So did Musk really co-found Tesla?

Tesla was incorporated by Eberhard and Tarpenning in 2003, but Musk led and largely funded the 2004 Series A, chaired the board, set the strategy, became CEO in 2008, and is legally recognised as a co-founder under a 2009 settlement.

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Automotive

Feb 1, 2004

Musk takes the wheel at Tesla

Musk leads Tesla’s 2004 Series A, becomes chairman and largest shareholder, and sets the strategy that builds the company.

~$6.5M (of ~$7.5M)

Series A investment

Chairman & largest shareholder

Role

Tesla Motors was incorporated in July 2003 by Martin Eberhard and Marc Tarpenning. In February 2004, Elon Musk led the company's ~$7.5 million Series A round — investing about $6.5 million of his own money, by far the largest stake — and became chairman of the board and Tesla's controlling shareholder.

From the start Musk was far more than a passive investor: he drove product decisions, recruited talent, and in 2006 published the "Secret Master Plan" that would guide Tesla for the next two decades — build a high-end sports car, use that money to build a more affordable car, then a mass-market car, all while providing clean energy.

When the 2008 crisis nearly killed the company, Musk took over as CEO and poured in his remaining personal fortune. A 2009 settlement formally recognises him, Eberhard, Tarpenning, JB Straubel and Ian Wright as co-founders.

Musk takes the wheel at Tesla

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