Martin Eberhard Co-founder of Tesla Net worth: $500 million (estimated) Martin Eberhard, who co-founded Tesla, has been at odds with the company's current CEO and the world's richest. Eberhard was eventually "voted off the island," he said, resulting in a contentious lawsuit and eventual settlement. Er grndete 2003 gemeinsam mit Marc Tarpenning den US-Elektroautokonzern Tesla Motors, dessen CEO er bis zum 13. Language links are at the top of the page across from the title. Tom Gardner Net Worth 2023: A Finance Genius or a Lucky Fool? Of course I could not imagine a $1 trillion valuation!. The fourth investor to join the team was Elon Musk, followed shortly by JB Straubel. Going toe-to-toe, Musk has achieved a much greater net worth than Straubel or any of the other three Tesla co-founders. Eberhard, meanwhile, sold much of his stake after being pushed out of Tesla in 2007, before the Roadsters launch. This is why he decided to leave. He found out about and attempted to purchase a prototype EV sports car called the AC Propulsion tzero. He is the co-founder of Nuvomedia, which created the first e-book, and he had an interest in sports cars. And its first CEO wasn't Musk, it was Martin Eberhard. Tarpenning was raised in Sacramento, Calif., and earned a bachelors degree (1985) in computer science from the University of California, Berkeley. Earlier this year, the men were interviewed by CNBC, and while Eberhard was unable to talk about his exit due to a nondisclosure agreement, you could sense he isnt a fan of Musk. Its crucial that we get off of fossil fuels, and Tesla has been the major driver of that, which is what we had hoped for from the beginning. [6], Eberhard began his career as an electrical engineer at Wyse Technology, where he designed the WY-30 ASCII computer terminal as his first product. An electrical engineer and inventor at heart, Eberhard is working on technology to make electric vehicle batteries more affordable than they are today, without sacrificing safety, power or quality. In the year 2010, Martin confirmed that he was doing work with the company Volkswagen. During this period, Tesla also revealed prototypes of its first car to the public. However, the company needed funds and thats where Musk came in with seed capital. He had an interest in sports cars but was concerned about the dependence on oil imports and so wanted to develop an electric car prototype. Tesla founders: Martin Eberhard and Marc Tarpenning Founded as Tesla Motors, Tesla was incorporated on July 1, 2003, by Martin Eberhard and Marc Tarpenning. Of course I could not imagine a $1 trillion valuation!. This includes both his past earnings and current investments. While he is still listed as a partner at Wardenclyffe Partners LLC, in January 2022 he updated his profile to "retired" and "enjoying life.". He was born on 15th May in the year 1960 in Berkeley in California. founder stories, design articles, and startup deep dives that inspire your entrepreneurial journey. Tesla cofounder Martin Eberhard at a conference in New Delhi in February 2019. Though he is an extremely wealthy man, Marc Tarpenning net worth has been kept off the Forbes list of richest people in the world, on Bloomberg and Forbes billionaires list. As of 2023, Martin Eberhard has a net worth of $500 million. Martin Eberhard Net Worth & Career Martin Eberhard's Wife & Personal Life Martin Eberhard, JB Straubel, Marc Tarpenning, and Ian Wright: The Other Founders Of Tesla Martin Eberhard is pictured here. in computer engineering from the University of Illinois Urbana-Champaign in 1982 and an M.S. As he told Forbes, When I got kicked out of Tesla, I had no money I mean, I really had no money. Eberhard co-founded Network Computing Devices in 1987, where he served as chief engineer through its IPO on 1992. Early-Stage investing in interesting and meaningful startups. [3][5][11] Tarpenning then developed software and firmware products for several companies, including Seagate Technology and Bechtel, and later served as vice president of engineering at Packet Design, a network technology company. Here's a look at the fortune Eberhard amassed from his business ventures and why he received backlash from Musk despite his contribution to building the Tesla empire. While every effort has been made to follow citation style rules, there may be some discrepancies. 