Elon Musk says he was involved in SolarCity discussions prior to Tesla merger
5 years, 4 months ago

Elon Musk says he was involved in SolarCity discussions prior to Tesla merger

LA Times  

“I could not be recused from all discussions. Tesla Inc. Chief Executive Elon Musk said he was involved in some discussions about the $2.6-billion acquisition of SolarCity in 2016, though he recused himself from a board vote approving the initial offer. The shareholders claim in the 3-year-old lawsuit that SolarCity was basically insolvent when the companies publicly announced plans to merge in June 2016 and was not worth the price ultimately negotiated by Tesla’s “conflicted fiduciaries.” They say they’ll prove that at trial. Tesla’s board first heard about Musk’s proposal to buy SolarCity at an emergency board meeting in late February 2016. It’s ironic.” The lawyers for Tesla’s board said that an independent financial advisor, Evercore, presented a detailed evaluation of four potential solar acquisition targets — SolarCity, Vivint Solar Inc., Sunrun Inc. and SunPower Corp. — but concluded that “SolarCity is the most attractive asset for Tesla in the solar market.” Attorneys for the board also stressed that Robyn Denholm, then an independent director and now Tesla’s chairman, spent hundreds of hours on due diligence and took an active role in discussing the deal with investors such as T. Rowe Price and Vanguard.

Board Tesla Solar Elon Musk Solarcity Cash Musk  discussions  tesla  involved  teslas  2016  solarcitys  solar  shareholders  prior  solarcity  elon  cash  musk  board  merger

History of this topic

Bill Gates to go bankrupt? Tesla CEO Elon Musk explains how
4 weeks ago

Bill Gates to go bankrupt? Tesla CEO Elon Musk explains how

India Today  

Elon Musk, the world’s richest man, said that Microsoft co-founder Bill Gates could face bankruptcy under certain circumstances involving Tesla, the electric vehicle company Musk leads. Musk wrote on X, “If Tesla does become the world’s most valuable company by far, that short position will bankrupt even Bill Gates.” This comment has reignited their long-standing feud over Gates’ alleged short …

Elon Musk’s shocking claim amid Tesla feud: ’That short position will bankrupt Bill Gates’
4 weeks, 1 day ago

Elon Musk’s shocking claim amid Tesla feud: ’That short position will bankrupt Bill Gates’

Live Mint  

Tesla CEO Elon Musk has reignited his longstanding feud with Bill Gates, claiming that Gates’ alleged short position against Tesla could potentially bankrupt the Microsoft founder. Musk’s latest tweet boldly declared, “If Tesla does become the world’s most valuable company by far, that short position will bankrupt even Bill Gates.” According to NDTV, the feud between the two tech billionaires …

Why Elon Musk needs lawyer approval to tweet about his own company Tesla
8 months, 1 week ago

Why Elon Musk needs lawyer approval to tweet about his own company Tesla

Hindustan Times  

The Supreme Court on Monday rejected an appeal from Elon Musk over a settlement with securities regulators that requires him to get approval in advance of some social media posts that relate to Tesla, the electric vehicle company he leads. SpaceX, Twitter and electric car maker Tesla CEO Elon Musk reacts as he visits the Vivatech technology startups and innovation …

Tesla $56bn payout that made Elon Musk one of the richest was illegal, not fair to shareholders, rules judge
11 months, 1 week ago

Tesla $56bn payout that made Elon Musk one of the richest was illegal, not fair to shareholders, rules judge

Firstpost  

A judge in Delaware, US has invalidated the $55.8 billion pay package granted to Elon Musk by Tesla in 2018. Judge Kathaleen McCormick ruled that the approval of the pay package by the Tesla board was “deeply flawed.” Elon Musk, Tesla’s CEO and a major shareholder took to his platform X to express his disappointment in the judgement, advising against …

What You Get When You Go Into Business With Elon Musk
55 years ago

What You Get When You Go Into Business With Elon Musk

Slate  

Around the time he was buying Twitter last year, Elon Musk borrowed a billion dollars from a different company he owns: SpaceX, which makes rockets. So he might get a lot of things he wants, even if those things don’t seem like they’ll provide much of a benefit to any shareholder of Company B except for, you know, Musk himself. …

