:Business career of Elon Musk
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{{Elon Musk series|expanded=Personal}}
File:Elon Musk, Tesla Factory, Fremont (CA, USA) (8765031426).jpg in 2011]]
Elon Musk is a businessman known predominantly for his leading roles in the automotive company Tesla, Inc. and the space company SpaceX. Musk is also known for his ownership of technology company X Corp. and his role in the founding of the Boring Company, xAI, Neuralink, and OpenAI.
In 1995, Musk, co-founded what would later be known as Zip2, later selling the company to Compaq for $307 million in 1999. Receiving $22 million in the process, Musk used $12 million of the proceedings to co-found the e-payment company X.com that same year. In 2000, X.com merged with the online bank Confinity and was rebranded as PayPal. In 2002, Musk received $176 million after PayPal acquired eBay as the companies largest shareholder, and would much later purchase the X.com domain from PayPal, with the intention of creating an "everything app". In 2004, with an investment of $6.3 million, Musk then became the chairman and majority shareholder of Tesla. In 2016, Musk co-founded the neurotechnology startup company Neuralink, with an investment of $100 million, followed by founding the Boring Company to construct tunnels. In 2022, Musk completed his acquisition of Twitter, becoming the CEO of Twitter, prior to its rebranding to X.
Beginning with his involved with space exploration companies in early 2001, he founded SpaceX in 2002, with the company attempting the first rocket launch in 2006. Since 2019, SpaceX been developing Starship, a reusable, super heavy-lift launch vehicle, and in 2015, they began development of the Starlink for satellite Internet access. Having sent Starlink terminals to Ukraine in 2022, Musk refused to block Russian state media on Starlink and later faced criticism over denying access over Crimea.
With Tesla, he assumed leadership as CEO and product architect in 2008. In 2018, Musk was sued by the SEC for a tweet stating that funding had been secured for potentially taking Tesla private, later settling with the SEC, with Musk steping down as Tesla chairman while remaining its CEO. In 2023, shareholders filed a lawsuit, and a jury subsequently found Musk and Tesla not liable. As of 2019, Musk was the longest-tenured CEO of any automotive manufacturer globally, and under the CEO, Tesla has also constructed multiple lithium-ion battery and electric vehicle factories, named Gigafactories.
Zip2
{{Main|Zip2}}
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In 1995, Elon, his brother Kimbal, and Greg Kouri founded Global Link Information Network, later renamed Zip2.{{cite news|last1=Delevett |first1=Peter |last2=Hull |first2=Dana |title=Greg Kouri, early investor in PayPal, dies in New York |url=https://www.mercurynews.com/2012/08/13/greg-kouri-early-investor-in-paypal-dies-in-new-york-2/ |work=The Mercury News |date=August 13, 2012 |access-date=October 1, 2022|archive-url=https://web.archive.org/web/20221006104534/https://www.mercurynews.com/2012/08/13/greg-kouri-early-investor-in-paypal-dies-in-new-york-2/|archive-date=October 6, 2022|url-status=live}}{{cite news | last1=Huddleston | first1=Tom Jr.|title=How Elon Musk founded Zip2 with his brother Kimbal |url=https://www.cnbc.com/2018/06/19/how-elon-musk-founded-zip2-with-his-brother-kimbal.html |publisher=CNBC| date=June 19, 2018|access-date=October 1, 2022|archive-url=https://web.archive.org/web/20221109004141/https://www.cnbc.com/2018/06/19/how-elon-musk-founded-zip2-with-his-brother-kimbal.html|archive-date=November 9, 2022|url-status=live}} The company developed an Internet city guide with maps, directions, and yellow pages, and marketed it to newspapers.{{cite web |title=Entrepreneur of the Year, 2007: Elon Musk |date=December 1, 2007 |first=Max |last=Chafkin |work=Inc. |url=http://www.inc.com/magazine/20071201/entrepreneur-of-the-year-elon-musk.html |access-date=February 22, 2022|archive-date=December 28, 2007 |archive-url=https://web.archive.org/web/20071228171523/http://www.inc.com/magazine/20071201/entrepreneur-of-the-year-elon-musk.html |url-status=live }} They worked at a small rented office in Palo Alto, with Musk coding the website every night. Musk and his brother's immigration statuses during this period were described by Musk as a "gray area", although Kimbal maintained they were working as illegal immigrants.{{Cite web |last=Novak |first=Matt |date=April 1, 2024 |title=Watch Elon Musk Talk About Being an 'Illegal Immigrant' in Video From 2013 |url=https://gizmodo.com/watch-elon-musk-talk-about-being-illegal-immigrant-1851376973 |access-date=September 29, 2024 |website=Gizmodo |language=en-US |archive-date=September 29, 2024 |archive-url=https://web.archive.org/web/20240929065155/https://gizmodo.com/watch-elon-musk-talk-about-being-illegal-immigrant-1851376973 |url-status=live }}{{Cite web |last=Shoichet |first=Catherine E. |date=September 29, 2024 |title=Elon Musk once described his past immigration status as a 'gray area' |url=https://www.cnn.com/2024/09/29/us/elon-musk-immigration-gray-area-cec |access-date=September 29, 2024 |publisher=CNN |language=en |archive-date=September 29, 2024 |archive-url=https://web.archive.org/web/20240929072201/https://www.cnn.com/2024/09/29/us/elon-musk-immigration-gray-area-cec/ |url-status=live }} A Washington Post exposé from October 2024 reported Musk worked illegally while building the company, citing an email from Musk submitted as evidence during a 2005 defamation trial and the funding agreement from venture capital firm Mohr Davidow Ventures.{{Cite news|url=https://www.washingtonpost.com/business/2024/10/26/elon-musk-immigration-status/|title=Elon Musk, enemy of 'open borders', launched his career working illegally|first1=Maria|last1=Sacchetti|first2=Faiz|last2=Siddiqui|first3=Nick|last3=Miroff|newspaper=The Washington Post|date=October 26, 2024|access-date=October 26, 2024}}
Eventually, Zip2 obtained contracts with The New York Times and the Chicago Tribune.{{cite news|last=Hern|first=Alex|date=February 9, 2018|title=Elon Musk: the real-life Iron Man|url=https://www.theguardian.com/technology/2018/feb/09/elon-musk-the-real-life-iron-man|work=The Guardian|access-date=November 3, 2022|archive-url=https://web.archive.org/web/20220611112311/https://www.theguardian.com/technology/2018/feb/09/elon-musk-the-real-life-iron-man|archive-date=June 11, 2022|url-status=live}} The brothers persuaded the board of directors to abandon a merger with Citysearch;Kidder (2013), pp. 224–228. however, Musk's attempts to become CEO were thwarted.Vance (2017), p. 67. Compaq acquired Zip2 for $307 million in cash in February 1999,Vance (2017), p. 14.{{cite news |url=http://news.cnet.com/Compaq+buys+Zip2/2100-1023_3-221675.html |title=Compaq buys Zip2 |first=Sandeep |last=Junnarkar |publisher=CNET |date=February 16, 1999 |access-date=December 13, 2020 |archive-date=October 21, 2014 |archive-url=https://web.archive.org/web/20141021004422/http://news.cnet.com/Compaq+buys+Zip2/2100-1023_3-221675.html |url-status=live }} and Musk received $22 million for his 7 percent share.Vance (2017), p. 109.
X.com and PayPal
{{Main|X.com (bank)|PayPal}}
In March 1999, Musk co-founded X.com, an online financial services and e-mail payment company with $12 million of the money he made from the Compaq acquisition.Vance (2017), p. 78. X.com was one of the first online banks that was federally insured, and over 200,000 customers joined in its initial months of operation.Vance (2017), p. 84.
Musk's friends expressed skepticism about the naming of the online bank, fearing it might have been mistaken for a pornographic site. Musk brushed off their concerns, emphasizing that the name was meant to be straightforward, memorable, and easy to type. Additionally, he was fond of the email addresses derived from it, such as "e@x.com".{{cite book |last1=Isaacson |first1=Walter |title=Elon Musk by Walter Isaacson |date=2023 |publisher=Simon & Schuster |isbn=978-1-76142-261-4 |page=74}} Although Musk founded the company, investors regarded him as inexperienced and replaced him with Intuit CEO Bill Harris by the end of the year.Vance (2017), p. 86.
In 2000, X.com merged with the online bank Confinity to avoid competition,{{cite news|last=Huddleston |first=Tom Jr.|date=June 19, 2018|title=Elon Musk slept on his office couch and 'showered at the YMCA' while starting his first company|url=https://www.cnbc.com/2018/06/19/how-elon-musk-founded-zip2-with-his-brother-kimbal.html|publisher=CNBC|access-date=September 4, 2020|archive-url=https://web.archive.org/web/20200818205314/https://www.cnbc.com/2018/06/19/how-elon-musk-founded-zip2-with-his-brother-kimbal.html|archive-date=August 18, 2020}}Jackson (2004), pp. 40, 69, 130, 163. as the latter's money-transfer service PayPal was more popular than X.com's service.Vance (2017), pp. 85–86. Musk then returned as CEO of the merged company. His preference for Microsoft over Unix-based software caused a rift among the company's employees, and eventually led Confinity co-founder Peter Thiel to resign.Vance (2017), pp. 85–87. With the company suffering from compounding technological issues and the lack of a cohesive business model, the board ousted Musk and replaced him with Thiel in September 2000.Vance (2017), pp. 87–88.{{efn|Musk remained on the board and served as an advisor.{{cite news |title=The PayPal Mafia |url=http://fortune.com/2007/11/13/paypal-mafia/ |work=Fortune |access-date=July 4, 2015|archive-url=https://web.archive.org/web/20170523114437/http://fortune.com/2007/11/13/paypal-mafia/|archive-date=May 23, 2017}}Vance (2017), p. 89.}} Under Thiel, the company focused on the money-transfer service and was renamed PayPal in 2001.{{Cite news|last=Odell|first=Mark|url=https://www.ft.com/content/86432398-4897-11e4-9d04-00144feab7de|title=Timeline: The rise of PayPal|work=Financial Times|date=September 30, 2014|access-date=April 3, 2020|archive-date=June 22, 2020|archive-url=https://web.archive.org/web/20200622163106/https://www.ft.com/content/86432398-4897-11e4-9d04-00144feab7de|url-status=live}}
In 2002, PayPal was acquired by eBay for $1.5 billion in stock, of which Musk—PayPal's largest shareholder with 11.7% of shares—received $176 million.{{cite web |url=https://www.sec.gov/Archives/edgar/data/1103415/000091205702009834/a2073071z10-k405.htm |publisher=PayPal |title=SEC 10-K |date=December 31, 2001|archive-url=https://web.archive.org/web/20200825231531/https://www.sec.gov/Archives/edgar/data/1103415/000091205702009834/a2073071z10-k405.htm|archive-date=August 25, 2020}}Vance (2017), pp. 116. In 2017, more than 15 years later, Musk purchased the X.com domain from PayPal for its "sentimental value".{{Cite news|url=https://qz.com/1026167/elon-musk-just-bought-x-com-the-domain-he-once-owned-from-paypal/|title=Elon Musk bought a web domain worth millions with 'sentimental value' to him|last=Huang|first=Echo|work=Quartz|access-date=April 3, 2020|archive-url=https://web.archive.org/web/20200625174509/https://qz.com/1026167/elon-musk-just-bought-x-com-the-domain-he-once-owned-from-paypal/|archive-date=June 25, 2020}}{{cite news|last=Statt|first=Nick|date=July 10, 2017|title=Elon Musk now owns X.com, the defunct domain of his second startup|url=https://www.theverge.com/2017/7/10/15949862/elon-musk-x-com-paypal-tesla-spacex-domain-name|work=The Verge | access-date=September 3, 2020|archive-url=https://web.archive.org/web/20200625193958/https://www.theverge.com/2017/7/10/15949862/elon-musk-x-com-paypal-tesla-spacex-domain-name|archive-date=June 25, 2020}} In 2022, Musk discussed a goal of creating "X, the everything app".{{cite news|last=Kleinman|first=Zoe|date=October 5, 2022|title=Elon Musk, Twitter and the mysterious X app|url=https://www.bbc.com/news/technology-63141272|publisher=BBC News |access-date=October 27, 2022|archive-url=https://web.archive.org/web/20221021182811/https://www.bbc.com/news/technology-63141272|archive-date=October 21, 2022|url-status=live}}
SpaceX
{{Main|SpaceX}}
File: SpaceX CEO Elon Musk visits N&NC and AFSPC (190416-F-ZZ999-006) (cropped).jpg capabilities to leaders of North American Aerospace Defense Command, U.S. Northern Command, and Air Force Space Command in 2019 during a trip to Colorado Springs, Colorado.]]
