Tesla CEO Buys $17 Million Mansion; Got $465 Million Govt. Loan

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Tesla CEO Buys $17 Million Mansion; Got $465 Million Govt. Loan
by Wynton Hall

by Wynton Hall 29 Dec 2012, 7:48 AM PDT post a comment
Mr. Musk’s 20,248-square-foot hilltop mansion boasts breathtaking views, a two-story library with rolling ladder, a home theater, and a five-car garage to house his taxpayer-subsidized, pricey Tesla vehicles.

In September, the New York Times reported that Tesla had burned through cash and missed production targets, raising “questions about the long-term viability of the company” and igniting “ criticism of the government’s energy loan program, which has been heavily promoted by the Obama administration.” But Tesla says it has begun making payments on its government loan ahead of schedule.

Mr. Musk, who contributes to both Democrats and Republicans, donated over $100,000 to Mr. Obama’s 2012 campaign.

The Tesla Model S has a starting price of $57,000. Last quarter, Tesla produced just 359 cars.