Elon musk own how much of tesla

News / World by Press Association 29/09/2018, 11:23 pm Updated: 30/09/2018, 9:47 am FacebookTwitterWhatsAppEmail Send us a story Sign up to our Daily newsletter Tesla chief Elon Musk and the electric car company have agreed to pay a total of 40 million dollars (£30 million) and make a series of concessions to settle a government lawsuit alleging he duped investors with misleading statements about a proposed buyout of the company. The Securities and Exchange Commission announced the settlement on Saturday, two days after filing a case seeking to oust Mr Musk as chief executive. The settlement will require him to relinquish his role as chairman for at least three years, but he will able to remain as chief executive. Tesla must hire an independent chairman to oversee the company. Mr Musk, a billionaire, and Tesla, a company that ended June with 2.2 billion dollars (£1.7 billion) in cash, are each paying 20 million dollars (£15 million) to resolve the … [Read more...] about Elon Musk to leave Tesla chairman role in £30m fraud case settlement

Elon Musk acknowledged Sunday that Tesla, at its current production rate, would “lose money and die” if it sold Model 3 mass-market sedans at the promised price of $35,000. Despite Tesla’s Model 3 website still stating that it “achieves 220 miles of range while starting at only $35,000 before incentives;” CEO Elon Musk took to Twitter to acknowledge that the company would go bankrupt if it tried to ship starting price units before reaching a minimum production rate above 5,000 units per week. Tesla began taking $1,000 reservations in March 2016 for its first mid-size all-electric-vehicle with a basic battery range of 215 miles. Within a week, the Tesla announced it had over 325,000 paid reservations. A year later, the number of paid Model 3 deposits indicated about 600,000 reservations. Musk tweeted just before Tesla’s July 28, 2017 “Handover Party” for the first 30 Model 3 vehicles that he was confident the company … [Read more...] about Musk: Tesla Selling $35K Model 3 Would ‘Lose Money and Die’

Tesla CEO Elon Musk has doubled down on his claims that one of the heroic rescuers that saved the lives of a Thai soccer team trapped in an underwater cave, Vern Unsworth, is a pedophile — now his 40-year-old girlfriend is hitting back. Recently, Tesla CEO Elon Musk accused Vernon Unsworth, one of the hero cave rescuers who saved the lives of a Thai soccer team, of being a “pedo guy.” Musk initially apologized for his accusations but resurfaced them recently when he questioned Unsworth’s innocence, asking why the cave rescuer wasn’t suing Musk if he had in fact been defamed — Unsworth has taken legal action, Musk was just not aware of this at the time.In a recent rant to a BuzzFeed news journalist that Musk considered off the record, Musk once again claimed that Unsworth was a pedophile and that he had married a 12-year-old bride in Thailand. Musk stated in an email: “I suggest that you call people you know in Thailand, find out … [Read more...] about Elon Musk Says Thailand Rescue Diver Has ‘Child Bride’ (His Girlfriend Is 40)

The Securities and Exchange Commission (SEC) Thursday accused Tesla chief Elon Musk of making false and misleading statements in August when he tweeted that he was “virtually certain” that he could take the electric car company private. The SEC has asked the court to bar Musk from as a director or officer of a public company, which would mean he would have to step down as the head of Tesla. It is also seeking monetary fines and penalties.The agency made its allegations in a lawsuit filed Thursday in federal court in Manhattan. The news of the lawsuit was first reported by Bloomberg. The SEC says Musk never discussed taking the company private at $420 per share with any funding source. A press conference has been scheduled by the agency at 5:00 p.m. to discuss the allegations. Breitbart News will continue to cover this lawsuit and other government actions against Tesla and Musk. … [Read more...] about SEC Sues Elon Musk, Seeks to Bar Him from Running a Publicly Traded Company

News / UK and world by Press Association December 10, 2018, 3:46 pm FacebookTwitterLinkedInWhatsAppEmail Sign up to our Daily newsletter Elon Musk says he “does not respect” the US Securities and Exchange Commission (SEC) as he defended his behaviour on Twitter. In September, the SEC sued Mr Musk for alleged securities fraud after a tweet from the Tesla boss suggested he had secured funding to take the car firm off the stock market and make it a private company. It impacted Tesla’s stock price and the SEC said it was “misleading”, with Mr Musk and Tesla eventually agreeing to pay a settlement fine. In an interview with the US network CBS, Musk said “I want to be clear. I do not respect the SEC. I do not respect them.” He said he paid the settlement because “I respect the justice system”. As part of the settlement agreement, Mr Musk also had to step down as Tesla chairman and was told his tweets should be … [Read more...] about Elon Musk ‘does not respect’ US regulator