Musk repaid the loan in November, and it's not clear why it was taken.
Elon Musk borrowed $1 billion from his privately held space company SpaceX in October, about the same time as he was buying the social media site Twitter, which is now called X.
Loans to corporate insiders need to be disclosed to investors, explains accounting expert Robert Willens. Typically, related-party transactions are disclosed in annual reports. SpaceX, however, is privately held and doesn’t file an annual report with the Securities and Exchange Commission. Outsiders just can’t be sure how or what was communicated to SpaceX investors.
Tesla stock was down 2% in midday trading Wednesday, while the S&P 500 and Nasdaq Composite were off 0.9% and 1.2%, respectively.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
| Elon Musk Borrowed $1 Billion From SpaceX in Same Month of Twitter AcquisitionThe world’s richest man has more than once drummed up cash from his empire of companies without having to permanently part with shares.
Read more »
Elon Musk borrowed $1 billion from SpaceX in same month of Twitter buyoutElon Musk borrowed $1 billion from SpaceX in same month of Twitter buyout - WSJ
Read more »
Elon Musk borrowed $1 billion from SpaceX around time of his Twitter purchase: reportTesla Inc.’s billionaire Chief Executive Elon Musk borrowed $1 billion from his rocket company, SpaceX, around the time he bought Twitter last year, the Wall...
Read more »
Tesla’s Elon Musk Borrowed $1 Billion From SpaceX Just as Twitter Sale CompletedMusk repaid the loan in November, and it's not clear why it was taken.
Read more »
Elon Musk borrowed $1B from SpaceX the same month he bought TwitterElon Musk borrowed $1 billion from SpaceX in October — the same month he completed his acquisition of Twitter for $44 billion. He paid the entire sum back with interest just one month later.
Read more »
| Elon Musk Borrowed $1 Billion From SpaceX in Same Month of Twitter AcquisitionThe world’s richest man has more than once drummed up cash from his empire of companies without having to permanently part with shares.
Read more »