True story of Elon Musk
Elon Musk risked his entire fortune to make Tesla the success it is today. He made a life-changing $180 million when he sold his share in PayPal to eBay. But rather than living a life of luxury, Musk poured his $180 million payout into his three new companies: Tesla, SpaceX, and SolarCity.
Despite the $180 million payday, Musk completely ran out of money to live. In 2008, he found himself in divorce proceedings and living off loans from friends. Despite being a newly minted millionaire, all his money was tied up in Tesla and SpaceX.
Speaking in a candid interview, Musk said that 2008 was the worst in his life. “I remember waking up the Sunday before Christmas in 2008 and thinking to myself, ‘man, I never thought I was someone who could ever be capable of a nervous breakdown.’ I felt this is the closest I’ve ever come. Because it seemed pretty, pretty dark.”
At the time, SpaceX was in dire straights after three failed launches. Tesla was also “haemorrhaging money” trying to get the Tesla Roadster to market. Musk’s worst year ever was saved in the final stretches by NASA. The space agency offered Musk a $1.5 billion contract two days before Christmas. On Christmas Eve, Tesla investors also agreed to throw more money at the project. The lifeline for both projects helped push Elon Musk towards billionaire status. Two years later, Tesla debuted on the stock market and the rest is history.