Right after the start of the summer season, solar business heated up when SEC filing news noted that Elon Musk’s SpaceX would be purchasing an additional $75 million in solar-backed bonds from SolarCity (of which Elon is Chairman), boosting its total investment to $165 million.
Elektrek writer Fred Lambert recently reported this investment comes “just after a major setback for SpaceX, its Flacon 9 rocket exploded Sunday morning on a mission to resupply the International Space Station.”
SpaceX was started by Musk in 2002, and has a goal of “making humans a multi-planetary species.”
LearnBonds provided this perspective on the SEC filing:
There is no major business link between SolarCity and SpaceX and the two firms operate in very different sectors. One thing they do have in common, however, is that those with cash, or emotional investment, behind them tend to believe in the vision of Elon Musk.
Those with shares in Tesla Motors Inc (NASDAQ:TSLA) and SolarCity Corp believe deeply in the future that he has outlined, and they think they can make money by getting there.
The influence of 43-year old Elon Musk’s investment vision is something to be reckoned with. As writer Jay Taylor puts it, “Shares of Tesla and SolarCity are up around 84% and 65% respectively over the past year, so I know I’m not the only one who believes in the Elon Musk future.”
Image: Elon Musk via Shutterstock