by Brian Shilhavy, Health Impact News:
While Elon Musk is taking advantage of the current political climate after the Trump shooting incident and claiming to support free speech and be against online censorship, his X platform has been busy the past couple of days deleting posts of the Trump shooting that do not fit the current narrative from the Republican platform, clearly betraying what he claims about being against “online censorship”.
And as he espouses views that appease those on the Right and on the conservative side of the political spectrum by attacking Gov. Newsom as he pledges to move his companies from California to Texas, the reality is that his empire that has made him the richest man in the world appears to crumbling, and in danger of completely crashing.
TRUTH LIVES on at https://sgtreport.tv/
So let’s take a peek behind the scenes and ignore Elon Musk’s rhetoric, and let’s see what is happening in the real world with the companies he owns, and where that evidence, as opposed to rhetoric, leads us, because Big Tech is in full panic mode right now.
2024 has not been a good year for Musk, to put it mildly.
First, in January of this year, Delaware Judge Kathaleen McCormick tossed out Musk’s $56 billion pay package at Tesla after a complaint filed by one of Tesla’s board members.
Tesla is the most highly valued of Musk’s companies, and is one of the “Magnificent Seven” Tech stocks that kept the U.S. economy afloat in 2023.
There have been divisions among board members over Musk’s control over the company, and the judge’s ruling in Delaware made Musk furious. He has repeatedly threatened his fellow board members that if he does not retain 25% of the company’s stock, that he will not continue developing the AI features for a fully autonomous self-driving vehicle.
There was great anticipation at this year’s (2024) Tesla shareholder meeting, where Musk wanted the board to approve a move of Tesla to Texas away from Delaware, and keep his pay package in tact.
Much of Tesla’s stock is owned by the largest fund management firms in the world, including Vanguard, Blackrock, State Street, etc. It was rumored that they were going to try and oppose Musk’s desires to keep his pay package, and I was watching the corporate news the night before the vote, and the corporate media was publishing attack pieces against Musk, bringing up new stories of a sexual harassment lawsuit filed by employees at his SpaceX company.
I thought to myself, “Here we go!”
But by the next morning it was announced that Musk had enough votes, and that the mega fund managers were going to vote in favor of Musk’s proposals as well.
The sexual harassment lawsuit stories all of a sudden disappeared as headline news on the Google News aggregate site.
What happened? Did Musk gather enough support to defeat these large investment firms?
Maybe, but this board vote did nothing to solve his ongoing case in Delaware, which is based on SEC laws and rules, and not shareholder’s desires.
Did someone make a call to Delaware Judge Kathaleen McCormick and get assurances that the court would never approve this?
Time will tell, but this is hardly the end of Musk’s problems.
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