Elon Musk tapped SpaceX, the rocket maker he oversees as chief executive, for a $1 billion loan around the time he was acquiring the social-media company formerly known as Twitter. He paid the loan back shortly after he borrowed the money, returning $1 billion with interest to SpaceX in November. From the early days of SpaceX, Musk has turned to the company to help back up his other ventures. SpaceX tried to help a different Musk company during a period of financial difficulty: SolarCity. The total amount SpaceX could lend him was increased in May 2019, and Musk borrowed another $100 million the same month.

Source: Wall Street Journal September 06, 2023 12:29 UTC