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Tesla’s Elon Musk came close to bankruptcy during his time at PayPal. Here’s how he turned it into SpaceX triumph

Livemint

Livemint · 7m ago

Tesla’s Elon Musk came close to bankruptcy during his time at PayPal. Here’s how he turned it into SpaceX triumph

In 2024, Elon Musk was appointed co-lead of the Department of Government Efficiency, marking a shift from his entrepreneurial ventures to government service. A biography by Walter Isaacson revealed that Musk was ousted as CEO of X.com (predecessor of PayPal) in 2000, an incident Musk saw as a blessing in disguise. Retaining equity, Musk earned $250 million when eBay acquired PayPal, which set the stage for founding SpaceX in 2002. Despite early struggles and near bankruptcy, SpaceX succeeded with support from the Founders Fund. Today, SpaceX is at the forefront of space exploration, with NASA relying on the company for critical missions.

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Tesla’s costly AI ambitions helped by earnings rebound

Livemint

Livemint · 8m ago

Tesla’s costly AI ambitions helped by earnings rebound

Elon Musk aims to fund Tesla's ambitious plans for robots and self-driving cars by improving profitability in the core auto business. Tesla's third-quarter results showed cost-cutting efforts and growth in the energy-storage business. Musk wants to increase spending to develop a self-driving Cybercab, AI-powered robots, and more affordable vehicles. However, revenue from the car business has plateaued, and Tesla's profit margins are pressured by lower deliveries and the need for price cuts. Investors are curious about how Musk plans to finance the costly AI research necessary to support Tesla's transformation.

SpaceX to try to ‘catch’ Starship after its 5th test flight: Musk

Inshorts · 1y ago

SpaceX to try to ‘catch’ Starship after its 5th test flight: Musk

SpaceX will try to 'catch' the world's largest and most powerful rocket Starship after it completes its fifth test flight in late July, CEO Elon Musk revealed. Musk was replying to a user who posted a video showing how giant mechanical arms would catch Starship instead of letting it simply land. This may drastically reduce the turnaround time for Starship.

Elon Musk's multi-billion dollar empire under fire from US government- here's why

Economic Times

Economic Times · 6m ago

Elon Musk's multi-billion dollar empire under fire from US government- here's why

Elon Musk is facing numerous federal investigations into his business empire, including Tesla, SpaceX, and Neuralink. Alleged violations range from securities infractions during the Twitter takeover to Tesla's Autopilot safety concerns and Neuralink's animal testing practices. As the Trump administration transitions, concerns arise that Musk’s close ties with Trump might influence the outcome of these probes. However, legal experts argue strong cases may persist despite potential political interference, underscoring challenges in prosecuting Musk effectively.

Musk buys bankrupt parachute company for $2.2 million

Siasat

Siasat · 1y ago

Musk buys bankrupt parachute company for $2.2 million

Elon Musk's SpaceX has purchased parachute maker Pioneer Aerospace for $2.2 million, The Information reported. The company was reportedly acquired by SpaceX after the former's parent firm filed for bankruptcy in Florida. Pioneer, which makes parachutes to assist space vehicles in returning to the Earth, has been a supplier for NASA and SpaceX missions.

DOJ needs to sue itself as it focuses hiring on US citizens: Musk

Twitter · 1y ago

DOJ needs to sue itself as it focuses hiring on US citizens: Musk

Elon Musk responded by suggesting that the US Department of Justice (DOJ) should file a lawsuit against itself. This came after he saw a tweet pointing out that the DOJ's hiring for a Recreational Specialist position at the Bureau of Prisons was restricted to US citizens. Musk found the situation ironic, especially considering that the DOJ had previously sued his company SpaceX, led by him, for allegedly favoring US citizens and permanent residents over refugees in its hiring process. He humorously expressed his reaction by tweeting, "Roflmao...the irony is too much."

Instagram Has Massive Child Exploitation Problem But No Arrest For Zuckerberg: Musk

Internet

Internet · 10m ago

Instagram Has Massive Child Exploitation Problem But No Arrest For Zuckerberg: Musk

Tesla and SpaceX CEO Elon Musk on Sunday came out in support of Telegram Founder Pavel Durov, saying Mark Zuckerberg should instead be arrested for 'massive child exploitation' problem on his Meta-owned Instagram. The billionaire reacted after Russian-born Pavel Durov, founder and owner of the popular encrypted messaging app Telegram, was arrested in France over numerous charges related to his platform, and faces up to 20 years in prison if convicted.

Elon Musk has a NEW name now! Here’s what SpaceX CEO is now called on X | Company Business News

Livemint

Livemint · 6m ago

Elon Musk has a NEW name now! Here’s what SpaceX CEO is now called on X | Company Business News

Elon Musk, CEO of SpaceX, has changed his name to "Kekius Maximus" on the microblogging platform X (formerly Twitter), adopting an imaginative depiction of the "Pepe the Frog" meme as his profile picture. The name "Kekius Maximus" is associated with a newfound memecoin, KEKIUS, which experienced a dramatic surge of over 500% in value following Musk's playful adoption of the moniker. As of Tuesday, its value increased significantly compared to earlier.

Internal SpaceX documents show the sweet stock deals offered to investors like a16z, Gigafund | TechCrunch

TechCrunch · 6m ago

Internal SpaceX documents show the sweet stock deals offered to investors like a16z, Gigafund | TechCrunch

Internal SpaceX documents reveal discounted stock deals for investors like a16z, Gigafund, and others in a May 2022 tender offer. Employees could sell shares at $70 each, much lower than the $270 primary round price, due to common vs. preferred stock differences. Major investors, many close to Elon Musk, include Andreessen Horowitz, Aliya Capital Partners, and Gigafund. The document highlights significant investor perks, including early payouts and liquidation preferences.

Elon Musk gives YouTuber a tour of SpaceX's new 'Starfactory' — take a look

Business Insider

Business Insider · 1y ago

Elon Musk gives YouTuber a tour of SpaceX's new 'Starfactory' — take a look

SpaceX CEO Elon Musk gave a tour of the company's new Starfactory production facility. Speaking to science YouTuber Tim Dodd, Musk showed off the facility located at the Starbase site in south Texas, which he believes will greatly improve rocket production. He revealed plans for serialized production of the Starship rocket, aiming to manufacture up to a thousand of them per year. The tour included a look at the Megabay, which holds three booster rockets, and a close-up of the new Raptor engines. Musk also unveiled the new Starfactory, set to be equipped within three months.

SpaceX could land on Mars in three-four Years: Elon Musk

Economic Times

Economic Times · 1y ago

SpaceX could land on Mars in three-four Years: Elon Musk

SpaceX CEO Elon Musk has announced plans to land humans on Mars within the next three to four years. Musk believes that this ambitious goal is achievable, although there are many challenges to overcome before it can become a reality. SpaceX has been working on its Starship spacecraft, which is designed for deep-space missions, and Musk hopes that it will be able to make the journey to Mars and back.

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