Elon Musk does not have $38.5 billion in unencumbered cash. Almost all of his cash is from loans taken against his Tesla stock. If Tesla stock loses value, Elo

Elon Musk does not have $38.5 billion in unencumbered cash. Almost all of his cash is from loans taken against his Tesla stock. If Tesla stock loses value, Elon Musk faces the risk of a margin call. In fact, this almost happened last year and the year before. It's one of the reasons that he wastes so much time going after shorts; it's not for fun--it's a matter of personal financial survival.