In early 2001, Musk became involved with the nonprofit Mars Society and discussed funding plans to place a growth-chamber for plants on Mars.Vance (2017), pp. 99, 102–103. In October of the same year, he traveled to Moscow, Russia with Jim Cantrell, Adeo Ressi, and future Administrator of NASA, Michael D. Griffin{{cite web|author=Kenneth Chang|title=Entrepreneur Tries His Midas Touch in Space, New York Times|website=The New York Times |url=https://www.nytimes.com/2020/05/30/science/spacex-nasa-astronauts.html|date=May 30, 2020|archive-url=https://archive.today/20200602022132/https://www.nytimes.com/2020/05/30/science/spacex-nasa-astronauts.html|archive-date=June 2, 2020}} to buy refurbished intercontinental ballistic missiles (ICBMs) that could send the greenhouse payloads into space. He met with the companies Lavochkin and ISC Kosmotras; however, Musk was seen as a novice and the group returned to the United States without an agreement to purchase Russian launch services. In February 2002, the group returned to Russia to look for three ICBMs. They had another meeting with ISC Kosmotras and were offered one rocket for $8 million, which Musk rejected. He instead decided to start a company that could build affordable rockets.{{Cite news |url=https://www.bloomberg.com/graphics/2015-elon-musk-spacex/ |title=Elon Musk's space dream almost killed Tesla |date=May 14, 2015 |access-date=June 7, 2015 |publisher=Bloomberg L.P.|last=Vance |first=Ashlee |archive-date=February 23, 2017 |archive-url=https://web.archive.org/web/20170223011256/https://www.bloomberg.com/graphics/2015-elon-musk-spacex/ |url-status=live }} With $100 million of his own money,{{cite news |url=https://www.nytimes.com/2006/02/05/business/yourmoney/05rocket.html |title=A Bold Plan to Go Where Men Have Gone Before |date=February 5, 2006 |first=Leslie |last=Wayne |work=The New York Times| access-date=February 16, 2015|archive-url=https://web.archive.org/web/20200412130718/https://www.nytimes.com/2006/02/05/business/yourmoney/a-bold-plan-to-go-where-men-have-gone-before.html|archive-date=April 12, 2020}} Musk founded SpaceX in May 2002 and became the company's CEO and chief engineer.{{citation |title=California Business Search (C2414622 – Space Exploration Technologies Corp) |url=https://businesssearch.sos.ca.gov/ |access-date=December 13, 2020 |archive-date=February 23, 2018 |archive-url=https://web.archive.org/web/20180223134214/https://businesssearch.sos.ca.gov/ |url-status=live }}{{cite news |last1=Koren |first1=Marina |title=Elon Musk Is Maybe, Actually, Strangely, Going to Do This Mars Thing |url=https://www.theatlantic.com/science/archive/2021/05/elon-musk-spacex-starship-launch/618781/ |work=The Atlantic |date=May 6, 2021 |access-date=June 8, 2022 |archive-date=May 31, 2022 |archive-url=https://web.archive.org/web/20220531065250/https://www.theatlantic.com/science/archive/2021/05/elon-musk-spacex-starship-launch/618781/ |url-status=live }}
SpaceX attempted its first launch of the Falcon 1 rocket in 2006.{{sfnp|Berger|2021|pages=178–182}} Although the rocket failed to reach Earth orbit, it was awarded a Commercial Orbital Transportation Services program contract from NASA, now led by Griffin as Administrator.{{cite web|first=Tariq|last=Malik|title=Griffin Reiterates NASA's Commitment to Commercial Cargo, Space News|url=https://spacenews.com/griffin-reiterates-commitment-commercial-services/|date=November 21, 2005|access-date=October 29, 2022|archive-date=June 19, 2022|archive-url=https://web.archive.org/web/20220619022231/https://spacenews.com/griffin-reiterates-commitment-commercial-services/|url-status=live}}{{cite press release |last1=Dunbar |first1=Brian |title=NASA Invests in Private Sector Space Flight with SpaceX, Rocketplane-Kistler |publisher=NASA |url=https://www.nasa.gov/exploration/news/COTS_selection.html |access-date=December 2, 2021 |url-status=live |archive-date=September 8, 2021 |archive-url=https://web.archive.org/web/20210908075306/https://www.nasa.gov/exploration/news/COTS_selection.html}} After two more failed attempts that nearly caused Musk and his companies to go bankrupt,{{sfnp|Berger|2021|pages=178–182}} SpaceX succeeded in launching the Falcon 1 into orbit in 2008.{{cite news|last=Ledur|first=Júlia|date=May 1, 2019|title=Falcon Flights|url=https://graphics.reuters.com/SPACE-EXPLORATION-SPACEX/010091Q82NF/index.html|publisher=Reuters|access-date=February 10, 2021|archive-url=https://web.archive.org/web/20210210212334/https://graphics.reuters.com/SPACE-EXPLORATION-SPACEX/010091Q82NF/index.html|archive-date=February 10, 2021|url-status=live}} Later that year, SpaceX received a $1.6 billion Commercial Resupply Services contract from NASA for 12 flights of its Falcon 9 rocket and Dragon spacecraft to the International Space Station (ISS), replacing the Space Shuttle after its 2011 retirement.{{cite news|last=Chang|first=Kenneth|date=May 22, 2012|title=Big Day for a Space Entrepreneur Promising More|url=https://www.nytimes.com/2012/05/23/science/space/spacexs-private-cargo-rocket-heads-to-space-station.html|work=The New York Times| access-date=January 11, 2021|archive-date=July 1, 2017|archive-url=https://web.archive.org/web/20170701083413/http://www.nytimes.com/2012/05/23/science/space/spacexs-private-cargo-rocket-heads-to-space-station.html|url-status=live}} In 2012, the Dragon vehicle docked with the ISS, a first for a commercial spacecraft.{{cite news|last=Harwood|first=William|title=SpaceX Dragon returns to Earth, ends historic trip|url=https://www.cbsnews.com/news/spacex-dragon-returns-to-earth-ends-historic-trip/|publisher=CBS News|access-date=August 3, 2013|date=May 31, 2012|url-status=live|archive-url=https://web.archive.org/web/20160422175931/http://www.cbsnews.com/news/spacex-dragon-returns-to-earth-ends-historic-trip/|archive-date=April 22, 2016}}
File:Elon Musk overlooking the remains of F9R (36411051713).jpg debris in 2014|left]]
Working towards its goal of reusable rockets, in 2015 SpaceX successfully landed the first stage of a Falcon 9 on a land platform.{{Cite news |url=https://www.bbc.co.uk/news/science-environment-35157782 |title=SpaceX rocket in historic upright landing |publisher=BBC News| date=December 22, 2015 |access-date=June 30, 2016 |archive-date=August 31, 2019 |archive-url=https://web.archive.org/web/20190831131922/https://www.bbc.co.uk/news/science-environment-35157782 |url-status=live }} Later landings were achieved on autonomous spaceport drone ships, an ocean-based recovery platform.{{Cite news|first=Sean|last=O'Kane|url=https://www.theverge.com/2016/5/27/11787532/spacex-falcon-9-rocket-landing-success-sea-drone-ship|title=SpaceX successfully lands a Falcon 9 rocket at sea for the third time|work=The Verge|date=May 27, 2016|access-date=June 30, 2016|archive-date=June 27, 2016|archive-url=https://web.archive.org/web/20160627232003/http://www.theverge.com/2016/5/27/11787532/spacex-falcon-9-rocket-landing-success-sea-drone-ship|url-status=live}} In 2018, SpaceX launched the Falcon Heavy; the inaugural mission carried Musk's personal Tesla Roadster as a dummy payload.{{cite news|last=Drake|first=Nadia|author-link=Nadia Drake|date=February 25, 2018|title=Elon Musk's Tesla in Space Could Crash into Earth|url=https://www.nationalgeographic.com/news/2018/02/spacex-falcon-heavy-tesla-roadster-orbit-earth-sun-space/|work=National Geographic|access-date=February 10, 2021|archive-date=February 10, 2021|archive-url=https://web.archive.org/web/20210210212336/https://www.nationalgeographic.com/news/2018/02/spacex-falcon-heavy-tesla-roadster-orbit-earth-sun-space/}}{{cite news|last=Chow|first=Denise|date=November 6, 2019|title='Starman' and the Tesla Roadster that SpaceX launched into orbit have now cruised beyond Mars|url=https://www.nbcnews.com/mach/science/starman-tesla-roadster-spacex-launched-orbit-have-now-cruised-beyond-ncna931731|publisher=NBC News| access-date=February 10, 2021|archive-date=February 10, 2021|archive-url=https://web.archive.org/web/20210210212335/https://www.nbcnews.com/mach/science/starman-tesla-roadster-spacex-launched-orbit-have-now-cruised-beyond-ncna931731|url-status=live}}
Since 2019,{{cite web |last=Berger |first=Eric |date=August 28, 2019 |title=Starhopper aces test, sets up full-scale prototype flights this year |url=https://arstechnica.com/science/2019/08/starhopper-aces-test-sets-up-full-scale-prototype-flights-this-year/ |url-status=live |archive-url=https://web.archive.org/web/20210121210349/https://arstechnica.com/science/2019/08/starhopper-aces-test-sets-up-full-scale-prototype-flights-this-year/ |archive-date=January 21, 2021 |access-date=December 15, 2021 |work=Ars Technica}} SpaceX has been developing Starship, a reusable, super heavy-lift launch vehicle intended to replace the Falcon 9 and the Falcon Heavy.{{cite news |last=Roulette |first=Joey |date=March 28, 2022 |title=SpaceX ending production of flagship crew capsule |url=https://www.reuters.com/lifestyle/science/exclusive-spacex-ending-production-flagship-crew-capsule-executive-2022-03-28/ |archive-url=https://web.archive.org/web/20220329180139/https://www.reuters.com/lifestyle/science/exclusive-spacex-ending-production-flagship-crew-capsule-executive-2022-03-28/ |archive-date=March 29, 2022 |access-date=March 31, 2022 |publisher=Reuters}} In 2020, SpaceX launched its first crewed flight, the Demo-2, becoming the first private company to place astronauts into orbit and dock a crewed spacecraft with the ISS.{{Cite news|title=SpaceX and NASA launch Crew Dragon in Florida: Live updates|url=https://www.cnn.com/business/live-news/spacex-launch-today-may-30/index.html|last=Wattles|first=Jackie|date=May 30, 2020|publisher=CNN | access-date=May 30, 2020|archive-url=https://web.archive.org/web/20200829112802/https://www.cnn.com/business/live-news/spacex-launch-today-may-30/index.html|archive-date=August 29, 2020}} In 2024, NASA awarded SpaceX an $843 million contract to deorbit the ISS at the end of its lifespan.{{cite web | url=https://apnews.com/article/nasa-spacex-contract-international-space-station-339c0b8313073fdf4d9fe22056f3d51c | title=NASA taps Elon Musk's SpaceX to bring International Space Station out of orbit in a few more years | publisher=Associated Press | date=June 26, 2024 | access-date=November 19, 2024 | archive-date=November 13, 2024 | archive-url=https://web.archive.org/web/20241113072918/https://apnews.com/article/nasa-spacex-contract-international-space-station-339c0b8313073fdf4d9fe22056f3d51c | url-status=live }}
=Starlink=
{{Main|Starlink}}
{{See also|Starlink in the Russo-Ukrainian War}}
File:Starlink Mission (47926144123).jpg
In 2015, SpaceX began development of the Starlink constellation of low Earth orbit satellites to provide satellite Internet access,{{cite news|last1=Johnson|first1=Eric M.|last2=Roulette|first2=Joey|date=October 31, 2018|title=Musk shakes up SpaceX in race to make satellite launch window: sources|url=https://www.reuters.com/article/us-spacex-starlink-insight/musk-shakes-up-spacex-in-race-to-make-satellite-launch-window-sources-idUSKCN1N50FC|publisher=Reuters | access-date=March 28, 2021|archive-date=May 18, 2020|archive-url=https://web.archive.org/web/20200518170500/https://www.reuters.com/article/us-spacex-starlink-insight/musk-shakes-up-spacex-in-race-to-make-satellite-launch-window-sources-idUSKCN1N50FC|url-status=live}} with the first two prototype satellites launched in February 2018. A second set of test satellites, and the first large deployment of a piece of the constellation, occurred in May 2019, when the first 60 operational satellites were launched.{{cite news|last=Hall|first=Shannon|title=After SpaceX Starlink Launch, a Fear of Satellites That Outnumber All Visible Stars – Images of the Starlink constellation in orbit have rattled astronomers around the world|url=https://www.nytimes.com/2019/06/01/science/starlink-spacex-astronomers.html|date=June 1, 2019|work=The New York Times| access-date=June 1, 2019|archive-url=https://web.archive.org/web/20200821011421/https://www.nytimes.com/2019/06/01/science/starlink-spacex-astronomers.html|archive-date=August 21, 2020}} The total cost of the decade-long project to design, build, and deploy the constellation was estimated by SpaceX in 2020 to be $10 billion.{{cite news|last1=Shepardson|first1=David|last2=Roulette|first2=Joey|date=July 30, 2020|title=Taking on SpaceX, Amazon to invest $10 billion in satellite broadband plan|url=https://www.reuters.com/article/us-usa-amazon-broadband/taking-on-spacex-amazon-to-invest-10-billion-in-satellite-broadband-plan-idUSKCN24V3F2|publisher=Reuters| access-date=January 12, 2021|archive-url=https://web.archive.org/web/20210107200559/https://www.reuters.com/article/us-usa-amazon-broadband/taking-on-spacex-amazon-to-invest-10-billion-in-satellite-broadband-plan-idUSKCN24V3F2|archive-date=January 7, 2021|url-status=live}}{{efn|SpaceX received nearly $900 million in Federal Communications Commission subsidies for Starlink.{{cite news|last=Sheetz|first=Michael|date=December 7, 2020|title=SpaceX's Starlink wins nearly $900 million in FCC subsidies to bring internet to rural areas|url=https://www.cnbc.com/2020/12/07/spacex-starlink-wins-nearly-900-million-in-fcc-subsidies-auction.html|publisher=CNBC| access-date=January 12, 2021|archive-url=https://web.archive.org/web/20201216185501/https://www.cnbc.com/2020/12/07/spacex-starlink-wins-nearly-900-million-in-fcc-subsidies-auction.html|archive-date=December 16, 2020|url-status=live}}{{cite news|last=Wattles|first=Jackie|date=December 8, 2020|title=SpaceX gets almost $900 million in federal subsidies to deliver broadband to rural America|url=https://www.cnn.com/2020/12/08/tech/spacex-starlink-subsidies-fcc-scn/index.html|publisher=CNN | access-date=January 12, 2021|archive-url=https://web.archive.org/web/20201218204918/https://edition.cnn.com/2020/12/08/tech/spacex-starlink-subsidies-fcc-scn/index.html|archive-date=December 18, 2020|url-status=live}}}} Some critics, including the International Astronomical Union, have alleged that Starlink blocks the view of the sky and poses a collision threat to spacecraft.{{cite news|last=Griffin|first=Andrew|title=Elon Musk rejects criticism that his satellite fleet is dangerous|work=The Independent|date=December 30, 2021|url=https://www.independent.co.uk/life-style/gadgets-and-tech/elon-musk-spacex-starlink-nasa-b1984423.html|access-date=December 31, 2021|archive-date=December 30, 2021|archive-url=https://web.archive.org/web/20211230210301/https://www.independent.co.uk/life-style/gadgets-and-tech/elon-musk-spacex-starlink-nasa-b1984423.html|url-status=live}}{{cite news|title=Elon Musk rejects claims that his satellites are hogging space|publisher=BBC News|date=December 30, 2021| url=https://www.bbc.com/news/business-59824404|access-date=December 31, 2021|archive-date=December 31, 2021|archive-url=https://web.archive.org/web/20211231031521/https://www.bbc.com/news/business-59824404|url-status=live}}{{cite news|last=Smith|first=Adam|date=February 7, 2021|title=Astronomers create new global force to stop Elon Musk's internet satellites hiding killer asteroids|url=https://www.independent.co.uk/space/astronomers-elon-musk-satellites-asteroids-b2009163.html|work=The Independent|access-date=June 30, 2022|archive-date=May 27, 2022|archive-url=https://web.archive.org/web/20220527013943/https://www.independent.co.uk/space/astronomers-elon-musk-satellites-asteroids-b2009163.html|url-status=live}}
