Report: Elon Musk made at least $15 million from Tesla’s IPO

Tesla Motors Inc. raised at least $15 million from its initial public offering. CEO Elon Musk said that it has started to restore some of what was staked on the company and other startups.

Tesla set a price of $17 per share and Musk sold 908,958 shares. Last Tuesday, Tesla stock rose by about 41% — the second-biggest rally for a US IPO. Last February, Musk said that he possessed $650,000 in “liquid assets” and that he got loans from friends to pay fees and support for estranged wife Justine Musk. Musk had actually gained about $300 million from selling PayPal Inc. and Zip2 Corp.
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Terry989 - 7/1/2010 9:33:24 PM

+3 Boost

He hasn't made $15M until he sells his stock - - - which will be a 6-month holding period. Let's see where the stock is in 6-months.