Elon Musk, the world’s richest man and now first-ever trillionaire, controls a lot of different businesses.
FILE - Elon Musk attends the finals for the NCAA wrestling championship, March 22, 2025, in Philadelphia. FILE - A SpaceX logo is displayed on a building, May 26, 2020, at the Kennedy Space Center in Cape Canaveral, Fla.
FILE - Tesla vehicles line a parking lot at the company's Fremont, Calif. , factory on Aug. 5, 2025. FILE - Elon Musk, co-founder and chief executive officer of Tesla Inc., speaks during an unveiling event for the Boring Co. Hawthorne test tunnel in Hawthorne, Calif. , on Tuesday, Dec. 18, 2018.
FILE - Elon Musk attends the finals for the NCAA wrestling championship, March 22, 2025, in Philadelphia. Over time, more and more of these ventures have found themselves under the same roof. Musk merged SpaceX — which went public on Friday — with his artificial intelligence company xAI. But he still holds the CEO role at several corporations today, in addition to other various executive titles or ownership stakes.
Musk is CEO of SpaceX, which he founded in 2002. The company has grown far beyond rockets. It owns satellite communications service Starlink, a big source of cash for the company that generatedBoth xAI and X are money losers .
Nonetheless, SpaceX — which lost $2.6 billion overall from operations last year — was able to whip up enough market hype to debut with the biggest initial public offering in history on Friday, closing at just below $161 per share, or a total market value of $2.1 trillion. Some think that price tag significantly overvalues the company.
SpaceX has promised it will become a leader in AI and one day help make human life multiplanetary — with lofty, and at times sci-fi sounding, goals that range from putting data centers in space to colonizing Mars. But the bulk of that hinges on unproven technology and massive capital needs. Tesla has struggled with rising competition in the EV space. Last year, the company lost its crown as the world’s largest EV maker to China’s BYD.
Sales were also bruised, but Musk has repeatedly shrugged off troubles — emphasizing that Tesla’s future lies less in car sales than getting people tofor homes and businesses. And it's also been in the solar energy business for about a decade with it purchase of SolarCity, whichMusk and two of his cousins. Tesla went public in 2010, and went on to join the trillion dollar club on the S&P 500. Its market cap currently stands around $1.5 trillion.
The Boring Company Musk also founded The Boring Company, a decade-old tunnel digging and underground transportation business. The Boring Company is behind projects like the “Vegas Loop” — a network of underground, Tesla-hailing tunnels that first opened around around the Las Vegas Convention Center in 2021.
It's promised to deliver a network of high speed transit — with plans to also make tunnels inof breaking multiple safety and environmental requirements in Las Vegas, where its full route is still unfinished, and other criticism from someCopyright 2026 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission.
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