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

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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.

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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.

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