Musk Taps SpaceX’s Financial Power to Cut Interest Costs in Half

Elon Musk’s reshaping of SpaceX, xAI and X into a tightly-bound conglomerate has already yielded a significant financial windfall: nearly $1 billion in annual interest savings.

Regulatory documents filed Wednesday ahead of SpaceX’s historic initial public offering reveal that the company secured a $20 billion bridge loan from banks — and that it was the fundingsource used to take out $17.5 billion of high-interest junk debt for Musk’s social media and AI companies.

The bridge loan came at an effective interest rate of 4.58% as of March 31, the documents show, vastly lower than the junk bonds ...