Is It True That Elon Musk Uses Tesla'S Money To Fund His Other Projects?
Elon Musks Elan, as it turns out, is getting other people--cust
omers, competitors, to finance the massive capital costs and infrastructure associated with his friction-filled businesses.
SpaceX is still a private company; in the SolarCity IPO, Musk did not sell any shares,
while in Teslas IPO, Musks proceeds totaled $15 million.
Tesla Motors Inc and SolarCity Corp still report a net loss after a decade of operations,
but the stocks in both companies have skyrocketed bas
ed on their potential; L.A.-based entrepreneur Elon Musks stake in the firm alone is valued at around $10 billion.
Over the years, one Musk firm - one of many - has received billions in state loans, contracts, tax breaks, and subsidies.
Elon Musk has said quite openly that Tesla does not need any government subsidies,
Tesla is one of the founding members of the organization created by EV manufacturers,
the Zero-Emissions Transportation Association (ZETA), which advocates just this.
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