How is this legal? Insane.
The $1 billion loan temporarily shifted a significant chunk of capital for SpaceX, which is intertwined with many of the most important space missions at the National Aeronautics and Space Administration and the Pentagon, to its top leader.
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But I think I may have missed the main issue. The main issue is that Musk runs a web of companies, some of which need cash and some of which have cash, and he is also in the business of starting or buying other companies, creating more cash needs. If all of the companies are private, he can sort of use their cash interchangeably: Sure, each company has different outside investors and its own board of directors, but they are all part of the Elon Musk family, and it’s not too hard to work something out. Musk goes to the SpaceX board, he says “I need to borrow $1 billion to buy Twitter and save humanity,” they are like “your mission to save humanity is why we love you and why we are on the board, here you go,” and it’s fine. Probably he pays the loan back promptly with interest and everything is fine, but even if for some reason he couldn’t do that, probably SpaceX’s board and investors would understand. They love Musk and trust him completely.
Flying Upside Down 