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On the contrary, Musk reportedly took out loans against his Tesla shares in order to participate in this round - to the tune of $100 million. [0] https://techc
by rory096 9y ago
On the contrary, Musk reportedly took out loans against his Tesla shares in order to participate in this round - to the tune of $100 million.
[0] https://techcrunch.com/2018/03/16/spacex-is-making-big-money-moves/ https://techcrunch.com/2018/03/16/spacex-is-making-big-money...
- alttab 9y agoI don't see where the article states that Musk took out a loan against his existing shares to literally buy more at a higher valuation. I'm not even certain that would make it past underwriting, much less be legal. Otherwise you could leverage market capitalization without amy downward sell pressure to increase not only your total holdings but it's overall value. Seems illegal. Kinda like EOS.
- jonknee 9y agoHe would have taken a loan against Tesla shares to buy SpaceX shares, that is definitely legal (albeit risky considering the volatility of TSLA). The reason it's likely a loan is that he doesn't have $100m sitting around.