Elon Musk reacts to a 2008 video of him being broke. See Tesla CEO's reaction
Friday, October 29, 2021 | Chimniii Desk
Key Points
- Elon Musk is the world's richest man.
- Tesla Inc's market cap topped $1 trillion on Monday, making CEO Musk the world's richest man.
- In 2008, SpaceX's CEO had to borrow money from friends.
- In the video, the 50-year-old billionaire claimed to work for free and only earn minimal wage.
- He also explained his plans to build high-end vehicles.
Musk video: Tesla Silicon Valley Club posted a 1:08 video in which Musk discusses the future of electric cars.
Elon Musk is the world's richest man. Tesla Inc's market cap topped $1 trillion on Monday, making CEO Musk the world's richest man. Hertz Global Holdings ordered 100,000 Teslas, boosting Musk's fortune by $36.2 billion (2.7 lakh crore).
But Musk's storey was quite different a decade ago. In 2008, SpaceX's CEO had to borrow money from friends. He'd put everything into Tesla and SpaceX. In the same year, the global recession hit, and Musk nearly ran out of funds.
Now, as fortune smiles upon Musk in 2021, a video of the billionaire explaining his business plans has gone viral.
Tesla Silicon Valley Club posted a 1:08 video of Musk explaining the situation in an interview. "Elon Musk addressing electric vehicles in 2008 as Tesla was virtually out of funds," the page said.
"The main point is that when you have a new technology, it takes time to optimise that technology," Musk says in the video.
Tesla's high-end Roadster and other elegant and luxurious cars, he added, went towards developing other technology.
In the video, the 50-year-old billionaire claimed to work for free and only earn minimal wage.
He also explained his plans to build high-end vehicles. According to Musk, opmtimiseing new technology takes time.
"Back then, laptops and phones were pricey," he remarked.
To get to low-cost cars, you must first go to pricey ones, Musk says in a 13-year-old video.
"Wow, 13 years ago," Musk said after watching the footage.