Even though the value of the personal assets of American businessman and inventor Elon Musk reaches about $ 39 billion, he lives on Bank loans. The Wall Street Journal reported this.
Journalists of the publication calculated Musk’s finances and found out that his debts to credit organizations exceed 500 million dollars. This is because the businessman takes loans secured by shares of his companies Tesla and SpaceX. For example, last year, the billionaire pledged about half of his shares in Tesla (about 10% of the total stake in the company).
The WSJ article also mentions a lawsuit against Musk, in which he was asked for monetary compensation. Then the lawyer of the businessman said that his client is “financially insolvent.” According to the lawyer, most of Elon Musk’s assets are loans.
Earlier, the American businessman wrote on Twitter that he intends to sell his property, including his own house. After that, Tesla shares fell 9.35% to $ 708.77.