Elon Musk's Cash-Flow Problems
Filed under: Wealth
Even the richest people face cash problems. The NY Times reveals that charismatic businessman Elon Musk, co-founder of PayPal and CEO of Tesla Motors is a bit short on cash. Musk, who is in the midst of a divorce has acknowledged that he ran out of cash around four months ago. In his Dealbook column, New York Times's Andrew Ross Sorkin writes that while Musk had $200 million in cash not long ago now he is relying on the kindness of loans from his wealthy friends. He has invested all of his money in his businesses. But according to court filings he isn't exactly taking the bus and eating ramen for dinner, he still spends around $200,000 a month and flies on his private jet. Musk's ex-wife, novelist Justine Musk has asked for the house, alimony, child support , $6 million cash and a share of Tesla Motors and a cut of Musk's stock in his rocket company, SpaceX. She's currently in New Orleans with her new boyfriend, has proclaimed that she gets along well with her ex's new actress girlfriend, and has blogged frankly about the divorce. The pair are debating about the validity of a postnuptial agreement. On her blog in her divorce tips she advises her readers not to sign a postnup.
Musk's cash flow issues are temporary. In two weeks, Tesla is scheduled to hold an initial public offering of stock that could value the company at about $1.4 billion. Telsa has said that the divorce should have no impact on the company. After the public offering, if it goes as hoped, he'd have around $21 million in cash and still own a controlling interest in Tesla.
PHOTO: Dog Guards Dead Victim's Body After Oklahoma Tornado Disaster
Live from Microsoft's New Generation Xbox event!
Demi Looks FANTASTIC In A Bikini
Xbox Reveal liveblog on Joystiq
Dozens Killed in Oklahoma Tornado; Death Toll to Rise
Wolf Blitzer's Embarrassing Moment With Tornado Survivor
Justin Bieber Booed, Gets Standing Ovation at Billboard Music Awards
Watch: Kansas Meteorologist Seeks Shelter From Tornado
Man Reportedly Beheaded In Brutal Assault In London Neighborhood
2013 Billboard Music Awards Best and Worst Dressed
Xbox One architecture panel liveblog!
Who Won 'DWTS'?
Two Pilots Fired After Brazilian Pop Star Takes Captain's Seat Mid-Flight
PHOTOS: This Is The Best Response To Abercrombie CEO Mike Jeffries We've Seen Yet
H&M's Plus-Size Model Jennie Runk Says She Chose To Gain Weight
Rescuers Continue Search For Tornado Survivors
The World's Most Powerful Women
PHOTOS: Christie Brinkley Gets Back Into A Swimsuit At 59 Years Old
Mother Dies With Infant During Oklahoma Tornado
U.S. Acknowledges Four American Citizens Killed In Drone Strikes
NY Times Eviscerates Obama White House
Help For Heroes Killing
60 Minutes Makes All The Difference For $360 Million Jackpot
PHOTOS: Tornado Aftermath Leaves Trail Of Destruction
15 Incredible Cat Photobombs
White Father Allegedly Suspected Of Kidnapping Biracial Daughters
Singer Sues McDonald's, Claims Chicken Sandwich Incident Ruined Her Voice
CBS Reporter's Grave Allegations
Grossed Out Student Finds "Worm" In His McMuffin
Mila Kunis And Ashton Kutcher Put Their Romance On Display
Tara Ellison: Why I Gave A Toast At My Ex-Husband's Wedding