Elon Musk, the richest man in the world, revealed that one of the toughest choices he’s had to make in his life was when he had “$30 million dollars left.”
Musk, CEO of Tesla Inc. and SpaceX, revealed that choosing which company to invest his last $30 million in was tough.
In a conversation with screenwriter, producer and director Jonathan Nolan during a SXSW interview titled “Elon Musk Answers Your Questions!”, Musk shared his insights on topics ranging from artificial intelligence (AI) to Mars and business. He delved into his early entrepreneurial years, which ultimately led to the creation of his groundbreaking companies, including how he made $180 million from the sale of PayPal.
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After discussing what a brutal year 2008 was for Musk because of the third consecutive failure of the Falcon rocket for SpaceX and going through divorce, he explained SpaceX and Tesla are “alive by the skin of their teeth.” If things had just gone a little bit the other way, he says both companies would be dead.
“One of the most difficult choices I have ever faced in life was in 2008,” Musk said. “I think I had maybe $30 or $40 million dollars left in 2008 and two choices. I could put it all into one company and then the other company would definitely die. Or split it between the two companies.”
While choosing how to allocate his last $30 million constitutes a major decision, it’s not a narrative that necessarily tugs at the heartstrings or evokes sympathy. The excerpt from the video shared on various social media platforms was edited, turning it into black and white with emotional piano music, adding a touch of satirical drama. It’s fair to say, people in the comments were rather unsympathetic to his struggle.
Musk continued the interview, emphasizing the weight of his dilemma.
“And when you put your blood, sweat and tears into creating something or building something, it’s like a child. So, it’s like which one — am I gonna let one starve to death? I couldn’t bring myself to do it, so I split the money between the two. Fortunately, thank goodness, they both came through.’
According to Bloomberg, SpaceX narrowly secured a game-changing $1.6 billion NASA contract, which provided the company with a significant lifeline, ensuring its stability. Meanwhile, investors came through with $40 million in new funding to rescue Tesla on Christmas Eve, just hours before the company would have exhausted its remaining resources, which were dwindling to just a few hundred thousand dollars.
Now Musk is the richest man in the world, with a net worth of $225.3 billion, reported by Forbes.
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