During the Russian invasion of Ukraine, Musk sent Starlink terminals to Ukraine to provide Internet access and communication.{{Cite news |last=Sheetz |first=Michael |date=March 22, 2022 |title=Elon Musk's SpaceX sent thousands of Starlink satellite internet dishes to Ukraine, company's president says |url=https://www.cnbc.com/2022/03/22/elon-musk-spacex-thousands-of-starlink-satellite-dishes-sent-to-ukraine.html |url-status=live |archive-url=https://web.archive.org/web/20220327034400/https://www.cnbc.com/2022/03/22/elon-musk-spacex-thousands-of-starlink-satellite-dishes-sent-to-ukraine.html |archive-date=March 27, 2022 |access-date=March 28, 2022 |publisher=CNBC}} In October 2022, Musk stated that about 20,000 satellite terminals had been donated to Ukraine, together with free data transfer subscriptions, which cost SpaceX $80 million. After asking the United States Department of Defense to pay for further units and future subscriptions on behalf of Ukraine,{{Cite news|last=Marquardt|first=Alex|url=https://edition.cnn.com/2022/10/13/politics/elon-musk-spacex-starlink-ukraine/|title=Exclusive: Musk's SpaceX says it can no longer pay for critical satellite services in Ukraine, asks Pentagon to pick up the tab|date=October 13, 2022|publisher=CNN|access-date=October 27, 2022|archive-url=https://web.archive.org/web/20221024113222/https://edition.cnn.com/2022/10/13/politics/elon-musk-spacex-starlink-ukraine|archive-date=October 24, 2022|url-status=live}} Musk publicly stated that SpaceX would continue to provide Starlink to Ukraine for free, at a yearly cost to itself of $400 million.{{Cite news|last=Capoot|first=Ashley|url=https://www.cnbc.com/2022/10/15/elon-musk-tweets-on-starlink-well-just-keep-funding-ukraine-govt-for-free.html | title='The hell with it': Elon Musk tweets SpaceX will 'keep funding Ukraine govt for free' amid Starlink controversy | date=October 15, 2022|publisher=CNBC|access-date=October 27, 2022|archive-url=https://web.archive.org/web/20221103145419/https://www.cnbc.com/2022/10/15/elon-musk-tweets-on-starlink-well-just-keep-funding-ukraine-govt-for-free.html|archive-date=November 3, 2022|url-status=live}}{{cite news|last=Hern|first=Alex | url=https://www.bbc.com/news/world-us-canada-63266142 | title=Musk says SpaceX will keep funding Ukraine Starlink internet | publisher=BBC News| date=October 15, 2022 |access-date=October 27, 2022|archive-url=https://web.archive.org/web/20221205043912/https://www.bbc.com/news/world-us-canada-63266142|archive-date=December 5, 2022|url-status=live}}{{cite news| url=https://www.theguardian.com/world/2022/oct/15/the-hell-with-it-elon-musk-says-spacex-will-fund-starlink-internet-in-ukraine | title=Elon Musk says SpaceX will keep funding Starlink internet in Ukraine |work=The Guardian| date=October 16, 2022 |access-date=October 27, 2022|archive-url=https://web.archive.org/web/20221024192858/https://www.theguardian.com/world/2022/oct/15/the-hell-with-it-elon-musk-says-spacex-will-fund-starlink-internet-in-ukraine|archive-date=October 24, 2022|url-status=live}} At the same time, Musk refused to block Russian state media on Starlink, declaring himself "a free speech absolutist".{{Cite news |date=March 6, 2022 |title=SpaceX's Musk says Starlink has been told by some governments to block Russian news |publisher=Reuters |url=https://www.reuters.com/business/media-telecom/spacexs-musk-says-starlink-has-been-told-by-some-governments-block-russian-news-2022-03-05/ |url-status=live |access-date=April 5, 2022 |archive-url=https://web.archive.org/web/20220404103321/https://www.reuters.com/business/media-telecom/spacexs-musk-says-starlink-has-been-told-by-some-governments-block-russian-news-2022-03-05/ |archive-date=April 4, 2022}}{{Cite news |last=Porter |first=Jon |date=April 4, 2022 |title=Elon Musk buys 9.2 percent of Twitter amid complaints about free speech |work=The Verge |url=https://www.theverge.com/2022/4/4/23009622/elon-musk-twitter-shares-free-speech |url-status=live |access-date=April 5, 2022 |archive-url=https://web.archive.org/web/20220404232458/https://www.theverge.com/2022/4/4/23009622/elon-musk-twitter-shares-free-speech |archive-date=April 4, 2022}}
In September 2023, Ukraine asked for the activation of Starlink satellites over Crimea to attack Russian naval vessels located at the port Sevastopol; Musk denied the request, citing concerns that Russia would respond with a nuclear attack.{{cite web | last=Copp | first=Tara | title=Elon Musk's refusal to have Starlink support Ukraine attack in Crimea raises questions for Pentagon | publisher=Associated Press | date=September 11, 2023 | url=https://apnews.com/article/spacex-ukraine-starlink-russia-air-force-fde93d9a69d7dbd1326022ecfdbc53c2 | access-date=February 29, 2024 | archive-date=February 29, 2024 | archive-url=https://web.archive.org/web/20240229193731/https://apnews.com/article/spacex-ukraine-starlink-russia-air-force-fde93d9a69d7dbd1326022ecfdbc53c2 | url-status=live }}{{Cite web |date=September 8, 2023 |title=Elon Musk sabotaged Ukrainian attack on Russian fleet in Crimea by turning off Starlink, new book says |url=https://www.politico.eu/article/elon-musk-ukraine-starlink-russia-crimea-war-drone-submarine-attack-sabotage/ |access-date=April 16, 2024 |website=Politico |language=en-GB |archive-date=February 5, 2024 |archive-url=https://web.archive.org/web/20240205192858/https://www.politico.eu/article/elon-musk-ukraine-starlink-russia-crimea-war-drone-submarine-attack-sabotage/ |url-status=live }}{{Cite web |last=Platt |first=Kevin Holden |title=Space Experts Debate How To De-Escalate Russian Threats Of Orbital War |url=https://www.forbes.com/sites/kevinholdenplatt/2024/04/16/space-experts-debate-how-to-de-escalate-russian-threats-of-orbital-war/ |access-date=April 16, 2024 |website=Forbes |language=en |archive-date=April 16, 2024 |archive-url=https://web.archive.org/web/20240416234159/https://www.forbes.com/sites/kevinholdenplatt/2024/04/16/space-experts-debate-how-to-de-escalate-russian-threats-of-orbital-war/ |url-status=live }}
Tesla
{{Main|Tesla, Inc.}}
Tesla, Inc., originally Tesla Motors, was incorporated in July 2003 by Martin Eberhard and Marc Tarpenning. Both men played active roles in the company's early development prior to Musk's involvement.{{cite news |last=Reed |first=Eric |title=History of Tesla: Timeline and Facts |url=https://www.thestreet.com/technology/history-of-tesla-15088992 |work=TheStreet |date=February 4, 2020 |access-date=January 10, 2023 |archive-date=December 20, 2021 |archive-url=https://web.archive.org/web/20211220161321/https://www.thestreet.com/technology/history-of-tesla-15088992 |url-status=live }} Musk led the Series A round of investment in February 2004; he invested $6.35 million, became the majority shareholder, and joined Tesla's board of directors as chairman.Vance (2017), pp. 153–154.{{Cite web |date=July 28, 2009 |title=Electric vehicle pioneer hits more bumps |url=https://www.nbcnews.com/id/wbna32188170 |access-date=June 16, 2024 |publisher=NBC News |language=en}} Musk took an active role within the company and oversaw Roadster product design, but was not deeply involved in day-to-day business operations.Vance (2017), p. 159.
File:Elon Musk at the Tesla Annual Shareholder Meeting today (14155033430).jpg at the 2014 Tesla Inc. annual shareholder meeting]]
Following a series of escalating conflicts in 2007, and the financial crisis, Eberhard was ousted from the firm.{{Cite book |last=Schilling |first=Melissa |title=Quirky: The remarkable story of the traits, foibles, and genius of breakthrough innovators who changed the world |publisher=PublicAffairs |year=2018 |isbn=978-1-61039-792-6}}{{Page needed|date=September 2022}}{{cite news |first=Chris |last=Morrison |date=October 15, 2008 |url=https://www.nytimes.com/external/venturebeat/2008/10/15/15venturebeat-elon-musk-steps-in-as-ceo-at-tesla-lays-off-99182.html |title=Musk steps in as CEO |work=The New York Times| access-date=December 13, 2020 |archive-date=February 4, 2016 |archive-url=https://web.archive.org/web/20160204120521/http://www.nytimes.com/external/venturebeat/2008/10/15/15venturebeat-elon-musk-steps-in-as-ceo-at-tesla-lays-off-99182.html |url-status=live }} Musk assumed leadership of the company as CEO and product architect in 2008.{{cite web|date=August 13, 2020|title=Elon Musk: The Story of a Maverick|url=https://interestingengineering.com/elon-musk-the-story-of-a-maverick|access-date=April 3, 2021|website=interestingengineering.com|archive-date=March 16, 2021|archive-url=https://web.archive.org/web/20210316052411/https://interestingengineering.com/elon-musk-the-story-of-a-maverick|url-status=live}} A 2009 lawsuit settlement with Eberhard designated Musk as a Tesla co-founder, along with Tarpenning and two others.{{Cite news|url=https://www.cnet.com/news/tesla-motors-founders-now-there-are-five/|title=Tesla Motors founders: Now there are five|last=LaMonica|first=Martin|publisher=CNET|date=September 2009|access-date=April 17, 2020|quote=Tesla Motors and co-founder Martin Eberhard announced an agreement over who can claim to be a founder of the company on Monday.|archive-date=November 15, 2020|archive-url=https://web.archive.org/web/20201115134134/https://www.cnet.com/news/tesla-motors-founders-now-there-are-five/|url-status=live}}{{cite web |url=https://www.fastcompany.com/1367866/tesla-lawsuit-drama-ends-five-company-founders-emerge |title=Tesla Lawsuit Drama Ends as Five Company Founders Emerge |last=Schwartz|first=Ariel|date=September 21, 2009|website=Fast Company|access-date=April 14, 2020 |quote=Eberhard and Musk have reached a rather unexpected resolution–instead of agreeing to share the title of "founder", the pair has designated five people as company founders, including Musk, Eberhard, JB Straubel, Mark Tarpenning, and Ian Wright.|archive-date=June 6, 2015 |archive-url=https://web.archive.org/web/20150606120247/https://www.fastcompany.com/1367866/tesla-lawsuit-drama-ends-five-company-founders-emerge|url-status=live}} As of 2019, Musk was the longest-tenured CEO of any automotive manufacturer globally.{{cite news|url=https://finance.yahoo.com/news/industry-shift-four-departures-longest-190424759.html|title=Industry Shift: With Four Departures This Year, Who Is The Longest-Tenured Automotive CEO?|first=Dave|last=Royse|work=Yahoo|date=July 8, 2019|access-date=June 8, 2022|archive-date=December 29, 2019|archive-url=https://web.archive.org/web/20191229014127/https://finance.yahoo.com/news/industry-shift-four-departures-longest-190424759.html|url-status=live}} In 2021, Musk nominally changed his title to "Technoking" while retaining his position as CEO.{{Cite news|last=Shead|first=Sam|date=March 15, 2021|title=Elon Musk has officially been made the 'Technoking of Tesla'|url=https://www.cnbc.com/2021/03/15/elon-musk-officially-made-the-technoking-of-tesla.html|access-date=January 28, 2022|publisher=CNBC|archive-date=January 12, 2022|archive-url=https://web.archive.org/web/20220112073406/https://www.cnbc.com/2021/03/15/elon-musk-officially-made-the-technoking-of-tesla.html |url-status=live}}
Tesla began delivery of the Roadster, an electric sports car, in 2008. With sales of about 2,500 vehicles, it was the first mass production all-electric car to use lithium-ion battery cells.{{Cite news |last=Wilson |first=Kevin A.|date=March 15, 2018|title=Worth the Watt: A Brief History of the Electric Car, 1830 to Present|url=https://www.caranddriver.com/features/g15378765/worth-the-watt-a-brief-history-of-the-electric-car-1830-to-present |access-date=March 30, 2021|work=Car and Driver |archive-url=https://web.archive.org/web/20210317062346/https://www.caranddriver.com/features/g15378765/worth-the-watt-a-brief-history-of-the-electric-car-1830-to-present/|archive-date=March 17, 2021|url-status=live}} Tesla began delivery of its four-door Model S sedan in 2012.{{cite news |url=http://www.mercurynews.com/business/ci_20919722/silicon-valley-milestone-tesla-motors-begins-delivering-model?refresh=no |title=In a Silicon Valley milestone, Tesla Motors begins delivering Model S electric cars |first=John |last=Boudreau |work=The Mercury News|date=June 22, 2012 |access-date=June 22, 2012 |url-status=live |archive-date=November 24, 2012 |archive-url=https://web.archive.org/web/20121124040454/http://www.mercurynews.com/business/ci_20919722/silicon-valley-milestone-tesla-motors-begins-delivering-model?refresh=no}} A crossover, the Model X was launched in 2015.{{cite news |last=Ruddick |first=Graham |url=https://www.theguardian.com/business/2015/sep/30/tesla-model-x-electric-car-launch-falcon-wings-suv |title=Tesla's Model X electric car spreads falcon wings at U.S. launch |work=The Guardian| date=September 30, 2015 |access-date=November 4, 2015 |archive-date=June 2, 2017 |archive-url=https://web.archive.org/web/20170602175211/https://www.theguardian.com/business/2015/sep/30/tesla-model-x-electric-car-launch-falcon-wings-suv |url-status=live}} A mass-market sedan, the Model 3, was released in 2017.{{cite news|last=Vlasic|first=Bill|date=July 29, 2017|title=In Pivotal Moment, Tesla Unveils Its First Mass-Market Sedan |url=https://www.nytimes.com/2017/07/29/business/tesla-model-3-elon-musk.html|work=The New York Times |access-date=February 9, 2021|url-status=live|archive-date=February 9, 2021|archive-url=https://web.archive.org/web/20210209235116/https://www.nytimes.com/2017/07/29/business/tesla-model-3-elon-musk.html}} In 2020, the Model 3 became the all-time bestselling plug-in electric car worldwide, and in June 2021 it became the first electric car to sell 1 million units globally.