In 2013, Elon Musk and Tesla repaid a $465 million government loan nine years early, with penalties, and left a thank you note to American taxpayers. Initially received in 2010 to support EV innovation, Tesla became the first US automaker to fully repay an ATVM loan. Musk emphasized it was not just about the money but a statement of their commitment and ability. This act highlights Musk's dual roles as borrower and fiscal conservator.
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00:00Elon Musk paid off Tesla's $465 million government loan nine years early with penalties and left a thank you note.
00:08Back in 2010, Tesla was a gamble.
00:11The government stepped in with a half-billion-dollar loan to jumpstart EV innovation.
00:16And while most people drag their feet with debt, Musk ran at it.
00:19In 2013, Tesla cut a full check, interest and all, and became the first U.S. automaker to fully repay an ATVM loan.
00:27He even added a thank you message to the American taxpayer, I hope we did you proud.
00:32This wasn't just about money. It was a statement of we're here and we're serious.
00:36At the time, Musk said, if we have the ability, let's repay early.
00:41They believed in us. We owe it to them.
00:43Today, Musk is known more for cutting budgets than borrowing them.
00:47But this story reminds us that he's played both roles, borrower and fiscal watchdog.
00:52Follow Benzinga for more stories where business, government and bold personalities collide.