Tesla stock plunges 6% after Elon Musk's 'master plan' fails to impress: Report
1 year, 10 months ago

Tesla stock plunges 6% after Elon Musk's 'master plan' fails to impress: Report

Hindustan Times  

Elon Musk’s much-hyped third Master Plan for Tesla Inc. fell flat with investors after failing to offer any firm detail on the company’s long-awaited next generation of electric cars. The four-hour presentation was long on Musk’s vision to build the next phase of Tesla’s growth around a sustainable energy future by moving into products like heat pumps, but short on …

Billionaire Musk likely to \'double down\' on tweets after court victory
1 year, 11 months ago

Billionaire Musk likely to \'double down\' on tweets after court victory

Deccan Chronicle  

Elon Musk may become even more emboldened in his Twitter use after a jury cleared the billionaire Tesla Inc chief executive over his missive that he had "funding secured" to take his electric car company private. Musk is likely to "double down" on his communication tactics after the verdict, said Minor Myers, a professor of corporate law at the University …

'Elon Musk didn't deceive investors,' says jury over 2018 Tesla tweets
1 year, 11 months ago

'Elon Musk didn't deceive investors,' says jury over 2018 Tesla tweets

Hindustan Times  

A jury on Friday decided Elon Musk didn’t deceive investors with his 2018 tweets about electric automaker Tesla in a proposed deal that quickly unraveled and raised questions about whether the billionaire had misled investors. Nicholas Porritt, an attorney who represented aggrieved Tesla investors, said he was disappointed after urging the jurors in his closing arguments to rebuke Musk for …

Ex-aide says Elon Musk had ‘handshake deal’ for Tesla buyout
1 year, 11 months ago

Ex-aide says Elon Musk had ‘handshake deal’ for Tesla buyout

Associated Press  

SAN FRANCISCO — Elon Musk’s former chief of staff on Wednesday testified that the billionaire believed he had a “handshake deal” to take Tesla private in 2018 shortly before he tweeted he had the financing for an aborted buyout that is still haunting him in a high-profile trial. Teller attributed Musk’s brusque manner to Asperger’s syndrome, a form of autism …

Elon Musk defends his tweets about taking Tesla private
1 year, 11 months ago

Elon Musk defends his tweets about taking Tesla private

Deccan Chronicle  

San Francisco: Elon Musk returned to federal court Monday in San Francisco, testifying that he believed he had locked up financial backing to take Tesla private during 2018 meetings with representatives from Saudi Arabia's Public Investment Fund —although no specific funding amount or price was discussed. “My SpaceX shares alone would have meant that funding was secured,” Musk said of …

Musk tells jury buying Tesla at $420 a share was no joke
1 year, 11 months ago

Musk tells jury buying Tesla at $420 a share was no joke

Hindustan Times  

Elon Musk on Monday told jurors that his 2018 tweet about taking Tesla private at $420 a share was no joke and that Saudi Arabia's sovereign wealth fund was serious about helping him do it. The case revolves around a pair of tweets in which Musk said, "funding secured" for a project to buy out the publicly-traded electric automaker, then …

Musk says he had ‘no ill motive’ with his privatising Tesla tweet
1 year, 11 months ago

Musk says he had ‘no ill motive’ with his privatising Tesla tweet

Al Jazeera  

Billionaire Elon Musk is on trial for fraud claims for his 2018 tweet that he had ‘funding secured’ to privatise Tesla at $420 per share. Elon Musk testified that he had “no ill motive” when he tweeted in 2018 that he had funding lined up to buy out his electric car company Tesla Inc, a claim that some shareholders have …

Elon Musk: Tweets about taking Tesla private weren’t fraud
1 year, 11 months ago

Elon Musk: Tweets about taking Tesla private weren’t fraud

Associated Press  

SAN FRANCISCO — Elon Musk returned to federal court Monday in San Francisco, testifying that he believed he had locked up financial backing to take Tesla private during 2018 meetings with representatives from Saudi Arabia’s Public Investment Fund — although no specific funding amount or price was discussed. Speaking in a soft halting tone, Musk said Monday he “had trouble …

