Tesla Motors CEO Elon Musk spoke in an interview with Bloomberg TV on Thursday where he discussed returning the loan to the U.S. Department of Energy 9 years ahead of schedule with interest. U.S. taxpayers have also made a $20 million profit off of Tesla.
Elon Musk, the CEO of Tesla Motors, is proud that his company was able to pay off their federal loans on Wednesday. Below is a tweet that Musk wrote about the news:
Tesla Motors Inc (NASDAQ:TSLA) announced today that they have paid off their entire federal loan. The company took a $451.8 million loan with interest from the U.S. Energy Department in 2009.
Tesla Motors Inc (NASDAQ:TSLA) has been having a very great month. The company raised $1 billion in new capital after issuing more shares. The company also reported their first profitable quarter and outsold their German luxury counterparts. On Monday May 13, the company’s stock was trading at about $80 per share and it closed on Friday at $91.50 with a market cap of about $10.57 billion. So what’s next on deck? Superchargers! On Tuesday May 14th, Musk wrote a tweet saying “supercharger announcement pushed to next week. Something else this week.”
Tesla Motors Inc (NASDAQ:TSLA) has raised $1 billion in new capital after selling more shares in the company. Tesla plans to use the new capital to pay off a $452.4 million federal loan. After that, the company will have around $678.8 million in cash and cash equivalents with long term debt of $600 million, according to a company filing.
Tesla Motors Inc (NASDAQ:TSLA) announced after the market closed on Wednesday that they will be raising capital by offering 2.7 million shares of common stock and $450 million in convertible notes. Tesla Motors CEO Elon Musk is investing $100 million into the company by buying $45 million worth of shares in the public offering (530,410 shares at Wednesday close of $84.84) and another $55 million directly from Tesla in a private placement due.
I believe that it is fair to say that Tesla is having a great month. Recently Tesla Motors Inc (NASDAQ:TSLA) reported their first profitable quarter in their 10 year history. Consumer Reports also reported the Model S as being the best car they’ve every tested. And now there is a report that the Model S had a better sales quarter than their gas-powered German rivals.
Tesla Motors CEO Elon Musk and Yammer founder David Sacks have stepped down from Mark Zuckerberg’s political lobbying group FWD.us, according to Reuters. FWD.us started as an immigration reform group with $20 million in funding from Mark Zuckerberg. FWD.us funded advertisements that praise Republicans who support the Keystone pipeline. The Sierra Club, Progressives United, and MoveOn.org were several out of many progressive groups that boycotted FWD.us as a result of the ads.
