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On April 24, an investigation by The New York Times revealed that SpaceX has long served as a crucial financial tool for Musk, not only providing low-interest loans to Musk himself but also funding his struggling companies such as Tesla and SolarCity. For example, Musk borrowed $500 million from SpaceX between 2018 and 2021 at interest rates far below market levels; SpaceX also purchased high-risk debt from SolarCity and ultimately recouped the funds through Tesla's acquisition. Additionally, SpaceX further integrated resources across Musk's business empire by acquiring his AI company, xAI. Currently, SpaceX is valued at over $1 trillion and plans to go public in the coming months, raising $75 billion in what could be one of the largest IPOs in history.
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