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Elon Musk testifies he’s financially illiquid, court filing says
- deleted 7y ago[deleted]
- favorited 7y ago> he has said he has no plans to sell any shares That's nice. Plans change if you end up owing legal damages.
- ars 7y agoIt's not quite that simple he has to file in advance in order to sell. Saying no plans to sell means he has not filed with the SEC saying he will sell.
- favorited 7y agoHe doesn't have legal damages yet, so of course he hasn't filed to sell his shares at this point.
- HNLurker2 7y agoIf you don't have more than 51% percent or major equity then you're pretty powerless in the company. Also selling equity is like showing doubt about the mission of the company which will also kill the company
- ohiovr 7y agoI did not know tesla stock is illiquid.
- ryanlol 7y agoTesla stock held by Elon Musk is most definitely illiquid for some rather reasonable interpretations of that word. As the CEO he can't just sell whenever he wants.
- bgirard 7y agoI don't understand why any of this is an issue. He can get a loan to pay now, file a 10b5-1 to sell stock in the future and repay the load then.
- ryanlol 7y agoIt's not an issue, this is a non-story.
- paulddraper 7y agoWhat about when given legal fees?
- i_call_solo 7y agoHe's allowed to sell, he just has to jump through some hoops. He just can't log into Robinhood and make some trades.
- bdcravens 7y agoPretty much non-news. If he is ruled against in the defamation lawsuit, he doesn't weasel out of paying via the "illiquid" argument. Liens can be placed against stock.
- aiyodev 7y agoMusk’s attorney had the same opinion and expressed it with the exact same words. What a coincidence!
- stevespang 7y agoAgreed. Judge will not accept his weak argument.
- teslaberry 7y agoBig fanboy of musk here. His tesla Stock is highly overvalued now....probably a great time to sell but he cannot so easily sell it without company permission.
- masonic 7y agoIs there a GoFundMe for him?
- meitham 7y agoYour money can serve better causes elsewhere.