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.
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
When the CEOs of the three Detroit based automakers used corporate jets to fly to Washington in late 2008, they were eviscerated by the national media and grandstanding politicians. Within weeks, all three companies had canceled the leases on those aircraft and all future travel by Detroit executives would be happening on commercial aircraft.
With the news that Tesla Motors will soon go public, there's been a lot of scrutiny of and discussion about the company's future plans. On the corporate side, that involves things like former Toyota production engineering general manager Gilbert Passin joining the company as leader of Tesla's vehicle manufacturing operations. On the media side, that means digging into the SEC filing and reporting that the current-gen Roadster is not long for this world and that:
There aren't yet any news reports posted about the events in court today surrounding the Tesla Motors lawsuit filed by ex-CEO Martin Eberhard, but we know from a new statement put out by Tesla that the judge struck down Eberhard's request to be declared one of just two founders of the company. Tesla said it was pleased by this decision, and "definitely agree[s] that Eberhard's claims on the founder issue have no legal relevance." The judge did not throw out the case, however, as Musk and the Tes
The legal battle between Tesla Motors CEO Elon Musk and ex-CEO Martin Eberhard continues tomorrow in San Mateo County Superior Court when Musk and Tesla's lawyers will ask a judge to toss out Eberhard's original lawsuit. Earlier this year, Eberhard filed a lawsuit that alleges that Musk, among other things, "committed a series of actions that not only resulted in the delay of the release of the Roadster to the consumer market, but also compromised Tesla Motors' financial health." Eberhard is als
For a guy who allegedly wants a lot of the credit for creating Tesla Motors, Elon Musk certainly doesn't seem to like the job of being its CEO. As part of Daimler's investment deal with Tesla, Musk needed to commit to staying on as Tesla's CEO at least until the Model S launches in 2011. Musk told Reuters: