2023-09-06 02:57:24
newspaper reportedWall Street JournalThe American company announced, on Tuesday, that the CEO of “SpaceX”, Elon Musk, asked the rocket company for a billion dollar loan, while he was acquiring the social networking company “Twitter”, which later changed its name to “X”.
The newspaper said, quoting documents it reviewed, that “SpaceX agreed to grant Musk the loan, which was backed by some of his shares in the company during October,” the month in which he acquired Twitter, in a deal worth $ 44 billion.
According to the same newspaper, Musk paid $1 billion with interest to SpaceX in November of the same year, without specifying the reason for his request for the loan.
SpaceX and social media platform X did not immediately respond to Archyde.com’ request for comment. Musk did not respond to the Wall Street Journal’s requests for comment.
The “Wall Street Journal” said that the “extraordinary loan” is the latest example of how the richest man in the world can raise money from his corporate empire, without having to give up shares permanently.
Musk is SpaceX’s largest shareholder, controlling 42 percent of the stock and nearly 79 percent of its voting power as of March, according to a SpaceX filing with the US Federal Communications Commission.
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