{{cite news |url=https://cleantechnica.com/2021/08/26/tesla-model-3-has-passed-1-million-sales/ |title=Tesla Model 3 Has Passed 1 Million Sales |first=Zachary |last=Shahan |work=CleanTechnica |date=August 26, 2021 |access-date=August 26, 2021 |url-status=live |archive-date=September 4, 2021 |archive-url=https://web.archive.org/web/20210904115030/https://cleantechnica.com/2021/08/26/tesla-model-3-has-passed-1-million-sales/}}{{cite news |first=Maximilian |last=Holland |date=March 10, 2020 |title=Tesla Passes 1 Million EV Milestone & Model 3 Becomes All Time Best Seller |work=CleanTechnica |url=https://cleantechnica.com/2020/03/10/tesla-passes-1-million-ev-milestone-and-model-3-becomes-all-time-best-seller/ |access-date=April 20, 2020 |url-status=live |archive-date=April 12, 2020 |archive-url=https://web.archive.org/web/20200412045911/https://cleantechnica.com/2020/03/10/tesla-passes-1-million-ev-milestone-and-model-3-becomes-all-time-best-seller/}} A fifth vehicle, the Model Y crossover, was launched in 2020, and in December 2023, became the best-selling vehicle of any type,{{Cite web |last1=Munoz |first1=Juan Felipe |last2=Smith |first2=Christopher |date=January 26, 2024 |title=Tesla Model Y Is The World's Best-Selling Vehicle For 2023 |url=https://www.motor1.com/news/706258/tesla-model-y-worlds-top-selling-vehicle-2023/ |access-date=July 9, 2024 |website=Motor1.com |language=en |archive-date=June 18, 2024 |archive-url=https://web.archive.org/web/20240618024546/https://www.motor1.com/news/706258/tesla-model-y-worlds-top-selling-vehicle-2023/ |url-status=live }} as well as the all-time best-selling electric car.{{Cite news|last=O'Kane|first=Sean |date=March 16, 2020|title=Tesla Model Y deliveries begin in the US|work=The Verge |url=https://www.theverge.com/2020/3/16/21182033/tesla-model-y-suv-us-deliveries-begin-price-range|access-date=February 14, 2021|url-status=live|archive-date=March 17, 2020 |archive-url=https://web.archive.org/web/20200317145544/https://www.theverge.com/2020/3/16/21182033/tesla-model-y-suv-us-deliveries-begin-price-range}} The Cybertruck, an all-electric pickup truck, was unveiled in 2019,{{Cite news|last=Huddleston|first=Tom Jr.|date=November 22, 2019|title=This is the James Bond sports car Elon Musk bought for nearly $1 million that inspired Tesla Cybertruck|publisher=CNBC|url=https://www.cnbc.com/2019/11/22/james-bond-lotus-sports-car-elon-musk-bought-inspired-tesla-cybertruck.html|access-date=September 19, 2020|archive-date=November 27, 2019 |archive-url=https://web.archive.org/web/20191127225950/https://www.cnbc.com/2019/11/22/james-bond-lotus-sports-car-elon-musk-bought-inspired-tesla-cybertruck.html|url-status=live}} and delivered in November 2023.{{Cite news |last=Krisher |first=Tom |date=November 30, 2023 |title=Tesla delivers about a dozen stainless steel Cybertruck pickups as it tries to fix production woes |url=https://apnews.com/article/tesla-cybertruck-delivery-stainless-steel-production-delay-f3654502027935dfcb325ac762be86ce |url-status=live |archive-url=https://web.archive.org/web/20231202192605/https://apnews.com/article/tesla-cybertruck-delivery-stainless-steel-production-delay-f3654502027935dfcb325ac762be86ce |archive-date=December 2, 2023 |access-date=December 3, 2023 |publisher=Associated Press}} Under Musk, Tesla has also constructed multiple lithium-ion battery and electric vehicle factories, named Gigafactories.{{Cite news |last=Eddy |first=Melissa |date=March 4, 2022 |title=Tesla Wins Approval to Open European Assembly Plant |language=en-US |work=The New York Times |url=https://www.nytimes.com/2022/03/04/world/europe/tesla-germany-assembly-plant.html |access-date=September 4, 2022|archive-url=https://web.archive.org/web/20220904082019/https://www.nytimes.com/2022/03/04/world/europe/tesla-germany-assembly-plant.html|archive-date=September 4, 2022|url-status=live}}
Since its initial public offering in 2010,{{cite news|agency=Associated Press|date=June 28, 2010 |title=With First Share Offering, Tesla Bets on Electric Car's Future|newspaper=The New York Times |url=https://www.nytimes.com/2010/06/28/business/28tesla.html|access-date=February 9, 2021|archive-url=https://web.archive.org/web/20210210000410/https://www.nytimes.com/2010/06/28/business/28tesla.html |archive-date=February 10, 2021|url-status=live}} Tesla stock has risen significantly; it became the most valuable carmaker in summer 2020,{{cite news|date=July 1, 2020|title=Tesla overtakes Toyota to become world's most valuable carmaker|url=https://www.bbc.com/news/business-53257933|publisher=BBC News|access-date=February 9, 2021|url-status=live|archive-date=February 10, 2021|archive-url=https://web.archive.org/web/20210210000414/https://www.bbc.com/news/business-53257933}}{{cite news|last=Boudette|first=Neal E.|date=July 2, 2020|title=Tesla Shines During the Pandemic as Other Automakers Struggle |url=https://www.nytimes.com/2020/07/02/business/tesla-sales-second-quarter.html|work=The New York Times|access-date=February 9, 2021|url-status=live|archive-date=February 10, 2021|archive-url=https://web.archive.org/web/20210210000501/https://www.nytimes.com/2020/07/02/business/tesla-sales-second-quarter.html}} and it entered the S&P 500 later that year.{{cite news|last=Li |first=Yun|date=December 20, 2021|title=Tesla shares fall 6% as it enters the S&P 500 with 1.69% weighting, fifth largest|url=https://www.cnbc.com/2020/12/20/tesla-enters-the-sp-500-with-1point69percent-weighting-in-the-benchmark-fifth-largest.html|publisher=CNBC|access-date=February 9, 2021|archive-date=February 10, 2021 |archive-url=https://web.archive.org/web/20210210000314/https://www.cnbc.com/2020/12/20/tesla-enters-the-sp-500-with-1point69percent-weighting-in-the-benchmark-fifth-largest.html|url-status=live}}{{cite news|date=December 21, 2020|title=Tesla Stock Joins the S&P 500: A Game Changer|work=The Wall Street Journal |url=https://www.wsj.com/graphics/tesla-stock-joins-the-sp500/ |access-date=February 9, 2021 |archive-url=https://web.archive.org/web/20210210000316/https://www.wsj.com/graphics/tesla-stock-joins-the-sp500/ |archive-date=February 10, 2021|url-status=live}} In October 2021, it reached a market capitalization of $1 trillion, the sixth company in US history to do so.{{Cite news|first=Chris |last=Isidore|date=October 26, 2021|title=Tesla is now worth more than $1 trillion|publisher=CNN |url=https://www.cnn.com/2021/10/25/investing/tesla-stock-trillion-dollar-market-cap/index.html|access-date=November 14, 2021|url-status=live|archive-date=November 14, 2021|archive-url=https://web.archive.org/web/20211114001754/https://www.cnn.com/2021/10/25/investing/tesla-stock-trillion-dollar-market-cap/index.html}} In November 2021, Musk proposed on Twitter to sell some of his Tesla stock. After more than 3.5 million Twitter accounts supported the sale, Musk sold $6.9 billion of Tesla stock within a week,{{Cite news|last=Haselton|first=Todd|date=November 13, 2021|title=Elon Musk sold about $6.9 billion in Tesla stock this week|url=https://www.cnbc.com/2021/11/13/elon-musk-sells-another-1point2-billion-of-tesla-stock.html|access-date=November 15, 2021|publisher=CNBC|archive-date=June 8, 2022|archive-url=https://web.archive.org/web/20220608183425/https://www.cnbc.com/2021/11/13/elon-musk-sells-another-1point2-billion-of-tesla-stock.html|url-status=live}} and a total of $16.4 billion by year end, reaching the 10% target.{{Cite news| title=Tesla's Musk exercises all of his stock options expiring next year| url=https://www.reuters.com/business/teslas-musk-completes-option-related-sales-plan-filing-2021-12-29/| last=Jin| first=Hyunjoo| publisher=Reuters| date=December 30, 2021| access-date=June 8, 2022| archive-url=https://web.archive.org/web/20220531045409/https://www.reuters.com/business/teslas-musk-completes-option-related-sales-plan-filing-2021-12-29/| archive-date=May 31, 2022| url-status=live}} In February 2022, The Wall Street Journal reported that both Musk and his brother Kimbal were under investigation by the Securities and Exchange Commission (SEC) for possible insider trading related to the sale.{{Cite news |last=Michaels |first=Dave |date=February 24, 2022 |title=SEC Probes Trading by Elon Musk and Brother in Wake of Tesla CEO's Sales |newspaper=The Wall Street Journal |url=https://www.wsj.com/articles/sec-probes-trading-by-elon-musk-and-brother-in-wake-of-tesla-ceos-sales-11645730528 |url-access=subscription |access-date=March 3, 2022 |archive-date=March 3, 2022 |archive-url=https://web.archive.org/web/20220303031115/https://www.wsj.com/articles/sec-probes-trading-by-elon-musk-and-brother-in-wake-of-tesla-ceos-sales-11645730528 |url-status=live}} In 2022, Musk unveiled Optimus, a robot being developed by Tesla.{{cite news|last=Siddiqui|first=Faiz|date=September 30, 2022|title=Elon Musk debuts Tesla robot, Optimus, calling it a 'fundamental transformation'|url=https://www.washingtonpost.com/technology/2022/09/30/elon-musk-tesla-bot/|newspaper=The Washington Post|archive-url=https://web.archive.org/web/20221022003146/https://www.washingtonpost.com/technology/2022/09/30/elon-musk-tesla-bot/|archive-date=October 22, 2022|url-status=live}} In June 2023, Musk met with Indian prime minister Narendra Modi in New York City, stating he was interested in investing in India "as soon as humanly possible".{{cite news|url=https://www.hindustantimes.com/india-news/i-am-a-fan-of-modi-tesla-ceo-elon-musk-after-meeting-pm-in-new-york-101687304891831-amp.html|title='I am a fan of Modi': Tesla CEO Elon Musk after meeting PM in New York|newspaper=Hindustan Times|date=June 21, 2023|access-date=June 22, 2023|archive-date=June 21, 2023|archive-url=https://web.archive.org/web/20230621101631/https://www.hindustantimes.com/india-news/i-am-a-fan-of-modi-tesla-ceo-elon-musk-after-meeting-pm-in-new-york-101687304891831-amp.html|url-status=live}}
=SolarCity and Tesla Energy=
{{Main|SolarCity|Tesla Energy}}
File:Pair of 2009 SolarCity Dodge Sprinters.JPG
Musk provided the initial concept and financial capital for SolarCity, which his cousins Lyndon and Peter Rive founded in 2006.{{cite news |first=Michael |last=Kanellos |date=February 15, 2008 |title=Elon Musk on rockets, sports cars, and solar power |url=https://www.cnet.com/roadshow/news/elon-musk-on-rockets-sports-cars-and-solar-power/ | work=CNET |archive-date=January 29, 2014|archive-url=https://web.archive.org/web/20140129063308/http://news.cnet.com/Elon-Musk-on-rockets,-sports-cars,-and-solar-power---page-2/2008-11389_3-6230661-2.html |url-status=live}} By 2013, SolarCity was the second largest provider of solar power systems in the United States.{{Cite news |url=http://www.solarpowerworldonline.com/top-250-solar-contractors |title=2013 Top 250 Solar Contractors |work=Solar Power World |date=September 13, 2013 |access-date=December 13, 2020 |archive-date=October 10, 2017 |archive-url=https://web.archive.org/web/20171010112825/https://www.solarpowerworldonline.com/top-250-solar-contractors/ |url-status=live }} In 2014, Musk promoted the idea of SolarCity building an advanced production facility in Buffalo, New York, triple the size of the largest solar plant in the United States.{{Cite news|last=Smith|first=Aaron|date=June 17, 2014|title=Elon Musk's sunny plans for Buffalo|url=https://money.cnn.com/2014/06/17/news/companies/solarcity-silevo|work=CNNMoney|access-date=December 13, 2020|archive-date=October 9, 2017|archive-url=https://web.archive.org/web/20171009194551/http://money.cnn.com/2014/06/17/news/companies/solarcity-silevo|url-status=live}} Construction of the factory started in 2014 and was completed in 2017. It operated as a joint venture with Panasonic until early 2020.{{cite news |last=Kolodny|first=Lora|author-link=Lora Kolodny|date=February 26, 2020|title=Tesla, Panasonic will reportedly stop joint solar cell production at Gigafactory 2 in Buffalo|url=https://www.cnbc.com/2020/02/26/tesla-panasonic-said-to-end-joint-solar-cell-production-at-buffalo-factory.html|publisher=CNBC| access-date=September 1, 2020|archive-url=https://web.archive.org/web/20200808130532/https://www.cnbc.com/2020/02/26/tesla-panasonic-said-to-end-joint-solar-cell-production-at-buffalo-factory.html|archive-date=August 8, 2020}}{{cite web|title=The highs, lows and legacy of Panasonic's doomed project in Buffalo|website=The Business Journals |url=https://www.bizjournals.com/buffalo/news/2020/11/23/leaders-of-doomed-panasonic-project-look-back.html |url-status=live|access-date=April 3, 2021|archive-date=November 23, 2020|archive-url=https://web.archive.org/web/20201123121014/https://www.bizjournals.com/buffalo/news/2020/11/23/leaders-of-doomed-panasonic-project-look-back.html}}
Tesla acquired SolarCity for $2 billion in 2016 and merged it with its battery unit to create Tesla Energy. The deal's announcement resulted in a more than 10% drop in Tesla's stock price; at the time, SolarCity was facing liquidity issues.{{cite news|last1=Kolodny|first1=Lora|author-link1=Lora Kolodny|last2=Bursztynsky|first2=Jessica|date=April 27, 2022|title=Elon Musk wins shareholder lawsuit over Tesla's $2.6 billion SolarCity acquisition|url=https://www.cnbc.com/2022/04/27/elon-musk-wins-shareholder-lawsuit-over-the-companys-2point6-billion-solarcity-acquisition.html|publisher=CNBC|access-date=June 7, 2022|quote=According to emails that were part of evidence in the trial, Musk wrote an e-mail to SolarCity CFO Brad Buss on Sept. 18, 2016, saying that to get Tesla investors on board with the deal, SolarCity needed to get a handle on its liquidity problem and sign a letter of intent for a contract with Panasonic.|archive-date=May 24, 2022|archive-url=https://web.archive.org/web/20220524153414/https://www.cnbc.com/2022/04/27/elon-musk-wins-shareholder-lawsuit-over-the-companys-2point6-billion-solarcity-acquisition.html|url-status=live}} Multiple shareholder groups filed a lawsuit against Musk and Tesla's directors, stating that the purchase of SolarCity was done solely to benefit Musk and came at the expense of Tesla and its shareholders.{{cite news |last=Strong|first=Michael|date=March 16, 2020|title=Shareholder $2.2B Lawsuit Against Tesla CEO Musk Halted After Trial Postponed Due to Coronavirus|url=https://www.thedetroitbureau.com/2020/03/shareholder-2-2b-lawsuit-against-tesla-ceo-musk-halted-after-trial-postponed-due-to-coronavirus/|work=The Detroit Bureau|access-date=September 1, 2020|archive-url=https://web.archive.org/web/20200914204415/https://www.thedetroitbureau.com/2020/03/shareholder-2-2b-lawsuit-against-tesla-ceo-musk-halted-after-trial-postponed-due-to-coronavirus/|archive-date=September 14, 2020}}{{cite news |last=Mitchell|first=Russ|date=September 23, 2019|title=Elon Musk knew SolarCity was going broke before merger with Tesla, lawsuit alleges|url=https://www.latimes.com/business/story/2019-09-23/solarcity-tesla-merger-shareholder-lawsuit|work=Los Angeles Times|access-date=September 1, 2020|archive-url=https://web.archive.org/web/20200730152927/https://www.latimes.com/business/story/2019-09-23/solarcity-tesla-merger-shareholder-lawsuit|archive-date=July 30, 2020}} Tesla directors settled the lawsuit in January 2020, leaving Musk the sole remaining defendant.{{cite news |last=Hals|first=Tom|date=January 30, 2020|title=Tesla directors settle, isolating Musk as SolarCity trial looms|url=https://www.reuters.com/article/us-tesla-solarcity-lawsuit/tesla-directors-settle-isolating-musk-as-solarcity-trial-looms-idUSKBN1ZT2HF|publisher=Reuters|access-date=September 1, 2020|archive-url=https://web.archive.org/web/20200728215010/https://www.reuters.com/article/us-tesla-solarcity-lawsuit/tesla-directors-settle-isolating-musk-as-solarcity-trial-looms-idUSKBN1ZT2HF|archive-date=July 28, 2020}}{{cite news |last=Chase|first=Randall|date=August 17, 2020|title=Judge OKs $60M settlement over Tesla buyout of SolarCity|url=https://abcnews.go.com/Technology/wireStory/judge-oks-60m-settlement-tesla-buyout-solarcity-72425974|publisher=ABC News|access-date=September 1, 2020|archive-url=https://web.archive.org/web/20200825103031/https://abcnews.go.com/Technology/wireStory/judge-oks-60m-settlement-tesla-buyout-solarcity-72425974|archive-date=August 25, 2020}} Two years later, the court ruled in Musk's favor.{{cite news|last1=Kolodny|first1=Lora|author-link1=Lora Kolodny|last2=Bursztynsky|first2=Jessica|date=April 27, 2022|title=Elon Musk wins shareholder lawsuit over Tesla's $2.6 billion SolarCity acquisition|url=https://www.cnbc.com/2022/04/27/elon-musk-wins-shareholder-lawsuit-over-the-companys-2point6-billion-solarcity-acquisition.html|publisher=CNBC|access-date=June 7, 2022|archive-date=May 24, 2022|archive-url=https://web.archive.org/web/20220524153414/https://www.cnbc.com/2022/04/27/elon-musk-wins-shareholder-lawsuit-over-the-companys-2point6-billion-solarcity-acquisition.html|url-status=live}}
