Elon Musk Quietly Took $500 Million From SpaceX. An IPO Could Change Everything |
Elon Musk Quietly Took $500 Million From SpaceX. An IPO Could Change Everything
The billionaire used low-interest loans to prop up his other business interests.
BY LEILA SHERIDAN, NEWS WRITER
Elon Musk. Illustration: Inc; Photo: Getty Images
As Elon Musk moves closer to taking SpaceX public, the company’s quiet financial endeavors are coming into sharper focus.
Over a three-year period, Musk borrowed roughly $500 million from SpaceX, using the privately held rocket company as a source of low-interest capital rather than turning to traditional banks, according to internal........