Musk has been involved in a lot of controversial issues in the past few months alone, so it's no longer surprising if yet another one emerged. The latest matter that the Tesla CEO is involved in is his own company, wherein he is suspected of using company funds to pay for personal property.
Musk at It Again
Tesla's board members have conducted an investigation to get a close look at Musk's spending habits, specifically ones that appear to have been from the company's coffers. They suspect that the CEO has been using it to build a house made of glass.
The project is said to be nicknamed "Project 42," which will be built near Tesla's Gigafactory in Austin, Texas. A large purchase of a special kind of glass has amounted to millions of dollars spent, which was detected by the company's employees as well.
According to Engadget, a limited liabilities firm also linked the CEO and other executives to the purchase of large volumes of land in Austin. It's still unclear how much these all cost, but reports say that executives also got privileges like jets.
With millions spent, it should've been run past the board committee given that it was way beyond the expense limit of $120,000, and it had indications that the purchase was of a personal nature, not the company's.
Reports say that Project 42 already has concepts of how it will be built, which are the "twisted hexagon" and the glass cube. Signs that it was for personal use was the fact that it included kitchens, bathrooms, and even bedrooms.
The board also wanted to know if the project has taken worker time away from the company and was instead spent on the suspected glass house. If so, then Musk might be subjected to another financial issue, which he has seen plenty of in the last year.
Spending Habits of a Billionaire
Despite being the richest man in the world again after falling to second, it seems that Musk just can't escape financial problems. Aside from the alleged use of company funds, he has also been the target of several lawsuits due to unpaid debt.
Most of the mentioned debt stems from his acquisition of Twitter, which is shaping to be a bad decision more and more as months go by. For one, Musk took on huge debt in order to go through with the Twitter deal, and now, he is encountering problems with keeping it profitable.
Musk planned for Twitter to one day be an "everything app" worth $250 billion, but the company has only gone in the opposite direction, considering that it is only worth a third of its purchase value, as mentioned in Gizmodo.
Reports also say that Musk has unpaid debts to several landlords, as he failed to pay rent for many of its offices and headquarters. Ever since Musk downsized his workforce, Twitter did not need much space anymore, although not paying rent was not exactly the best thing to do.
