Elon Musk owns 20% of Tesla and has taken personal loans from Wall Street banks for years.
Tesla CEO Elon Musk leaves Manhattan federal court after a hearing on his fraud settlement with the Securities and Exchange Commission in New York City, April 4, 2019.Tesla chief executive Elon Musk personally owes $507 million to Wall Street banks involved in Tesla's stock and debt sale.
Tesla said that if the price of its stock falls and the banks force Musk to sell some of his shares, that could create additional pressure on the stock.SAN FRANCISCO - Tesla chief executive Elon Musk personally owes $507 million to Wall Street banks involved in Tesla's stock and debt sale, backed by his stake in the electric car maker, a company filing showed on Thursday.
Still, Tesla said that if the price of its stock falls and the banks force Musk to sell some of his shares, that could create additional pressure on the stock.
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