Elon Musk defends in court a payment of 56,000 million dollars that he received in 2017

Elon Musk said Wednesday, on a Delaware court bench, that he was completely focused on Tesla in 2017, when the electric car maker was in “crisis,” in his rebuttal of allegations that a $56 billion package paid to him was based on easy targets and was approved by a compliant board.

Musk, known for his aggressive rhetoric, told the court in his opening remarks that he believed it was “extremely unlikely” that Tesla Inc achieved his vision in 2016, which required his full attention.

Tesla shareholder Richard Tornetta sued Musk and the board in 2018, hoping to show that the businessman used his control over the Tesla directory to set the terms of the compensation package, which did not require him to work at Tesla full-time.

Musk testified before Justice Kathaleen McCormick as he oversees a chaotic restructuring of Twitter Inc, the social media platform he was forced to buy for $44 billion by another legal battle before the same judge after trying to get out of the deal. business.

“I was totally focused on running the company,” Musk said when questioned about Tesla by his lawyer Evan Chesler, adding that he did not dictate the terms of the payment plan.

Musk, the world’s richest person, described how the automaker was struggling to survive in 2017 when the pay package was put in place.

“I thought it was extremely unlikely,” he said in response to a question about whether he thought at the time whether Tesla would succeed.

Musk said he would not agree to a payment plan that would require him to clock in or commit certain hours at Tesla. “I practically work all the time,” he said. “I don’t know what dialing on a watch would accomplish.”

Investors are increasingly concerned about the attention Musk is devoting to Twitter. On the stand, the billionaire said he focuses his attention where it’s needed most, and that in 2017 it was at Tesla.

“So in times of crisis, the assignment shifts to where the crisis is,” said Musk, who was wearing a dark suit and tie.

Musk tweeted this week that he would stay at the headquarters of Twitter in San Francisco 24 hours a day until I fix the company’s problems.