Elon Musk tapped SpaceX, the rocket maker he oversees as chief executive, for a $1 billion loan around the time he was acquiring the social-media company formerly known as Twitter.
The unusual loan is the latest example of how the world’s richest man has drummed up cash from his empire of companies without having to permanently part with shares, enabling him to raise funds for his wide array of endeavors.
SpaceX approved the loan, which was backed by some of his SpaceX stock, in October, and Musk drew all of it down the same month, according to documents reviewed by The Wall Street Journal.
Read the full story on The Wall Street Journal here.