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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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Financial backing from Saudi Arabia’s Public Investment Fund (PIF), announced last year, will allow Lucid to proceed with the development of the all-electric sedan, as well as fund the $240 million cost of building the first phase of its factory in the US. (Arab News)
February 21st, 2019 - 08:52 GMT

Tesla Rival Lucid Motors Mulls Building Factory in Saudi Arabia

Indian Prime Minister Narendra Modi shakes hands with Saudi Crown Prince Mohammed bin Salman prior to a meeting at Hyderabad House in New Delhi on February 20, 2019. (AFP)
February 21st, 2019 - 08:23 GMT

Saudi Investment in India to Reach $100 Billion Within Two Years


The runway is being closed for a "complete refurbishment". (Shutterstock)
February 21st, 2019 - 07:56 GMT

All You Need to Know About Dubai International Airport Runway Closure

UAE, Saudi Arabia account for more than 66% of GCC construction activity. (Shutterstock)
February 21st, 2019 - 07:38 GMT

GCC's Construction Activity Remains Strong With $2.38 Trillion Worth of Projects

A hacker has already developed a method to install malware on a pre-2017 Amazon Echo. (Shutterstock)
February 20th, 2019 - 12:17 GMT

Are Our Conversations Being Leaked by Our Digital Assistants?

South Korea is the third-largest buyer of Iranian oil. (Shutterstock)
February 20th, 2019 - 10:00 GMT

Despite US Sanctions, S. Korea Ships in Over $100 Million Worth of Iranian Oil

World Bank Regional Director Saroj Kumar Jha said the pledges - upward of $12 billion in soft loans and grants - were not at risk. (Shutterstock)
February 20th, 2019 - 09:33 GMT

Lebanon Back on CEDRE Track to Unlock $12 Billion of Loans and Grants

Despite significant additional supply to the market in 2019 and 2020 from existing projects, S&P expects very few launches this year and the next year because developers will pull back supply in response to lower margins due to falling prices. (Shutterstock)
February 20th, 2019 - 09:23 GMT

Report: Dubai Property Prices to Remain Low Until 2020

An official at the IACC said on Tuesday that a specialised team overseeing the matter found that the value of the 667 forged exemptions amounted to JD1,459,000, Petra reported. (Shutterstock)
February 20th, 2019 - 09:10 GMT

Jordan Identifies More Than 1.45 Million JDs Worth of Forged Medical Exemptions

The rules for dealing with expatriates who violate the laws already exist. Several important points include the non-permissibility of allowing the worker to work separately or for others by his employer. (Shutterstock)
February 20th, 2019 - 08:58 GMT

Saudi Cracks Down on Violating Expats

According to Xinhua, Zarif expressed Tehran’s desire to take part in China’s massive infrastructure development project. (Shutterstock)
February 20th, 2019 - 08:47 GMT

Iran Wants in on China's Belt and Road Initiative

The UAE Armed Forces has awarded 28 deals worth Dh4.87 billion ($1.32 billion) on the third-day of the International Defence Exhibition (Idex) and the Naval Defence and Maritime Security Exhibition (Navdex). (Shutterstock)
February 20th, 2019 - 08:41 GMT

IDEX Witnesses Record $4.59 Billion Contracts From UAE Armed Forces

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