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Elon Musk Had a Frenzied Plan to Merge Tesla, SolarCity, New Filings Show | Business Insider

Elon Musk Had a Frenzied Plan to Merge Tesla, SolarCity, New Filings Show | Business Insider

In a lawsuit filed against Tesla filed by shareholders, documents revealed Elon Musk’s illegal plan to burden Tesla with billions of dollars of debt. The debate came when Tesla wanted to merge with SolarCity, with many claiming this was only done to save SolarCity and enrich Musk and members of the board. Documents were released showing Musk calling the merge a ‘no-brainer’ despite the company’s poor financial state. The lawsuit also claims that the merge was necessary to keep Musk afloat because despite being a shareholder and board member of SolarCity, another one of his companies, SpaceX, would down along with SolarCity.

Source: https://www.businessinsider.com/elon-musk-tesla-solarcity-merger-frenzied-plan-new-filings-show-2019-10

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