Photo: BloombergSouthfield/San Francisco: Elon Musk has a lot riding on his plan to merge Tesla Motors Inc. with SolarCity Corp.—including a big chunk of his $8.3 billion fortune. If the proposed acquisition by Tesla doesn’t come to pass, and SolarCity burns out, Musk will take a relatively minor hit. The bigger threat to Musk’s bank accounts would come from SolarCity dragging down Tesla in a combined company. By 2008, both were running on fumes, with Tesla hemorrhaging money and SpaceX’s first three rocket launches having failed to reach orbit. “There is no level of risk that is too high for Elon Musk,” said Mike Ramsey, an analyst at Gartner Inc. “That’s absolutely clear.

Source: Mint September 02, 2016 03:11 UTC