Tesla Limits Elon Musk, Directors & Executive Officers Share Pledges at Lower of $3.5 Billion or 25% of Tesla Market Value, Elon Musk Holds 411 Million Shares at $76 Billion Value with 238.4 Million at $44.1 Billion Pledged as Loans
8th April 2023 | Hong Kong
Tesla has set a new share pledge borrowing policy, limiting Elon Musk, Directors & Executive Officers to Tesla share pledge borrowing at the lower of $3.5 billion or 25% of Tesla market value (6/4/23: $579 billion, $185.06). The new proxy filing was submitted on 5th April 2023 (Thursday), and with Elon Musk holding 411 million Tesla shares with 238.4 million pledged as personal loans (58% of 411 million shares). At $185.06 Tesla share price, Elon Musk 411 million Tesla shares is valued at $76 billion with $44.1 billion (238.4 million shares) pledged as personal loan. In 2023 February, the 5-day United States court trial has ended (21/2/23) for the shareholders lawsuit to void Elon Musk $55 billion pay packages tied to Tesla share price, citing material misleading disclosure in 2018 on Elon Musk involvement in the compensation discussion & unjustly enriched himself. More info below.
“ Tesla Limits Elon Musk, Directors & Executive Officers Share Pledges at Lower of $3.5 Billion or 25% of Tesla Market Value, Elon Musk Holds 411 Million Shares at $76 Billion Value with 238.4 Million at $44.1 Billion Pledged as Loans “
5-Day United States Court Trial Ends for Shareholders Lawsuit to Void Elon Musk $55 Billion Pay Packages Tied to Tesla Share Price, Cited Material Misleading Disclosure in 2018 on Elon Musk Involvement in the Compensation Discussion & Unjustly Enriched Himself
25th February 2023 – The 5-day United States court trial has ended (21/2/23) for the shareholders lawsuit to void Elon Musk $55 billion pay packages tied to Tesla share price, citing material misleading disclosure in 2018 on Elon Musk involvement in the compensation discussion & unjustly enriched himself. The ruling by United States Delaware court Chancellor Kathaleen McCormick will be announced at least a few months later. Tesla share price is trading around $196 (24/2/23) and traded around $22 5 years ago (2018), representing 890% increase in share performance. In 2022 June, Elon Musk, Tesla & SpaceX have received a $258 billion class action lawsuit for defrauding & promoting Dogecoin pyramid scheme. In the filing by American citizen Keith Johnson in a federal Manhattan court (New York, United States), the class action lawsuit seeks $258 billion in total damages, an order blocking Elon Musk & companies from promoting Dogecoin, and declaring Dogecoin trading as gambling under United States & New York law.
Elon Musk, Tesla & SpaceX Receive $258 Billion Class Action Lawsuit for Defrauding & Promoting Dogecoin Pyramid Scheme
17th June 2022 – Elon Musk, Tesla & SpaceX have received a $258 billion class action lawsuit for defrauding & promoting Dogecoin pyramid scheme. In the filing by American citizen Keith Johnson in a federal Manhattan court (New York, United States), the class action lawsuit seeks $258 billion in total damages, an order blocking Elon Musk & companies from promoting Dogecoin, and declaring Dogecoin trading as gambling under United States & New York law. In the filing: “Dogecoin is not a currency, stock, or security. It’s not backed by gold, other precious metal, or anything at all. You can’t eat it, grow it, or wear it … … It doesn’t pay interest or dividend. It has no unique utility compared to other cryptocurrencies … … It’s not secured by a government or private entity. It’s simply a fraud whereby ‘greater fools’ are deceived into buying the coin at a higher price.”
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