Elon Musk News

Tesla Pays CEO Musk Nearly $1M for Controversial D&O Insurance Arrangement

Tesla Inc. is making a one-time payment of almost $1 million to Chief Executive Officer Elon Musk related to a controversial insurance arrangement he agreed to with the carmaker’s board earlier this year. The company is backtracking from plans to …

Companies Press Insurance Brokers for Workarounds to Rising D&O Costs

When Elon Musk said in April he was dropping the insurance policy that protects Tesla Inc.’s board from shareholder lawsuits, it got Skip McBride’s attention. To McBride, who used to manage law firm Bracewell LLP’s malpractice exposure, Musk’s decision to …

CEO Musk Replaces Tesla’s D&O Policy with ‘Personal Coverage’

Tesla founder and CEO Elon Musk is getting into the insurance business again, sort of. Musk has cancelled his company’s directors and officers insurance (D&O), replacing it with a promise to personally provide his board members with “equivalent” coverage to …

Judge Clears Way for Shareholder Suit Against Tesla, Musk Over Going-Private Tweet

A federal judge said Tesla Inc. and Chief Executive Elon Musk must face a lawsuit claiming they misled shareholders when Musk tweeted that he had secured funding to take his electric car company private in a $72 billion transaction. U.S. …

Musk Holds Out As Other Tesla Directors Settle Investors’ SolarCity Claims for $60M

All Tesla Inc. directors except Chief Executive Officer Elon Musk agreed to a $60 million settlement to resolve shareholder lawsuits over the company’s purchase of SolarCity, according to people familiar with the deal. Insurers covering Tesla’s directors and executives will …

Jury Clears Tesla CEO Musk of Defamation Claim for ‘Pedo’ Tweet

Elon Musk defeated defamation allegations Friday from a British cave explorer who claimed he was branded a pedophile when the Tesla CEO called him “pedo guy” in an angry tweet. Vernon Unsworth, who participated in the rescue of 12 boys …

Musk Defamation Trial Over ‘Pedo Guy’ Tweet Set to Begin

Tesla boss Elon Musk is set to go on trial on Tuesday after he described a British cave explorer who helped rescue a group of boys from a cave complex in Thailand as a pedophile on Twitter. Vernon Unsworth, who …

AIG Could Become Involved in Defamation Claim Against ‘Illiquid’ Elon Musk

Insurance giant American International Group Inc. may get wrapped up in a defamation case involving billionaire Elon Musk, who has told lawyers representing the British cave diver suing him that he’s financially illiquid, according to a legal filing. An attorney …

Judge Allows Tesla Investor’s Claim Over Musk’s ‘Extraordinary’ $56B Performance Pact

A Delaware state judge has rejected a request by the board of Tesla Inc. to dismiss a stockholder complaint over an “excessive” 2018 performance award to CEO Elon Musk. In the spring of 2018, shareholders of the electric car-maker approved …

Buffett Has Eyes on Competitor Progressive, Not Car Makers Entering Insurance

Berkshire Hathaway Chair Warren Buffett said he isn’t worried about recent assertions by Tesla Chief Executive Elon Musk that the electric car maker could offer a more compelling insurance product than traditional auto insurers. “The success of the auto companies …