Elon Musk has a fortune of thirty-nine billion dollars and is mired in debt and loans

The Wall Street Journal revealed that the value of the personal assets of American entrepreneur, Elon Musk, amounted to 39 billion dollars, and yet he is still personal. He lives On bank loans and insures his expenses from them.

According to the newspaper, Musk's personal debts exceed $ 500 million, and the well-known businessman is borrowing money from banks with a guarantee of Tesla and SpaceX shares, according to Russia Today.

In 2019, he pledged about half of his shares in Tesla (in total, he holds a 20% stake in the company's stock). The value of his shares was estimated at $15 billion, and now it is worth $28 billion.

The famous businessman claims that Personally He doesn't need the money, but his lawyer during trial proceedings with Briton Vernon Raeworth in 2019, said his client did not have enough personal funds to pay compensation in the defamation case. He emphasized that most of Musk's assets are stocks, not cash.

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The newspaper concluded by saying: “If the value of the securities falls below a certain level, the banks have the right to require the founder of Tesla to repay the loans before the date specified in the loan contract, which will further reduce the share price. But based on the positive dynamics of the company’s securities prices, such a scenario is unlikely and unlikely.”