Elon Musk defends 2018 Tesla buyout tweets: Report
1 year, 11 months ago

Elon Musk defends 2018 Tesla buyout tweets: Report

Hindustan Times  

Elon Musk took the witness stand Friday to defend a 2018 tweet claiming he had lined up the financing to take Tesla private in a deal that never came close to happening. Musk said he cares “a great deal” about investors and also railed against short sellers who make investments that reward them when a company's stock price falls The …

Musk's bankers consider new Tesla margin loans to slash Twitter debt: Report
2 years, 1 month ago

Musk's bankers consider new Tesla margin loans to slash Twitter debt: Report

Hindustan Times  

Billionaire Elon Musk's bankers are considering providing the Tesla Inc Chief Executive Officer with new margin loans backed by the U.S. automaker's stock to replace some of the high interest debt on his Twitter deal, Bloomberg News reported on Wednesday. The margin loans are one of the options that the Morgan Stanley-led bank group and Musk's advisers have discussed to …

Tesla investors worried as Elon Musk 'works and sleeps' at Twitter HQ
2 years, 1 month ago

Tesla investors worried as Elon Musk 'works and sleeps' at Twitter HQ

Hindustan Times  

In 2018, Elon Musk was working through the night and sleeping at Tesla Inc's factories in California and Nevada as the company struggled to ramp up production of the Model 3. Munster said he expects Twitter to consume Musk's attention for the next six to 12 months, adding that Tesla was a more developed company than in earlier days and …

Elon Musk’s pay package at Tesla challenged in court
2 years, 1 month ago

Elon Musk’s pay package at Tesla challenged in court

The Hindu  

Testimony began on November 14 in a Delaware courtroom where Tesla shareholders are challenging a compensation plan for CEO Elon Musk potentially worth more than $55 billion. The first witness called to testify was Ira Ehrenpreis, a prominent venture capitalist and longtime friend of Mr. Musk who chaired Tesla’s compensation committee when the grant was formulated. Mr. Musk would receive …

Elon Musk sells $3.95 billion worth of Tesla stock
2 years, 2 months ago

Elon Musk sells $3.95 billion worth of Tesla stock

The Hindu  

Twitter’s new owner and Tesla CEO Elon Musk has sold nearly $4 billion worth of Tesla shares, according to regulatory filings. Mr. Musk, who bought Twitter for $44 billion, sold 19.5 million shares of the electric car company from November 4 to November 8, according to Tuesday’s filings with the Securities and Exchange Commission. In all, Mr. Musk has sold …

Elon Musk arrives at Twitter with sink as he vows not to cut 75pc of jobs
2 years, 2 months ago

Elon Musk arrives at Twitter with sink as he vows not to cut 75pc of jobs

The Telegraph  

Elon Musk turned up at Twitter’s headquarters carrying a kitchen sink as he addressed staff on the eve of his $44bn takeover of the social media company. In a bizarre video posted on the social network, the Tesla billionaire enters Twitter’s San Francisco office carrying the sink, adding: “Let that sink in.” He also changed his Twitter description to: “Chief …

EXPLAINER: What’s next in Musk’s epic battle with Twitter?
2 years, 3 months ago

EXPLAINER: What’s next in Musk’s epic battle with Twitter?

Associated Press  

Elon Musk’s monthslong tussle with Twitter took another twist this week when the Tesla billionaire seemed to return to where he started in April — offering to buy the company for $44 billion. Twitter says it intends to close the deal at the agreed-upon price, but the two sides are still booked for an Oct. 17 trial in Delaware over …

Twitter shareholders approve Musk’s $44bn buyout offer
2 years, 3 months ago

Twitter shareholders approve Musk’s $44bn buyout offer

Al Jazeera  

Vote hands the outcome of the deal over to a US court battle between the social media giant and Tesla CEO Elon Musk. Shareholders at Twitter have approved Tesla CEO Elon Musk’s $44bn offer to buy the company, effectively leaving the deal’s outcome up to a looming court battle over the billionaire’s purchase of the social media giant. “Musk apparently …

