Dec. 17, 2024
Morgan Stanley Offers SpaceX Staff Loans as Value Soars
TMTPOST -- Morgan Stanley is stepping in to assist SpaceX employees with a new specialized lending program, offering them loans against their shares in the rapidly growing company. This move comes as SpaceX's valuation hits a record $350 billion, significantly boosting Elon Musk's net worth. The bank's lending program allows employees to access funds tied to their SpaceX shares without selling their equity stake. This financial support comes as the company's valuation continues to rise, driven by its impressive achievements in the rocket and satellite industry. SpaceX employees now have the opportunity to cash in on the skyrocketing value of their shares while maintaining their involvement in the company’s future growth. Sources familiar with the matter revealed that the program is designed to help employees unlock liquidity from their shares without the need to part with their stake in the company.
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