• Home
  • News
  • Apps
  • Guides
  • Tech
  • Gaming
  • Apple
  • Mobile
  • Windows
  • Hardware

Subscribe to Updates

Get the latest creative news from FooBar about art, design and business.

What's Hot

Rajaputhiran Streaming Now on AhaTamil: Every thing You Must Know About Plot, Solid, and Extra

Harmonic Launches Aristotle AI Mannequin-Powered Chatbot App for Android and iOS

Saare Jahan Se Acha OTT Launch Date: When and The place to Watch Pratik Gandhi Starrer Film

Facebook Twitter Instagram
Tech Crowder
  • Home
  • News
  • Apps
  • Guides
  • Tech
  • Gaming
  • Apple
  • Mobile
  • Windows
  • Hardware
Facebook Twitter Instagram
Tech Crowder
Home»Apps»Elon Musk Borrowed $1 Billion From SpaceX in Similar Month of Twitter Takeover: Report
Apps

Elon Musk Borrowed $1 Billion From SpaceX in Similar Month of Twitter Takeover: Report

Rudra SharmaBy Rudra SharmaUpdated:No Comments2 Mins Read
Facebook Twitter Pinterest Telegram LinkedIn Tumblr WhatsApp Email
Elon Musk Borrowed  Billion From SpaceX in Similar Month of Twitter Takeover: Report
Share
Facebook Twitter LinkedIn Pinterest Telegram Email

Elon Musk withdrew a mortgage of $1 billion (roughly Rs. 83,062 crore) from SpaceX – the two-decade-old rocket firm run by the billionaire – across the identical time he was buying Twitter, now referred to as X, for $44 billion (roughly Rs. 3,65,442 crore), the Wall Road Journal reported on Tuesday. SpaceX permitted the $1 billion (roughly Rs. 8,30,625 crore) mortgage, which was backed by a few of Musk’s SpaceX inventory, in October and Musk drew all of it down the identical month, in line with the report, citing paperwork. Musk took possession of Twitter in October.

Advertisement

Musk has had preparations with banks to borrow towards his shares in his firms, together with electrical autos (EV) maker Tesla, whereas privately held SpaceX has served as his lender, the report stated, including that paying for Twitter additional sophisticated Musk’s monetary state of affairs.

Musk is SpaceX’s largest shareholder with a 42 p.c stake and virtually 79 p.c of its voting energy as of March, the report stated, citing a submitting with the Federal Communications Fee. SpaceX had $4.7 billion (roughly Rs. 39,034 crore) in money and securities available on the finish of final yr, the paper stated, citing paperwork.

Each SpaceX and X didn’t instantly reply to a Reuters request for remark.

Elon Musk bought a large chunk of his Tesla shares in 2022, each earlier than and after the Twitter deal, bringing his whole gross sales to about $40 billion (roughly Rs. 3,32,172 crore) which pissed off buyers within the EV maker.

In April 2023, Tesla disclosed that it had additional tightened guidelines round Musk utilizing his stake within the firm to borrow cash, in line with the WSJ report.

Along with Tesla and X, Musk is a co-founder of brain-chip startup Neuralink. 

© Thomson Reuters 2023  


Affiliate hyperlinks could also be robotically generated – see our ethics assertion for particulars.
Advertisement
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
Rudra Sharma
  • Website

Techcrowder is an imprint of Authority Media dedicated to consumer electronics and digital services. Beyond our expertise in mobile tech, our coverage has expanded to include everything from robot vacuums to streaming services to innovations in artificial intelligence.

Related Posts

Harmonic Launches Aristotle AI Mannequin-Powered Chatbot App for Android and iOS

Perplexity’s macOS App Will get Help for Anthropic’s MCP for System Duties: This is Learn how to Use It

Apple Expands App Retailer Age Score System With Extra Granular Classes

Video-Sharing App Vine Is Returning ‘In AI Type’, Says Elon Musk

OpenAI Lastly Rolling Out ChatGPT Agent for Eligible Customers After Week-Lengthy Delay

WhatsApp for Android Stated to Be Testing Actual-Time Voice Chats With Meta AI

Leave A Reply Cancel Reply

Advertisement
Recent Posts
  • Rajaputhiran Streaming Now on AhaTamil: Every thing You Must Know About Plot, Solid, and Extra
  • Harmonic Launches Aristotle AI Mannequin-Powered Chatbot App for Android and iOS
  • Saare Jahan Se Acha OTT Launch Date: When and The place to Watch Pratik Gandhi Starrer Film
  • Perplexity’s macOS App Will get Help for Anthropic’s MCP for System Duties: This is Learn how to Use It
  • Tesla buyers develop cautious of Elon Musk robotaxi guarantees
  • Facebook
  • Twitter
  • Pinterest
  • Instagram
  • YouTube
  • Vimeo
Don't Miss
Entertainment

Rajaputhiran Streaming Now on AhaTamil: Every thing You Must Know About Plot, Solid, and Extra

Written and directed by Mahaa Kandhan, Rajapurthiran is a Tamil drama film that has lastly…

Harmonic Launches Aristotle AI Mannequin-Powered Chatbot App for Android and iOS

Saare Jahan Se Acha OTT Launch Date: When and The place to Watch Pratik Gandhi Starrer Film

Perplexity’s macOS App Will get Help for Anthropic’s MCP for System Duties: This is Learn how to Use It

Advertisement
Latest Posts

Rajaputhiran Streaming Now on AhaTamil: Every thing You Must Know About Plot, Solid, and Extra

Harmonic Launches Aristotle AI Mannequin-Powered Chatbot App for Android and iOS

Saare Jahan Se Acha OTT Launch Date: When and The place to Watch Pratik Gandhi Starrer Film

Perplexity’s macOS App Will get Help for Anthropic’s MCP for System Duties: This is Learn how to Use It

Tesla buyers develop cautious of Elon Musk robotaxi guarantees

Apple Expands App Retailer Age Score System With Extra Granular Classes

Video-Sharing App Vine Is Returning ‘In AI Type’, Says Elon Musk

OpenAI Lastly Rolling Out ChatGPT Agent for Eligible Customers After Week-Lengthy Delay

Categories
  • Apps
  • Entertainment
  • Gadgets
  • Gaming
  • Latest Posts

Rajaputhiran Streaming Now on AhaTamil: Every thing You Must Know About Plot, Solid, and Extra

Harmonic Launches Aristotle AI Mannequin-Powered Chatbot App for Android and iOS

Saare Jahan Se Acha OTT Launch Date: When and The place to Watch Pratik Gandhi Starrer Film

Perplexity’s macOS App Will get Help for Anthropic’s MCP for System Duties: This is Learn how to Use It

Recent Posts
  • Rajaputhiran Streaming Now on AhaTamil: Every thing You Must Know About Plot, Solid, and Extra
  • Harmonic Launches Aristotle AI Mannequin-Powered Chatbot App for Android and iOS
  • Saare Jahan Se Acha OTT Launch Date: When and The place to Watch Pratik Gandhi Starrer Film
  • Perplexity’s macOS App Will get Help for Anthropic’s MCP for System Duties: This is Learn how to Use It
  • Tesla buyers develop cautious of Elon Musk robotaxi guarantees
Pages
  • About Us
  • Contact Us
  • Disclaimer
  • Homepage
  • Privacy Policy
© 2022 Techcrowder.com
  • About Us
  • Contact Us
  • Disclaimer
  • Privacy Policy

Type above and press Enter to search. Press Esc to cancel.

Like Us
Follow Us
Subscribe Us
Follow Us