Elon Musk’s Tesla Stake on Table in Divorce Dispute

SAN FRANCISCO (Reuters) – Justine Musk says she wants a pricey Tesla Roadster, 10 percent of her husband’s stake in the carmaker and the odd $6 million.

“I really, really want one,” she said on a blog she posted on May 8 about the $109,000 Roadster, which is capable of accelerating faster than a Ferrari.

She is making the demands in a contentious divorce case that could complicate plans by Tesla Motors’ Chief Executive Elon Musk to take the company public and retain $465 million in U.S. government funding to launch a mass-market electric car named Model S.

Welcome to divorce in the revolutionary world of electric vehicles.

Musk is the co-founder and largest shareholder in the electric car start-up with over 81 million shares, but it is unclear how much of the company he owns because Tesla does not disclose current shares on issue.

According to Tesla’s regulatory filing, the government loan could be in default if Elon Musk does not hold enough of the stock.

Tesla spokesman Ricardo Reyes said the company has no plans to alter its initial public offering registration statement with the U.S. Securities and Exchange Commission.

Lawyers for Elon Musk and Justine Musk did not return calls for comment.

In a blog post jokingly titled “Golddigger,” Musk’s estranged wife and author of supernatural thrillers, Justine Musk, laid out what she called “the extent of my golddigging.” Apart from the Tesla stock, she wants 5 percent of his stake in space exploration company, SpaceX, alimony and support for their five children.

“Is that what I deserve? I don’t know. Who exactly deserves that kind of wealth?” she wrote on May 8. “But based on our life and history together, is that reasonable? I think so.”

Justine Musk, whose lives in the ritzy Bel Air enclave of Los Angeles, said in a May 4 blog post that she is willing to talk about a settlement with Elon Musk if the billionaire is willing.

Justine Musk’s books includes titles such as “Blood Angel” and “Uninvited.”

Musk has won an initial ruling in the divorce dispute, but the judge certified the ruling for immediate appeal.

The dispute is over a post-marital agreement that Justine Musk signed shortly after her marriage.

She characterized the agreement as “extremely harsh” in a blog post on May 6.

“The lawsuit itself is about whether a postnup is invalid due to fraud (and if it’s invalid, I do get half),” she wrote in the blog post. “By allowing this situation to turn into a lawsuit that’s gone up to the appellate court, Elon is taking a risk which, to be utterly frank, no one seems to understand.”

Under California law, if the post-maritial agreement is thrown out, she could be eligible for half of the share of the communal property.

Despite the apparent rancor between the two, Justine Musk also said she admires Elon, and the electric roadster he pushed Tesla to develop.

“I think my ex-husband is brilliant and works like a demon and deserves his success and wealth,” she wrote. (Reporting by Poornima Gupta; editing by Andre Grenon)

1 Comment

  • It will be an illiquid asset for a while . If she reads the S1 she might want to go after some of his other assets. Wonder how the roadshow is going?

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