Twitter sues Elon Musk to hold him to $44 billion merger
2 years, 5 months ago

Twitter sues Elon Musk to hold him to $44 billion merger

The Hindu  

Twitter Inc sued Elon Musk on Tuesday for violating the $44 billion deal to buy the social media platform and asked a Delaware court to order the world’s richest person to complete the merger at the agreed $54.20 per Twitter share, according to a court filing. The lawsuit accused Mr. Musk of “a long list” of violations of the merger …

Elon Musk's $44 Billion Twitter Deal Gets Board Endorsement
2 years, 6 months ago

Elon Musk's $44 Billion Twitter Deal Gets Board Endorsement

News 18  

NEW YORK: Twitter's board has recommended unanimously that shareholders approve the proposed $44 billion sale of the company to billionaire and Tesla CEO Elon Musk, according to a regulatory filing Tuesday. Musk reiterated his desire to move forward with the acquisition last week during a virtual meeting with Twitter employees, though shares of Twitter remain far below his offering price, …

Elon Musk’s ‘super bad feeling’ about the economy doesn’t mean mass layoffs are ahead
2 years, 7 months ago

Elon Musk’s ‘super bad feeling’ about the economy doesn’t mean mass layoffs are ahead

LA Times  

Tesla Chief Executive Elon Musk announced plans to cut 10% of the electric-car maker’s salaried workforce because he has a dire view of where the economy is headed, a projection that raised alarm on whether other companies will do the same. Musk sent a message to Tesla executives Thursday, according to a Reuters report, saying that he has a “super …

'Tesla On My Mind 24/7': Elon Musk Addresses Investors’ Concerns Amid Twitter Distraction
2 years, 7 months ago

'Tesla On My Mind 24/7': Elon Musk Addresses Investors’ Concerns Amid Twitter Distraction

ABP News  

New Delhi: Concerned over the sinking shares of the US electric carmaker Tesla, CEO Elon Musk tried to placate investors by sharing a meme on Thursday saying "Tesla is on my mind 24/7". Analyst Daniel Ives at Wedbush also slashed the target share price of Tesla due to the China production disruption and warned of "distraction risks" from Musk's Twitter …

Tesla on my mind 24/7, spending less than 5% of time on Twitter acquisition, says Elon Musk
2 years, 7 months ago

Tesla on my mind 24/7, spending less than 5% of time on Twitter acquisition, says Elon Musk

Firstpost  

Elon Musk’s latest tweets came in response to wary investors, who are worried that he may be distracted by the Twitter deal Multi-billionaire Elon Musk on Friday said that Tesla is on his mind all the time, in a way calming down the investors worried about him being distracted by a Twitter deal that has weighed on the stocks of …

Twitter: Elon Musk takeover announced with Tesla titan to shell out $44bn
2 years, 8 months ago

Twitter: Elon Musk takeover announced with Tesla titan to shell out $44bn

The Independent  

Sign up to our free weekly IndyTech newsletter delivered straight to your inbox Sign up to our free IndyTech newsletter Sign up to our free IndyTech newsletter SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Twitter has announced that the social media company will be sold to Tesla …

Elon Musk miffed with Bill Gates for shorting Tesla stocks, trolls him with distasteful meme
2 years, 8 months ago

Elon Musk miffed with Bill Gates for shorting Tesla stocks, trolls him with distasteful meme

India Today  

Tesla CEO Elon Musk is known for his tongue-in-cheek humour. Musk is now miffed with Microsoft co-founder Bill Gates for allegedly shorting the stocks of Tesla. The chats shared by a Twitter user named Whole Mars Catalog reveals that Musk got into an ugly spot with Bill Gates. “So has, apparently, Bill Gates hit up @elonmusk to discuss “philanthropy on …

Judge rules Musk’s tweets over taking Tesla private were false, investors say
2 years, 8 months ago

