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Search resuls for: "Rebecca Elliott"


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☆ Elon Musk’s Tesla Compensation Trial in Delaware Court Kicks Off
  + stars: | 2022-11-14 | by ( Rebecca Elliott | Meghan Bobrowsky | ) www.wsj.com   time to read: 1 min
WILMINGTON, Del.—The trial over Elon Musk‘s multibillion-dollar pay package at Tesla Inc. kicked off Monday morning in Delaware’s business-law court. A Tesla shareholder, Richard Tornetta , is seeking to nullify Mr. Musk’s 2018 compensation grant, valued at around $52 billion at recent share prices. The plaintiff is alleging that the board at the time failed to disclose crucial information about the package to shareholders, who signed off on it.
☆ Elon Musk, Tesla Board Members to Defend CEO’s Pay in Court
  + stars: | 2022-11-13 | by ( Rebecca Elliott | ) www.wsj.com   time to read: 1 min
Tesla CEO Elon Musk, whose pay package was valued recently at around $52 billion, is the world’s richest man, according to the Bloomberg Billionaires Index. Elon Musk is headed to court this week to defend his multibillion-dollar pay package at Tesla Inc.A Tesla shareholder is asking Delaware’s business-law court to rescind Mr. Musk’s CEO pay package, which was approved in 2018 and is valued at around $52 billion at recent share prices. The plaintiff has alleged that Tesla’s board at the time failed to disclose key information about the deal and how it came together.
☆ Elon Musk Made Unusual Request in Falling Out With Top Tesla Lieutenant
  + stars: | 2022-11-11 | by ( Rebecca Elliott | Emily Glazer | Tim Higgins | ) www.wsj.com   time to read: 1 min
Last year, Elon Musk parted ways with one of his top deputies at Tesla Inc., a French auto-industry executive named Jerome Guillen . Mr. Guillen worked at Tesla for roughly a decade, rising to oversee the company’s car division. He was rewarded with equity grants that swelled with Tesla’s valuation. By the end of 2020, Mr. Guillen’s unvested equity in the car maker was valued at around $600 million, according to an Equilar Inc. analysis.
☆ Elon Musk Made an Unusual Request in Fallout With a Top Lieutenant
  + stars: | 2022-11-11 | by ( Rebecca Elliott | Emily Glazer | Tim Higgins | ) www.wsj.com   time to read: 1 min
Last year, Elon Musk parted ways with one of his top deputies at Tesla Inc., a French auto-industry executive named Jerome Guillen . Mr. Guillen worked at Tesla for roughly a decade, rising to oversee the company’s car division. He was rewarded with equity grants that swelled with Tesla’s valuation. By the end of 2020, Mr. Guillen’s unvested equity in the car maker was valued at around $600 million, according to an Equilar Inc. analysis.
☆ Elon Musk Sells Almost $4 Billion of Tesla Stock After Twitter Takeover
  + stars: | 2022-11-08 | by ( Rebecca Elliott | ) www.wsj.com   time to read: 1 min
Elon Musk closed his purchase of Twitter less than two weeks ago. Elon Musk sold almost $4 billion in Tesla Inc. stock over several days after completing the $44 billion purchase of Twitter Inc.Mr. Musk sold 19.5 million shares in Tesla Nov. 4-8, according to regulatory disclosures made public Tuesday.
☆ Elon Musk Revamps Twitter With Help From Tesla Staff
  + stars: | 2022-11-04 | by ( Alexa Corse | Rebecca Elliott | Robert Mcmillan | ) www.wsj.com   time to read: 1 min
Elon Musk has leveraged his diverse business empire in his first week owning Twitter Inc., blurring the line between the newly private social-media company and Tesla Inc., the electric-car maker he also runs. Tesla engineers were among the first outsiders to begin working on reshaping Twitter after Mr. Musk completed his $44 billion takeover a week ago, part of at least dozens of people added to an internal company directory, according to documents viewed by The Wall Street Journal. The list included some people who appear to work for the Boring Co., a tunneling business Mr. Musk founded.
