from the company he started. However, the EV executive gets to walk away with more than $3.1 billion in stock as part of a separation agreement reached over the weekend.
Milton, who's come under scrutiny in recent days, agreed to give up his position and duties as executive chairman of the board as well as all other board seats on the company's subsidiaries, according to the agreement dated Sunday. The deal strips the 39-year old entrepreneur of any say in the company's operations and blocks him from attempting to influence any decisions for at least three years, according to a company filing with the Securities and Exchange Commission on Monday.
The value of his exit package will vary over time as the start-up's shares have swung wildly since it went public on June 4. The agreement requires Milton to give up roughly 4.9 million in restricted, performance-based shares valued at $166 million as of Friday's closing price of $34.19 a share while allowing him to walk away with more than 91.6 million shares that were worth over $3.1 billion.
Milton's resignation sent shares of the company plummeting in premarket trading before opening at $24.97 – theirVIDEO
Lol he talked so much shit too. Talkin about being bigger than Tesla, people slandering his name, overcoming all the obstacles, & blazay blah. What a fraud.
My guess is the lawsuits start up within a month. He better spend that money quick because a lot lawyers in nice suits are going to be coming for it.
ahoy Pirates.... Bad!
Dude hit a lick. 3.1 billion damn
He should become a president of USA.
Where is BernieSanders on this one? What a joke, both trevor and the burn
Rinse repeat. We've seen this before. Massive monetary reward for lying and cheating.
Smells fishy
If Trevor Milton really misled investors and Nikola is a massive fraud, shouldn’t he go to prison and lose all his Nikola stocks?
How is possible that all employees of this company to be complicit with the CEO. Even an anonymous tweet to say: hey idiots, this is all fake. How in the world a company like GM can be so foolish? Don't they have anyone smart there to ask questions before spending $250mil? 🤯🤯
Now I know how to make billions.
Where's the SEC? and they dare call elonmusk a scam?
Nice exit package.
Dam guess he won after all
This sounds like a Biden deal.
Nice work if you can get it...
Who cares what he “forfeits” he kept $3billion 🙄
that's a pretty good trade
All the promises to the people and the world and turns out to be nothing but a fraud...took his money and ran.
$3 billion out of thin air. Amazing.
tickerstats_ $nkla
Crook
This is the real reason our markets are crashing. Was happening way before COVID-19. It’s 2008 on steroids. Just the beginning.
Still think the underlying idea of Nikola is appealing. If the company puts all the truths and mistruths on the table and start tabula rasa I think they can still be extremely successful.
He finessed every fucking body
So is he still in this country? When does the class action lawsuit start?
That’ll teach him!
I really respect Carson and his research, but Wilfred did a great job holding his own today 👍
Ok? Buy Tesla stock he will be ok ?
3.1 billion? am i reading this correctly?
If I am him I will start unloading those shares.
lmfao
WilfredFrost great job anchoring but short sellers don't get the respect they deserve. Carson_C_Block was on the money calling out short side anylysts that make up part of a broken system that leads investors to believe in fairy tales. Just listen to a TSLA call for reference.
Milton knows environmental sustainability. How to con his way around the current legislative climate
I really only want to hear from the pretty boy with a British accent WilfredFrost on this!! 🤣😂🤣😂🤣😂
😂😂😂- no revenue - no products- can you imagine them delaying a product or an earnings release? Show me the moneyyyyyy!!!! 0
he’s gonna be in prison within the next 18 months. maybe be sharing a cell with mr president
what a scam.
Seems fair, he worked really hard on the sketches of the badger.
Damn. What a (con)artist.
Tesla paved the way and these EVs newcomers are just messing around
junior_miller gordonkeith “Good luck to you in your future endeavors”
Never trust a man named Trevor
Still think the underlying idea of Nikola is appealing. If the company puts all the truths and mistruths on the table and start tabula rasa I think they can still be extremely successful.
That's known as sweet deal
Wonder what the gang FastMoney have to say. I thought they were too nice to this piece of work when they did bring him on fraud
Another successful Climate Change scam achieved! Ausgezeichnet!
A politician like businessman would project those sacrifices of $166MM. What a sacrifice!
Sounds like he won !
good boys strike deals for more money. great boys bevome president.
Where’s the American Greed people at?
Can’t argue with criminals. I forgot. I keep forgetting
he fleeced the ------------------- longs! Absolutely fleeced --------------- them!
Seems legit
Wow. The ultimate stock fluffer.
Prison time for this conman and asset strip him too.
Free Martin shkreli
You misspelled Madoff.
UPS , TUESDAY COMING , BLACK day , but dont say FBI arrest him .
So no jail time?
Sounds fair.
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