Tesla/spacex – financials and raising
4 comments
That Elon Musk has leveraged 40% of his Tesla stock to fund his other businesses.
SpaceX is private company so we don't know how much his SpaceX ownership is pledged as collateral.
SpaceX is private company so we don't know how much his SpaceX ownership is pledged as collateral.
Is that something I should care about? I don’t really care how much he leveraged stock. Maybe people in finance would care because maybe that might mean he’s stressed about the different ventures but that’s just par for the course in the tech world.
If Musk gets a margin call, forced liquidation will create downward price pressure. He has to do SEC filings and announce it to the world. It could create huge panic sell and open a door for a takeover.
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I've recently gotten back on Twitter and in an effort to be more exposed to opinions outside of just the tech world have seen a lot of criticism about Tesla/SpaceX running out of money and about to die.
Understand everyone here worships Elon and loves the products. Without spending 25 hours researching what is real about this, the good and bad vs the supposed media/twitter craze.
I chalk it up to finance not understanding how to build innovative and very lasting companies. But also don't want to be ignorant.
Some of the things I saw, cited by influential finance people
-SpaceX tried to raise 500m and only raised 273m (might be explained by holiday season)
-SpaceX laying off 10%
-Tesla breaking ground on factory without designs (feel like this is so wrong but I just don't know)
-Tesla not being able to raise more money (because of a wells notice, of which I just learned what that means)
-SpaceX resources being used for Boring Co tunnels
-Tesla not sending permanent license plate tags for some super complicated finance scam to delay paying down their a/p until they sell another car (ponzi scheme)
-Elon vs Azalelia banks drug cocaine twitter beef
there's a ton more. And I realize everyone tweeting could have a short position and be doing so to try to instill doubt but this seems like a lot.
what is the tl;dr other than Elon does some insane stuff and is equally an asset as he is a liability?
What should someone who wants both of these companies to succeed but doesn't want to be optimistically ignorant need to know?