Elon Musk, who has almost never been on the agenda and has been talked about with his recent Twitter moves, is in trouble. The famous billionaire was sued in 2018 for the income he received from the electric car company Tesla, which he owned. Lawyers think the case will be tough for Musk and a large part of his wealth is at risk.
Elon Musk could lose $56 billion due to the lawsuit.
Tesla founder and CEO Elon Musk has made some commitments as a 2018 executive. According to the agreement, Tesla would give stock to the famous billionaire in return for keeping all twelve promises made. According to the calculation made at that time, it was at the level of 56 billion dollars.
With the production of Model 3, Elon Musk increased Tesla’s value from $ 50 billion to $ 650 billion and met 11 of 12 targets. On top of that, the company kept its promise and gave Musk $56 billion worth of stock in exchange for his success. However, it was claimed that Musk was not a very honest person and deceived his own company.
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According to the allegations that caused the court, Elon Musk acted by calculating the 12 targets in question beforehand. The famous billionaire, who got his planning right, already made promises he knew he would keep. Tesla Board of Directors, on the other hand, agreed to make the payment despite being aware of this situation.
Richard Tornetta, who filed the lawsuit, argues that Elon Musk is a part-time CEO and does not focus enough on Tesla according to the agreement. Lawyers identified Musk as a part-time CEO, stating that he worked at Tesla on Wednesdays and Fridays on Wednesdays and Fridays, and at the rocket company SpaceX on Mondays and Thursdays in 2018.
While Tornetta does not want any payment for herself as a result of the lawsuit, she argues that the $ 56 billion Tesla paid to Elon Musk should be canceled and repaid to the company.
Elon Musk may lose the title of world’s richest
Elon Musk, the richest person in the world with a fortune of 199 billion dollars, can lose his title if he pays back if he loses the case. Just behind Musk is Bernard Arnault with a fortune of 175 billion dollars. If the $56 billion paid out is cancelled, Bernard Arnault will become the richest person in the world.
It is estimated that the case will take approximately 1 week. So what do you think about this lawsuit filed against Elon Musk? Don’t forget to share your thoughts with us in the comments section!