Technology mogul Elon Musk has made huge waves in Southern California with his success at Hawthorne-based commercial rocket and spaceflight company SpaceX. However, Musk also has his hands in a number of other companies, including Foster City-based SolarCity, which just had a successful IPO this morning. SolarCity is a provider of power purchase agreements (PPAs), used to finance solar power installations, which just debuted on the NASDAQ Global Market as SCTY. SolarCity debuted at $8.00 per share and was trading as high as $11.00 in morning trading Thursday. SolarCity is not Musk's first successful IPO: he also founded Tesla Motors (IPO in June of 2010), and sold PayPal way back in 2002 for $1.5 billion. Musk said on Twitter that he believes SpaceX will go public at some point saying that "it should ultimately be owned primarily by the public".
Top NewsThursday, December 13, 2012
Elon Musk Gets IPO At SolarCity; SpaceX Next