Musk and the Rives buy US$100 million of SolarCity bonds

Facebook
Twitter
LinkedIn
Reddit
Email

Elon Musk and his SolarCity executive cousins have purchased US$100 million of the company’s latest bond issue.

SEC filings show that Musk personally purchased US$65 million worth, while CEO Lyndon Rive and CTO Peter Rive purchased US$17.5 million worth each. The US$124 million solar bond issue was launched on the 17 August. The company also announced that the Rive's would waive their salaries as a round of job cuts approached.

This article requires Premium SubscriptionBasic (FREE) Subscription

Try Premium for just $1

  • Full premium access for the first month at only $1
  • Converts to an annual rate after 30 days unless cancelled
  • Cancel anytime during the trial period

Premium Benefits

  • Expert industry analysis and interviews
  • Digital access to PV Tech Power journal
  • Exclusive event discounts

Or get the full Premium subscription right away

Or continue reading this article for free

Musk has previously purchased SolarCity bonds via his SpaceX company.

The move further entwines Musk, already SolarCity’s largest shareholder, with SolarCity ahead of a proposed all-stock acquisition by Tesla.

13 October 2026
San Francisco Bay Area, USA
PV Tech has been running an annual PV CellTech Conference since 2016. PV CellTech USA, on 13-14 October 2026 is our fourth PV CellTech conference dedicated to solar manufacturing in the USA. From polysilicon, wafers, ingots, cells and modules, to critical component suppliers including glass and frames, the event connects every stage of the value chain under one roof. PV CellTech USA also brings together investors, innovators, manufacturers and industry stakeholders to collaborate and strengthen domestic solar manufacturing across the United States.

Read Next

August 4, 2026
Indian solar module manufacturer Kosol Energie has launched a new n-type glass-glass hail-resistant module.
August 4, 2026
Solar developer RWE has signed a power purchase agreement (PPA) with tech giant Google to power data centre operations in Oklahoma, US.
August 4, 2026
Tandem PV has acquired fellow nexTC, which develops thin-film metal oxide coating processes for use in tandem solar modules.
August 4, 2026
T1 Energy has signed a module supply deal with Clearway Energy. The modules will use domestically-produced cells from T1’s Austin facility.
August 4, 2026
Solar growth changes how operators think about inspections, as they must ensure that thousands of panels are producing at peak efficiency.
August 3, 2026
Glenn Davis at Kiwa PI Berlin writes about why quality assurance has become one of the foundations for a solar PV project's bankability.

Upcoming Events

Solar Media Events
October 13, 2026
San Francisco Bay Area, USA
Solar Media Events
November 3, 2026
Málaga, Spain
Solar Media Events
November 24, 2026
Warsaw, Poland
Solar Media Events
April 20, 2027
Istanbul, Türkiye