Elon Musk wanted to impress his girlfriend Grimes with $420 share price: SEC

[brooklynite]

Source: National Post

It turns out that the price Elon Musk came up with to take Tesla Inc. private really was about weed, and that the embattled chief executive officer tweeted the figure to impress his girlfriend, the rapper Grimes.

The U.S. Securities and Exchange Commission made the connection clear at a Thursday press conference after announcing that it had sued Musk for falsely asserting that he had secured funding to take the company private at $420 a share.

“While leading Tesla’s investors to believe he had a firm offer in hand, we allege that Musk had arrived at the price of $420 by assuming 20 per cent premium over Tesla’s then existing share price then rounding up to $420 because of the significance of that number in marijuana culture and his belief that his girlfriend would be amused by it,” Steven Peikin, co-director of the SEC’s enforcement division said.

A code term for consuming cannabis, “420” is even something of a holiday with many marijuana users celebrating April 20 as “4/20 Day.”

Read more: https://nationalpost.com/news/world/elon-musk-wanted-to-impress-his-girlfriend-grimes-with-420-share-price-sec

[crazytown]

1. I have a son in law who works for Telsa.

Got him out of a dead end job. I’m not sure what to make of this.

[JustABozoOnThisBus]

6. Elon Musk's wackiness doesn't reflect on his workers.

I wish your son-in-law a long and satisfying career at Tesla, or other tech companies.

[LisaM]

2. I find Elon Musk excessively annoying!

This doesn't surprise me in the least.

[muriel_volestrangler]

3. I'm looking for the signs that this is a spoof

It seems to be real; and Musk didn't deny the "420" bit. Fuck me, if I were a shareholder, I'd now be really worried. Bart Simpson appears to be in charge of the company.

[htuttle]

8. True, but what if Bart Simpson also built the company?

[pecosbob]

4. That's illegal to my understanding...

[Blue_Tires]

5. Okay, I get that Musk is scary smart, but he's starting to believe all that

"hero worship" bullshit written about him over the years and now it's his ego/peener doing the thinking and not his brain...

Besides, he's a super-genius with jillions in his bank account... Surely he could have found another way to impress his girl?

[truthisfreedom]

7. I think he's worked himself crazy.

[CabalPowered]

9. I agree

Needs to buy a yacht and take a long vacation.