Elon Musk is renowned for his business acumen, unique communication style, and visionary approach to technology. Often regarded as a genius, he is the owner of X (formerly Twitter), as well as the CEO and co-founder of Tesla (TSLA), the leading electric vehicle manufacturer. Additionally, he serves as the CEO and lead designer of SpaceX, the cutting-edge aerospace company.

While Musk has amassed his wealth primarily through his entrepreneurial ventures, a significant portion also stems from strategic passive investments. These investments rank among his top five financial successes.

1. PayPal

In 1999, Elon Musk co-founded X.com, an innovative online financial services and email payment platform. A year later, X.com merged with Confinity and was rebranded as PayPal (PYPL) in 2001. On October 3, 2002, eBay (EBAY) acquired PayPal for $1.5 billion. At the time of the sale, Musk was the largest shareholder, owning 7,109,989 shares, which represented an 11.7% stake in the company. Although Musk no longer holds any shares in PayPal, he leveraged the proceeds from the sale to fuel his investments in groundbreaking ventures like SpaceX, Tesla, and SolarCity.’

2. SpaceX

Elon Musk founded Space Exploration Technologies Corp., widely known as SpaceX, in 2002 with the mission to revolutionize space technology. The company aims to develop spacecraft capable of transporting humans to Mars and beyond within our solar system. In 2006, NASA awarded SpaceX a significant contract, marking the beginning of a fruitful partnership. In 2008, SpaceX successfully launched Falcon 1, becoming the first private company to send a liquid-propellant rocket into orbit. The following year, its Dragon spacecraft made history by reaching the International Space Station (ISS). In 2012, NASA granted SpaceX a second contract to transport crew members between the ISS and Earth.

SpaceX has also played a crucial role in NASA's Artemis program, which aims to return humans to the Moon and eventually send them to Mars. In 2021, SpaceX secured its first Artemis contract worth $2.9 billion, tasked with transporting astronauts from lunar orbit to the Moon's surface using its Starship vehicles. A subsequent contract was awarded in 2022 for an additional $1.15 billion.

3. DeepMind Technologies

DeepMind Technologies, an innovative artificial intelligence (AI) company, was founded in late 2010, with Elon Musk as one of its prominent angel investors. In January 2014, Google (GOOGL) announced the acquisition of DeepMind for an undisclosed sum. Musk's interest in DeepMind stemmed from his concerns about AI potentially surpassing human intelligence; rather than seeking financial gain, he aimed to stay informed about the rapid advancements in AI technology.

DeepMind has concentrated much of its research on deep reinforcement learning, an AI approach that merges deep learning—primarily used for pattern recognition—with reinforcement learning. This technique, which utilizes reward signals (like scores in games), was detailed in a groundbreaking 2013 white paper. In 2023, Google streamlined its AI efforts by merging DeepMind with its Brain team from Google Research, creating a new entity known as Google DeepMind. This collaboration has enabled Google to enhance several of its core products, including Search, YouTube, and Gmail, while continuing to push the boundaries of AI development.

4. Tesla Motors

Although Elon Musk was not a founding member of Tesla, he played a pivotal role in the company's early development by leading a significant financing round in 2004. By 2008, he transitioned from a board member to the CEO of Tesla, all while continuing his leadership at SpaceX.

Tesla made a splash on the stock market with its initial public offering (IPO) on June 28, 2010, offering shares at $17 each. Since then, the stock price has soared, peaking at around $400. The company's mission is to accelerate the world’s transition to sustainable transportation by bringing mass-market electric vehicles to consumers.

In November 2017, Tesla announced its ambitious plans for fully electric tractor-trailer trucks, generating excitement and preorders from major companies like United Parcel Service (UPS) and PepsiCo. Tesla's electric vehicle lineup includes the luxury Model S, the versatile Model Y, the family-friendly Model X, the affordable Model 3, and the high-performance Roadster supercar, all contributing to a new era of sustainable transportation.

5. The Boring Company

In 2017, Elon Musk founded The Boring Company, an innovative infrastructure and tunnel construction firm aimed at tackling one of urban life’s most persistent challenges: traffic congestion. Musk's vision is rooted in the idea that the solution to gridlock lies not above ground, but beneath it. By harnessing the vast underground spaces, The Boring Company seeks to revolutionize transportation while dramatically reducing tunneling costs and enhancing efficiency.

In March 2019, the Las Vegas Convention and Visitors Authority approved a $48.6 million proposal for The Boring Company to construct the LVCC Loop, an underground transit system that connects various points beneath the Las Vegas Convention Center. This ambitious project features three stations and a pedestrian tunnel, designed to streamline movement within the bustling venue.

The LVCC Loop officially opened its doors in April 2021, marking a significant milestone for the company. Beyond Las Vegas, The Boring Company has plans for additional projects in Hawthorne, California, further expanding its vision of a future where efficient underground transportation becomes a reality.