So if Musk owed $624.3 million over a year ago (2017) and subsequently paid interest on that loan while drawing a minimal salary ($49,920) and continuing his aforementioned luxurious lifestyle while pouring $100 million into his latest distraction, the Boring Company, it seems reasonable to guess that his current loans total approximately $800 million, which means—according to the new proxy—they’d need to be collateralized by $3.2 billion in Tesla shares.
[Again, back in early 2018] As the proxy notes Musk has currently pledged 13,774,897 of his 37,853,041 shares to support those loans, it implies that at a share price below $232.30 (assuming a current balance of $800 million), he’d face either a margin call or the need to post additional shares as collateral. (For some perspective, earlier this month [April, 2018] the stock dipped as low as the $244s.)
It appears TSLA dropped to about $232 last Friday (April 26, 2019). The stock recovered yesterday to $241.
Tesla turned negative this morning (Tuesday, April 30, 2019) after two events.
- Chinese company buys billboard in Times Square complaining about faulty Teslas
- Tesla will cut prices of solar panels in attempt to regain solar energy dominance
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Blue Apron
A better-than-expected quarter at Blue Apron. The meal kit company posted a narrower loss than many expected, but revenue slid 28% year-over-year. Blue Apron has been struggling to re-claim market share and recently brought in a new CEO to try to reignite growth. Hardly seems like a "going" concern.
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