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> Yet he has to borrow, sometimes a lot, to pay for his lifestyle and business investments without liquidating shares that help him maintain control of the comp
by mandeepj 6y ago
> Yet he has to borrow, sometimes a lot, to pay for his lifestyle and business investments without liquidating shares that help him maintain control of the companies he runs.
Not sure. He could sell secondary shares without losing control, just like zuck
- colinmhayes 6y agoAs the article points out, Tesla went public before the "founder gets preferred shares that have all the voting power" thing became popular. Zuckerberg sells the non-voting shares, but Musk doesn't have any.
- mandeepj 6y agoYeah, I also read that in the article. It's incorrect. Google went public in 2004, and they have that voting structure. It's mentioned correctly in the article.
- dntbnmpls 6y ago> As the article points out, Tesla went public before the "founder gets preferred shares that have all the voting power" thing became popular. This is simply not true. Google popularized it in 2004 with their IPO. It's how page/brin today control over 50% of the alphabet votes. Zuckerburg copied page/brin. The reason why musk couldn't get the same privileges is because tesla wasn't a growth powerhouse that google/facebook/etc were. He wasn't in position to make such demands from investors.