He was the first major outside investor in Facebook and contributed early funding to Yelp and LinkedIn , along with a number of other ventures launched by his PayPal peers. Thiel continues to serve as a partner of Founders Fund.
Thiel has also drawn criticism in recent years for his support of President Donald Trump and for secretly funding Hulk Hogan's lawsuit against Gawker Media, which resulted in the company shutting down Gawker and selling the company's assets. Thiel is also dabbling in the growing cryptocurrency market. Levchin is sometimes called the "consigliere" of the PayPal Mafia — in "The Godfather," a consigliere is an advisor to the boss.
Levchin made significant contributions to PayPal's anti-fraud efforts. Levchin served as the chairman of Yelp from its founding in until July Affirm works like an instant layaway program, allowing consumers to finance online purchases at the point of sale and pay for them over time.
Levchin is also the chairman of Glow , a fertility-tracking app that helps users improve their odds of conceiving. In , he entered into another venture with Thiel, serving as cofounder and partner of Founders Fund. He was appointed by President Trump in January and confirmed in September. Howery is active in several nonprofits and serves as a founding advisor to Kiva , an organization that facilitates loans to low-income entrepreneurs.
Kiva was founded in part by Premal Shah, PayPal's former product manager. In October, the Tesla CEO made headlines for sending a tweet from a SpaceX Starlink satellite, which is part of a program working to provide fast and accessible internet around the world.
In , Musk purchased the X. He's reportedly the person who clued in Peter Thiel to cryogenic preservation , which Thiel has since invested in heavily.
Nosek sits on the board of Musk's SpaceX as well as ResearchGate, a platform where scientists and researchers can ask questions, follow topics, and review one another's papers. Botha went to school to be an actuary. He said he never planned to get into tech, but when he saw the opportunity in Silicon Valley, his intuition told him it was where he needed to be. Botha sits on the board of more than a dozen companies, including Square , EventBrite, and Weebly.
In a New York Times interview , Peter Thiel referred to Hoffman as PayPal's "firefighter in chief," noting that there were many fires that needed putting out in the company's early days. And although he masquerades as a visionary who derides liberal democracy as too slow and stupid to survive, in practice he has devoted much of his career to building businesses that feed off its governments.
In that sense, his actual legacy is Palantir , a supposedly omnipotent and omniscient corporation that can do magic with data analytics; in fact, it is a humdrum government contractor like the rest of the aerospace and global consultancy firms.
Think of it as Accenture with added halitosis. Reuse this content. In an email to employees, Musk explained his decision to eliminate some "duplication of roles" to cut costs, admitting it was time to take serious steps toward turning a profit. The restructuring appeared to pay dividends, as it was announced that Tesla had met its goal of producing 5, Model 3 cars per week by the end of June , while churning out another 2, Model S sedans and Model X SUVs.
The following February, Musk announced that the company was finally rolling out its standard Model 3. Musk also said that Tesla was shifting to all-online sales, and offering customers the chance to return their cars within seven days or 1, miles for a full refund.
In November , Musk made another splash with the unveiling of the new Tesla Semi and Roadster at the company's design studio. The semi-truck, which was expected to enter into production in before being delayed, boasts miles of range as well as a battery and motors built to last 1 million miles.
The compact crossover, which began arriving for customers in March , has a driving range of miles and a 0 to 60 mph time of 3. The Roadster, also set to be released in , will become the fastest production car ever made, with a 0 to 60 time of 1.
His Tesla Motors Inc. He is a majority shareholder in each entity. In January , Musk launched The Boring Company, a company devoted to boring and building tunnels in order to reduce street traffic. He began with a test dig on the SpaceX property in Los Angeles. In late October of that year, Musk posted the first photo of his company's progress to his Instagram page.
He said the foot tunnel, which would generally run parallel to Interstate , would reach a length of two miles in approximately four months. Funding secured. Several investors filed lawsuits on the grounds that Musk was looking to manipulate stock prices and ambush short sellers with his tweet. The CEO followed up with a letter on the company blog, calling the move to go private "the best path forward.
Six days later, Musk sought to clarify his position with a statement in which he pointed to discussions with the managing director of the Saudi Arabian sovereign wealth fund as the source of his "funding secured" declaration. He later tweeted that he was working on a proposal to take Tesla private with Goldman Sachs and Silver Lake as financial advisers.
The saga took a bizarre turn that day when rapper Azealia Banks wrote on Instagram that, as a guest at Musk's home at the time, she learned that he was under the influence of LSD when he fired off his headline-grabbing tweet. Banks said she overheard Musk making phone calls to drum up the funding he promised was already in place. The news quickly turned serious again when it was reported that Tesla's outside directors had retained two law firms to deal with the SEC inquiry and the CEO's plans to take the company private.
On August 24, one day after meeting with the board, Musk announced that he had reversed course and would not be taking the company private. Among his reasons, he cited the preference of most directors to keep Tesla public, as well as the difficulty of retaining some of the large shareholders who were prohibited from investing in a private company.
Others suggested that Musk was also influenced by the poor optics of an electric car company being funded by Saudi Arabia, a country heavily involved in the oil industry. In August , Musk released a concept for a new form of transportation called the "Hyperloop," an invention that would foster commuting between major cities while severely cutting travel time.
Ideally resistant to weather and powered by renewable energy, the Hyperloop would propel riders in pods through a network of low-pressure tubes at speeds reaching more than mph. Musk noted that the Hyperloop could take from seven to 10 years to be built and ready for use. Nevertheless, the entrepreneur has sought to encourage the development of this idea. After he announced a competition for teams to submit their designs for a Hyperloop pod prototype, the first Hyperloop Pod Competition was held at the SpaceX facility in January During his May 8, appearance on the TV show Saturday Night Live , Musk revealed that he has Asperger's syndrome, a mild form of autism spectrum disorder.
Or at least the first person to admit it," he said. How does neurodevelopment condition manifest itself? Elon Musk has had two wives but is currently unmarried. He ranks as the second richest person on the planet on Forbes ' World Billionaires List.
After PayPal slipped away, Musk turned his attention to an electric-car start-up called Tesla Motors. He works in the areas that he has identified as crucial to our future, specifically the Internet, the transition to renewable energy sources, and space colonization. He has defied critics, disrupted industries, and made advances in all three of these frontiers, via his creation of PayPal, Tesla Motors, SolarCity, and SpaceX—game-changers all, despite their sometimes rocky performance.
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