Elon Musk Invested Last Funds in Tesla, Securing $40 Million Funding on Christmas Eve 2008 After $250M eBay Payout

Dec 25, 2024, 12:13 PM

On December 24, 2008, Elon Musk made a pivotal decision to invest his last funds into Tesla, which was on the brink of bankruptcy. The company secured a crucial $40 million funding round that day, just three days before it faced potential collapse. This funding was instrumental in keeping Tesla afloat during a financially challenging period, coinciding with SpaceX's acquisition of a contract with NASA on December 23, 2008. Musk's earlier financial success included a $250 million payout from eBay's $1.5 billion acquisition of PayPal in 2002, marking the beginning of his entrepreneurial journey.