Elon Musk’s Top 5 Best Investments companies.
3. DeepMind Technologies
Artificial intelligence (AI) company DeepMind Technologies was founded in late 2010, with Elon Musk as one of its major investors. In January 2014, Google announced that it had acquired the company for an undisclosed amount.
Musk is famously concerned about AI overtaking humans and is said to have focused on this company not to make money but to focus on how rapidly the technology behind Musk’s AI is developing. Invested in DeepMind Technologies.
DeepMind has focused most of its research on deep reinforcement learning, which is an AI technology that combines deep learning—which is primarily for pattern recognition—with reinforcement learning. DeepMind developed this type of learning based on reward cues, such as a score in a game, and gave the technology its name in a 2013 white paper.
Although the development of deep reinforcement learning represents a breakthrough in AI, DeepMind has yet to find many successful commercial applications. Google’s parent company Alphabet has implemented the technology internally to reduce the electricity costs associated with cooling Google’s servers at data centers.
4. Tesla Motors
Elon Musk was not the first Tesla founding member, but he did lead an initial round of financing in 2004. In 2008, Musk went from a board member of Tesla to CEO, even while serving as CEO of SpaceX.
On June 28, 2010, Tesla began its initial public offering (IPO) on the Nasdaq, with shares of common stock initially available to the public at $17 per share.
As of March 7, 2022, Tesla shares traded at over $800.
Tesla’s mission is to accelerate sustainable transportation by introducing mass-market electric cars. In November 2017, Tesla announced the manufacture of electric tractor-trailer trucks, which were pre-ordered by large companies such as United Parcel Service (UPS) and PepsiCo.
Tesla’s electric vehicles include the Model X, Model 3, Model S, and high-end Roadster supercars.
As of December 28, 2021, Elon Musk owned 177 million shares of Tesla Company, worth approximately $142.3 billion. Elon Musk remains the largest individual shareholder of the company so far.
5. The Boring Company
In 2017, Musk founded The Boring Company, an infrastructure, and tunnel construction company. The company was founded on the premise that traffic is terrible, but the company’s view was that traveling over land was not necessary – whatever traffic problems could be “solved” by using miles and miles. The ground under the road. The company aims to make production more efficient as well as reduce tunneling costs.
In March 2019, the Las Vegas Convention and Visitors Authority approved a $48.6 million proposal from The Boring Company to build an underground tunnel called the LVCC Loop, which would travel beneath the Las Vegas Convention Center and include three stations and a walkway. There will be a passenger tunnel. In April 2021, The Boring Company officially opened the LVCC loop.
MORE FOR YOU
Also read: Elon Musk offers to buy Twitter again, says report; shares spike 15%
Also Read: What are the top 10 upcoming IPOs in 2022?
