Elon Musk (right) and Jim Lentz with the Toyota RAV4 EV – Click above for high-res image gallery
Elon Musk Tesla
If there's ever going to be a green car cage match, we can guarantee that one of the fighters will be Tesla Motors CEO Elon Musk, who apparently can't pass up the chance to take on any competitor. His latest target? The lithium-ion battery pack in the Nissan Leaf, about which Musk had some critical things to say in a conference call with investors this week.
Tesla's chief executive officer, Elon Musk, is well-known for his occasionally outlandish remarks, boastful company claims, over-the-top comments and much more. To put it nicely, Musk is an outspoken individual, which just means that when he sat down with TIME magazine for a recent interview, there wasn't a moment of restraint.
We find it hard to believe that Tesla's chief executive officer Elon Musk could possibly be running low on cash, but that's the story we've heard. If true and Musk actually is almost broke, he's a lot less so now with the addition of some $24 million in pocket change courtesy of Tesla's recent IPO. In the first day of trading, Tesla's stock shot up 40 percent, bringing in a significant amount of coin for the company, and Musk benefited, too.
It's no secret that Tesla's chief executive officer Elon Musk is experiencing some difficulties right now. From the messy divorce to reports that he's broke, Musk has recently made headlines for all the wrong reasons. That's precisely why Tesla Motors hope to distance itself from the CEO as it moves ever closer to its IPO.
Diving into an extremely competitive and capital-intensive business in which customers generally don't appreciate having access to beta products is not a good way to enhance your personal fortune. In fact, if Elon Musk is being honest in the latest court filings related to his divorce proceedings, it looks like a great way to vaporize a fortune.
Can a broke man buy a $125,000 Tesla Roadster Sport? He probably can if he's Elon Musk, the CEO of Tesla Motors who recently wrote in legal documents that, "I ran out of cash." What running out of cash means for a person like Musk (who it looks like still spends around $200,000 a month) and the rest of us is a matter for another day, but it is apparent that Musk, who is going through divorce proceedings, doesn't have as much money as he used to.
Darryl Siry, who used to be CMO at Tesla Motors and is now CEO of NewsBasis, and so has a better-than-most insight into the situation, hears word that Tesla's upcoming IPO will go out for somewhere between $1 and $1.5 billion. This will mean that the opening price could be around $10-$12 a share, which is typical, he says, and follows a 1-for-3 reverse stock split that the board recently approved. After the split, there will be 100 million shares outstanding. While we can't know the future &ndas