“SolarCity revealed in a recent SEC filling that the company expects SpaceX, Elon Musk’s rocket company, to buy $75 million in “SolarBonds”. Earlier this year, SpaceX already purchased $90 million in solar-backed bonds from SolarCity, just 2 months after the aerospace company landed a $1 billion equity deal with Google and Fidelity. If this second purchase goes through, SpaceX will be holding $165 million in SolarCity debt backed by solar assets.”
The Center for Business and Responsible Government (CBRG) is a non-partisan organization dedicated to highlighting cronyism and its effect on American taxpayers and policy. We believe public officials should establish an even playing field for all businesses to compete in the marketplace, not just those special interests who line their pockets.