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What You Get When You Go Into Business With Elon Musk

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. …

— Delaware’s Supreme Court has upheld a judge’s decision in favor of Tesla CEO Elon Musk in a lawsuit challenging the electric car maker’s $2.4 billion acquisition of a solar panel company founded by two of his cousins. The court on Tuesday rejected arguments from a group of Tesla shareholders that a Chancery Court judge erred in finding that Tesla’s …

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 …

Elon Musk

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 is fighting multiple really ugly court fights at once

New York CNN Business — Elon Musk is in the midst of numerous legal battles charging that he’s watching out more for his own interests than those of Tesla’s shareholders. The suit charges that cash crunch made Tesla’s acquisition more of a “bailout” of one of Musk’s companies than a strategic merger that would benefit Tesla, as Musk argued. “But …

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

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 …

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

“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 …