Elon Musk might be the richest person in the world now, but he's admitted that his company Tesla came dangerously close to bankruptcy thanks to the launch of just one product.

Tesla CEO Elon Musk told investors last year that the company was aiming for a 2025 launch of its self-driving service in California and Texas. The company appears to be on track to hit that target. Musk said during Tesla's fourth-quarter earnings call on Wednesday that the automaker is on pace to launch its self-driving service as early as June 2025,

Elon Musk is only one week into his role in President Donald Trump’s new administration, but the US federal government is already rolling out the Twitter playbook to manage its spending and personnel.

The new administration is emailing government employees draft resignation letters. Musk sent a similar email to Twitter staff in 2022.