The Wall Street Journal counted personal Finance Elon musk and came to a disappointing conclusion — it turned out that the billionaire quite a few personal savings, and their needs he meets through credit. Thus, the head of Tesla, has accumulated a large number of credits that it takes the Bank against the security of shares of their companies.
Despite the fact that the personal status of the head of Tesla and SpaceX Elon musk has a $39 billion, he had virtually no cash, and emerging needs he pays taken from banks loans, reports the Wall Street Journal, who considered that he lives an eccentric engineer and a billionaire.
As it turned out, the Mask actually mired in debt. According to the WSJ, he often has to borrow from banks against the security of shares in the owned companies, but remembering to maintain a controlling stake. It is reported that last year he laid for nearly half of all of their Tesla stock. In total he owns 20% of all the shares of this company worth $29 billion.
Total debt Elon musk to credit institutions is about $500 million.
The WSJ points to the fact that the use of shares as collateral for many loans may have a negative impact on the capitalization of Tesla. In addition, Musk is risking, since the decline in share prices to a certain level, the Bank has the right to demand early repayment of the loan. Given the explosive nature of the head of Tesla, which is one careless tweet can affect the financial performance of the company, such a scenario can not be attributed to unlikely.
The publication also highlighted several cases where Elon Musk left without any cash. So, in a divorce with his first wife, the businessman had ended personal money, and he was forced to borrow from friends to support themselves and their children.
In addition, in 2019, when Musk sued the British diver Vernon Unsworth, whose billionaire unsubstantiated called “pedophile”, he was asked about the size of his condition.
Then Elon Musk has stated that he does not know how much funds is available to it, as their volume is changing every day. According to him, he has stock of Tesla and SpaceX, but in cash he hardly speaks.
On the question of whether $20 billion a sufficient amount to describe his condition, Elon Musk replied that she is not sure, but “shares SpaceX and Tesla somewhere so many are”.
Last week it became known that Musk intends to sell all their property.
“I sell almost all their possessions. I have no home,” — suddenly said the billionaire on Twitter.
Thus the question of the WSJ, if the businessman sells his home because he urgently needed money, Musk replied in the negative.
M��liarder added that he did not know where he will live when of the sale will be completed, but perhaps “hire a small house”.
Many subscribers Mask, knowing his changeable mood, felt that the decision to sell the whole property was made a billionaire the heat of the moment, especially considering the fact that last week he had another child. However, it turned out that the Mask wasn’t kidding — at least two houses, belonging to the engineer, was offered for sale. One of them was previously owned by actor Gene Wilder, best known for her role in the movie “Willy Wonka and the chocolate factory”. This estate in the district of Bel air in Los Angeles sold for $9.5 million. Another Mask house in Bel air that he bought in 2017 for $17 million, the billionaire plans to sell $30 million
