For those who want to know the extent of my golddigging, this is what I asked for, from my ex-husband and the father of my five children Elon Musk, who is a billionaire* and utterly brilliant.
The house
alimony and child support
6 million cash
10 percent of his stock in Tesla
5 percent of his stock in SpaceX
(and he retains all voting rights)
and a Tesla Roadster (I really, really want one...)
Is that what I deserve? I don't know. Who exactly deserves that kind of wealth? But based on our life and history together, is that reasonable? I think so. And I want to do good things with it (and bring my parents down from Canada so that they can live near their grandchildren).
People ask me why he won't settle. I can't answer that (or rather, I could try, but I won't).
At any rate, I shall now turn my attention to other things.
* albeit with cash/liquidity issues, which I would work with him to work around
The house
alimony and child support
6 million cash
10 percent of his stock in Tesla
5 percent of his stock in SpaceX
(and he retains all voting rights)
and a Tesla Roadster (I really, really want one...)
Is that what I deserve? I don't know. Who exactly deserves that kind of wealth? But based on our life and history together, is that reasonable? I think so. And I want to do good things with it (and bring my parents down from Canada so that they can live near their grandchildren).
People ask me why he won't settle. I can't answer that (or rather, I could try, but I won't).
At any rate, I shall now turn my attention to other things.
* albeit with cash/liquidity issues, which I would work with him to work around



Comments
If you guys don't like each other, just get the hell out of each other's lives. You are being totally whiny and unreasonable. Whatever money Elon has, he has earned it through his own hard work. Yes, a woman's support can sometimes be critical but, clearly that doesn't seem to be the case anymore.
I'm sorry.
I would think a man of his standing would want to be fair to the mother of his children, but I guess it's become all about points and winning.
I'm sorry you're going through this, too.
Hang in there. Love you. Eggs Benedict should be in our future. ;)
Powerful men are funny. They like to "win". And for it to prove their "superiority". If they "win big" then it proves who they are. It's that ego that allows them to be so successful but is dysfunctional in other settings. That's my view from being thoughtfully married to a powerful and narcissistic husband. Trumps rationality, care for the kids, and all other less urgent concerns.
it's not a bad request. You do have five kids to support. I wish he could see it that way.
;-}~~
Agree with the above comments. If this has gone a year and will go another year, he'll have to approach that $6M in legal fees and lost time. And in this case the negative advertising IS negative and could cause him all kinds of problems from what I understand. It's just cutting of his nose to spike his face.
Of course now I'm dying to know what he offered and has come down on 5% a day on since. That one really cracked me up. As someone who negotiates complicated deals every day, I can tell you that to say you're going to do that and actually do it are two different things. Can you say patriarchal?
Here's hoping RD Jr did NOT base his latest performance off that of E!
My situation is far more mundane, and on a far smaller scale, but when I told my ex that he would, in fact, HAVE to pay child support, because the state of Iowa requires that the partner with the higher income pay child support, and not because I'm a horrible human being, he replied, "Well, I could always pay you the child support and then you could give it back to me. The court wouldn't know." I looked at him like he was crazy, and he continued to look at me like I was a horrible human being.
Forget the ubiquitous "woman scorned" - Hell hath no fury like a man who can't get his way in every detail...
I'm not an Elon-hater but I swear, for such as supposedly bright guy, he sure makes some dumb moves at times.
Best of luck,
anonymousonpurpose
He is probably paying off the judge and lawyers so they side with him. Don't you think he'd just want to settle so him and his fiance can get married? Why is she not pressing him to just settle so they can live happily ever after? Oh, because he is a narcissist that lacks empathy and can't imagine the fact of losing control of you.
Question- what the hell is wrong with his current fiance for thinking he is a good guy? Does she not follow this? What about her parents?
Is your contribution to that wealth creation one factor in determining fair numbers?
When you say 10% of Tesla, is that simply trying to arrive at a total number or based on some other formula driven by your contribution to building the company (even if thru emotional support)?
Or is the only way you calculate "fair" what you think you will need to support your family and desired lifestyle?
-- Ben Casnocha (officially anon because don't have an LJ account!)
In this case, the percentage was fitted into a total package deemed "fair" based on various recommendations, the particular context of us and circumstances involved. In other words, it doesn't have to be stock necessarily. You could take away stock and put in more cash. Or vice versa.
This is life and marriage, Ben, and although there are formulas involved it can't be cut and dried so easily. The court puts greater emphasis on the responsibility the more powerful partner owes toward the less powerful partner; Silicon Valley, in contrast, is very concerned about what that less powerful partner has "earned". I think you can arrive at a place between the two -- you just need a point where one person's idea of 'fair' overlaps with the other person's idea of 'fair' and that hasn't happened with us.
He had six children with you. You married him before he had money. I know you are just as perplexed as I am and I am stating the obvious. I am praying that he has a change of heart and understands that this isn't "business".
His treatment of you directly affects his children, regardless of how you do or do not "involve" them in the divorce process. It is the sort of energy he shouldn't regret when he's old and gray. Why not be generous with you if that's how he needs to think of it? I hope his lawyers call tomorrow and ask if you'll still take all you've asked for.
And you do deserve the Roadster. :)
-Rashid
what you're asking for sounds completely reasonable, considering how much he actually is worth. The money, properly managed, will easily see you through the rest of your life (along with your own book royalties, though I'm sure they are dwarfed by his money). The child support will allow HIS children to be taken care of in the manner in which they have become accustomed, and the stock allows you some security.
He really needs to look at this as an investment. It's money he won't even miss.
