Part 4/11:
Leo highlighted that Musk's management of Tesla, including secretly managing Twitter and potentially diverting company resources, raises questions about his fiduciary responsibilities. His tweets imply that Musk's actions—like selling Tesla stock in the wake of Twitter acquisition turmoil—might be detrimental to shareholders.
The 2018 Privatization Attempt Revisited
Looking back at Musk’s 2018 privatization plan, it was pegged at $420 per share, a significant premium over Tesla’s then-market price. Musk claimed he had secured funding, and that privatising Tesla would help stabilize its operations and stock price by eliminating short-sellers and reducing volatility. This plan involved enabling shareholders to stay invested via special purpose funds.