Quote:
Originally Posted by BrownTown
That may be true, but he's still not going to jail. Worst case scenario is some sort of fine that's insignificant in relation to his net worth.
And it's most likely nothing happens. Elon Musk is pretty much teflon. He rivals only Donald Trump in terms of constantly saying absolute BS and still having an army of rabid fans willing to proclaim him the best thing since sliced bread.
|
You are probably right that any fine won't itself hurt him much but this article explains Tesla's problems. And if he were to lose Tesla, I'm pretty sure it would be a major psychological blow that might change his willingness to propose grand schemes like the subject of this thread:
Quote:
The Game Has Changed at Tesla
By Charley Grant
Aug. 17, 2018 12:04 p.m. ET
Tesla’s investors, captivated by the electric car maker’s future growth prospects, have ignored its rickety finances. That is no longer possible.
Tesla is in trouble after a chaotic week. Elon Musk’s supposed plan to take the company private at $420 a share looks more like a fantasy. The Securities and Exchange Commission is investigating the company on multiple fronts, including issues related to disclosure about production of the Model 3 sedan. Shares dove 8% Friday morning.
The SEC investigation is a threat to investors, albeit not in the way one might expect. Whatever fine might come if Tesla was found to violate regulations would have minimal impact. The most important impact is Tesla may struggle to raise the cash it badly needs while the investigation is going on. Few investors will buy new shares in a company under investigation. Those who would will likely demand tough terms, which would come at the expense of current investors . . . .
|
https://www.wsj.com/articles/the-gam...s&page=1&pos=2
Could he go to jail? Not likely based on what he has done so far. But very rich people have been known to, often times after losing most of their wealth when their principle businesses went down. We know Musk has a high net worth in the stock of Tesla, SpaceX and so on but those companies don't actually make any money and Musk clearly doesn't want to raise cash through public share offerings that might dilute his holdings and, as a result, his control.