Thaindian News

By Madhuri Dey
June 23, (THAINDIAN NEWS) It seems that sometimes rich people are not as richer as they seem to be. Elon Musk the co-founder of “Pay Pal” who is also the head of Tesla Motors has recently revealed in a divorce court filing that a few months ago he had run out of cash. In the filing he had mentioned “About four months ago, I ran out of cash”. The revelation has not only brought some uncomfortable truth in front of the high profile but also brought some legal issues into consideration.

The present condition of Elon Musk can be described as that of being a “broke”. A billionaire in papers Elon Musk has reportedly said that all his cash has been in investments which he had reportedly said is a part of his ‘bad’ planning. The businessman is burdened by loans that he had taken from friends and other establishments and if he has run out of cash as he says then the loan will be defaulted. He has reportedly said that he has failed to manage a regular flow of cash.

However it is not only the personal reputation of Elon Musk that is on stake but the whole Tesla Motors company that he owns. According to one business analyst the loan of $ 465 million that the company has received from Energy Department on low interest needs Elon Musk to hold at least 65 percent of the Company and if Elon Musk does cash out early it would mean the loan to go into default. All the mess surrounding Elon Musk has come forward because of the divorce filing and the alimony demands that his wife Talulah Riley has filed at the court.