Thaindian News

June 26, 2010 (Pen Men at Work): Elon Musk is a well-known capitalist. He happens to be the architect of Tesla Motors. Tesla Motors is a company that is involved in the drawing, construction and vending of electric automobiles. It is, at present, the solitary automaker that is manufacturing and retailing highway-capable electric automobiles in serial production in North America or Europe. Tesla Motors also desires to implement a $178 million IPO. Therefore, it would appear that Elon Musk is in a stable position monetarily.

The wife of Elon Musk happens to be Justine Musk, who is a reasonably famous novelist. They have launched divorce proceedings in the court. If one assesses his divorce papers and trusts those papers, then one would have to state that Elon Musk is broke. News had emerged of late that the millionaire, Elon Musk, had asserted that he was bereft of cash.

It seemed to watchers that Elon Musk had a colossal amount of money to lose. Elon Musk was one of the inventors of PayPal. He employed his newly generated cash to set in motion companies like SpaceX, which was intended to be a company for the fulfillment of money-making objectives. Space X recently underwent a test launch. This occasion saw the presence of luminaries such as Barack Obama, the current American political chief. SolarCity is a solar panel financing undertaking, the representatives of which also attended the test launch.

Elon Musk’s forthcoming divorce from Justine has illustrated the reality of his economic standing. He currently exists on $200,000 a month. This money arrives in the form of loans from his well-wishers. Elon Musk has claimed that he is unable to scrounge up a recurrent stream of money.

Andrew Ross Sorkin has declared in the New York Times (NYT) that Elon’s economic status could have an unconstructive impact on Tesla. The business of Tesla is dependent on Elon Musk. Tesla had attained a loan from the Energy Department, which necessitates that Elon Musk possesses at least 65% of Tesla. If he quits early, then the loan would, to be precise, go into default.

In regulatory documents, Tesla has unequivocally articulated that the conjugal termination of Elon Musk would not damage Tesla’s foundation and that Musk would not be in a dire spot that forces him to vend his shares. Tesla is traveling in the direction of its IPO. It is being projected Elon Musk will bump into an individual, who will be prepared to loan to him.

Justine Musk has conceded that Elon Musk has been put through financial difficulty recently. Nonetheless, she invoked him as a billioanire. Musk also confessed to Andrew Ross Sorkin that he might have power over scarce liquidity but his belongings are gigantic.