Neuralink
{{Main|Neuralink}}
File:Elon Musk and the Neuralink Future.jpg
In 2016, Musk co-founded Neuralink, a neurotechnology startup company, with an investment of $100 million. Neuralink aims to integrate the human brain with artificial intelligence (AI) by creating devices that are embedded in the brain. Such technology could enhance memory or allow the devices to communicate with software.{{Cite news|last=Statt|first=Nick|url=https://www.theverge.com/2017/3/27/15077864/elon-musk-neuralink-brain-computer-interface-ai-cyborgs |title=Elon Musk launches Neuralink, a venture to merge the human brain with AI |date=March 27, 2017 |work=The Verge| access-date=April 10, 2017|archive-url=https://web.archive.org/web/20200803182502/https://www.theverge.com/2017/3/27/15077864/elon-musk-neuralink-brain-computer-interface-ai-cyborgs|archive-date=August 3, 2020}}{{cite news|last=Winkler|first=Rolfe|date=March 27, 2017|title=Elon Musk Launches Neuralink to Connect Brains With Computers|url=https://www.wsj.com/articles/elon-musk-launches-neuralink-to-connect-brains-with-computers-1490642652|work=The Wall Street Journal|access-date=October 10, 2020|archive-url=https://web.archive.org/web/20201002205615/https://www.wsj.com/articles/elon-musk-launches-neuralink-to-connect-brains-with-computers-1490642652|archive-date=October 2, 2020}} The company also hopes to develop devices with which to treat neurological conditions such as Alzheimer's disease, dementia, and spinal cord injuries.{{cite news|agency=Reuters|date=August 29, 2020|title=Elon Musk's Neuralink puts computer chips in pigs' brains in bid to cure diseases|url=https://www.nbcnews.com/tech/tech-news/elon-musk-s-neuralink-puts-computer-chips-pigs-brains-bid-n1238782|publisher=NBC News|access-date=July 26, 2022|archive-date=April 26, 2022|archive-url=https://web.archive.org/web/20220426143430/https://www.nbcnews.com/tech/tech-news/elon-musk-s-neuralink-puts-computer-chips-pigs-brains-bid-n1238782|url-status=live}}
In 2019, Musk announced work on a device akin to a sewing machine that could embed threads into a human brain.{{cite news|last=Markoff|first=John|date=July 16, 2019|title=Elon Musk's Neuralink Wants 'Sewing Machine-Like' Robots to Wire Brains to the Internet|url=https://www.nytimes.com/2019/07/16/technology/neuralink-elon-musk.html|work=The New York Times|access-date=July 26, 2022|archive-url=https://web.archive.org/web/20220720213845/https://www.nytimes.com/2019/07/16/technology/neuralink-elon-musk.html|archive-date=July 20, 2022|url-status=live}} In an October 2019 paper that detailed some of Neuralink's research,{{Cite news|last=Zhavoronkov|first=Alex|title=Elon Musk's Big Neuralink Paper: Should We Prepare For The Digital Afterlife?|url=https://www.forbes.com/sites/alexzhavoronkov/2021/06/17/elon-musks-big-neuralink-paper-should-we-prepare-for-the-digital-afterlife/|access-date=August 17, 2022|work=Forbes|archive-date=August 17, 2022|archive-url=https://web.archive.org/web/20220817174400/https://www.forbes.com/sites/alexzhavoronkov/2021/06/17/elon-musks-big-neuralink-paper-should-we-prepare-for-the-digital-afterlife/|url-status=live}} Musk was listed as the sole author, which rankled Neuralink researchers.{{Cite news |last1=Kahn |first1=Jeremy |last2=Vanian |first2=Jonathan |date=January 27, 2022 |title=Inside Neuralink, Elon Musk's mysterious brain chip startup: A culture of blame, impossible deadlines, and a missing CEO |url=https://fortune.com/longform/neuralink-brain-computer-interface-chip-implant-elon-musk/ |access-date=August 17, 2022 |work=Fortune|archive-url=https://web.archive.org/web/20220925142727/https://fortune.com/longform/neuralink-brain-computer-interface-chip-implant-elon-musk/|archive-date=September 25, 2022|url-status=live}} At a 2020 live demonstration, Musk described one of their early devices as "a Fitbit in your skull" that could soon cure paralysis, deafness, blindness, and other disabilities. Many neuroscientists and publications criticized these claims,{{cite news|last=Cellan-Jones|first=Rory|date=September 1, 2020|title=Is Elon Musk over-hyping his brain-hacking Neuralink tech?|url=https://www.bbc.com/news/technology-53987919|publisher=BBC News| access-date=September 14, 2020|archive-url=https://web.archive.org/web/20200912010226/https://www.bbc.com/news/technology-53987919|archive-date=September 12, 2020}}{{cite magazine|last=Rogers|first=Adam|date=September 4, 2020|title=Neuralink Is Impressive Tech, Wrapped in Musk Hype|url=https://www.wired.com/story/neuralink-is-impressive-tech-wrapped-in-musk-hype/|magazine=Wired|access-date=September 14, 2020|archive-url=https://web.archive.org/web/20200906074207/https://www.wired.com/story/neuralink-is-impressive-tech-wrapped-in-musk-hype/|archive-date=September 6, 2020}} with MIT Technology Review describing them as "highly speculative" and "neuroscience theater".{{cite news|last=Regalado|first=Antonio|date=August 30, 2020|title=Elon Musk's Neuralink is neuroscience theater|url=https://www.technologyreview.com/2020/08/30/1007786/elon-musks-neuralink-demo-update-neuroscience-theater/|work=MIT Technology Review|access-date=September 3, 2020|archive-date=December 13, 2020|archive-url=https://web.archive.org/web/20201213224951/https://www.technologyreview.com/2020/08/30/1007786/elon-musks-neuralink-demo-update-neuroscience-theater/|url-status=live}} During the demonstration, Musk revealed a pig with a Neuralink implant that tracked neural activity related to smell. In 2022, Neuralink announced that clinical trials would begin by the end of the year.{{cite news|last=Neate|first=Rupert|date=January 20, 2022|title=Elon Musk's brain chip firm Neuralink lines up clinical trials in humans|url=https://www.theguardian.com/technology/2022/jan/20/elon-musk-brain-chip-firm-neuralink-lines-up-clinical-trials-in-humans|work=The Guardian|access-date=July 26, 2022|archive-date=July 12, 2022|archive-url=https://web.archive.org/web/20220712164543/https://www.theguardian.com/technology/2022/jan/20/elon-musk-brain-chip-firm-neuralink-lines-up-clinical-trials-in-humans|url-status=live}}
Neuralink has conducted further animal testing on macaque monkeys at the University of California, Davis' Primate Research Center. In 2021, the company released a video in which a Macaque played the video game Pong via a Neuralink implant. The company's animal trials—which have caused the deaths of some monkeys—have led to claims of animal cruelty. The Physicians Committee for Responsible Medicine has alleged that Neuralink's animal trials have violated the Animal Welfare Act.{{cite news|last=Ryan|first=Hannah|date=February 17, 2022|title=Elon Musk's Neuralink confirms monkeys died in the project, denies animal cruelty claims|url=https://www.cnn.com/2022/02/17/business/elon-musk-neuralink-animal-cruelty-intl-scli/index.html|publisher=CNN Business|archive-date=July 11, 2022|archive-url=https://web.archive.org/web/20220711203824/https://www.cnn.com/2022/02/17/business/elon-musk-neuralink-animal-cruelty-intl-scli/index.html|url-status=live}} Employees have complained that pressure from Musk to accelerate development has led to botched experiments and unnecessary animal deaths. In 2022, a federal probe was launched into possible animal welfare violations by Neuralink.{{cite news|last=Levy|first=Rachel|date=December 5, 2022|title=Musk's Neuralink faces federal probe, employee backlash over animal tests|url=https://www.reuters.com/technology/musks-neuralink-faces-federal-probe-employee-backlash-over-animal-tests-2022-12-05/|publisher=Reuters|access-date=December 5, 2022|archive-url=https://web.archive.org/web/20221206012000/https://www.reuters.com/technology/musks-neuralink-faces-federal-probe-employee-backlash-over-animal-tests-2022-12-05/|archive-date=December 6, 2022|url-status=live}} In September 2023, the Food and Drug Administration approved Neuralink to initiate human trials, and it plans to conduct a six-year study.{{cite news|last=Singh|first=Maanvi|date=September 19, 2023|title=Elon Musk's Neuralink approved to recruit humans for brain-implant trial|url=https://www.theguardian.com/technology/2023/sep/19/elon-musk-neuralink-human-trials-brain-implant|work=The Guardian|access-date=September 24, 2023|archive-url=https://web.archive.org/web/20230924074223/https://www.theguardian.com/technology/2023/sep/19/elon-musk-neuralink-human-trials-brain-implant|archive-date=September 24, 2023|url-status=live}}
The Boring Company
{{Main|The Boring Company}}
File:Elon Musk Accelerates the Boring (45716125474).jpg in Hawthorne, California|left]]
In 2017, Musk founded the Boring Company to construct tunnels, and revealed plans for specialized, underground, high-occupancy vehicles that could travel up to {{convert|150|mph|km/h}} and thus circumvent above-ground traffic in major cities.{{cite news|last=Petrova|first=Magdalena|date=July 20, 2021|title=Why Elon Musk's Boring Company is finding that traffic is tough to fix|url=https://www.cnbc.com/2021/07/20/why-elon-musks-boring-company-is-finding-that-traffic-is-tough-to-fix.html|publisher=CNBC|access-date=June 13, 2022|archive-date=June 14, 2022|archive-url=https://web.archive.org/web/20220614005426/https://www.cnbc.com/2021/07/20/why-elon-musks-boring-company-is-finding-that-traffic-is-tough-to-fix.html|url-status=live}}{{cite news|last=McFarland|first=Matt|date=July 6, 2022|title=Elon Musk's Boring Company will let you pay for a ride with Dogecoin|url=https://www.cnn.com/2022/07/06/business/boring-company-dogecoin-vegas/index.html|publisher=CNN|access-date=July 26, 2022|archive-date=July 26, 2022|archive-url=https://web.archive.org/web/20220726194550/https://www.cnn.com/2022/07/06/business/boring-company-dogecoin-vegas/index.html|url-status=live}} Early in 2017, the company began discussions with regulatory bodies and initiated construction of a {{convert|30|ft|adj=on}} wide, {{convert|50|ft|adj=on}} long, and {{convert|15|ft|adj=on}} deep "test trench" on the premises of SpaceX's offices, as that required no permits.{{Cite magazine |url=https://www.wired.co.uk/article/elon-musk-tunnel-boring |title=Elon Musk's boring machine has already built a 'test trench' in LA |last=Heathman |first=Amelia |magazine=Wired|access-date=February 19, 2017 |archive-date=July 18, 2017 |archive-url=https://web.archive.org/web/20170718214211/http://www.wired.co.uk/article/elon-musk-tunnel-boring |url-status=live }} The Los Angeles tunnel, less than {{convert|2|mi|km|spell=in}} in length, debuted to journalists in 2018. It used Tesla Model Xs and was reported to be a rough ride while traveling at suboptimal speeds.{{cite news|last=Romero|first=Dennis|date=December 19, 2018|title=Elon Musk unveils his test car tunnel as a fix for traffic in Los Angeles|url=https://www.nbcnews.com/mach/tech/elon-musk-puts-his-electric-car-tunnel-calls-it-future-ncna949686|publisher=NBC News|access-date=July 26, 2022|archive-date=July 4, 2022|archive-url=https://web.archive.org/web/20220704132024/https://www.nbcnews.com/mach/tech/elon-musk-puts-his-electric-car-tunnel-calls-it-future-ncna949686|url-status=live}}
Two tunnel projects announced in 2018, in Chicago and West Los Angeles, have been canceled.{{cite news|last=Farivar|first=Cyrus|date=June 8, 2021|title=Fort Lauderdale officials say Elon Musk's new tunnel to the beach can't come fast enough|url=https://www.nbcnews.com/tech/tech-news/urban-tunnels-musk-s-boring-co-draw-industry-skepticism-n1269677|publisher=NBC News|access-date=July 27, 2022|url-status=live|archive-url=https://web.archive.org/web/20210703130707/https://www.nbcnews.com/tech/tech-news/urban-tunnels-musk-s-boring-co-draw-industry-skepticism-n1269677|archive-date=July 3, 2021}}{{Cite news|last=Heater|first=Brian|date=November 28, 2018|title=Elon Musk's Boring Co. drops LA Westside tunnel plan|url=https://techcrunch.com/2018/11/28/elon-musks-boring-co-drops-la-westside-tunnel-plan/|work=TechCrunch|access-date=July 27, 2022|archive-url=https://web.archive.org/web/20181128133124/https://techcrunch.com/2018/11/28/elon-musks-boring-co-drops-la-westside-tunnel-plan/|url-status=live|archive-date=November 28, 2018}} However, a tunnel beneath the Las Vegas Convention Center was completed in early 2021.{{Cite news|date=May 20, 2021|title=Boring Co. underground loop to be put to the test|url=https://www.reviewjournal.com/business/tourism/boring-co-underground-loop-to-be-put-to-the-test-2358258/|access-date=May 29, 2021|work=The Las Vegas Review-Journal|archive-date=May 21, 2021|archive-url=https://web.archive.org/web/20210521225002/https://www.reviewjournal.com/business/tourism/boring-co-underground-loop-to-be-put-to-the-test-2358258/|url-status=live}} Local officials have approved further expansions of the tunnel system.{{cite news|last=McBride|first=Sarah|date=December 16, 2020|title=Elon Musk's Proposed Vegas Strip Transit System Advanced by City Council Vote|url=https://www.bloomberg.com/news/articles/2020-12-16/the-boring-company-las-vegas-loop-projects-eyes-major-expansion|publisher=Bloomberg L.P.|access-date=January 8, 2021|archive-date=January 11, 2021|archive-url=https://web.archive.org/web/20210111092533/https://www.bloomberg.com/news/articles/2020-12-16/the-boring-company-las-vegas-loop-projects-eyes-major-expansion|url-status=live}}
