Comment Re:Said it at the spcx IPO (Score 1) 135
He was royally pissed when those pesky investors sued him over his pay package at tesla.
To be clear, he was sued by a single investor, Greg Varallo. Greg owned a whopping 9 shares of TSLA. Greg is also a prominent Corporate Lawyer.
Musk's compensation package required Tesla to grow to an unprecedented size for him to receive the compensation. Musk recieved NO salary - he would only be compensated as Tesla grew by reaching these various milestones. When the compensation package was first announced, all the news outlets talked about how it would be impossible for Tesla to reach all of those goals. But then the Model Y became the best selling car in the world, and Tesla actually started reaching those goals. The stock price increased by several multiples. And THAT's when Greg brought his lawsuit. Personally, I thought the compensation package was good - Musk only got paid as Tesla grew by leaps and bounds, which would also benefit stock holders.
The problem with a SpaceX buyout of Tesla, is that those remaining milestones become null and void. I'm worried that this is going to have a negative effect on TSLA shareholders.