How America’s Richest People Can Access Billions Without Selling Their Stock

<p>When the world’s richest man, Elon Musk, wants cash, he can simply borrow money by putting up—or pledging—some of his Tesla shares as collateral for lines of credit, instead of selling shares and paying capital gains taxes. These pledged shares serve as an evergreen credit facility, giving Musk access to cash when he needs it.</p>