Tesla Inc.’s
TSLA,
billionaire Chief Executive Elon Musk borrowed $1 billion from his rocket company, SpaceX, around the time he bought Twitter last year, the Wall Street Journal reported late Tuesday. According to the Journal, SpaceX approved the unusual loan, backed by some of Musk’s SpaceX stock, last October. It was entirely drawn down, then repaid with interest in November, the Journal reported, citing documents it reviewed. Musk’s $44 billion purchase of Twitter was completed in late October. Specific reasons for the loan were not detailed, according to the Journal. Musk is by far SpaceX’s largest shareholder.
