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by slrainka
755 days ago
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Not the founder? maybe read Walter Isaacson's book. Stock graph shows Tesla stock had no material impact from the Solar City purchase, 90% of it's value coming after 2020. Today, Tesla energy and solar dominates the industry to the point where every installer offers Tesla Solar including the largest US installer Sunrun. |
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The company was founded in July 1 2003, Musk didn’t even hear about the company until 2004. That’s a rather large gap to call someone a founder. But hey it’s an arbitrary distinction so feel free to disagree.
> Stock graph shows Tesla had no material impact from the Solar City Purchase
From the announcement of the purchase to its completion Tesla’s stock dropped ~20%.
Buying or creating a solar company in house made sense, over paying to bail out a relatives solar company he was involved with didn’t. Solar City was in 1.5 Billion dollars in debt, their business model was failing, and they had just laid off 20% of their workforce so yea Tesla shareholders got hosed.