> SpaceX is an entirely separate company from Tesla, and not public. Investing in Tesla is not investing in SpaceX That may be strictly true, but I think most

> SpaceX is an entirely separate company from Tesla, and not public. Investing in Tesla is not investing in SpaceX That may be strictly true, but I think most people consider Elon's ownership and direction of Tesla a big part of what supports the stock's price. Enough of Musk's loans for SpaceX are backed by Tesla stock for that to get a mention in their 10K > Elon Musk has pledged shares of our common stock to secure certain bank borrowings. If Mr. Musk were forced to sell these shares pursuant to a margin call that he could not avoid or satisfy, such sales could cause our stock price to decline. > Certain banking institutions have made extensions of credit to Elon Musk, our Chief Executive Officer, a portion of which was used to purchase shares of common stock in certain of our public offerings and private placements at the same prices offered to third party participants in such offerings and placements. We are not a party to these loans, which are partially secured by pledges of a portion of the Tesla common stock currently owned by Mr. Musk. If the price of our common stock were to decline substantially and Mr. Musk were unable to avoid or satisfy a margin call with respect to his pledged shares, Mr. Musk may be forced by one or more of the banking institutions to sell shares of Tesla common stock in order to remain within the margin limitations imposed under the terms of his loans. Any such sales could cause the price of our common stock to decline further. The financial situation of his companies is very linked -- I personally think that was a big driver behind the purchase of Solar City since he had also used Tesla stock to back loans for that company as well.