In 2008, Elon Musk came close to losing everything. Tesla was nearing bankruptcy, SpaceX had suffered multiple failed launches, and both companies were running out of money during the financial crisis.
Musk split his remaining cash between the two companies to keep them alive. A successful SpaceX launch and last-minute funding ultimately saved both businesses.
Today, Tesla and SpaceX are among the most valuable companies in their industries, proving how close success can be to failure.
Follow (@entrepreneursonig) for everything related to entrepreneurs.
Media: 60 Minutes
In 2008, Elon Musk came close to losing everything. Tesla was nearing bankruptcy, SpaceX had suffered multiple failed launches, and both companies were running out of money during the financial crisis.
Musk split his remaining cash between the two companies to keep them alive. A successful SpaceX launch and last-minute funding ultimately saved both businesses.
Today, Tesla and SpaceX are among the most valuable companies in their industries, proving how close success can be to failure.
Follow (@entrepreneursonig) for everything related to entrepreneurs.
Media: 60 Minutes
