Member of the Board of Directors of Tesla, Larry Ellison unveils 1 billion stake in the company

Billionaire Oracle founder Larry Ellison (Larry Ellison) is the newest member of the Board of Directors of Tesla, which was supposed to show in the new ticket SEC that he has a share in the company.

Larry Ellison, one of the richest people in the world with a net capital of $ 60 billion, earlier it was reported that he made a “large” investment in Tesla last year before he was appointed to the Board of Directors.

Under the agreement, Elon musk and Tesla with the SEC regarding the review of the first that the company becomes private, the Board of Directors had to appoint two new “independent” Directors within 90 days.

Last month, the automaker fulfilled its obligation of appointing to its Board two new independent Directors: Larry Ellison, founder of Oracle, and Kathleen Wilson-Thompson, a longtime head of the personnel Department.

Now that he is a member of the Board of Directors, he had to disclose its position in TSLA in the SEC, and the filing revealed that it owns 3 million shares.

On today’s share price, its share in Tesla is nearly $ 1 billion, and it became the largest independent shareholder in the Board of Directors, except for Elon musk, who had to resign from the post of Chairman in the same settlement SEC.

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