Home / Auto News / News article: Report: Tesla CEO Elon Musk Is Broke - AutoGuide.com News
 |  Jun 01 2010, 10:58 AM

At 38 years old, Elon Musk has already lived a life filled with more adventures and pitfalls than most of us can fathom. The founder of PayPal, Tesla Motors and SpaceX was also a one time owner of a McLaren F1, the holy grail of car collecting, and served as the inspiration for Tony Stark, aka Iron Man, in the latest films inspired by the Marvel Comic franchise.

Unlike the real Tony Stark, Musk is currently mired in a messy divorce, and the latest court filings show that he is pretty much flat broke, relying on “emergency loans” from friends, which we presume is the wealthy billionaire version of asking “Dude, can I crash on your couch?”

While various gossip blogs are injecting their own analysis into the mix (it doesn’t help that Musk left his wife for 24-year-old actress Talullah Riley), The Truth About Cars’ Bertel Schmitt managed to extrapolate just how the divorce problems will affect Tesla Motors (emphasis added by Autoguide).

If Tesla’s IPO is successful, his finances would look brighter. But there are two problems. The court has slapped a protective order on Musk’s holdings, says Venturebeat. He won’t be able to liquidate significant holdings without first getting permission from his ex-wife. That’ll cost him. Then, there is the matter of how Musk’s precarious finances will affect the IPO.

Should the IPO fail, then no money from Toyota – it’s contingent on the successful IPO. We, the U.S. taxpayer likely won’t see any of the money the Department of Energy loaned Tesla. Should the IPO succeed and the Tesla stock sink afterwards, then you won’t have to wait long for an onslaught of lawyers. The dirty laundry most likely will feature prominently.

If you think that’s bad, wait till you see what Musk’s ex-wife is asking for in the divorce settlement.

[Source: The Truth About Cars]