Musk Took $1 Billion Loan from SpaceX Before Buying Twitter: Report

By Masri September 6, 2023

Musk Took $1 Billion Loan from SpaceX Before Buying Twitter

According to reports, Elon Musk borrowed USD 1 billion from SpaceX just before he was about to buy X(formally known as Twitter).

According to a Wall Street Journal report, the loan was backed by SpaceX owner’s shares in the company.

The report further says that the company approved the loan in October, and the X CEO withdrew all the amount from the account in the same month. Interestingly, Elon Musk paid all the amount with interest within a month.

In October 2022, Elon Musk completed a record USD44 billion deal with Twitter, but it is still being determined whether the amount he got from SpaceX was used in the purchase.

According to online sources, the net worth of Elon Musk is USD257 Billion, making him the wealthiest person in the world.

Masri

Masri serves as the Chief Content Editor at BestKodiTips. With three years of experience, she excels in creating technical content, focusing on how-to guides, Android and Kodi tutorials, app reviews, and addressing common technological challenges. She ensures to stay abreast of the latest tech updates. Outside of work, Masir finds pleasure in reading books, watching documentaries, and engaging in table tennis.