How Elon Musk Used SpaceX to Benefit Himself and His Businesses
Elon Musk borrowed $500 million from SpaceX between 2018 and 2021 at low interest rates, and used the company to support his other struggling businesses, including Tesla and SolarCity. As SpaceX prepares to go public, it will be required to disclose its financial transactions with Musk and other related companies.
Elon Musk borrowed $500 million from SpaceX between 2018 and 2021. The loan terms were favorable, with interest rates ranging from less than 1% to nearly 3%. SpaceX also supported Musk's other businesses, including Tesla and SolarCity. The company's financial dealings with Musk have raised concerns among some investors. SpaceX is valued at over $1 trillion and is a major federal contractor. As it prepares to go public, it will be required to disclose its financial performance and transactions with Musk and other related companies.
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