Judge rules Musk’s tweets over taking Tesla private were false, investors say

The Hindu  

A federal judge has ruled that Tesla CEO Elon Musk's 2018 tweets about having secured financing to take the company private were false, according to court filings by Tesla investors suing the billionaire over the tweets. The filing said that the court ruled April 1 that Musk's 2018 tweets were "false and misleading." Investors in the electric car maker asked …

Elon Musk Offers To Buy 100% Of Twitter
2 years, 8 months ago

Elon Musk Offers To Buy 100% Of Twitter

Huff Post  

LOADING ERROR LOADING Billionaire Elon Musk offered to buy 100% of Twitter for $54.20 per share in cash to take the company private, according to a Securities and Exchange Commission filing he released Thursday. I made an offer https://t.co/VvreuPMeLu — Elon Musk April 14, 2022 At a TED event later on Thursday, Musk acknowledged that he is “not sure” he’ll …

Elon Musk vows to fight for 'future of civilisation' following $43bn Twitter bid
2 years, 8 months ago

Elon Musk vows to fight for 'future of civilisation' following $43bn Twitter bid

The Telegraph  

Elon Musk has vowed to fight for the “future of civilisation” after launching an audacious $43bn takeover bid for Twitter. Twitter’s board was last night preparing to fight the takeover attempt by the world’s richest man, while one of its biggest shareholders said he also opposed Mr Musk’s plans. Twitter revealed on Thursday that it had received a $54.20-a-share bid …

Elon Musk denies he discussed Apple-Tesla merger with Tim Cook
3 years, 5 months ago

Elon Musk denies he discussed Apple-Tesla merger with Tim Cook

Live Mint  

Tesla Inc. Chief Executive Officer Elon Musk said on Friday that he never met with Apple Inc. about a potential takeover and slammed the tech giant’s App Store fees, calling them a “global tax on the internet.” He was responding to an upcoming book that says Apple CEO Tim Cook called Musk in 2016 about taking over Tesla. The book …

Musk deflects criticism of SolarCity deal, tells lawyer: ‘You are a bad human being’
3 years, 5 months ago

Musk deflects criticism of SolarCity deal, tells lawyer: ‘You are a bad human being’

LA Times  

Tesla Chief Executive Elon Musk speaks before unveiling the Model Y at the company’s design studio in Hawthorne. “I have great respect for the court,” Musk later added, “but not for you, sir.” The long-running shareholder lawsuit asserts that Musk, who was SolarCity’s largest stakeholder and its chairman, and other Tesla directors breached their fiduciary duties in bowing to Musk’s …

Musk under fire again: CEO to testify over Tesla acquisition
3 years, 5 months ago

Musk under fire again: CEO to testify over Tesla acquisition

Associated Press  

In the runup to Tesla Inc.'s 2016 acquisition of a company called SolarCity, Elon Musk hailed the deal as a “no brainer” — a purchase that would combine the leading maker of electric vehicles with a manufacturer of solar panels that can recharge EVs. Daniel Ives, an analyst at Wedbush Securities, called the acquisition a “clear black eye” for Musk …

Tesla's market value drops by $14 billion after Elon Musk tweets 'stock price too high'; CEO's stake down by $3 billion in value
4 years, 8 months ago

Tesla's market value drops by $14 billion after Elon Musk tweets 'stock price too high'; CEO's stake down by $3 billion in value

Firstpost  

In his Twitter tirade, Musk even claimed that he is selling almost all his physical possessions and that he will ‘own no house’ Tesla founder and CEO Elon Musk recently tweeted that the company’s share prices were too high. The tweet managed to wipe USD 14 billion off the carmaker’s value and set back Musk’s own stake in Tesla by …

Musk outburst over ‘fascist’ coronavirus shutdown shows pressure to keep up growth
4 years, 8 months ago

Musk outburst over ‘fascist’ coronavirus shutdown shows pressure to keep up growth

LA Times  

Elon Musk’s emotional eruption on a conference call with analysts Wednesday followed a couple of high-stress events. The order, he claimed, is “forcibly imprisoning people in their homes against all of their constitutional rights,” which is “not why people came to America and built this country.” After lauding China’s infrastructure, and criticizing the U.S. for the state of its airports …

Lawyer who helped Musk beat defamation suit now will take on Tesla investors
4 years, 10 months ago