2023 CNBC LLC. Marc Tarpenning (born June 1, 1964) is an American engineer and technology entrepreneur who is the co-founder of Tesla Inc. with Martin Eberhard in 2003. Despite his falling out with the Tesla board, Eberhard moved on and worked for other well-known companies like Volkswagen. Eberhard, Tarpenning, and Wright were all forced out early on, and it wasn't until a lawsuit settlement in 2009 between Eberhard and Tesla that all five men were officially named as co-founders of the company. He is worth close to $300 billion on paper, easily making him the world's wealthiest person. Tarpenning then developed software and firmware products for several companies, including Seagate Technology and Bechtel, and later served as vice president of engineering at Packet Design, a network technology company. Let us know if you have suggestions to improve this article (requires login). She also holds a M.A. He then held a number of positions, including electrical engineer at Wyse Technology, vice president of electronics at Belfort Memory International, and chief engineer at Network Computing Devices, which he cofounded. I never figured out what was said about me to those people. Martin Eberhard. Corrections? Whatever my opinion is about Musk, I am still super happy to see the electric car revolution Id like to see the revolution winning. With the right technology choices, it is possible to build electric cars that are actually better cars than their competition. Marc Tarpenning was born in Sacramento, California on June 1, 1964. Its something that I learned personally when I tried to exit my startup well before any potential Series A funding. This brought about the production of the Rocket ebook, a handheld e-reader device. But according to Musk,. Each of them had different reasons. degree in Mass Communications. Eberhard sold most of his Tesla holding in 2007 out of necessity. ravkan language translator; 16mm live steam for sale. Marc Tarpenning is an entrepreneur and engineer from the United States. In 1985, he began studying computer science and graduated from the University of California, Berkeley. August 2007 war. However, we do know that he made at least $151 million from the sale of NCI to the Oracle Corporation in 1999. Marc Tarpenning and Martin Eberhard during the early days at Tesla Motors. Eberhard and Tarpenning were inspired to create the company after General . The case was settled before going to trial for an undisclosed amount of money. He has founded inEvit during 2017, but Seres bought the company within a few months. As of 2023, Martin Eberhard net worth is estimated to be around $500 million. People may receive compensation for some links to products and services on this website. Eberhard and Tarpenning first met Elon Musk at a meeting for Mars Society members. Naturally, Eberhard consulted a lawyer, and they found the meeting had violated the companys bylaws. So rich that he is worth nearly $100 billion more than Jeff Bezos at the time of writing. Get this delivered to your inbox, and more info about our products and services. On November 30, 2007, Tesla released a press release titled "Martin Eberhard, Co-founder of Tesla Motors, to Transition to Advisory Board. Offers may be subject to change without notice. He described Eberhard as literally the worst person Ive ever worked with in a January 2020 interview for the Third Row Tesla podcast, hosted by Musk fans. Sign up for free newsletters and get more CNBC delivered to your inbox. Electric car upstart Tesla gathered reporters at a Santa Monica Airport hangar on a July afternoon in 2006 to unveil its battery-powered roadster, an audacious, $100,000 two-seater for which few automotive experts saw much hope of success. He is the co-owner of the Tesla company and also a lead scientist at SF Motors. (Hes also preparing to sell 10% of his stake, worth about $15 billion as of Nov. 9, to avoid a massive tax hit as some long-term options mature. Tesla is founded by Martin Eberhard (pictured above) and Marc Tarpenning. martin eberhard and marc tarpenning net worth . He also became the companys second chairman of the board. He served as Tesla's CEO and original chairman until late 2007. As an early Series A investor invited by Tarpenning and Eberhard to invest in the company after they had already founded it Musk would be concerned with his investments. Check Out Elon Musk Taking Delivery Of His First Supercar, That is pretty much what Teslas Master Plan established in 2006, Eberhard also said Musk "compromised Tesla Motors' financial health. Art hur A. Thompson The University of Alabama After reporting a net profit of $311.5 million in the third quarter of 2018 and a net profit of $139.5 . Martin Eberhard made his fortune in the automotive field, and continues to do so. While Eberhard still owns some stock in Tesla, he isnt listed among its top shareholders today. Musk was also present at Teslas debut in 2006, but he assumed a lower profile that day, mainly arguing for the need to shift cars away from gasoline power as quickly as possible. Copyright 2023 Market Realist. [3], After graduating from Berkeley, Tarpenning spent several years working for Textron in Saudi Arabia. degree in computer science in 1985. (That was even before Musk had started his re-usable rocket company, SpaceX.). In August 2007, Eberhard was giving a presentation to the Motor Press Guild. [9] In 1997, Tarpenning and Martin Eberhard