Musk has used his shares as collateral for an estimated $800 Million Plus in loans to finance his lifestyle.
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I don’t know if that figure is right, but the loans are because he doesn’t take a salary.
This decision (to not take a salary—But yet take out loans) is curious. I guess it is because he doesn’t want to strain the financials. Yet. He does in thought it will be paid off with the impeding profit?
Here is a link on Musk and his shares. https://www.zerohedge.com/news/2018-04-28/will-elon-musk-be-next-ceo-face-margin-call-death-spiral
Even though he doesn’t get a salary, would you really want to borrow that kind of money against your shares? If he needed money he could sell some, unless there is a provision that he can’t.
Tesla is running through money and unless he wants to tap the Bond Markets for more money what is the next step?
Musk has run this game a good while and I think he is about out of steam and hyperbole.
Oh I missed that you said he used his shares as collateral for his loans. So they are not unsecured. Well he’s got quite the strong stomach for risk. I’ll give him that. I do respect his visionary self and his gonads. I am critical however of government subsidies and also curious about his thinking as he progresses forward. (sort of explaining all my previous posts on this thread for some reason ;D) Curious man this Musk man.