☆ SEC, DOJ Probe Tesla Over Statements About Autopilot Functionality
  + stars: | 2022-10-28 | by ( Dave Michaels | Rebecca Elliott | ) www.wsj.com   time to read: 1 min
WASHINGTON—Federal prosecutors and securities regulators are investigating whether Tesla Inc. misled consumers and investors about how its advanced driver-assistance system performed, according to a person familiar with the matter. The Justice Department is looking at statements that Tesla and its executives made about the safety and functionality of the system known as Autopilot, the person said. The Securities and Exchange Commission is conducting a similar civil investigation, people familiar with the matter said.
☆ Elon Musk Calls Tesla ‘Recession-Resilient’ as Wall Street Eyes Demand
  + stars: | 2022-10-21 | by ( Rebecca Elliott | ) www.wsj.com   time to read: 1 min
Years of consistent quarterly profits have given Tesla a war chest rivaling that of some legacy auto makers. Elon Musk is calling Tesla “recession-resilient,” dangling a potential share repurchase and continued production increases even in the case of a possible economic downturn. Tesla spent years careening from crisis to crisis with little in the way of a cash cushion. The company neared bankruptcy in 2008, when funding dried up during the recession, and again roughly a decade later as it struggled to increase production of its Model 3 car.
☆ Tesla Cuts 2022 Vehicle-Delivery Target, but CEO Musk Says Demand Remains Strong
  + stars: | 2022-10-20 | by ( Rebecca Elliott | ) www.wsj.com   time to read: 1 min
Tesla cut its full-year growth expectations as it adjusts vehicle-shipping patterns, but Chief Executive Elon Musk brushed off worries about weakening demand amid recession fears. The company expects to “sell every car that we make for as far into the future as we can see,” Mr. Musk said as Tesla reported near-record quarterly profit.
☆ Tesla Poised for Near-Record Earnings as Demand Concerns Loom
  + stars: | 2022-10-19 | by ( Rebecca Elliott | ) www.wsj.com   time to read: 1 min
Tesla is expected to report near-record quarterly profit, but Wall Street has grown jittery about the company’s ability to meet this year’s growth target amid global economic uncertainty. Elon Musk’s electric-vehicle maker so far has brushed off worries about weakening demand. Strong vehicle pricing is forecast to have helped Tesla generate around $3.2 billion in quarterly profit for the three months ended in September, according to analysts surveyed by FactSet, up from $1.6 billion a year earlier. That would be just shy of the company’s record quarterly profit of $3.3 billion, set in the first quarter.
☆ Tesla Cuts 2022 Vehicle-Delivery Target Though Says Demand Remains Strong
  + stars: | 2022-10-19 | by ( Rebecca Elliott | ) www.wsj.com   time to read: 1 min
Tesla cut its full-year growth expectations as it adjusts vehicle-shipping patterns, but Chief Executive Elon Musk brushed off worries about weakening demand amid recession fears. The company expects to “sell every car that we make for as far into the future as we can see,” Mr. Musk said as Tesla reported near-record quarterly profit.
☆ Elon Musk’s Tesla Tweets Trial: What We Learned From His Testimony
  + stars: | 2018-08-07 | by ( Rebecca Elliott | Meghan Bobrowsky | ) www.wsj.com   time to read: 1 min
Elon Musk, over three days of testimony during the past week, gave his reasoning behind the 2018 tweet in which the Tesla Inc. chief executive said he had secured funding to take the electric-car maker private. The trial centers on the now-famous tweet by Mr. Musk from Aug. 7, 2018, that reads: “Am considering taking Tesla private at $420. Funding secured.” A class of Tesla investors are suing Tesla, Mr. Musk and other board members at the time, arguing the tweet spurred investment decisions that led them to collectively lose billions of dollars as it became clear a deal wouldn’t take place.
☆ Elon Musk Testifies in Tesla Tweets Trial That He Was Trying to Inform Investors
  + stars: | 2018-08-07 | by ( Rebecca Elliott | Meghan Bobrowsky | ) www.wsj.com   time to read: 1 min
Elon Musk testified in federal court Tuesday that he tweeted about potentially taking Tesla Inc. private in 2018 to share his thinking with shareholders and that he intended to convey that funding wouldn’t be an issue. The class-action case being tried in San Francisco centers on the Tesla chief executive’s tweets more than four years ago floating the possibility of taking the company private and the effect they had on investors’ decision-making. Investors say they lost billions of dollars because of the tweets. “Am considering taking Tesla private at $420. Funding secured,” Mr. Musk, then serving as both Tesla’s chairman and CEO, tweeted on Aug. 7, 2018.
