We remembered the loudest scandals associated with Ilona Mask
In 1999, Ilon Mask became one of the founders of X.com, which was a competitor to the Confinity payment system, which includes PayPal. The companies merged and Mask suggested developing the X.com brand, but the board of directors did not approve of this idea and dismissed it from work. In 2002, PayPal was bought by eBay. Money invested from the sale of shares of PayPal, Mask invested in a new project – SpaceX.
In 2017, a former employee of the company SpaceX sued the leadership. Jason Blasdell believed that he was illegally fired because of frequent complaints for non-compliance with special protocols in the design and testing of missiles. According to him, the test results were often forged. According to SpaceX attorney Lynn Hermle, Blasdell never reported violations. The trial continues.
In March 2017, after the conflict with Ilon Mask, Tesla left the executive director Klaus Grohmann. He was the founder of Grohmann Engineering, which in 2016 was swallowed up by Tesla. Mask believed that the company Grozmann should concentrate on the only customer – Tesla. However, to the general opinion, they did not come, after which the latter left the post of top manager.
In March 2018, the founder of the company Tesla sued its shareholders. In their view, the purchase of solar cells SolarCity for $ 2.6 billion in 2016 was unprofitable, although the proposal was supported by 85% of shareholders. It is noted that the company SolarCity belonged to the relatives of Mask and was experiencing financial difficulties.
In April, after an accident involving a Tesla car that crashed into a fire truck in autopilot mode, and the company’s bankruptcy joke, its shares fell by 8%. In total, for the previous month, shares fell by 21%.
In May 2018, it became known that Tesla closed the quarter with a record loss of $ 710 million, which caused discontent among investors. By the time of the report, the company had already left six top managers, the production of a new electric vehicle was delayed, and Mask promised shareholders to stabilize the work of the enterprise.
Later during the online reporting conference Ilon Mask refused to communicate with two interlocutors. On the question of one of the analysts about financial problems, Musk answered that the questions were boring and stupid. When asked by the second interlocutor about the budget version of the Tesla, he said that these questions kill him. After that, the shareholders doubted the competence of the Mask, and Tesla’s shares fell by more than 5.5%. On May 4, Mask stated in his tweet that the questions were asked not by investors, but by representatives of stock exchange players who wanted to drop the company’s shares.
After a series of financial setbacks, some co-owners of Tesla proposed to deprive Ilona Mask of the status of chairman of the board of directors. Opponents Mask argued that he can not occupy this post and at the same time deal with projects SolarCity and SpaceX. On behalf of all investors, Loup Ventures managing partner Jean Munster said that over the past six months there were too many examples of behavior that undermine investor confidence. However, the shareholders decided not to dismiss Ilona Mask.
In July 2018, Ilon Mask suggested sending a mini-submarine to help children who, because of the flood, were isolated in a cave in Thailand. However, rescuers refused to use it. Later, Ilon Mask called the rescued children a diver pedophile. As a result, Tesla shares fell 4%. Shareholders urged Mask to apologize, which he did, explaining that he insulted the diver in a temper. Stock quotes on the stock exchange recovered even before his apology.