Here is the short summary of the situation
- Elon owns between 10% and 15% of Tesla
- He doesn't want to develop AI at Tesla without having 25% control of Tesla
- The reason for this allegedly is that he only trusts himself to control AI to not go rogue
What happened:
- The Tesla board agreed to 55 billion compensation for his job as CEO
- A few shareholders sued
- A court in Delaware (taxhaven where TSLA incorporated) agreed and shut the deal down
- The given reason is that the board didn't negotiate. This is a bad look since TSLA already has a bad esGovernance rating for the board being full of Elons friends, family and henchmen.
- Elon threatened to incorporate in Texas as a revenge and to get his compensation there
The numbers
- Elon wants 55b
- Teslas latest 4 revenue quaters were 97b revenue and 17.6b profit
- Teslas total assets (not just bank account...) are 49b and 28b liabilities
- Teslas market cap is just shy of 600b
- Elons net worth is 193b as per Forbes (It's hard to say for sure since most of his companies are private and not publicly traded)