SpaceX's blockbuster stock market debut has made Elon Musk the world's first trillionaire, but the rocket company is only one part of a sprawling business empire that stretches from electric vehicles and artificial intelligence to brain implants and underground transport systems, according to a Business-Today report.
Over the years, several of Musk's ventures have become increasingly interconnected. Earlier this year, he merged SpaceX with artificial intelligence company xAI. He also continues to hold leadership positions across multiple companies while maintaining ownership stakes in others.
SpaceX: The Trillion-Dollar Rocket Ship
Musk founded SpaceX in 2002 and serves as its chief executive officer. The company has expanded far beyond rockets. It owns satellite communications service Starlink, which generated $4.4 billion in operating income last year. SpaceX also houses social media platform X (formerly Twitter), which Musk acquired for $44 billion in 2022 and later placed under xAI, the maker of the Grok chatbot, according to an AP report cited by Business-Today.
Despite these successes, both xAI and X remain loss-making businesses. xAI lost $6.4 billion from operations last year, while SpaceX reported an overall operating loss of $2.6 billion. Even so, investor enthusiasm helped SpaceX complete the largest IPO in history. The stock closed just below $161 a share on Friday, giving the company a market value of about $2.1 trillion.
Supporters see SpaceX as a future leader in AI and space exploration, with ambitions ranging from orbital data centres to human settlement on Mars. Critics argue that many of those goals depend on unproven technology and significant future investment.
Tesla: Competition and Strategic Pivot
Musk has served as CEO of Tesla since 2008. The electric vehicle maker has faced growing competition, particularly from Chinese automaker BYD, which overtook Tesla last year as the world's largest EV manufacturer. Tesla also faced consumer boycotts linked to Musk's political views, although sales have since recovered.
Musk has repeatedly argued that Tesla's long-term future lies not only in selling vehicles but also in operating self-driving taxi services. The company has also expanded into robotics and solar energy. Tesla entered the solar business through its acquisition of SolarCity, a company founded by Musk and two of his cousins. Tesla went public in 2010 and today has a market capitalisation of about $1.5 trillion, per the AP report.
Neuralink: Connecting Brains to Machines
Musk is also CEO of Neuralink, the brain-computer interface company he co-founded in 2016. Neuralink is developing technology designed to connect the human nervous system with machines. The company is conducting clinical trials involving people with spinal cord injuries, ALS and other conditions. In January, Neuralink said it had 21 trial participants worldwide.
The Boring Company: Tunnels Underground
Musk founded The Boring Company to focus on tunnel construction and underground transport systems. Its best-known project is the Vegas Loop, a network of underground Tesla transport tunnels that opened around the Las Vegas Convention Center in 2021. The company has also proposed tunnel projects in Dubai and Nashville. However, it has faced criticism over environmental and safety issues in Las Vegas, while some local officials in Nashville have also raised concerns.
Financial Snapshot of Key Musk Ventures
| Venture | Key Metric | Value/Loss |
|---|---|---|
| SpaceX (incl. Starlink) | Market cap post-IPO | ~$2.1 trillion |
| SpaceX | Operating loss (last year) | -$2.6 billion |
| Starlink | Operating income (last year) | $4.4 billion |
| xAI (incl. X) | Operating loss (last year) | -$6.4 billion |
| Tesla | Market cap | ~$1.5 trillion |
| Neuralink | Clinical trial participants | 21 |
Early Ventures: The Foundation
Musk's original fortune came from two earlier ventures, Zip2 and PayPal (originally known as X.com). Both companies were sold decades ago, generating about $200 million for Musk. Those proceeds helped fund the creation of SpaceX and supported his early investment in Tesla, laying the foundation for the business empire that would eventually make him the world's first trillionaire.
Next milestone: Investors will watch for SpaceX's first quarterly earnings report as a public company, likely detailing how it plans to narrow its operating losses while capitalizing on Starlink's profitability and the integration of xAI's AI capabilities.
Sources:
