Elon Musk

Elon Musk testifies in SolarCity suit, calls lawyer a 'bad human being'

Posted in REVIEWS on July 13, 2021
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Tesla CEO Elon Musk leaves court in Wilmington, Del., after taking the stand to defend Tesla Inc's 2016 deal for SolarCity. (Reuters) WILMINGTON, Del. — Tesla founder Elon Musk took to a witness stand Monday to defend his company’s 2016 acquisition of a troubled company called SolarCity against a lawsuit that claims he’s to blame for a deal that was rife with conflicts of interest and never delivered the profits he’d promised. And to the Read More »

Hybrid and Electric Luxury Car Sales Are On the Rise

Posted in LUXURY CARS on July 13, 2021
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Bentley Flying Spur Hybrid; Credit: Bentley 2020 was an unprecedented year for many industries and the automotive industry, in particular, saw a 20% drop year-on-year but registration for electric and hybrid vehicles grew more than 137% as compared to 2019. In the realm of luxury cars, there is a trend that buyers are switching to hybrid or electric cars (EVs). For example, in the first quarter of 2021, Porsche’s fully electric Taycan outperformed the Boxter, Read More »

Musk trial asks the $2 billion question: Who controls Tesla?

Posted in REVIEWS on July 9, 2021
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Does Elon Musk control Tesla or does Tesla control Elon Musk? More than $2 billion hinges on that question as a trial kicks off on Monday. Shareholders allege that Musk used his control of Tesla to force the company in 2016 to rescue SolarCity, saving the solar panel maker — and Musk's investment in the company — from bankruptcy. The union pension funds and asset managers leading the case want Musk to repay to Tesla Read More »

SEC letters say Tesla failed to oversee Musk's tweets as ordered

Posted in REVIEWS on June 2, 2021

A U.S. securities watchdog told Tesla last year that Chief Executive Officer Elon Musk's use of Twitter had twice violated a settlement requiring his tweets to be preapproved by company lawyers, the Wall Street Journal reported on Monday. The U.S. Securities and Exchange Commission had ordered the electric car maker to vet any material public communications Musk made regarding Tesla, following Musk's August 2018 tweet that he had "funding secured" to possibly take Tesla private Read More »

UFC fighter gets Tesla after calling out CEO Musk

Posted in REVIEWS on May 20, 2021

Beneil Dariush waited six months for Tesla to deliver a car he had ordered and decided to speed up the process by calling out the company's CEO Elon Musk immediately after his UFC 262 lightweight bout with Tony Ferguson last weekend. "Elon, where's my wife's car, bro?" Dariush said in his post-fight interview on Saturday. "I've been waiting six months. I'm having a baby, I need a good car, I've got to protect my daughter. Read More »

Burry of 'Big Short' fame reveals large bearish bet against Tesla

Posted in REVIEWS on May 18, 2021
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BERKELEY, Calif. — The family office run by "Big Short" investor Michael Burry has disclosed a large bearish bet via options on Tesla Inc. Scion Asset Management said in a regulatory filing on Monday that it had put options on 800,100 shares in Tesla as of the end of the first quarter. Based on Tesla's closing price of $667.93 at the end of the first quarter the value of that many shares would be about Read More »

Tesla stops accepting bitcoin as Musk decries its 'insane' energy use

Posted in REVIEWS on May 13, 2021
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Tesla boss Elon Musk denounced the "insane" amount of energy used to produce bitcoin on Thursday, doubling down on his sudden rejection of the cryptocurrency as a means of payment over environmental concerns. Bitcoin fell more than 10% after Musk, one of its most famous backers, tweeted his decision to suspend its use, less than two months after Tesla began accepting it as payment for its electric cars. Other cryptocurrencies, including ethereum, also fell before Read More »

Elon Musk hosts Saturday Night Live and shows humility and hubris

Posted in REVIEWS on May 9, 2021
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Elon Musk showed a combination of humility and hubris as he opened his highly anticipated hosting gig on “Saturday Night Live.” The 49-year-old Tesla CEO, SpaceX founder and one of the world’s richest men opened his monologue by mocking his monotonal speaking style, saying no one can tell when he's joking. “It’s great to be hosting 'Saturday Night Live,' and I really mean it,” said Musk standing on the stage in a black suit with Read More »

SpaceX Starship sticks the landing for the first time

Posted in REVIEWS on May 6, 2021
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SpaceX achieved the first successful touchdown of its prototype Starship rocket during the latest test flight of the next-generation launch vehicle in south Texas on Wednesday, after four previous landing attempts ended in explosions. The feat marked a key milestone for the private rocket company of billionaire tech mogul Elon Musk in its development of a reusable heavy-lift launch vehicle to eventually carry astronauts and large cargo payloads to the moon and Mars. The Starship SN15 blasted off from Read More »

Tesla ordered to turn over documents about Elon Musk's compensation

Posted in REVIEWS on May 4, 2021

DOVER, Del. — A Delaware judge on Monday ordered lawyers representing Tesla Inc. directors to turn over certain communications that CEO Elon Musk may have shared with the company’s top in-house attorneys before the board approved a compensation plan in 2018 that could net Musk more than $50 billion. The ruling by Vice Chancellor Joseph Slights Jr. came in response to a motion to compel filed on behalf of shareholders who have accused Musk and Read More »