Musk — “I would unequivocally have initial control of the company”
In the 2017 for-profit talks, Musk laid out terms giving himself initial control and board appointment rights.
I think that the Preferred A investment round (supermajority me) should have the right to appoint four (not three) seats. I would not expect to appoint them immediately, but, like I said I would unequivocally have initial control of the company, but this will change quickly. At the sixteen person board level, we would have 7/16 votes and I'd have a 25% influence, which is my min comfort level. […]