☆ Elon Musk Testifies for Third Day in Tesla Tweets Trial
  + stars: | 2018-08-07 | by ( Rebecca Elliott | Meghan Bobrowsky | ) www.wsj.com   time to read: 1 min
Elon Musk returned to the stand Tuesday for a third day of testimony in a case brought by investors who say they lost money because of his tweets proposing to take Tesla Inc. private. The class-action case being tried in federal court in San Francisco centers on the Tesla chief executive’s tweets more than four years ago floating the possibility of taking the company private and the effect they had on investors’ decision-making. “Am considering taking Tesla private at $420. Funding secured,” Mr. Musk, then serving as both Tesla’s chairman and CEO, tweeted on Aug. 7, 2018. He later added, “Investor support is confirmed.”
☆ Elon Musk Headed Back to Court Over Tesla Tweets
  + stars: | 2018-08-07 | by ( Rebecca Elliott | ) www.wsj.com   time to read: 1 min
Elon Musk is due back on the stand Monday in a case brought by investors who say they lost money because of his tweets proposing to take Tesla Inc. private. The class-action case being tried in federal court in San Francisco centers on the Tesla chief executive’s tweets more than four years ago floating the possibility of taking the company private and the effect they had on individual investors’ decision-making. “Am considering taking Tesla private at $420. Funding secured,” Mr. Musk, then serving as both Tesla’s chairman and CEO, tweeted on Aug. 7, 2018. He later added, “Investor support is confirmed.”
☆ Elon Musk Flags Tweets’ Limitations in Tesla Trial
  + stars: | 2018-08-07 | by ( Rebecca Elliott | ) www.wsj.com   time to read: 1 min
Elon Musk quickly focused on the structural limitations of Twitter as he took the stand Friday in a case brought by investors over losses they allege were caused by his tweets about potentially taking Tesla Inc. private. The social-media platform where Mr. Musk typed two now-infamous words on Aug. 7, 2018—“funding secured”—limits the length of tweets.
☆ Elon Musk Among Next Set of Witnesses in Tesla Tweets Trial
  + stars: | 2018-08-07 | by ( Rebecca Elliott | ) www.wsj.com   time to read: 1 min
Elon Musk could take the stand as soon as Friday in a federal trial over investor losses allegedly caused by his tweets proposing to take Tesla Inc. private. Mr. Musk’s frame of mind when he typed two now-infamous words—“funding secured”—while en route to the airport on Aug. 7, 2018, has emerged as an area of focus in the San Francisco jury trial that kicked off this week.
☆ Elon Musk Trial Over Tesla Tweets Heads for Opening Statements
  + stars: | 2018-08-07 | by ( Rebecca Elliott | Meghan Bobrowsky | ) www.wsj.com   time to read: 1 min
Attorneys are poised to present opening statements Wednesday in a federal trial related to Elon Musk’s 2018 tweets floating the possibility of taking Tesla Inc. private. The class-action case stems from an Aug. 7, 2018, tweet in which Mr. Musk, then Tesla’s chairman and chief executive, said, “Am considering taking Tesla private at $420. Funding secured.” He later added, “Investor support is confirmed.”
☆ Elon Musk, Tesla Poised for Trial Over Tweets Proposing to Take Car Maker Private
  + stars: | 2018-08-07 | by ( Rebecca Elliott | Meghan Bobrowsky | ) www.wsj.com   time to read: 1 min
Elon Musk is headed to court in a securities-fraud trial over tweets from 2018 in which he floated the possibility of taking Tesla Inc. private, with in-person jury selection poised to begin Tuesday. The class-action case originates with an Aug. 7, 2018 tweet in which the Tesla chief executive said, “Am considering taking Tesla private at $420. Funding secured.”
☆ Elon Musk, Tesla Poised for Trial Over 2018 Tweets Proposing to Take Car Maker Private
  + stars: | 2018-08-07 | by ( Rebecca Elliott | Meghan Bobrowsky | ) www.wsj.com   time to read: 1 min
Elon Musk is headed to court in a securities-fraud trial over tweets from 2018 in which he floated the possibility of taking Tesla Inc. private, with in-person jury selection poised to begin Tuesday. The class-action case originates with an Aug. 7, 2018 tweet in which the Tesla chief executive said, “Am considering taking Tesla private at $420. Funding secured.”
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