Presiding Judge Seon Musk's Bombshell Statement: "I Didn't Want to Appoint Tesla CEO"

Attendance at Lawsuit Trial for 'SolarCity Overpriced Acquisition' Compensation Claim
Musk Testifies in Court "No Interest in Tesla Management"
Emphasizes No Involvement in Tesla's SolarCity Acquisition
Engages in Heated Exchange with Plaintiff's Lawyer

On the 12th (local time), Elon Musk (first from the left), CEO of Tesla, greeted passersby after finishing a damages lawsuit trial at a court in Wilmington, Delaware, USA. During the trial, he stated that he did not exert any pressure in Tesla's acquisition of the solar equipment company SolarCity and said, "I did not want to serve as Tesla's CEO." This is interpreted as emphasizing that he did not exert pressure in the SolarCity acquisition by pointing out that he did not have actual management control over Tesla. Earlier, Tesla shareholders filed a damages lawsuit against Musk, claiming that Tesla caused losses by acquiring SolarCity at an inflated price in 2016. Wilmington, USA = Reuters Photo by Yonhap News

[Asia Economy Reporter Kim Suhwan] Elon Musk, CEO of Tesla, has caused a stir by stating "I did not want to be Tesla CEO" in a damages lawsuit related to the acquisition of solar equipment company SolarCity.

Musk, who was sued by Tesla shareholders, is believed to have made this statement to emphasize that he did not exert any influence over the SolarCity acquisition process.

According to foreign media such as The Wall Street Journal (WSJ) and CNBC on the 12th (local time), Musk appeared at a court in Wilmington, Delaware, USA, and made these remarks.

[Image source=Reuters Yonhap News]

Previously, in 2016, Tesla acquired SolarCity for $2.6 billion (approximately 3 trillion KRW), and investors raised suspicions that Tesla paid an excessively high price above SolarCity's corporate value.

Investors criticized that Musk pressured Tesla to use its funds to acquire SolarCity at a high price to support SolarCity, which was on the brink of bankruptcy, causing losses to Tesla shareholders.

They also added that Musk, one of SolarCity's largest shareholders, sacrificed Tesla to reduce his own losses.

In response, investors pursued a damages lawsuit, and Tesla board members paid a settlement of $60 million. However, Musk refused the settlement and ultimately became the sole defendant in this lawsuit.

On the 12th (local time), Elon Musk (below), CEO of Tesla, got into a vehicle after finishing the trial. Wilmington, USA ? Photo by AP Yonhap News

The key issue in this lawsuit is whether Musk actually infringed on Tesla shareholders' interests and whether he exerted direct influence over the SolarCity acquisition.

Appearing in court that day, Musk defended himself against the plaintiffs' claims, stating that he did not exert any pressure on the SolarCity acquisition.

In the process, he even said that he was forced to take on the position of Tesla CEO against his will.

He said in court, "I made every effort not to become Tesla's CEO," adding, "I did not want to be anyone's boss."

Musk further added, "I dislike management-related tasks and would rather do design work or engineering-related tasks, which instinctively are the tasks I prefer."

Musk also emphasized that SolarCity could have overcome its deficit on its own even if Tesla had not acquired it.

Musk said, "I have a strong belief that SolarCity could have raised funds independently."

[Image source=Reuters Yonhap News]

Additionally, Musk was seen engaging in an emotional confrontation with the plaintiff's attorney.

On that day in court, plaintiff's attorney Randy Baron pointed out, "Tesla's acquisition of SolarCity was not for Tesla's benefit nor to achieve any performance."

In response, Musk said, "You are a very bad person," and "Baron was guided by criminals and is still being guided," replying with an emotional tone. This is interpreted as Musk raising issues about Baron's past work at a law firm involved in a corruption scandal.

He added, "I respect the judge, but I will not respect you (Baron)."

If Musk loses this lawsuit, he may have to return the acquisition amount of SolarCity to Tesla shareholders.

This content was produced with the assistance of AI translation services.