Elon Musk Eyes The Liquor Industry, Files Trademark For Teslaquila

Mae Love
October 17, 2018

Tesla CEO Elon Musk has never shied away from vouching for the longevity of his cars.

Tesla shares rose 4 percent to $269.81 in morning trading.

The settlement has been approved by U.S. District Judge Alison Nathan in Manhattan.

Tesla also agreed to pay $20 million.

Musk can't be chairman for at least three years, although Tesla can request extensions for the board and chairmanship changes, according to court filings. On April Fool's Day, Musk tweeted, "Despite intense efforts to raise money, including a last-ditch mass sale of Easter Eggs, we are sad to report that Tesla has gone completely and totally bankrupt".

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Twitter has frequently been Musk's go-to venue for freewheeling communications and confrontation with Tesla's critics.

The SEC alleged last month that Musk misled investors with his August 7 tweet that funding had been "secured" to take Tesla private at $420 a share, which sent shares skyrocketing and short-sellers facing massive losses.

The 1 million mile goal is something Musk and his team have been working toward since 2015.

But the August 7 claim that he had the funding to take Tesla private, and a subsequent U-turn, stunned Wall Street and came as Musk was filmed briefly smoking marijuana during a live Web show and when he called a British diver in the Thai cave rescue a "pedo".

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