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Jaswanth Jegan
Stealth • 6m
"ELON MUSK is not The FOUNDER Of Tesla" Bankruptcy to Billions #2 Tesla's Turnaround Story Tesla was founded by Martin Eberhard and Marc Tarpenning in 2003.Elon Musk joined Tesla in 2004 as chairman by investing $6.5 million of his own money, which made him the largest shareholder at the time. In Aug 2007, Eberhard was asked to step down as CEO before leaving Tesla entirely in Nov 2007. He stated that his departure was not voluntary.Tarpenning left Tesla in 2008.His decision to leave was driven by the changing dynamics within Tesla as Musk's influence grew. In 2008 Tesla faced near bankruptcy due to the global financial crisis,internal conflicts, disagreements over management and strategic direction. Then Musk become the CEO and invested his personal funds into Tesla and secured additional financing which was critical in keeping the company afloat. Additionally, Tesla renegotiated supplier agreements and cut costs to stabilize its financial situation helped Tesla survive.
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