Musk
Washington (AFP) - The US Supreme Court on Monday declined to hear an appeal by Elon Musk of a settlement that requires the billionaire to have some of his social media posts about Tesla pre-approved by a company lawyer. The nation's highest court rejected the Tesla and X owner's appeal without comment. Musk was seeking to overturn restrictions imposed on him by the Securities and Exchange Commission (SEC) following a 2018 post on Twitter, now X. In the tweet, Musk said he had acquired funding to take Tesla private, which caused a spike in the company's stock price, but he did not provide any ...
AFP
New York (AFP) - Electric vehicle maker Tesla will ask its shareholders to vote again on a $56 billion compensation package they had approved in 2018 for CEO Elon Musk before it was squashed by a US court earlier this year. In a filing with federal regulators on Wednesday, Tesla Chair Robyn Denholm said the board of directors stood by the original package and argued that the company's "entrepreneurial spirit" had always been one of "big risks for the chance of big rewards." Musk's payout -- worth as much as $55.8 billion in 2018 -- was voided in January by a Delaware court, ruling on a compla...
AFP
Washington (AFP) - Elon Musk, one of the world's richest people, says he won't directly back Joe Biden or Donald Trump in the US election -- but one look at his X feed makes clear his heart is with the Republican. Trump, meanwhile, needs cash -- burdened with millions of dollars in legal troubles, he is also gearing up to fight what will be the most expensive election in US history. So could Musk ride to Trump's rescue? In a recent interview with former CNN anchor Don Lemon, the owner of X, formerly Twitter, said he was "leaning away" from Biden, but maintained that it was "unlikely" he woul...
AFP
Washington (AFP) - Elon Musk suggested his use of drugs benefits Tesla investors in an interview released Monday, saying he takes prescribed ketamine to treat his "negative frame of mind." The 52-year-old tycoon confirmed he takes the anesthetic -- typically used for pain management and to treat depression -- following reports in the US media that his drug use was spooking investors. “Ketamine is helpful for getting one outside out of a negative frame of mind," Musk told former CNN host Don Lemon in an interview published on social media on Monday. Asked if his ketamine use could impact inves...
AFP
San Francisco (AFP) - Elon Musk on Monday said he would make his Grok chatbot, a rival to ChatGPT, open source as his feud with OpenAI deepens. The multi-billionaire unveiled Grok late last year as he attempts to catch up with OpenAI which he helped create in 2015 along with its CEO Sam Altman, providing key financing in its early days. He left OpenAI a few years later and last week filed a shock lawsuit against the company for breaking its original non-profit mission to make AI research available to all. "This week, @xAI will open source Grok," Musk said in a post on X, entering one of Silico...
AFP
San Francisco (AFP) - Former top executives of Twitter sued Elon Musk on Monday saying he has failed to pay them nearly $130 million after the billionaire took over the social media company and dismissed them. "Musk doesn't pay his bills, believes the rules don't apply to him, and uses his wealth and power to run roughshod over anyone who disagrees with him," they said in the lawsuit filed in a California federal court. The plaintiffs include former CEO Parag Agrawal, who according to the lawsuit is claiming $57.4 million in benefits, as well as fired CFO Ned Segal who is asking for $44.5 mill...
AFP
San Francisco (AFP) - Elon Musk has launched a legal case against OpenAI, the AI firm he helped to set up in 2015, accusing its leaders of a "betrayal" of its founding mission. The tycoon, who left OpenAI in 2018, argued in documents filed in a San Francisco court late Thursday that the firm was always intended as a nonprofit entity. But he said recent boardroom changes meant OpenAI was now effectively a subsidiary of software giant Microsoft, arguing that this was breach of contract. Musk has accused Microsoft of controlling OpenAI several times, with both firms denying the claims. Antitrust ...
AFP
Washington (AFP) - Elon Musk is on the warpath against Delaware and its powerful business court, moving his SpaceX company out of the eastern US state after a judge struck down his $56 billion compensation package at Tesla. For more than a century, the Delaware Chancery Court has been a pillar of US capitalism, the jurisdiction where roughly two thirds of American Fortune 500 companies register their company. And according to state data, nearly 80 percent of initial public offerings in 2022 were registered in Delaware, seeking the reliability and stability of its court and the expertise of its...
AFP
Los Angeles (AFP) - A "Star Wars" actor backed by Elon Musk's X is suing Disney for firing her over inflammatory social media posts about the Holocaust, the pandemic and trans rights. Gina Carano, who had a major role in the wildly popular Disney+ series "The Mandalorian" until 2021, filed a lawsuit in California on Tuesday claiming wrongful termination. The suit says Carano was expressing personal political views but was hounded by an "extreme progressive" online mob, and alleges that Disney's actions and comments had damaged her reputation and ability to find work in the future. "Today is a...
AFP
New York (AFP) - A judge in the US state of Delaware voided the $56 billion compensation package of Tesla chief executive Elon Musk on Tuesday, siding with a shareholder who claimed the entrepreneur was overpaid. The judge in Delaware Chancery Court ruled that the plaintiff, a Tesla shareholder named Richard Tornetta, was "entitled to rescission," approving the annulment of Musk's 2018 humongous compensation agreement worth as much as $55.8 billion. Judge Kathaleen McCormick added that the parties must now "confer" and then submit a joint letter "identifying all issues, including fees, that n...
AFP
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