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Revision as of 15:08, 4 February 2005 by Dschmelzer (talk | contribs) (→Entrepreneurial activities: Add info on fortune)(diff) ← Previous revision | Latest revision (diff) | Newer revision → (diff)Elon Musk (born: 1971, South Africa) is an Internet and space launch entrepreneur.
Entrepreneurial activities
In 1995, Musk deferred doctoral studies on energy physics at Stanford to co-found Zip2 Corporation, which provided online content publishing software for news organizations. In 1999, Compaq's AltaVista division acquired Zip2 for US$341 million in cash and stock options.
In March 1999, Musk co-founded X.com, an online banking company. X.com discontinued its banking service, but the company's Paypal online payment service, which it had acquired in March 2000 as part of its purchase of Confinity, proved highly successful. In February 2001, X.com changed its name to Paypal. In October 2002, Paypal was acquired by eBay for US$1.5 billion in stock. Before its sale, Musk owned 11.7% of Paypal.
In June 2002, Musk founded his third company, Space Exploration Technologies (SpaceX), of which he is currently the CEO and Chief Technology Officer. SpaceX develops and manufactures space launch vehicles, with an emphasis on low cost and high reliability. The company's first two launch vehicles are the Falcon I and Falcon V rockets.
Musk's fortune is estimated at US$328 million.
Philanthropy
Musk is Chairman of the Musk Foundation, which focuses its philanthropic efforts on science education, pediatric health, and clean energy.
Interests
Musk owns a US$1.2M McLaren F1 sports car and a US$250K L39 Soviet trainer airplane.
Education
- Wharton School of Business at the University of Pennsylvania, B.S., Economics
- University of Pennsylvania, B.S., Physics