Tech billionaire Elon Musk borrowed $1 billion from his firm SpaceX simply earlier than shopping for Twitter, in accordance with a report.
A Tuesday report from The Wall Street Journal discovered that SpaceX, the area flight firm owned by Mr. Musk, authorised a $1 billion mortgage final October backed up by firm inventory. He apparently repaid the mortgage, with curiosity, one month later.
When Mr. Musk took out the mortgage, he was within the closing phases of buying the social media platform for $44 billion. He has since modified the location’s identify to X.
According to the report, SpaceX had $4.7 billion in money and securities on the finish of final 12 months.
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