During that two-year period, Tesla stumbled from crisis to crisis, from Musk causing controversy for (legally) smoking weed on a podcast to issues manufacturing its Model 3, which the automaker was counting on to bring it to profitability.
In May 2019, Musk told workers that Tesla was facing an extreme cash crunch, and that “all expenses of any kind anywhere in the world, including parts, salary, travel expenses, rent, literally every payment that leaves our bank account must (be) reviewed.”
Indeed, Tesla did not turn the corner until October 2019. Over the past year, Tesla shares have seen their value increase 540 per cent. With a market cap just shy of $US400 billion ($A557 billion), Tesla is by far the most valuable automaker in the world.