Elon Musk borrowed $1 billion from SpaceX in same month of Twitter deal - WSJ

FILE PHOTO: Chief Executive Officer of SpaceX and Tesla and owner of Twitter, gestures as he attends the Viva Technology conference dedicated to innovation and startups at the Porte de Versailles exhibition centre in Paris, France, June 16, 2023. REUTERS/Gonzalo Fuentes

(Reuters) - Elon Musk withdrew a loan of $1 billion from SpaceX - the two-decade-old rocket company run by the billionaire - around the same time he was acquiring Twitter, now known as X, for $44 billion, the Wall Street Journal reported on Tuesday.

SpaceX approved the $1 billion loan, which was backed by some of Musk's SpaceX stock, in October and Musk drew all of it down the same month, according to the report, citing documents. Musk took ownership of Twitter in October.