Elon Musk’s Battle Over $9 Billion in Tesla Shares: Shockwaves and Legal Drama

Introduction: Shockwaves and a Staggering Demand

In a legal saga that’s practically a Hollywood blockbuster, Elon Musk found himself stripped of his mind-boggling $AU85 billion Tesla compensation package. But that’s not the jaw-dropping part – it’s the lawyers behind the curtain now demanding an astronomical fee of $AU9 billion ($US6 billion) in the form of 29 million Tesla shares. Hold onto your hats; this rollercoaster is just getting started.

The Fallout and Musk’s Social Media Fury

Elon Musk, the man who’s practically synonymous with Tesla and SpaceX, didn’t take this legal gut punch lying down. With a net worth that can make Scrooge McDuck look frugal, Musk erupted on social media. He didn’t mince words, calling out the lawyers who, in his eyes, did nothing but throw a wrench into Tesla’s gears. “Those lawyers want $US6 billion? Criminal!” he declared. Irony meets Musk’s outrage.

Meet the brains behind this legal storm – Bernstein Litowitz Berger & Grossmann, Friedman Oster & Tejtel, and Andrews & Springer. They played the long game, operating on a “no win, no pay” basis for five long years before pulling off the legal heist of the century. Now, they’re boldly asking for 29 million Tesla shares as payment, equivalent to an eye-watering $442,353 per hour, as The Guardian reports.

If Judge McCormick gives the green light to this record-breaking fee demand, it’ll be etched in the annals of legal history. To put it in perspective, the legal sharks in the Enron case got about 9.5% of the $11 billion ($US7.2 billion) pie for defrauded shareholders. But these Tesla legal minds are playing 4D chess, choosing stock over cash, claiming it won’t dent Tesla’s books and can be a sweet tax write-off.

Musk’s Counterattack: OpenAI in the Crosshairs

While the legal dust was settling on the Tesla battlefield, Musk fired a missile at OpenAI. Filing a breach of contract lawsuit against the organization and its founder, Sam Altman, Musk claims that OpenAI’s pivot from open-source to closed-source was all about fattening Microsoft’s wallet. According to Musk, Altman veered OpenAI away from its noble mission of freely sharing tech and knowledge.

Altman’s Sassy Response and the Long Countdown

Sam Altman, the man facing the thunder of Musk’s legal storm, didn’t rush to the battlefront. Instead, he served up a sassy response with a side of sarcasm – a “anytime” after five years of radio silence. Altman, who once sang praises for Tesla in 2019, stressing the importance of backing innovation for the climate, now finds himself caught in the crossfire of legal theatrics.

Conclusion: Corporate Drama Unfolding

As we sit on the edge of our ergonomic office chairs, the corporate world watches this legal soap opera unfold. A demand for $9 billion in Tesla shares as legal fees, coupled with Musk’s counterattack on OpenAI, adds a level of complexity that would make Shakespeare proud. Only time, the ultimate storyteller will unveil the resolution of these legal duels and their impact on Tesla, Elon Musk, and the wild west of corporate governance.


FAQs

Q1: Is this legal saga affecting Tesla’s stock prices? A1: The legal drama has undeniably caused ripples, but as for the direct impact on stock prices, only time will tell.

Q2: Why did Musk choose stock over cash for the legal fees? A2: According to legal minds in the Tesla case, opting for stock won’t dent Tesla’s financial health and comes with the added perk of being tax-deductible.

Q3: What’s the timeline of Altman’s support for Tesla and Musk’s legal action against OpenAI? A3: Altman supported Tesla in 2019, but it’s the five-year countdown that led to Musk’s legal strike against OpenAI.

Q4: How is the corporate world reacting to these legal battles? A4: With bated breath, my friend. The unprecedented demands and retaliatory strikes are making boardrooms buzz.


In the swirling whirlpool of legal complexities, one thing’s for sure – the Elon Musk drama isn’t a short story; it’s an epic saga still unfolding in the courts and headlines.

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