Update: the article has been updated to reflect the fact that while Musk’s and the Rive brothers’ solar bonds were discharged like everyone else’s, they were transferred to regular bonds under the same terms.
SolarCity launched a Solar Bond Program in 2014. It was presented as an interesting way for people to invest in solar with minimum cost requirements and without having to install panels on their roof. Elon Musk himself, his cousins and SolarCity co-founders Lyndon and Peter Rive, and Musk’s rocket company, SpaceX, ended up being the biggest buyers in the program.
Now we learn that Tesla is discharging most of its solar bonds ahead of the maturity date and paying back all the principal with interests for the life of the bonds – though not for Musk and his cousins. expand full story