Elon Musk owes $507 million to banks helping Tesla raise capital

Tesla Inc Chief Executive Elon Musk personally owes $507 million to Wall Street banks involved in Tesla's stock and debt sale, backed by his stake in the electric car maker, a company filing showed on Thursday.

The lending was disclosed in Tesla's prospectus on Thursday to raise up to $2.3 billion with new shares and convertible debt, and it was $117 million less than the personal loans to Musk disclosed in Tesla's previous prospectus in 2017.

Still, Tesla said that if the price of its stock falls and the banks force Musk to sell some of his shares, that could create additional pressure on the stock.