This is not the first time, SpaceX has turned lender for Elon Musk, increasing the ceiling for loans, based on Musk's needs.
At the height of Tesla's popularity on Wall Street, Musk made a move to acquire a stake in Twitter and openly expressed his interest in acquiring the social media platform and taking it private. Musk, who had, quickly realized he was overpaying for the platform and looked for ways to back out.
After Twitter pulled him to court for trying to walk away from his offer, Musk agreed to pay the $44 billion with $25 billion to be paid in cash. Musk was to borrow $12.5 billion by putting up 40 percent of his Tesla stake as collateral. Still, the move worried Tesla investors and the company tightened the rules around how much of his stake Musk could offer as collateral.
Musk later involved more parties when the transaction had to be completed in October. But it now appears that SpaceX lent him some money, which was paid back with interest a month later.Musk's net worth is primarily tied to his stake in his companies, Tesla, SpaceX, and the rest, and his cash-in-hand situation remains largely unknown.
Tapping into one of your privately owned companies for a formal loan might not seem like a big deal. However, in Musk's case, SpaceX, although much smaller than Tesla in valuation, has often rushed in to rescue the billionaire.
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