Elon Musk Tesla, SpaceX, SolarCity– What is his thinking- What is common in these?
Elon Musk at TED conference in Long Beach, CA
Elon Musk (born 28 June 1971) is a South African entrepreneur who later moved to the USA. He is best known for founding SpaceX and for co-foundingTesla Motors and PayPal (originally X.com). At SpaceX he is the CEO and Chief Designer and at Tesla Motors he is Product Architect. Musk is also Chairman of SolarCity.
I liked California so much that I decided to move to the United States to start a technology business. Together with my older brother Russell, who had been working in Silicon Valley, we started a company called Everdream that provided software for companies to maintain their computers remotely.
At first, the two of us ran the company from our rented house in Santa Cruz, Calif., and the next year, in 1999, we secured our first funding. Soon after that, our brother Peter, a software engineer, joined the business. Eventually, we realized that our stand-alone business model was not feasible for the long term. In 2007, the company was acquired by one of our corporate partners, Dell Inc.
Even before the sale, we had been working on an idea for a solar business. Our cousin, Elon Musk (our mothers are twins), who founded PayPal, suggested that we investigate clean energy. We started SolarCity on July 4, 2006, to symbolize our commitment to becoming independent of fossil fuels. Elon, who is the chief executive of SpaceX (the Space Exploration Technologies Corporation), and of the all-electric car company Tesla Motors,is chairman of SolarCity.
We decided to build on our expertise in providing remote services and to focus on distributing solar energy. We install solar panels free, then sell the energy they generate to customers, often at a lower rate than they pay their utility providers. We have more than $1.7 billion in backing from investors including banks and companies like Honda North America and Google. We have grown to more than 2,800 employees in 14 states. Last December, SolarCity began trading publicly.