Twitter/X
{{Further|Acquisition of Twitter by Elon Musk|Twitter under Elon Musk}}
{{Tweet
| name = Elon Musk
| username = elonmusk
| date = April 14, 2022
| text = I made an offer
{{URL|www.sec.gov/Archives/edgar/data/0001418091/000110465922045641/tm2212748d1_sc13da.htm|https://sec.gov/Archives/edgar...}}
| ID = 1514564966564651008
| archive-url = https://web.archive.org/web/20220414112418/https://twitter.com/elonmusk/status/1514564966564651008
| archive-date = April 14, 2022
| url-status = live
| image = Elon Musk Royal Society (crop2).jpg
| left =
}}
Musk expressed interest in buying Twitter as early as 2017,{{cite news|last1=Paul |first1=Kari |date=April 26, 2022 |title=Chaotic and crass: a brief timeline of Elon Musk's history with Twitter|work=The Guardian |url=https://www.theguardian.com/technology/2022/apr/25/timeline-elon-musks-history-twitter |url-status=live |access-date=April 26, 2022 |archive-url=https://web.archive.org/web/20220426050301/https://www.theguardian.com/technology/2022/apr/25/timeline-elon-musks-history-twitter |archive-date=April 26, 2022}} and had questioned the platform's commitment to freedom of speech.{{Cite news |date=April 4, 2022 |title=Elon Musk snaps up $3bn Twitter stake |publisher=BBC News |url=https://www.bbc.com/news/business-60979656 |url-status=live |access-date=April 4, 2022 |archive-url=https://web.archive.org/web/20220404110529/https://www.bbc.com/news/business-60979656 |archive-date=April 4, 2022}}{{Cite news |last=Jones |first=Callum |title=Elon Musk becomes Twitter's biggest shareholder after taking 9.2% stake |work=The Times |url=https://www.thetimes.com/business-money/technology/article/musk-takes-2-9bn-stake-in-twitter-p57b9wbs2 |url-status=live |access-date=April 4, 2022 |archive-url=https://web.archive.org/web/20220404124750/https://www.thetimes.co.uk/article/elon-musk-becomes-twitters-biggest-shareholder-after-taking-9-2-stake-p57b9wbs2 |archive-date=April 4, 2022}} Additionally, his ex-wife Talulah Riley had urged him to buy Twitter to stop the "woke-ism".{{cite news|last1=Hull|first1=Dana|last2=Fleisher|first2=Lisa|date=October 4, 2022|title=Twitter texts released in court case reveal Elon Musk's ex-wife asked him to 'Please do something to fight woke-ism'|url=https://fortune.com/2022/10/04/twitter-texts-released-court-case-reveal-elon-musk-ex-wife-talulah-riley-asked-him-fight-wokeism/|work=Fortune|access-date=September 23, 2023|archive-url=https://web.archive.org/web/20230530185341/https://fortune.com/2022/10/04/twitter-texts-released-court-case-reveal-elon-musk-ex-wife-talulah-riley-asked-him-fight-wokeism/|archive-date=May 30, 2023|url-status=live}} In January 2022, Musk started purchasing Twitter shares, reaching a 9.2% stake by April,{{cite news |last=Elder |first=Bryce |date=April 6, 2022 |title=Musk and Twitter: the timeline |url=https://www.ft.com/content/d95f6255-010d-4f1b-93db-1cc26bf40538 |url-status=live |archive-url=https://web.archive.org/web/20220530220017/https://www.ft.com/content/d95f6255-010d-4f1b-93db-1cc26bf40538 |archive-date=May 30, 2022 |access-date=June 4, 2022 |work=Financial Times}} making him the largest shareholder.{{Cite news |last1=Adler |first1=Maxwell |last2=Turner |first2=Giles |date=April 14, 2022 |title=Elon Musk Makes $43 Billion Unsolicited Bid to Take Twitter Private |publisher=Bloomberg L.P. |url=https://www.bloomberg.com/news/articles/2022-04-14/elon-musk-launches-43-billion-hostile-takeover-of-twitter |url-status=live |access-date=April 14, 2022 |archive-url=https://web.archive.org/web/20220414102231/https://www.bloomberg.com/news/articles/2022-04-14/elon-musk-launches-43-billion-hostile-takeover-of-twitter |archive-date=April 14, 2022}}{{efn|He did not file the necessary SEC paperwork within 10 days of his stake passing 5%, a violation of US securities laws.{{Cite news |title=Elon Musk delayed filing a form and made $156 million |newspaper=The Washington Post|url=https://www.washingtonpost.com/technology/2022/04/06/musk-twitter-sec/ |url-status=live |access-date=April 8, 2022 |archive-url=https://web.archive.org/web/20220408004816/https://www.washingtonpost.com/technology/2022/04/06/musk-twitter-sec/ |archive-date=April 8, 2022}}}} When this was publicly disclosed, Twitter shares experienced the largest intraday price surge since the company's 2013 initial public offering.{{cite news |last1=Imbert |first1=Fred |date=April 4, 2022 |title=Twitter shares close up 27% after Elon Musk takes 9% stake in social media company |publisher=CNBC |url=https://www.cnbc.com/2022/04/04/twitter-shares-soar-more-than-25percent-after-elon-musk-takes-9percent-stake-in-social-media-company.html |url-status=live |access-date=April 19, 2022 |archive-url=https://web.archive.org/web/20220404102019/https://www.cnbc.com/2022/04/04/twitter-shares-soar-more-than-25percent-after-elon-musk-takes-9percent-stake-in-social-media-company.html |archive-date=April 4, 2022 |quote=Twitter shares close up 27% after Elon Musk takes 9% stake in social media company}} On April 4, Musk agreed to a deal that would appoint him to Twitter's board of directors and prohibit him from acquiring more than 14.9% of the company.{{Cite news |last=Corfield |first=Gareth |date=April 5, 2022 |title=Elon Musk to join Twitter board |work=The Daily Telegraph |url=https://www.telegraph.co.uk/business/2022/04/05/elon-musk-floats-idea-editing-tweets-stock-swoop/ |url-status=live |url-access=subscription |access-date=April 5, 2022 |archive-url=https://web.archive.org/web/20220405113704/https://www.telegraph.co.uk/business/2022/04/05/elon-musk-floats-idea-editing-tweets-stock-swoop/ |archive-date=April 5, 2022}}{{Cite news |last=McLean |first=Rob |date=April 11, 2022 |title=Twitter CEO: Elon Musk will not join Twitter board |publisher=CNN |url=https://www.cnn.com/2022/04/11/tech/elon-musk-twitter-board/index.html |url-status=live |access-date=April 11, 2022 |archive-url=https://web.archive.org/web/20220411174237/https://www.cnn.com/2022/04/11/tech/elon-musk-twitter-board/index.html |archive-date=April 11, 2022}} However, on April 13, Musk made a $43 billion offer to buy Twitter, launching a takeover bid to buy 100% of Twitter's stock at $54.20 per share.{{Cite news |date=April 14, 2022 |title=Elon Musk launches hostile takeover bid for Twitter |agency=Agence France-Presse |work=France 24|url=https://www.france24.com/en/live-news/20220414-elon-musk-launches-hostile-takeover-bid-for-twitter |url-status=live |access-date=April 14, 2022 |archive-url=https://web.archive.org/web/20220414113219/https://www.france24.com/en/live-news/20220414-elon-musk-launches-hostile-takeover-bid-for-twitter |archive-date=April 14, 2022}} In response, Twitter's board adopted a "poison pill" shareholder rights plan to make it more expensive for any single investor to own more than 15% of the company without board approval.{{cite news |last1=Feiner |first1=Lauren |date=April 15, 2022 |title=Twitter board adopts 'poison pill' after Musk's $43 billion bid to buy company |publisher=CNBC |url=https://www.cnbc.com/2022/04/15/twitter-board-adopts-poison-pill-after-musks-43-billion-offer-to-buy-company.html |url-status=live |access-date=April 18, 2022 |archive-url=https://web.archive.org/web/20220417235155/https://www.cnbc.com/2022/04/15/twitter-board-adopts-poison-pill-after-musks-43-billion-offer-to-buy-company.html |archive-date=April 17, 2022}} Nevertheless, by the end of the month Musk had successfully concluded his bid for approximately $44 billion.{{cite news |last=Stahl |first=George |title=Musk-Twitter Deal Values Company at Around $44 Billion |work=The Wall Street Journal|url=https://www.wsj.com/livecoverage/twitter-elon-musk-latest-news/card/musk-twitter-deal-values-company-at-around-44-billion-MdEXkyNxU0GbJ1kqBc1M |url-status=live |access-date=April 25, 2022 |archive-url=https://web.archive.org/web/20220425191453/https://www.wsj.com/livecoverage/twitter-elon-musk-latest-news/card/musk-twitter-deal-values-company-at-around-44-billion-MdEXkyNxU0GbJ1kqBc1M |archive-date=April 25, 2022}} This included about $12.5 billion in loans against his Tesla stock and $21 billion in equity financing.{{cite news |last1=Isaac |first1=Mike |last2=Hirsch |first2=Lauren |date=April 25, 2022 |title=With Deal for Twitter, Musk Lands a Prize and Pledges Fewer Limits |work=The New York Times |url=https://www.nytimes.com/2022/04/25/technology/musk-twitter-sale.html |url-status=live |access-date=April 26, 2022 |archive-url=https://web.archive.org/web/20220427044712/https://www.nytimes.com/2022/04/25/technology/musk-twitter-sale.html?searchResultPosition=19 |archive-date=April 27, 2022}}{{cite news |last1=MacMillan |first1=Douglas |last2=Siddiqui |first2=Faiz |last3=Lerman |first3=Rachel |last4=Telford |first4=Taylor |date=April 25, 2022 |title=Elon Musk acquires Twitter for roughly $44 billion |newspaper=The Washington Post |url=https://www.washingtonpost.com/technology/2022/04/25/twitter-elon-musk-deal/ |url-status=live |access-date=April 26, 2022 |archive-url=https://web.archive.org/web/20220425201853/https://www.washingtonpost.com/technology/2022/04/25/twitter-elon-musk-deal/ |archive-date=April 25, 2022}}
Tesla's stock market value sank by over $100 billion the next day in reaction to the deal.{{cite news|last1=Siddiqui|first1=Faiz|date=April 26, 2022|title=Tesla's value dropped Tuesday by more than double the cost of Twitter |newspaper=The Washington Post |url=https://www.washingtonpost.com/technology/2022/04/26/elon-musk-tesla-twitter-stock/ |url-status=live|access-date=April 26, 2022|archive-url=https://web.archive.org/web/20220427050151/https://www.washingtonpost.com/technology/2022/04/26/elon-musk-tesla-twitter-stock/ |archive-date=April 27, 2022}}{{cite news |last1=Gura |first1=David |date=April 26, 2022 |title=Tesla shares sink, wipe out over $125 billion in value, as Musk scores Twitter deal |publisher=NPR |url=https://www.npr.org/2022/04/26/1094870412/tesla-shares-sink-twitter-elon-musk |url-status=live |access-date=April 26, 2022 |archive-url=https://web.archive.org/web/20220427002421/https://www.npr.org/2022/04/26/1094870412/tesla-shares-sink-twitter-elon-musk |archive-date=April 27, 2022}} He subsequently tweeted to his 86 million followers criticism of Twitter executive Vijaya Gadde's policies, which led to some of them engaging in sexist and racist harassment against her.{{cite news |last1=Woo |first1=Erin |last2=Isaac |first2=Mike |date=April 27, 2022 |title=In tweets, Musk takes aim at Twitter executives, creating outrage. |work=The New York Times |url=https://www.nytimes.com/live/2022/04/27/technology/twitter-elon-musk-news/in-tweets-musk-takes-aim-at-twitter-executives-creating-outrage |access-date=April 27, 2022 |archive-url=https://web.archive.org/web/20220428030308/https://www.nytimes.com/live/2022/04/27/technology/twitter-elon-musk-news |archive-date=April 28, 2022}} Exactly a month after announcing the takeover, Musk stated that the deal was "on hold" following a report that 5% of Twitter's daily active users were spam accounts.{{Cite news |last1=Balu |first1=Nivedita |last2=Li |first2=Kenneth |date=May 13, 2022 |title=Musk says $44 bln Twitter deal on hold over fake account data |publisher=Reuters |url=https://www.reuters.com/technology/musk-says-44-billion-twitter-deal-hold-2022-05-13 |url-status=live |url-access=limited |access-date=May 13, 2022 |archive-url=https://web.archive.org/web/20220513111305/https://www.reuters.com/technology/musk-says-44-billion-twitter-deal-hold-2022-05-13 |archive-date=May 13, 2022}} Although he initially affirmed his commitment to the acquisition,{{Cite news |last1=Seal |first1=Dean |last2=Needleman |first2=Sarah E. |last3=Lombardo |first3=Cara |date=May 13, 2022 |title=Elon Musk Says His $44 Billion Twitter Deal Is 'On Hold' |work=The Wall Street Journal |url=https://www.wsj.com/articles/elon-musk-tweets-that-twitter-deal-is-temporarily-on-hold-11652436335 |url-status=live |url-access=subscription |access-date=May 13, 2022 |archive-url=https://web.archive.org/web/20220513100952/https://www.wsj.com/articles/elon-musk-tweets-that-twitter-deal-is-temporarily-on-hold-11652436335 |archive-date=May 13, 2022}} he sent notification of his termination of the deal in July; Twitter's board of directors responded that they were committed to holding him to the transaction.{{cite news |last=Feiner |first=Lauren |date=July 8, 2022 |title=Elon Musk notifies Twitter he is terminating deal |publisher=CNBC |url=https://www.cnbc.com/2022/07/08/elon-musk-notifies-twitter-he-is-terminating-deal.html |access-date=July 8, 2022|archive-url=https://web.archive.org/web/20221024105503/https://www.cnbc.com/2022/07/08/elon-musk-notifies-twitter-he-is-terminating-deal.html|archive-date=October 24, 2022|url-status=live}} On July 12, 2022, Twitter formally sued Musk in the Delaware Court of Chancery for breaching a legally binding agreement to purchase Twitter.{{Cite news |last1=Conger |first1=Kate |last2=Hirsch |first2=Lauren |date=July 12, 2022 |title=Twitter Sues Musk After He Tries Backing Out of $44 Billion Deal |work=The New York Times |url=https://www.nytimes.com/2022/07/12/technology/twitter-lawsuit-musk-acquisition.html |access-date=July 12, 2022|archive-url=https://web.archive.org/web/20221024114511/https://www.nytimes.com/2022/07/12/technology/twitter-lawsuit-musk-acquisition.html|archive-date=October 24, 2022|url-status=live}} In October 2022, Musk reversed again, offering to purchase Twitter at $54.20 per share.{{cite news|last1=Conger|first1=Kate|last2=Hirsch|first2=Lauren|last3=Sorkin|first3=Andrew Ross|date=October 4, 2022|title=Elon Musk Suggests Buying Twitter at His Original Price|url=https://www.nytimes.com/2022/10/04/technology/elon-musk-twitter-deal.html|work=The New York Times|access-date=October 8, 2022|archive-url=https://web.archive.org/web/20221024192040/https://www.nytimes.com/2022/10/04/technology/elon-musk-twitter-deal.html|archive-date=October 24, 2022|url-status=live}} The acquisition was officially completed on October 27.
