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.
2 February 2027
London, UK
Returning in 2027 for its 14th edition, Solar & Storage Finance Europe will bring together the brightest minds representing funds, banks, developers, utilities, government and industry across Europe and the UK on a programme that is solutions-focused from top to tail. The event is designed to enable leaders at the forefront of solar and storage investment and deployment in Europe to scale, learn and land themselves industry defining partnerships.

Read Next

Premium
August 7, 2026
PV Tech Premium spoke with several industry analysts about the FCC inverter ban and how it will impact the US solar industry.
Premium
August 7, 2026
Wood Mackenzie’s Joseph Shangraw discusses the challenges facing the US plug-in solar market and the pathway to wider adoption.
August 7, 2026
The US introduced a 15% tariff on imports of products using polysilicon and set minimum prices for polysilicon and its derivatives.
August 7, 2026
Solar module manufacturer Heliene has laid off 93 employees at its Mountain Iron solar module assembly plant in the US state of Minnesota.
August 7, 2026
Array Technologies reported revenue of US$342.1 million, gross margin of 29.1% and adjusted gross margin of 30.8% for Q2 2026.
August 6, 2026
Clearway Energy generated and sold 3,585GWh of solar power in the second quarter of 2026, up from 2,800GWh in Q2 2025.

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
February 2, 2027
London, UK
Solar Media Events
April 20, 2027
Istanbul, Türkiye