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Elon Musk Borrowed $1 Billion From SpaceX in Same Month of Twitter Acquisition
- Elon Musk secured a $1 billion loan from SpaceX, which he repaid in November. The exact reason for the loan remains unclear, but Musk has a history of leveraging his shares for loans without relinquishing any shares permanently.
- Musk's loan coincided with significant investments in SpaceX's Starship rocket program and Starlink satellite-internet business. As SpaceX's largest shareholder, Musk controls a 42% stake and nearly 79% of its voting power.
- In addition to the loan, Musk recently sold nearly $4 billion worth of Tesla stock and expects to pay over $11 billion in taxes for 2021. He also provided roughly $25 billion in cash as part of his $44 billion deal to acquire Twitter.
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Elon Musk borrowed $1bn from SpaceX in same month of Twitter deal - WSJ
Elon Musk withdrew a loan of $1 billion from SpaceX - the two-decade-old rocket company run by the billionaire - around the same time he was acquiring Twitter, now known as X, for $44 billion, the Wall Street Journal reported on Tuesday.
·South Africa
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The businessman, who owns the aerospace company, repaid the loan with interest a month later, but it's not exactly clear why he took the money
·Brazil
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Total News Sources26
Leaning Left3Leaning Right8Center10Last UpdatedBias Distribution48% Center
Bias Distribution
- 48% of the sources are Center
48% Center
14%
C 48%
R 38%
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