Musk Uses SpaceX's Financial Power to Halve Interest Costs
Elon Musk has leveraged a $20 billion bridge loan secured by SpaceX, with an effective interest rate of 4.58%, to refinance high-interest debt from his social media and AI companies like X and xAI, which had rates as high as 12.5%. This move is expected to cut annual interest costs in half, reducing them to around $900 million.
Topics: bridge loan conglomerate strategy Elon Musk interest costs SpaceX