Elon Musk cried in the court itself..!?
Elon Musk admitted in court on wednesday that he made some decisions at tesla without the approval of the company's directors. He is facing a lawsuit alleging that he created his own $56 billion pay plan and gave it to the management team. richard Tornetta, a major tesla shareholder, filed a lawsuit against Elon Musk and the tesla board in 2018. The case has been a major problem since 2018, even though Tesla's growth has been astounding.
And Elon Musk has been accused of using his influence over Tesla's board to get the electric car maker to agree to pay him a huge salary that doesn't require full-time work, hoping to prove he's getting a package. richard Tornetta's lawyer, Greg Varallo, questioned whether Tesla's board of directors so easily approved the $56 billion pay plan, which Elon Musk flatly denied.
The amount of pain, words can't express, said Elon Musk tearfully, describing the effort needed to save the company from bankruptcy in 2017 and bring about astonishing growth. He added saying that it is a pain that he doesn't want to impose on anyone. And richard Tornetta's lawyer Greg Varallo, Elon Musk showed the world, investors, and the board that tesla was in full control by doing many things without the board's approval.
Richard Tornetta's lawyer said in court that Elon Musk voluntarily announced that tesla would accept bitcoin as payment and that Tesla's board of directors announced in october that it would buy back $10 billion worth of tesla stock without approval from Tesla's board.
While Elon Musk, who has taken over the twitter company, is struggling in many ways, this 5-day trial has become a heavy burden and impact. Even so, Elon Musk's email to twitter employees has come as a shock. To the impatient Elon Musk twitter staff on november 16th, decide for yourself by 5 pm on thursday if you want to be Twitter's new hardcore. Otherwise, he has sent an email saying that he can leave freely with 3 months of severance pay.