#Lyndon rive net worth trial

He said he didnвЂ™t pay attention to the pricing discussion since, like Musk, he was recused from considering the issue. вЂњIf thatвЂ™s what the minutes say, thatвЂ™s correct,вЂќ said Gracias, who is set to leave TeslaвЂ™s board in October. Under questioning by Christine Mackintosh, a lawyer for pension funds suing over the deal, he said he had to decide which side of the deal to work on and chose Tesla over SolarCity.ДЄt one point Mackintosh said board minutes showed both Musk and Gracias were present when other directors were discussing how much to pay for SolarCity. Gracias, head of tech investment firm Valor Equity Partners, was one of the early investors in Tesla and also owned SolarCity stock and served on the solar companyвЂ™s board. In addition to his own role there, its CEO was Lyndon Rive, his cousin. The shareholders who sued Musk say the purchase was tainted by his influence with his board and his ties to the solar company.

He said he and Musk made themselves вЂњavailableвЂќ to TeslaвЂ™s board for any questions on the purchase. вЂњHeвЂ™s recused from the deal, but not from doing his job,вЂќ Gracias testified under questioning by Daniel Slifkin. He emphasized that Musk removed himself from the dealвЂ™s pricing and from voting on the acquisition but had a legitimate part to play. Gracias, the last witness, was questioned by MuskвЂ™s attorney about the 50-year-old chiefвЂ™s role in the acquisition.

#Lyndon rive net worth trial

director Antonio Gracias told a judge.ДЄ two-week trial over the billionaire CEOвЂ™s role in the $2 billion transaction wrapped up Monday, and now Judge Joseph Slights III must decide whether Musk - who was the solar companyвЂ™s chairman and largest shareholder at the time - properly removed himself from the deal to avoid conflicts of interest.

weighed the purchase of power provider SolarCity in 2016, his longtime ally and fellow Tesla Inc. Elon Musk was acting as a proper chief executive officer as Tesla Inc.