Musk and Rive Brothers Buying $100 Million of SolarCity Bonds
- Musk is chairman and biggest shareholder of SolarCity
- SolarCity agreed this month to be acquired by Tesla Motors
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Elon Musk and his cousins Lyndon Rive and Peter Rive are buying $100 million of solar bonds from their rooftop solar company, SolarCity Corp.
Musk is personally buying $65 million of bonds, San Mateo, California-based SolarCity said in a filing Tuesday. Lyndon Rive, SolarCity’s chief executive officer, and Peter Rive, its chief technology officer, are each buying $17.5 million.