founded NuvoMedia, a company that built an early e-book reader, the RocketBook, in 1998. Tesla Motors was founded as an electric carmaker by engineers Martin Eberhard and Marc Tarpenning in 2003. ", "Martin Eberhard and Marc Tarpenning | American entrepreneurs", "Berkeley Innovators Series: Marc Tarpenning, Co-Founder of Tesla Motors", "Tesla co-founder Marc Tarpenning joins Pierre Omidyar's Spero Ventures", https://en.wikipedia.org/w/index.php?title=Marc_Tarpenning&oldid=1124888627, American chief executives in the automobile industry, University of California, Berkeley alumni, American founders of automobile manufacturers, Short description is different from Wikidata, Creative Commons Attribution-ShareAlike License 3.0, This page was last edited on 1 December 2022, at 01:36. It also provided this quote below, which has become one of my all-time favorite quotes. The engineers become CEO and CFO, respectively. Tarpenning owned shares from the very beginning as Teslas co-founder. Eberhard and Tarpenning didn't retain much of Tesla's shares and Musk eventually became the largest stockholder of the company. Additional tests showed that the then $98,000 (later $109,000) sports car could accelerate from 0 to 60 mph (96 km/hr) in less than four seconds and could reach a top speed of 125 mph (200 km/hr). He alleged that Musk pushed him out of the company, publicly disparaged him, and compromised Teslas financial health. He provided some financial and technical support in the conversion of the tzero to lithium-ion batteries. Martin Eberhard (* 15. Tesla was originally founded in San Carlos, California, in 2003, by Martin Eberhard and Marc Tarpenning. Worse than that, I had no possibility of employment for about a year because of a restrictive intellectual property agreement with Tesla. In 2003, he co-founded Tesla Inc. with Martin Eberhard. Tarpenning, these days a partner at Spero Ventures, a Silicon Valley venture capital firm, has said he, too, still owns Tesla stock, but he isnt listed among its top shareholders. Tesla this month became the first carmaker to hit an astonishing $1 trillion valuation, but the CEO who introduced the company to the press 15 years ago didnt become synonymous with the brand. [11] The Tesla Roadster is a battery electric sportscar with 244 miles (393km) (EPA) range. This week, the electric car company signed a new deal with Hertz, which skyrocketed the share price. They both played important roles in the founding of this auto company. I went down to zero cash or sellable assets in 2008/2009, had no house & had to borrow money from friends to pay rent. I sold a good chunk of my stock a long time ago, Eberhard, 61, says from his home in Washington states San Juan Islands. For all the companys success in the electric vehicle space and newfound financial stability, as well as the non-stop attention Musk seeks and generates, Teslas earliest days were marked by a high degree of management and strategic turbulence that left a single cofounder in control. As part of a settlement, he dropped opposition to Musk, former Tesla Chief Technology Officer JB Straubel and Ian Wright, an early engineer with the company, also being called cofounders, in addition to himself and Tarpenning. [19], In 2010, Eberhard confirmed to Autoblog Green that he was doing work with Volkswagen, but no further details were provided. It was, you know, the worst and the best. What I'm happy about is the success of the company. He still had been given no explanation saying he had been voted off the island in a rather rude way.. In the year 2003, he became co-founder and CEO of Tesla Motors in San Carlos in California. Nevertheless, he keeps amassing wealth at a remarkable pace. Martin Eberhard and Marc Tarpenning were co-founders of Tesla, aiming to produce what became the Tesla Roadster. At the same time, a Tesla board meeting was being held without Eberhard present. He is still passionate about the environment and is currently working on technology to make electric vehicle batteries more affordable. [18], Eberhard confirmed in an interview with CNBC in October 2019 that he is still a shareholder of Tesla, and is still rooting for their success. Articles written at the time show that Eberhard claimed Musk set out to rewrite history by falsely claiming that he was the founder or creator of Tesla Motors. Musk accused Eberhard of ruining Teslas financial health. There are two pioneers of Tesla: Martin Eberhard and Marc Tarpenning. He has played a significant role in taking the company to another level. ), I own no Tesla stock now. I had to include that point as its not often it comes up in the profile of an entrepreneur. The company uses, As there are no proper regulations for self-driving in many countries, including the US, Teslas sale is effected by the self-driving restrictions in many areas. 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