Tesla stake on the table in CEO’s divorce dispute

By Poornima Gupta

SAN FRANCISCO, May 14 (BestGrowthStock) – Justine Musk says she
wants a pricey Tesla Roadster, 10 percent of her husband’s
stake in the carmaker and the odd $6 million.

“I really, really want one,” she said on a blog she posted
on May 8 about the $109,000 Roadster, which is capable of
accelerating faster than a Ferrari.

She is making the demands in a contentious divorce case
that could complicate plans by Tesla Motors’ Chief Executive
Elon Musk to take the company public and retain $465 million in
U.S. government funding to launch a mass-market electric car
named Model S.

Welcome to divorce in the revolutionary world of electric
vehicles.

Musk is the co-founder and largest shareholder in the
electric car start-up with over 81 million shares, but it is
unclear how much of the company he owns because Tesla does not
disclose current shares on issue.

According to Tesla’s regulatory filing, the government loan
could be in default if Elon Musk does not hold enough of the
stock.

Tesla spokesman Ricardo Reyes said the company has no plans
to alter its initial public offering registration statement
with the U.S. Securities and Exchange Commission.

Lawyers for Elon Musk and Justine Musk did not return calls
for comment.

In a blog post jokingly titled “Golddigger,” Musk’s
estranged wife and author of supernatural thrillers, Justine
Musk, laid out what she called “the extent of my golddigging.”
Apart from the Tesla stock, she wants 5 percent of his stake in
space exploration company, SpaceX, alimony and support for
their five children.

“Is that what I deserve? I don’t know. Who exactly deserves
that kind of wealth?” she wrote on May 8. “But based on our
life and history together, is that reasonable? I think so.”

Justine Musk, whose lives in the ritzy Bel Air enclave of
Los Angeles, said in a May 4 blog post that she is willing to
talk about a settlement with Elon Musk if the billionaire is
willing.

Justine Musk’s books includes titles such as “Blood Angel”
and “Uninvited.”

Musk has won an initial ruling in the divorce dispute, but
the judge certified the ruling for immediate appeal.

The dispute is over a post-marital agreement that Justine
Musk signed shortly after her marriage.

She characterized the agreement as “extremely harsh” in a
blog post on May 6.

“The lawsuit itself is about whether a postnup is invalid
due to fraud (and if it’s invalid, I do get half),” she wrote
in the blog post. “By allowing this situation to turn into a
lawsuit that’s gone up to the appellate court, Elon is taking a
risk which, to be utterly frank, no one seems to understand.”

Under California law, if the post-maritial agreement is
thrown out, she could be eligible for half of the share of the
communal property.

Despite the apparent rancor between the two, Justine Musk
also said she admires Elon, and the electric roadster he pushed
Tesla to develop.

“I think my ex-husband is brilliant and works like a demon
and deserves his success and wealth,” she wrote.

Stock Basics
(Reporting by Poornima Gupta; editing by Andre Grenon)

Tesla stake on the table in CEO’s divorce dispute