At one time, Elon Musk refused a full salary as head of Tesla, preferring to receive a reward in the form of options to buy shares at a fixed price. This has already allowed him to bail out at least $ 11 billion in this half of the year alone, but he claims that he is using the money to accelerate the colonization of Mars.
Tesla founder Elon Musk entered into another correspondence on Twitter. Musk decided to give up his salary as the CEO of the company back in 2018, but as he himself admits, then he did not expect that the shares would rise in price so quickly and so strongly. In any case, Elon Musk promised to spend the proceeds from the sale of the shares that he received under this scheme, mainly on preparing the space flight of the first people to Mars in the next two decades.
Musk also made another interesting confession. According to him, in the period from mid-2017 to mid-2019, when Tesla was actively ramping up production of the Model 3 electric car, the company was closest to bankruptcy in its entire history. In fact, as Musk explained, it was separated from bankruptcy by a month’s supply of working capital. The most curious thing is that Tesla’s management at that time continued to declare from the high rostrum that the company would have enough own funds to increase the production of Model 3, and the additional capital raised in the market acted only as a “safety cushion” in case of unforeseen changes in market conditions.
The company had a difficult time during the downtime of conveyors in California at the first stage of the pandemic, but it ended the last quarter with operating profit, like the four previous ones. Tesla does not lose hope to deliver about 500 thousand electric vehicles by the end of this year, and also expects to multiply the volume of production of this type of product in the coming years.
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