- Elon Musk accused of illegally selling $7.5 billion in Tesla stock in Q4 2022.
- Lawsuit alleges Musk and board violated fiduciary duties by selling shares ahead of disappointing vehicle sales data.
- Shareholder seeks disgorgement of $3 billion in illegal gains and damages from directors for reckless behavior.
SpaceX would probably be more profitable if they didn’t have to spend so much time and resources on preventing Musk from interfering with things.
It’s mostly Tesla and Twitter that he’s wrecking, but yeah Shotwell does sometimes rescue SpaceX from terrible ideas he has, like canceling Falcon Heavy.
Twitter was wrecked with the purchase, it’s been on borrowed time since. The business is now worth less than the $13bn loan it took out to buy itself on Musk’s behalf. It was a leveraged buyout, just like every business that goes under after “being saddled with debt”.
I think you’re really undervaluing his contributions. Think of it from an employee of space X’s shoes
Having the big boss show up one day and yell “I want to launch my car out of orbit, start building a prototype right now, and everyone is doing overtime until it’s done! I’ll be sleeping in my office and walking around looking for excuses to fire people” is irreplaceable.
Do you think engineers build things just because that’s what they do? Obviously you need to have someone rich yelling at them and threatening to fire people