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Musk leveraged SpaceX loans to support Tesla, SolarCity
April 25th, 2026 - 09:10 GMT
Osama Ali

Osama Ali

Musk leveraged SpaceX loans to support Tesla, SolarCity

ALBAWABA - The New York Times' research has shown how Elon Musk uses SpaceX as a primary source of funding to sustain his personal liquidity as well as other businesses in his portfolio. The study claims that Musk obtained large loans from SpaceX, starting with $100 million in 2018 and growing to over $500 million over the next years. These loans were secured by his firm shares and had interest ...
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The VAT on new car purchases will be 5 percent of the vehicle’s value, starting from next year. (Karim Sahib/ AFP)
September 25th, 2017 - 11:21 GMT

Race Against Time for UAE Car Buyers: Pre-Vat Frenzy Starts Now

The plan is to privatize Saudia and Flyadeal together under the group parent company. (Shutterstock)
September 25th, 2017 - 10:31 GMT

Saudi Arabia to Include Flyadeal in Saudia’s Privatization Plan: Sources

$15 million will help support basic programmes for Palestinian refugees. (AFP/ File)
September 24th, 2017 - 01:21 GMT

UAE Donates $30 Million to UNRWA, UN Women

The move comes about a year after the UAE introduced its own bankruptcy law. (File photo)
September 24th, 2017 - 01:15 GMT

Saudi Arabia Introduces Bankruptcy Law in Bid to Attract Foreign Investment

Families on a tight budget can now pay in monthly installments, the airline said. (File photo)
September 24th, 2017 - 12:48 GMT

Etihad Launches 'Fly Now, Pay Later' for Families, Middle-Class Travelers

Qatar is relying on its gas exports to withstand the Saudi-led siege. (File photo)
September 24th, 2017 - 12:33 GMT

Qatar's Revenues From Gas Exports Enough to Withstand Siege: Minister

Flyadeal launched its first commercial flights on Saudi Arabia's national day. (File photo)
September 24th, 2017 - 11:52 GMT

Flyadeal Officially Launches With Jeddah-Riyadh Flight

The 27th Gitex Shopper has officially opened its doors to the public. (File photo)
September 24th, 2017 - 11:37 GMT

Gitex Shopper 2017 Kicks off in Dubai

The country had rejected sharia-based financing options in the 1990s. Pictured here: Algerian president, Abdelaziz Bouteflika. (AFP/ File)
September 24th, 2017 - 10:13 GMT

Algeria Turns to Islamic Banking to Fix Its Financial Woes, For First Time Ever

Saudi Arabia plans to shut down recruitment offices of housemaids. (AFP/ File)
September 24th, 2017 - 09:58 GMT

Saudi Arabia to Scrap Housemaid Recruitment Agencies: Ministry of Labor

The upcoming referendum on Kurdish independence has the potential to roil both geopolitical alliances and oil markets. (AFP/ File)
September 21st, 2017 - 12:13 GMT

Opinion: Will an Independent Kurdistan Cause a Rift in Oil Markets?

Saudi Arabia announced in April that it will implement total Saudization in shopping malls. (AFP/ File)
September 21st, 2017 - 11:53 GMT

Saudization Success: Jeddah’s Malls Achieve 40 Percent Saudization

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