Musk’s Personal Borrowing Climbs Even With Tesla Stock Surging
- CEO has loans totaling $548 million from Wall Street banks
- Automaker plans to raise about $2 billion in share offering
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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.