Musk's Own Borrowing Up as Banks Underwrite More Tesla Debt

CEO’s loans climb to $624 million from Morgan Stanley, others
Exec to purchase Tesla shares as part of latest share offering

Elon Musk
Photographer: David Paul Morris/Bloomberg

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By David Welch

March 16, 2017 at 12:51 AM UTC

Updated on

March 16, 2017 at 1:51 PM UTC

This article is for subscribers only.

As Tesla Inc. embarks on another effort to raise money, Chairman Elon Musk is also adding to his personal debts.

Tesla disclosed Wednesday as part of its stock and debt offering that Musk increased his own borrowing by more than $100 million, to $624 million. Morgan Stanley, the automaker’s longtime banker, is among the financial institutions that have lent Musk money, secured by Tesla shares.