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Elon Musk Borrowed $1B from SpaceX in Same Month of Twitter Acquisition

• pinewurst 3y ago
  https://archive.ph/hZxv1 https://archive.ph/hZxv1
• catchnear4321 3y ago
  > SpaceX approved the loan, which was backed by some of his SpaceX stock, in October, and Musk drew all of it down the same month > He paid the loan back shortly after he borrowed the money, returning $1 billion with interest to SpaceX in November modern oligarchs are nothing more than exceedingly, offensively successful con artists.
  • oliv5900 3y ago
    OK so he took a loan backed against stock, then a month later he paid it back in full with interest. That makes him a con artist how?
  • inemesitaffia 3y ago
    Please explain the con...
• mgiannopoulos 3y ago
  So SpaceX made money (from the interest) due to Musk’s mess with Twitter. And that is bad for the company somehow? Or newsworthy?
  • inemesitaffia 3y ago
    Everything he does apparently is. I look forward to him transitioning
  • Zigurd 3y ago
    Spacex's loan to Twitter can't be senior to the LBO loans. If it is a personal loan to Elon, who then used it to buy Twitter equity, that's also in line behind all of the creditors that Twitter has. Anyway you look at it it's sus.
    • mgiannopoulos 3y ago
      It was a loan from SpaceX to Musk (not Twitter) and according to the article it was paid back already after a month.