Did Elon Musk Just Become SolarCity’s Unlikely Saviour?

Elon Musk’s Twitter Poll

Elon Musk, the CEO of Tesla and SpaceX, recently conducted a Twitter poll asking his followers if he should sell 10% of his Tesla stock. The results of the poll were overwhelmingly in favor of selling, with 57.9% of respondents voting yes. This led to Musk selling approximately $6.9 billion worth of Tesla stock.

SolarCity’s Financial Struggles

SolarCity, a solar energy company founded by Musk’s cousins, has been struggling financially for several years. The company has been losing money and has been heavily indebted. In 2016, Tesla acquired SolarCity in a deal that was widely criticized by investors.

Musk’s Potential Investment

Following the sale of his Tesla stock, there has been speculation that Musk may invest some of the proceeds in SolarCity. This would be a major boost for the company, which is in dire need of additional funding.

SolarCity’s Prospects

If Musk does invest in SolarCity, it could significantly improve the company’s prospects. Musk is a highly successful entrepreneur with a track record of success. He has also been a strong advocate for solar energy.

Impact on Tesla

It is unclear what impact Musk’s potential investment in SolarCity would have on Tesla. Some analysts believe that it could be a distraction for Musk and could take away from his focus on Tesla. Others believe that it could be a positive move for Tesla, as it would allow the company to expand its reach into the solar energy market.

Conclusion

It remains to be seen whether Musk will actually invest in SolarCity. However, the possibility of his involvement has raised hopes that the company may be able to overcome its financial challenges.