Immediately after the acquisition, Musk fired several top Twitter executives including CEO Parag Agrawal;{{cite news|last1=Klar|first1=Rebecca|date=October 27, 2022|title=Musk officially closes Twitter deal: reports|url=https://thehill.com/policy/technology/3708424-musk-officially-closes-twitter-deal-reports/|work=The Hill|access-date=October 27, 2022|archive-url=https://web.archive.org/web/20221028015632/https://thehill.com/policy/technology/3708424-musk-officially-closes-twitter-deal-reports/|archive-date=October 28, 2022|url-status=live}}{{Cite news|date=October 27, 2022 |title=Musk Said to Begin Firing Twitter's Top Executives |work=The New York Times |url=https://www.nytimes.com/2022/10/27/technology/musk-twitter.html|archive-url=https://web.archive.org/web/20221028015154/https://www.nytimes.com/2022/10/27/technology/elon-musk-twitter-deal-complete.html|archive-date=October 28, 2022|url-status=live}} Musk became the CEO instead.{{cite news|last1=Mehta |first1=Chavi |last2=Dang|first2=Sheila|last3=Ghosh|first3=Sayantani|title=Elon Musk, who runs four other companies, will now be Twitter CEO|url=https://www.reuters.com/technology/elon-musk-says-he-will-be-twitter-ceo-2022-10-31/|date=October 31, 2022|publisher=Reuters|archive-url=https://web.archive.org/web/20221101010029/https://www.reuters.com/technology/elon-musk-says-he-will-be-twitter-ceo-2022-10-31/|archive-date=November 1, 2022|url-status=live}} He instituted a $7.99 monthly subscription for a "blue check",{{cite news|date=November 2, 2022|title=Elon Musk says $8 monthly fee for Twitter blue tick|url=https://www.bbc.com/news/business-63478854|publisher=BBC News|access-date=November 2, 2022|archive-url=https://web.archive.org/web/20221102095601/https://www.bbc.com/news/business-63478854|archive-date=November 2, 2022|url-status=live}}{{cite news|last=Korn|first=Jennifer|date=November 2, 2022|title=Musk says Twitter will charge $8 a month for account verification after criticism for $19.99 plan|url=https://www.cnn.com/2022/11/01/tech/musk-twitter-verification-price|publisher=CNN|access-date=November 2, 2022|archive-url=https://web.archive.org/web/20221102023742/https://www.cnn.com/2022/11/01/tech/musk-twitter-verification-price|archive-date=November 2, 2022|url-status=live}}{{cite news|last=Binoy|first=Rhea|date=November 5, 2022|title=Musk's Twitter updates app to start charging $8 for blue checkmark|url=https://www.reuters.com/technology/twitter-launches-8-monthly-subscription-with-blue-checkmark-2022-11-05/|publisher=Reuters|access-date=November 5, 2022|archive-url=https://web.archive.org/web/20221105220639/https://www.reuters.com/technology/twitter-launches-8-monthly-subscription-with-blue-checkmark-2022-11-05/|archive-date=November 5, 2022|url-status=live}} and laid off a significant portion of the company's staff.{{cite news|last1=Conger|first1=Kate|last2=Mac|first2=Ryan|date=November 4, 2022|title=Elon Musk Begins Layoffs at Twitter|url=https://www.nytimes.com/2022/11/03/technology/twitter-layoffs-elon-musk.html|work=The New York Times|access-date=November 4, 2022|archive-url=https://web.archive.org/web/20221104135035/https://www.nytimes.com/2022/11/03/technology/twitter-layoffs-elon-musk.html|archive-date=November 4, 2022|url-status=live}}{{cite news|last=Picchi|first=Aimee|date=November 4, 2022|title=Elon Musk set to fire roughly half of Twitter's workers|url=https://www.cbsnews.com/news/elon-musk-3700-twitter-job-cuts-half-of-employees/|publisher=CBS News|access-date=November 4, 2022|archive-url=https://web.archive.org/web/20221103225020/https://www.cbsnews.com/news/elon-musk-3700-twitter-job-cuts-half-of-employees/|archive-date=November 3, 2022|url-status=live}} Musk lessened content moderation, including reinstating accounts like The Babylon Bee.{{cite news|last1=Zakrewski|first1=Siddiqui|last2=Faiz|first2=Siddiqui|last3=Menn|first3=Joseph|date=November 22, 2022 |title=Musk's 'free speech' agenda dismantles safety work at Twitter, insiders say|newspaper=The Washington Post |url=https://www.washingtonpost.com/technology/2022/11/22/elon-musk-twitter-content-moderations/ |access-date=January 19, 2023 |archive-date=November 22, 2022 |archive-url=https://web.archive.org/web/20221122180848/https://www.washingtonpost.com/technology/2022/11/22/elon-musk-twitter-content-moderations/|url-status=live}}{{cite magazine|last=Ecarma|first=Caleb|date=November 21, 2022|title=We're Officially in the Elon Musk Era of Content Moderation|url=https://www.vanityfair.com/news/2022/11/elon-musk-twitter-content-moderation|magazine=Vanity Fair|access-date=December 12, 2022|archive-date=January 10, 2023|archive-url=https://web.archive.org/web/20230110185916/https://www.vanityfair.com/news/2022/11/elon-musk-twitter-content-moderation|url-status=live}} The Southern Poverty Law Center (SPLC) noted that Twitter has verified numerous extremists;{{cite web |author=Wilson, Jason |date=November 16, 2022 |title=Twitter Blesses Extremists With Paid 'Blue Checks' |url=https://www.splcenter.org/hatewatch/2022/11/16/twitter-blesses-extremists-paid-blue-checks |url-status=live |archive-url=https://web.archive.org/web/20221127180046/https://www.splcenter.org/hatewatch/2022/11/16/twitter-blesses-extremists-paid-blue-checks |archive-date=November 27, 2022 |access-date=November 29, 2022 |publisher=Southern Poverty Law Center}} hate speech also increased on the platform after his takeover.{{Cite magazine |last=Knight |first=Will |date=November 25, 2022 |title=Here's Proof Hate Speech Is More Viral on Elon Musk's Twitter |url=https://www.wired.com/story/heres-proof-hate-speech-is-more-viral-on-elon-musks-twitter/ |url-status=live |archive-url=https://web.archive.org/web/20221213125832/https://www.wired.com/story/heres-proof-hate-speech-is-more-viral-on-elon-musks-twitter/ |archive-date=December 13, 2022 |access-date=November 25, 2022 |magazine=Wired}}{{cite news |title=Elon Musk promotes transphobic content as hate speech surges on his far-right platform |url=https://www.independent.co.uk/news/world/americas/elon-musk-twitter-transgender-hate-speech-b2351923.html |url-status=live |archive-url=https://web.archive.org/web/20230807120600/https://www.independent.co.uk/news/world/americas/elon-musk-twitter-transgender-hate-speech-b2351923.html |archive-date=August 7, 2023 |access-date=August 5, 2023 |work=The Independent}}
In December 2022, Musk released internal documents relating to Twitter's moderation of Hunter Biden's laptop controversy in the lead-up to the 2020 presidential election.{{cite magazine|last1=Marshall|first1=Aarian|last2=Hoover|first2=Amanda|date=December 3, 2022|title=The Twitter Files Revealed One Thing: Elon Musk Is Trapped |url=https://www.wired.com/story/the-twitter-files-revealed-one-thing-elon-musk-is-trapped/|magazine=Wired|access-date=December 3, 2022|archive-url=https://web.archive.org/web/20221213125850/https://www.wired.com/story/the-twitter-files-revealed-one-thing-elon-musk-is-trapped/|archive-date=December 13, 2022|url-status=live}} Comments on these internal documents by journalists Matt Taibbi, Bari Weiss, Michael Shellenberger and others were posted on Twitter as the Twitter Files. Musk and many Republicans alleged the documents showed that the Federal Bureau of Investigation (FBI) had engaged in government censorship by ordering Twitter to suppress a New York Post story about the laptop. Upon review of the documents, Taibbi said he had found no evidence to support the allegation, and Twitter attorneys denied the allegation in a subsequent court filing.{{cite news |last1=Perez |first1=Evan |last2=O'Sullivan |first2=Donie |last3=Fung |first3=Brian |date=December 23, 2022 |title=No directive: FBI agents, tech executives deny government ordered Twitter to suppress Hunter Biden story |url=https://edition.cnn.com/2022/12/23/politics/twitter-files-elon-musk-fbi-hunter-biden-laptop/index.html |url-status=live |archive-url=https://web.archive.org/web/20240321010301/https://edition.cnn.com/2022/12/23/politics/twitter-files-elon-musk-fbi-hunter-biden-laptop/index.html |archive-date=March 21, 2024 |access-date=April 15, 2024 |publisher=CNN |quote=Matt Taibbi, one of the journalists Musk tapped this month to comb through Twitter internal messages for evidence of free speech violations, said himself on December 2 that "there is no evidence – that I've seen – of any government involvement in the laptop story."}}{{cite news |last1=Fung |first1=Brian |date=June 6, 2023 |title=Twitter's own lawyers refute Elon Musk's claim that the 'Twitter Files' exposed US government censorship |url=https://www.cnn.com/2023/06/06/tech/twitter-files-lawyers/index.html |url-status=live |archive-url=https://web.archive.org/web/20230607011150/https://www.cnn.com/2023/06/06/tech/twitter-files-lawyers/index.html |archive-date=June 7, 2023 |access-date=June 7, 2023 |publisher=CNN|quote=Now, though, Twitter's own lawyers are disputing those claims in a case involving former President Donald Trump — forcefully rejecting any suggestion that the Twitter Files show what Musk and many Republicans assert they contain. In a court filing last week, Twitter's attorneys contested one of the most central allegations to emerge from the Twitter Files: that regular communications between the FBI and Twitter ahead of the 2020 election amounted to government coercion to censor content or, worse, that Twitter had become an actual arm of the US government.}} The United States House Committee on the Judiciary held hearings on the Twitter Files on March 9, 2023, at which Taibbi and Shellenberger gave testimony.Brooks, Emily and Rebecca Klar (2023). '[https://thehill.com/homenews/3892219-weaponization-subcommittee-members-spar-over-twitter-files/ Weaponization' subcommittee members spar over 'Twitter Files] {{Webarchive|url=https://web.archive.org/web/20231122045018/https://thehill.com/homenews/3892219-weaponization-subcommittee-members-spar-over-twitter-files/ |date=November 22, 2023 }}' The Hill (March 9).
In late 2022, Musk promised to step down as CEO after a Twitter poll posted by Musk found that a majority of users wanted him to do so.{{cite news|last=Da Silva|first=Chantal|date=December 19, 2022|title=Twitter users vote for Elon Musk to step down as CEO in poll he launched|url=https://www.nbcnews.com/tech/social-media/twitter-users-vote-elon-musk-quit-ceo-poll-rcna62332|publisher=NBC News|access-date=September 24, 2023|archive-url=https://web.archive.org/web/20230911062931/https://www.nbcnews.com/tech/social-media/twitter-users-vote-elon-musk-quit-ceo-poll-rcna62332|archive-date=September 11, 2023|url-status=live}}{{cite news|last=Allyn|first=Bobby|date=December 20, 2022|title=Elon Musk says he will resign as Twitter CEO once he finds a replacement|url=https://www.npr.org/2022/12/20/1144182209/twitter-elon-musk-resigns#:~:text=Hourly%20News-,Elon%20Musk%20says%20he%27ll%20resign%20as%20Twitter%20CEO—eventually,said%20he%20should%20step%20down.|publisher=NPR|access-date=September 24, 2023|archive-url=https://web.archive.org/web/20230729075448/https://www.npr.org/2022/12/20/1144182209/twitter-elon-musk-resigns#:~:text=Hourly%20News-,Elon%20Musk%20says%20he%27ll%20resign%20as%20Twitter%20CEO—eventually,said%20he%20should%20step%20down.|archive-date=July 29, 2023|url-status=live}} Five months later, Musk stepped down from chief executive officer (CEO) and placed former NBCUniversal executive Linda Yaccarino in the position and transitioned his role to executive chairman and chief technology officer (CTO).{{Cite news|last=Milmo|first=Dan|date=May 11, 2023|title=Elon Musk announces he has found new Twitter CEO|work=The Guardian|url=https://www.theguardian.com/technology/2023/may/11/elon-musk-twitter-new-ceo|access-date=May 11, 2023|archive-date=May 11, 2023|archive-url=https://web.archive.org/web/20230511203332/https://www.theguardian.com/technology/2023/may/11/elon-musk-twitter-new-ceo|url-status=live}}
On November 20, 2023, in a U.S. District Court in Texas, X filed a lawsuit stating that Media Matters for America "manipulated" the X platform, in that it used accounts that followed major brands, and "resorted to endlessly scrolling and refreshing" the feed until it found ads next to extremist posts.Dang, Sheila (2023) "[https://www.reuters.com/legal/x-sues-media-matters-after-report-about-ads-next-antisemitic-content-2023-11-20/ X sues Media Matters after report about ads next to antisemitic content] {{Webarchive|url=https://web.archive.org/web/20231121011933/https://www.reuters.com/legal/x-sues-media-matters-after-report-about-ads-next-antisemitic-content-2023-11-20/ |date=November 21, 2023 }}." Reuters (November 20).
