CEO Today Top 50 – Elon Musk
CEO Top 50
Name: Elon Musk
Net worth: Approx. $221 billion Executive pay: $46 billion (Tesla 2024)
Bio: Elon Reeve Musk, born on June 28, 1971, is a prominent businessman and investor recognized for his significant contributions to the space company SpaceX and the automotive company Tesla, Inc. Additionally, he is involved in the ownership of X Corp., previously known as Twitter, and has played a crucial role in establishing The Boring Company, xAI, Neuralink, and OpenAI. With a net worth estimated at US$221 billion as of July 2024, he is considered one of the wealthiest individuals globally.
At the age of 12, Elon Musk taught himself computer programming. He founded SpaceX, an aerospace manufacturer and space transport services company, in May 2002, and is CEO and lead designer today. He also co-founded Tesla Inc. in 2003, an electric vehicle and solar panel manufacturer of which he is its CEO and product architect.
Musk reported that his goals for SpaceX, Tesla and SolarCity revolve around his vision to change the world and humanity moving forward. These goals include the reduction of global warming through the production of sustainable energy and reducing the “risk of human extinction” via the contact and establishment of human inhabitation on Mars.
Elon Musk is frequently referred to as a micromanager and has even labeled himself as a “nano-manager”. The New York Times has characterized his approach as absolutist. Musk does not adhere to formal business plans and has compelled employees to adopt the company’s own jargon. He has also initiated ambitious, risky, and costly projects against the advice of his advisors, such as the removal of front-facing radar from Tesla Autopilot. His insistence on vertical integration has led his companies to move most production in-house. While this has resulted in cost savings for SpaceX’s rocket, it has caused numerous usability problems for Tesla’s internal corporate software as of 2018.
Quote: “Persistence is very important. You should not give up unless you are forced to give up.” – Elon Musk
