Matt Levine’s Money Stuff: SpaceX Loaned Elon Musk Some Money

SpaceX

Last year, Elon Musk offered to buy Twitter Inc. for about $44 billion, which required him to find $44 billion. Much of Musk’s money is tied up in shares of Tesla Inc., where he is chief executive officer, so he sold some Tesla shares to raise some of the money. For a while, his plan was to get some more of the money by borrowing against his remaining Tesla stake. He went and got commitment letters from a group of banks who agreed to lend him $12.5 billion, secured by $62.5 billion of Tesla stock. This was going to ...