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Space X had over a $100 million invested in Solar City.
by bigtex 7y ago
Space X had over a $100 million invested in Solar City.
- hef19898 7y agoWow, so Musk used one of his companies, SpaceX, to fund one of his other companies, SolarCity. And when the latter one was going down the drain he used his third company, Tesla, to buy the failing one and save both his own and his first companies investment. Nice.
- toomuchtodo 7y agoThere is a bit of nuance to this. SpaceX invested cash reserves in Solar City bonds. This wasn't an equity investment. While one can argue that people paying their electric bill monthly isn't as risk free of US treasuries (and that would be accurate), the risk was appropriately rated based on the returns.