• 4 minutes Permian in for Prosperous and Bright Future
  • 7 minutes Amount of Oil Usage in the United States
  • 10 minutes America Could Go Fully Electric Right Now
  • 6 hours Something wicked this way comes
  • 10 hours Kalifornistan, CO2, clueless politicians, climate hustle
  • 59 mins JP Morgan Christyan Malek, report this Summer .. . We are at beginning of oil Super Cycle and will see $190 bbl Brent by 2025. LOL
  • 9 hours Tesla Battery Day (announcements on technology)
  • 1 day US after 4 more years of Trump?
  • 1 hour Why NG falling n crude up?
  • 2 days .
  • 1 day Ten Years of Plunging Solar Prices
  • 2 days Famine, Economic Collapse of China on the Horizon?
  • 2 days Natural Gas Saves Southern California From Blackouts
Are Small Scale Plants The Future For LNG?

Are Small Scale Plants The Future For LNG?

Small-scale liquefied natural gas projects…

Large Shareholder Ready Invest More Money Into Tesla

Scottish fund manager Baillie Gifford—one of Tesla’s largest shareholders with a 7.72-percent stake—is willing to back Elon Musk should he need additional capital, despite the many controversies surrounding the EV maker’s mercurial founder, Baillie Gifford partner Nick Thomas told The Times on Monday.

“If he needs more capital we would be willing to back him,” Thomas told The Times, describing Musk as an entrepreneur of “vision and ambition, who’s working towards a social good.”

Musk is Tesla’s biggest single shareholder with stake of around 20 percent, while Baillie Gifford is one of the top external shareholders—according to Reuters data, Baillie Gifford is the third-largest shareholder after Musk and after T. Rowe Price Associates.

If Musk manages to upend the global automotive industry with his vision, Tesla would be worth much more than its current market value of around US$57 billion, Thomas told The Times.

The comments of one of the largest shareholders come days after Tesla surprised Wall Street and analysts last week with a rare quarterly profit in the third quarter, which the company described as “a truly historic quarter for Tesla,” but which also brought a lot of controversy surrounding its founder and CEO Musk, who tweeted in early August that he was taking Tesla private with “funding secured”.  

The tweet secured Musk an investigation from the SEC, which later charged Tesla’s CEO with securities fraud. Musk and the SEC quickly settled the charge days after the commission charged him, with Musk and Tesla each agreeing to pay a penalty of US$20 million, Musk stepping down as Tesla chairman to make room for an independent director, and Tesla’s board agreeing to adopt “important reforms —including an obligation to oversee Musk’s communications with investors.”

Worth it,” Musk said on Friday, replying to a Twitter follower asking about the tweet that cost Tesla’s CEO a US$20 million penalty.

By Tsvetana Paraskova for Oilprice.com

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage



Leave a comment

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News