The Wall Street Journal reported in August 2024 that the $13 billion Musk borrowed to buy Twitter "is now considered the worst deal in merger finance that banks have participated in since the 2008 to '09 financial crisis", adding that "the allure of banking Elon Musk, providing capital for him to buy a company, not only would reward them handsomely if things went according to plan" but "you can certainly say things have not gone according to plan".{{cite news |last1=Saeedy |first1=Alexander |title=Lending Elon Musk Money Was A Very Bad Bet |url=https://www.wsj.com/podcasts/the-journal/lending-elon-musk-money-was-a-very-bad-bet/fd3d77fc-cb46-476b-900f-567d72a3e577#:~:text=When%20Elon%20Musk%20bought%20Twitter,when%20they%20made%20those%20loans. |work=The Wall Street Journal |date=August 27, 2024 |access-date=November 19, 2024 |archive-date=November 13, 2024 |archive-url=https://web.archive.org/web/20241113072448/https://www.wsj.com/podcasts/the-journal/lending-elon-musk-money-was-a-very-bad-bet/fd3d77fc-cb46-476b-900f-567d72a3e577#:~:text=When%20Elon%20Musk%20bought%20Twitter,when%20they%20made%20those%20loans. |url-status=live }} The Washington Post reported in September 2024 that the company had lost $24 billion in equity value, "a vaporization of wealth that has little parallel outside the realm of economic or industry-specific crashes, or devastating corporate scandals".{{cite news |last1=Siddiqui |first1=Faiz |title=Musk's Twitter investors have lost billions in value |url=https://www.washingtonpost.com/technology/2024/09/01/musk-twitter-investors-underwater/ |newspaper=The Washington Post |date=September 1, 2024 |access-date=November 19, 2024 |archive-date=October 1, 2024 |archive-url=https://web.archive.org/web/20241001222847/https://www.washingtonpost.com/technology/2024/09/01/musk-twitter-investors-underwater/ |url-status=live }} Two years after the acquisition, Fidelity Investments estimated the value of its stake in X that implied the company had lost 79% of its value.{{cite news |last1=Egan |first1=Matt |title=Elon Musk's X is worth nearly 80% less than when he bought it, Fidelity estimates |url=https://edition.cnn.com/2024/10/02/business/elon-musk-twitter-x-fidelity/index.html |publisher=CNN |date=October 2, 2024}}
The Journal reported in January 2025 that Musk's lead banks hoped to soon begin selling down to other banks the $13 billion they had lent him, at 90 to 95 cents on the dollar. Lead banks typically sell down their exposure immediately after a deal closes, but they had been unable to sell the debt since the Twitter deal closed in October 2022. The paper published a Musk quote from an email he reportedly sent to X employees that month, saying "user growth is stagnant, revenue is unimpressive, and we're barely breaking even," though Musk denied sending the email hours after the article was published online.{{cite news |last1=Baer |first1=Justin |last2=Saeedy |first2=Alexander |last3=Corse |first3=Alexa |title=Wall Street Banks Prepare to Sell Billions of Dollars of X Loans |url=https://www.wsj.com/finance/banking/wall-street-banks-prepare-to-sell-billions-of-dollars-of-x-loans-c609beb1?st=z4fcwC&reflink=desktopwebshare_permalink |work=The Wall Street Journal |date=January 25, 2025}}
Leadership style
File:Bolden_and_Musk_thanked_the_more_than_150_SpaceX_employees.jpg
Musk is often described as a micromanager and has called himself a "nano-manager".{{cite news |last=Kolodny |first=Lora |author-link=Lora Kolodny |date=October 19, 2018 |title=Elon Musk's extreme micromanagement has wasted time and money at Tesla, insiders say |url=https://www.cnbc.com/2018/10/19/tesla-ceo-elon-musk-extreme-micro-manager.html |url-status=live |archive-url=https://web.archive.org/web/20220524145537/https://www.cnbc.com/2018/10/19/tesla-ceo-elon-musk-extreme-micro-manager.html |archive-date=May 24, 2022 |access-date=July 4, 2022 |publisher=CNBC}} The New York Times has characterized his approach as autocratic.{{Cite news |last1=Mac |first1=Ryan |last2=Metz |first2=Cade |last3=Conger |first3=Kate |date=May 3, 2022 |title='I Don't Really Have a Business Plan': How Elon Musk Wings It |url=https://www.nytimes.com/2022/05/03/technology/elon-musk-twitter-plan.html |url-access=subscription |url-status=live |archive-url=https://web.archive.org/web/20220628162903/https://www.nytimes.com/2022/05/03/technology/elon-musk-twitter-plan.html |archive-date=June 28, 2022 |access-date=May 3, 2022 |work=The New York Times}} Musk does not make formal business plans. He has forced employees to adopt the company's own jargon and launched ambitious, risky, and costly projects against his advisors' recommendations, such as removing front-facing radar from Tesla Autopilot. His insistence on vertical integration causes his companies to move most production in-house. While this resulted in saved costs for SpaceX's rocket,{{sfnp|Berger|2021|page=15}} vertical integration (as of 2018) has caused many usability problems for Tesla's internal corporate software.{{Update inline|date=July 2024|reason=This comment is from 2018.}}
Musk's handling of employees—whom he communicates with directly through mass emails—has been characterized as "carrot and stick", rewarding those "who offer constructive criticism" while also being known to impulsively threaten, swear at, and fire his employees.{{sfnp|Berger|2021|page=25}}{{cite news |last=Kolodny |first=Lora |author-link=Lora Kolodny |date=November 19, 2021 |title=Read the emails Elon Musk sent Tesla employees about music on the job and following directions |url=https://www.cnbc.com/2021/11/19/elon-musk-emails-at-tesla-in-october-2021-music-direct-orders.html |url-status=live |archive-url=https://web.archive.org/web/20220704160805/https://www.cnbc.com/2021/11/19/elon-musk-emails-at-tesla-in-october-2021-music-direct-orders.html |archive-date=July 4, 2022 |access-date=July 4, 2022 |publisher=CNBC}}{{cite magazine |last=Duhigg |first=Charles |date=December 13, 2018 |title=Dr. Elon & Mr. Musk: Life Inside Tesla's Production Hell |url=https://www.wired.com/story/elon-musk-tesla-life-inside-gigafactory/ |url-status=live |archive-url=https://web.archive.org/web/20210321221557/https://www.wired.com/story/elon-musk-tesla-life-inside-gigafactory/ |archive-date=March 21, 2021 |access-date=April 25, 2021 |magazine=Wired}} Musk said he expects his employees to work for long hours, sometimes 80 hours per week.{{sfnp|Berger|2021|page=18}} He has his new employees sign strict non-disclosure agreements and often fires in sprees,{{Cite news |date=November 14, 2022 |title=Is the world's richest person the world's worst boss? What it's like working for Elon Musk |url=https://www.latimes.com/business/story/2022-11-14/elon-musk-toxic-boss-timeline |url-status=live |archive-url=https://web.archive.org/web/20221116023809/https://www.latimes.com/business/story/2022-11-14/elon-musk-toxic-boss-timeline |archive-date=November 16, 2022 |access-date=November 16, 2022 |work=Los Angeles Times}} such as during the Model 3 "production hell" in 2018. In 2022, Musk revealed plans to fire 10 percent of Tesla's workforce, due to his concerns about the economy.{{cite news |date=June 3, 2022 |title=Elon Musk feels 'super bad' about economy, needs to cut 10% of Tesla jobs |url=https://www.cnbc.com/2022/06/03/feeling-super-bad-about-economy-musk-wants-to-cut-10percent-of-tesla-jobs.html |url-status=live |archive-url=https://web.archive.org/web/20220628125031/https://www.cnbc.com/2022/06/03/feeling-super-bad-about-economy-musk-wants-to-cut-10percent-of-tesla-jobs.html |archive-date=June 28, 2022 |access-date=July 6, 2022 |publisher=CNBC}} That same month, he suspended remote work at SpaceX and Tesla and threatened to fire employees who do not work 40 hours per week in the office.{{cite news |last=Mac |first=Ryan |date=June 1, 2022 |title=Elon Musk to Workers: Spend 40 Hours in the Office, or Else |url=https://www.nytimes.com/2022/06/01/technology/elon-musk-tesla-spacex-office.html |url-access=subscription |url-status=live |archive-url=https://web.archive.org/web/20220601161004/https://www.nytimes.com/2022/06/01/technology/elon-musk-tesla-spacex-office.html |archive-date=June 1, 2022 |work=The New York Times}} He laid off more than 10 percent of the Tesla workforce in early 2024.
Musk's leadership has been praised by some, who credit it with the success of Tesla and his other endeavors, and criticized by others, who see him as callous and his managerial decisions as "show[ing] a lack of human understanding".{{refn|callous...
- {{cite magazine |author=Bilton |first=Nick |date=November 10, 2020 |title=Elon Musk's Totally Awful, Batshit-Crazy, Completely Bonkers, Most Excellent Year |url=https://www.vanityfair.com/news/2020/11/elon-musks-totally-awful-batshit-crazy-most-excellent-year |url-status=live |magazine=Vanity Fair |archive-url=https://web.archive.org/web/20210129145435/https://www.vanityfair.com/news/2020/11/elon-musks-totally-awful-batshit-crazy-most-excellent-year |archive-date=January 29, 2021 |access-date=April 25, 2021 }}
- Vance (2017), p. 340. "Elon's worst trait by far, in my opinion, is a complete lack of loyalty or human connection. Many of us worked tirelessly for him for years and were tossed to the curb like a piece of litter without a second thought. Maybe it was calculated to keep the rest of the workforce on their toes and scared; maybe he was just able to detach from human connection to a remarkable degree. What was clear is that people who worked for him were like ammunition: used for a specific purpose until exhausted and discarded."
- {{cite news |last=Wong |first=Julia Carrie |author-link=Julia Carrie Wong |date=June 13, 2018 |title=Tesla workers say they pay the price for Elon Musk's big promises |work=The Guardian |url=https://www.theguardian.com/technology/2018/jun/13/tesla-workers-pay-price-elon-musk-failed-promises |url-status=live |access-date=April 25, 2021 |archive-url=https://web.archive.org/web/20210323064114/https://www.theguardian.com/technology/2018/jun/13/tesla-workers-pay-price-elon-musk-failed-promises |archive-date=March 23, 2021 |quote=The CEO is known for outsized claims and ambitious goals. But numerous factory workers say he doesn't follow through – and that his leadership sets a troubling tone. }}
- Warzel, Charlie (November 7, 2022). "[https://www.theatlantic.com/technology/archive/2022/11/elon-musk-twitter-poor-management-layoffs-advertisers/672029/ Elon Musk Is Bad at This"] {{Webarchive|url=https://web.archive.org/web/20221231195753/https://www.theatlantic.com/technology/archive/2022/11/elon-musk-twitter-poor-management-layoffs-advertisers/672029/ |date=December 31, 2022 }}. The Atlantic.|name="Callous"}} The 2021 book Power Play: Tesla, Elon Musk, and the Bet of the Century contains anecdotes of Musk berating employees.{{Cite news |last=Mitchell |first=Charlie |title=Sweary tirades and abrupt firings under Elon Musk, new book claims |url=https://www.thetimes.com/business-money/technology/article/sweary-tirades-and-abrupt-firings-under-musk-book-claims-05k9mm526 |url-status=live |archive-url=https://web.archive.org/web/20220531023908/https://www.thetimes.co.uk/article/sweary-tirades-and-abrupt-firings-under-musk-book-claims-05k9mm526 |archive-date=May 31, 2022 |access-date=August 6, 2021 |work=The Times}} The Wall Street Journal reported that, after Musk insisted on branding his vehicles as "self-driving", he faced criticism from his engineers for putting customer "lives at risk", with some{{quantify|date=November 2024}} employees resigning in 2017 in consequence.{{cite news |last1=Dugan |first1=Ianthe Jeanne |last2=Spector |first2=Mike |date=August 24, 2017 |title=Tesla's Push to Build a Self-Driving Car Sparked Dissent Among Its Engineers |url=https://www.wsj.com/articles/teslas-push-to-build-a-self-driving-car-sparks-dissent-among-its-engineers-1503593742 |url-access=subscription |url-status=live |archive-url=https://web.archive.org/web/20210416123205/https://www.wsj.com/articles/teslas-push-to-build-a-self-driving-car-sparks-dissent-among-its-engineers-1503593742 |archive-date=April 16, 2021 |access-date=April 25, 2021 |work=The Wall Street Journal}}
Notes
{{notelist}}
References
{{reflist}}
Sources
- {{Cite book |last=Berger |first=Eric |author-link=Eric Berger (journalist) |year=2021 |title=Liftoff |publisher=William Morrow and Company |isbn=978-0-06-297997-1}}
- {{Cite book |last=Jackson |first=Eric M. |author-link=Eric M. Jackson |year=2004 |title=The PayPal Wars: Battles with eBay, the Media, the Mafia, and the Rest of Planet Earth |location=Los Angeles, California |publisher=World Ahead Publishing |isbn=978-0-9746701-0-2 |ref=Jackson}}
- {{Cite book |last1=Kidder |first1=David |last2=Hoffman |first2=Reid |author-link2=Reid Hoffman |year=2013 |title=The Startup Playbook: Secrets of the Fastest Growing Start-Ups from the founding Entrepreneurs |location=San Francisco, California |publisher=Chronicle Books |isbn=978-1-4521-0504-8 |ref=Kidder}}
- {{Cite book |last=Vance |first=Ashlee |author-link=Ashlee Vance |year=2017 |orig-date=2015 |title=Elon Musk: Tesla, SpaceX, and the Quest for a Fantastic Future |edition=2nd |location=New York |publisher=Ecco |isbn=978-0-06-230125-3 |ref=Vance}}
{{Elon Musk}}