Musk has borrowed against Tesla shares continually, and for a long time. He also sold Tesla shares. But some numbers are hard to reconcile. The proxy statement, about which I've posted and the post got insta-flagged by the elonbrigade, puts a cap of 25% of share value on director and senior management margin debt.

With a 70%+ decline in share value, and a large percentage (Forbes reported over 90%) shares pledged, regardless of the terms Elon's margin creditors give him, I do not see how he is in compliance with Tesla's board's policy. Elon's brother had 75% of his shares pledged that are now worth 70% less, too. That don't math.

"Twitter’s owner has now sold $23 billion worth of Tesla stock this year[...]"

Ref: https://www.nytimes.com/2022/12/15/business/elon-musk-tesla-...

Presumably that went to financing his purchase of Twitter plus paying his taxes (capital gains and taxes on his additional stock grants) and keeping some as pocket change.

Real money borrowed using Tesla shares as collateral (IIRC).