Elon Musk is today the richest man on the planet thanks to his companies Tesla and SpaceX . However, there was a time when the South African entrepreneur was on the verge of declaring bankruptcy after injecting almost all his capital into the automaker and it was unable to raise.
Tesla Silicon Valley Club vía Twitter
A video posted by the Tesla Silicon Valley Club Twitter account shows Musk in 2008 – a year that he himself describes as the worst of his life – where the automaker was running out of cash.
The $ 180 million Musk made from the sale of PayPal to eBay in 2002 was gone, having “staked it all” on SpaceX and Tesla , according to Space.com .
In the video Musk talks about how he was making minimum wage and that every penny that came into the company was being reinvested to improve electric car technology.
He also says that the price of early cars is so high because that was the way to fund research to eventually develop cheaper models.
Musk himself reacted to the tweet by saying “Wow, 13 years ago.”
You can watch the video here:
Wow, 13 years ago
– Elon Musk (@elonmusk) October 27, 2021
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