Lawyer who helped Musk beat defamation suit now will take on Tesla investors

LA Times  

Elon Musk, chief executive officer of Tesla Inc., leaves the U.S. District Court, Central District of California in Los Angeles during his defamation trial. A Manhattan trial lawyer who helped Elon Musk defeat a defamation lawsuit by a British caver is now set to defend the Tesla Inc. chief executive in a fight with his shareholders. Alex Spiro, a partner …

Elon Musk knew SolarCity was going broke before merger with Tesla, lawsuit alleges
5 years, 3 months ago

Elon Musk knew SolarCity was going broke before merger with Tesla, lawsuit alleges

LA Times  

When Tesla bought SolarCity in November 2016, Elon Musk billed the deal as a match made in green energy heaven: Combine a hot electric car company with the nation’s then-largest provider of solar rooftop panels to create a one-stop shop for clean energy customers. The filings are part of a long-running suit filed by shareholder Ellen Prasinos on behalf of …

Tesla board must defend paying Elon Musk pay package
5 years, 3 months ago

Tesla board must defend paying Elon Musk pay package

CNN  

New York CNN Business — A Delaware judge ruled that Tesla’s board of directors must stand trial to defend chief executive Elon Musk’s multibillion dollar pay package. Vice Chancellor Joseph Slights, of the Delaware Court of Chancery, wrote that while Tesla disputed how much the package is worth, “it is reasonably conceivable” that the award is “well in excess of …

At Tesla annual meeting, Elon Musk softens claims of a robotaxi fleet next year
5 years, 6 months ago

At Tesla annual meeting, Elon Musk softens claims of a robotaxi fleet next year

LA Times  

Less than two months after touting a plan to put driverless taxis on the road, Tesla Chief Executive Elon Musk on Tuesday walked back the ambitious timetable. On April 22, just days before Tesla turned to public markets to raise $2.3 billion in debt and equity, Musk had announced at an event called Tesla Autonomy Day: “Next year for sure …

Elon Musk says he earned nothing from Tesla in 2018
5 years, 7 months ago

Elon Musk says he earned nothing from Tesla in 2018

Live Mint  

San Francisco: While his electric vehicle company Tesla struggles to make profit, tech mogul Elon Musk denied reports that claimed he had earned $2.3 billion in stock options in 2018. A Tesla fanpage took to Twitter slamming a news report from last week that said Musk made more in 2018 than the next 65 highest-paid CEOs combined, making him the …

Elon Musk and SEC settle dispute over Telsa CEO’s tweets
5 years, 8 months ago

Elon Musk and SEC settle dispute over Telsa CEO’s tweets

Associated Press  

WASHINGTON — Elon Musk and U.S. securities regulators have settled their dispute over the Tesla CEO’s tweets, with Musk agreeing to having his future communications regarding the electric-car maker pre-approved by a company-employed expert. The SEC said Musk violated the deal with a Feb. 19 tweet about Tesla vehicle production that wasn’t approved by the company’s “disclosure counsel.” The agency …

Elon Musk's defense of Tesla tweet to get a response from US SEC
5 years, 9 months ago

Elon Musk's defense of Tesla tweet to get a response from US SEC

Firstpost  

The renewed public battle between Tesla’s chief executive and the SEC adds pressure on Musk. The top U.S. securities regulator received permission from a federal judge on Tuesday to respond to Tesla Inc Chief Executive Elon Musk’s arguments that his Twitter post about the electric vehicle maker’s production volume did not violate his recent fraud settlement. Lawyers for Musk said …

Elon Musk hits back at US securities regulators for complaint about his Tesla tweet
5 years, 9 months ago

Elon Musk hits back at US securities regulators for complaint about his Tesla tweet

Firstpost  

The US Securities and Exchange Commission had asked the court to hold Elon Musk in contempt. Tesla Chief Executive Elon Musk shot back against US securities regulators on Monday, arguing in a filing that his recent tweet about the electric vehicle maker’s production volume did not violate his fraud settlement and he cannot be held in contempt. Musk’s “single, immaterial” …

Discover Related