WHEN HE HAD BEEN SUFFERING ........

1. NAME – MR. DANISH RAZA KHAN
COLLEGE – PUNE INSTITUTE OF BUSINESS MANAGEMENT
SECTION - OTPB40

2. When Elone Musk had to choose to save either SPACEX OR TESLA ?

3. Back in 2008, during the
global financial crises,
Elone Musk both
compainies SpaceX and
Tesla were struggling.
Both companies didn`t quit
have their products worked
out and were running very
low on cash.

4. Both the companies were
in desperate need of fund
to survive .
Elone musk felt he didn`t
have enough money back
than to save
both the companies and
had to make a really
tough decision.

5. He could either pick SpaceX or Tesla or split the money between
them. If he split the money, it may be both the companies would die.
If he gave the moey to just one company , the probability of it
surviving was greater, but then it would mean crertain death for the
other company.

6. Musk was also going through a very public divorce at that time and
facing a lot of criticism from media.
He was experiencing a lot of self doubt and was extermly frustrated
with his life.

7. • But he didn` give up ! He
begain knocking on every door
he could , trying to close down
extra money for his two
companies

8. Finally , he convinced NASA to give SpaceX a $1.6 billion
contract , sold some of his personal investment to rise
more and received $40 million in funding from Tesla
investrs on Christmas Eva.
Both hus companies received much needed funds and were
saved from almost going bankrupt.

9. Fast forword to today , Elone Musk is the 2nd richest man on the
planet with a net worth of $164 billion . SpaceX is valued at $74
billion and Tesla valued at $550 bollion.
Also , Yesla and SpaceX are playimg important roles in solving
climate change and making mankind into a multi-planetry species
respectively.