Musk’s Personal Borrowing Climbs Even With Tesla Stock Surging

(Bloomberg) — Tesla Inc. may be selling more stock to help fund its global expansion, but its billionaire chief executive officer is taking a different approach for his personal cash needs: he’s borrowing it.Elon Musk has $548 million in personal loans from Morgan Stanley, Goldman Sachs Group Inc. and Bank of America Corp., according to a regulatory filing Thursday, an increase of about 8% since Tesla’s previous disclosure in May.Tesla will sell about $2 billion of common stock to help fund capital expenditures, the electric-vehicle maker said in the filing. Musk, 48, and fellow billionaire Larry Ellison, a member of …read more

Source:: Yahoo Finance