By The Associated Press | PUBLISHED: September 29, 2018 at 2:40 pm | UPDATED: September 29, 2018 at 3:33 pm Tesla and its CEO Elon Musk have agreed to pay a total of $40 million and make a series of concessions to settle a government lawsuit alleging Musk duped investors with misleading statements about a proposed buyout of the company. The settlement allows Musk to remain CEO of the electric car company but requires him to relinquish his role as chairman for at least three years. Tesla must hire an independent chairman to oversee the company. The Securities and Exchange Commission announced the settlement Saturday, just two days after filing a case seeking to oust Musk as CEO. Musk, a billionaire, and Tesla, a company that ended June with $2.2 billion in cash, each are paying $20 million to resolve the case. The deal could remove one cloud that hangs over Tesla. Investors fretted about the company’s ability to cope without Musk, a charismatic entrepreneur whose penchant for … [Read more...] about Tesla and Elon Musk settle with SEC for $40 million; Musk to stay CEO
Tesla and elon musk
Published July 24, 2018 Markets ETF Trends Facebook Twitter Comments Print This article was originally published on ETFTrends.com. Tesla has had a shaky year. With issues ranging from missed production targets to alleged requests for cash rebates from suppliers to Elon Musk’s brash public responses to naysayers, the future of Tesla (TSLA) and Musk, co-founder and CEO, remains a contentious matter on Wall Street. Tesla stock has dropped over 7% YTD and has [...] Continue Reading Below Read more at ETFTrends.com > … [Read more...] about What Lies Ahead for Tesla and Elon Musk?
By Matthew Rocco Published April 11, 2018 Business Leaders FOXBusiness Facebook Twitter Comments Print video Elon Musk’s many business ventures: SpaceX, Tesla and flamethrowers Elon Musk reportedly has a net worth over $20 billion. The serial business entrepreneur is behind SpaceX, Tesla, PayPal. Here’s a closer look at Musk’s many ventures and projects. Elon Musk, the founder and CEO of Tesla, said he has spent nights sleeping on the factory floor during a “painful” period for the electric car maker. Continue Reading Below Tesla has struggled with what Musk has called “production hell” since the launch of the Model 3, a sedan designed to attract mainstream car buyers. The company has aspirations to significantly increase the number of vehicles it builds, but delays have prevented Tesla from reaching its production goals. Tesla recently said Musk would focus his time on resolving the Model 3 … [Read more...] about Tesla CEO Elon Musk sleeping on factory floor during Model 3 rollout
By Matthew Rocco Published April 10, 2018 Auto FOXBusiness Facebook Twitter Comments Print video Tesla back on the road to recovery? Loup Ventures Managing Partner Gene Munster on the outlook for Tesla. Tesla CEO Elon Musk had a terse response to a report from Goldman Sachs in which the investment bank cut its price target for the electric car maker and questioned whether it can meet its Model 3 production goals. Continue Reading Below “Place your bets,” Musk wrote on Twitter. In a report published Tuesday, analysts at Goldman Sachs reiterated their “sell” rating and cut their price target to $195 from $205. The investment bank’s 12-month forecast suggests that Tesla’s shares could fall 36% from its current level of $304.70 a share, as of Tuesday’s close. Goldman Sachs cited slow production of the Model 3, saying Tesla will likely build about 1,400 units per week during the second quarter. The … [Read more...] about Tesla CEO Elon Musk on Goldman ‘sell’: ‘Place your bets’
A headlight on the Tesla Model 3 on display at the Tesla store in the Stanford Shopping Center in Palo Alto, Calif., on Thursday, January 11, 2018. (Nhat V. Meyer/Bay Area News Group) John Raoux/Associated Press FILE- In this Feb. 6, 2018, file photo, Elon Musk, founder, CEO of SpaceX and CEO of Tesla Inc., speaks at a news conference after the Falcon 9 SpaceX heavy rocket launched successfully from the Kennedy Space Center in Cape Canaveral, Fla. Shareholders of electric car and solar panel maker Tesla Inc. are voting on a pay package for Musk that could net him more than $50 billion if he meets lofty milestones over the next decade that include raising the company's market value tenfold. (AP Photo/John Raoux, File) Sound The gallery will resume inseconds People check out the Tesla Model 3, at the entry-level electric sedan’s first appearance in a Tesla showroom, on Friday, Jan. 12 at Stanford Shopping Center in Palo Alto, Calif. (Ethan Baron/Bay Area News Group) … [Read more...] about Tesla CEO Elon Musk takes direct control of troubled Model 3 production: report