Here’s a look at Musk’s vast business empire.
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.
Some think that price tag significantly overvalues the company. SpaceX has promised it will become a leader in AI and one day help make human life multiplanetary — with lofty, and at times sci-fi sounding, goals that range from putting data centers in space to colonizing Mars. But the bulk of that hinges on unproven technology and massive capital needs.
Musk is also CEO of Tesla, a role he has held at the electric car maker since 2008.
Musk has also the CEO title at Neuralink, a brain-computer interface company he co-founded in 2016.
Musk also founded The Boring Company, a decade-old tunnel digging and underground transportation business.
