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

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.