Get All Access for $5/mo

Tesla Was a Month Away From Bankruptcy During Model 3 Production, Elon Musk Tweets The always-candid CEO overshared on social media again.

By Jessica Thomas

Bloomberg | Getty Images

Tesla's financial struggles have been the subject of many a news story over the past several years, but founder Elon Musk shared Tuesday that the situation has been more dire than the public knew at the time. In a series of Tweets, Musk revealed that Tesla was "about a month" away from bankruptcy between mid-2017 and mid-2019 while it was ramping up Model 3 production.

Related: Elon Musk's Net Worth Passes Warren Buffett's After Tesla Stock Reaches All-Time High

The two years of "hell" happened while Tesla was attempting to take the Model 3 from concept to mass production. And it turns out that wasn't the only time Tesla nearly went bankrupt. In 2008, the company secured a $40 million loan that Musk says came in at the "last hour" when Tesla was about three days away from bankruptcy.

Though for whatever it's worth, since both near-failures, Tesla's stock (and Musk's net worth) have both gone on to reach all-time highs.

Related: 61 Books Elon Musk Thinks You Should Read

Jessica Thomas

Entrepreneur Staff

Senior Digital Content Director

Jessica Thomas is the senior digital content director at Entrepreneur. Prior to this role, she spent nearly five years on staff at Worth magazine and was a staff writer for Bustle. 

Want to be an Entrepreneur Leadership Network contributor? Apply now to join.

Business News

These Companies Offer the Best Work-Life Balance, According to Employees

The ranking is based on Glassdoor ratings and reviews.

Leadership

Why Your AI Strategy Will Fail Without the Right Talent in Place

Using fractional AI experts through specialized platforms allows companies to access top talent cost-effectively, drive innovation and scale agile strategies for growth.

Business News

Here's What the CPI Report Means for Your Wallet, According to JPMorgan and EY Experts

Most experts agree that there will be another rate cut next week.

Business Ideas

63 Small Business Ideas to Start in 2024

We put together a list of the best, most profitable small business ideas for entrepreneurs to pursue in 2024.

Growing a Business

Why Business Owners Should Streamline Their Operations Now for Success in 2025

As the holiday season and year-end approach, business owners face heightened operational demands, from inventory management to spend control. By streamlining these processes and partnering with flexible suppliers, businesses can maintain efficiency, meet customer needs and focus on growth while navigating this busy period.