I'm sorry he's being so stubborn. I know this stuff takes a toll on everyone involved. My sister (though we're talking about much less money) goes through this crap with her ex over my nephew's...everything. In that case she's got the money and it's an argument over where he'll go to school (she's paying for a private school he doesn't like) or just anything, because he's a total control freak. It's never about his child, but about him being in control.
Good luck, try to take some time and relax :)
I worry about your posting things like this to a public forum. I think it makes you seem defensive and you don't need to be.
People commenting here seem to think your offer is "reasonable" because it's small. But I doubt that Elon, any of his lawyers, any of your lawyers, or the judge have used the word "reasonable" at all. The law substitutes contracts for subjective ideas people have about what's reasonable and what's not. You're not honoring the terms of your post-nup contract. That's not "reasonable."
I assume this post (which I also assume your attorneys signed off on) is intended to influence the only people who have real power over Elon: his financial partners. It's smart to not ask for stock in common shares, but even if you take preferred shares, 10% is a sizable percentage -- a financial backer who assumes you're hostile to Elon could see you partnering with other dissatisfied stockholders to gain control of the company. You signal here, though, that you'd trade stock for cash. I think that's a smart play.
There's been lots of speculation in the press about whether this divorce would hobble Elon's ability to finance his companies. This blog post will certainly put that to rest. But is that the right move? Wouldn't it be better to fuel those fears to bring outside pressure to bear on Elon? Your lawyers seem to think that getting the law around post-nuptial agreements clarified is the most reliable path, and that making it clear to Elon's attorneys that this whole thing can be inexpensively resolved will appeal to their path-of-least-resistance reasoning. But Elon has made it clear that he's happy to spend six million to keep you from getting six million, so it sounds like from his perspective the size of your offer is irrelevant. And as you've said before, he's been proven right so many times before that there's no benefit to listening to other people's opinions when they're in conflict with his own beliefs.
Good luck with this. Given that all of this is in the public record, you'd think Elon would want to behave in a way that preserves the respect of his kids when they learn these details a decade from now. But children are forgiving of their parents. I'm full of lots of opinions without having any of the information one would need to support those opinions, but the pain of this is universal nonetheless.
And I was talking about 'fair' and 'reasonable' not in legal standards but in is-she-a-golddigger standards.
Good luck with this ordeal. I can't imagine how stressful it is.
Aside from the stock, which he may not wish to part with on principle, it would seem that he could settle for the remaining aspects of your offer and not even notice the money gone from his accounts, as it were. He's probably spent much more than that on legal fees already, hasn't he?
Clearly, pragmatism has been won over by emotions, now. How unfortunate for you and for him. Best wishes for you. I don't know the whole back story, but I don't think you deserve such a prolonged, painful process to close this off. So unfortunate...
I am aware of the gossip of his uh...past digressions(?) and understand why you would want to stick it to him, but really, admit that you are in fact being just as emotional as he is. If you signed the post-nup then this boils down to either your greed or desire for revenge, stemming from a love and intoxication of the power of new money. (I mean, I remember when your blogline was love sex and money- something like that).
Someone else already stated this, but this whole post is a power play to his financial advisors. Sickening.
And he was actually pretty quick to agree to give me the car.
Edited at 2010-05-10 07:34 am (UTC)
The longer your appeal process drags on, the higher your lawyer's bill will be. (Instead of paying $ to the lawyers, keep the $ for yourself and kids). The reality, is the number of hours Justine 'works' each day, versus the number of hours Elon 'works' daily at Tesla is vastly different. The prolonged (over the course of many years) mental and physical exertion a CEO of his high caliber is much harder and more difficult than the exertion you experience, have experienced or will experience. (The fact that many of those commenting here, side BLINDLY with you with their 'emotional' arguments, tells me their yearly income levels). Years of prolonged high stress levels is why you don't see the streets littered with millionaires.
Yes, I know you had a single child who died, and bouts of 'mental' anguish. But what of years consisting of daily verbal and physical attacks a child endures from his low income parents from their sloth, beer drinking, lack of 'know how' of parenting, etc. before he reaches the legal age of 18. (I'm talking about myself here.)
Valuation of a company's stock combined with future market capitalization (Tesla's worth in 5 yrs, 10 yrs) are highly volatile. Convert these 'mysterious' and vague percentages (ie. 10% of his Tesla stock) into real, tangible numbers. For example, 10% = 30 million, 10% = 70 million, 10% = 120 million. Whatever the REAL numbers are, don't post the numbers here in ur blog because it is none of ur readers' business. As experienced and knowledgeable Mr. Zolla is in family law, there is no way he can be equally experienced and knowledgeable in IPO, corporate valuation, etc., despite what his website says. (once again, no dis)
If we were married for 8 yrs with 5 kids and a net worth of $328 million; the least I would give u is a one-time cash settlement of $10 million in total value (meaning u no longer get any company stocks) and the most is $20, 50, or 70 million. I think 70 million is too high. (But I would have to do more complex calculations).
I seem to lean toward Elon more than you because I share similar a lifestyle to his... we are both stressed out workaholics. You understand I just present FACTS here, and not jump BLINDLY on either Elon or your side. I don't need $ or financing from Elon, within the next couple years I will have $1 or 2 million myself, from 100hr+ 'work' weeks (business).
Make sure you have a prenup with ur new and current boyfriend. Check IP address(es) to make sure future replies are mine, and not some idiot poser pretending to be me.
I wish BOTH Elon and Justine best wishes in their futures.
Sincerely yours, 24
What would you do with the stock your asking for?
It's a fair question. I would like to bring down my parents and support them. I would like to save and invest. I would like to play a significant role in the causes that are becoming increasingly important to me (for example, I'd like to donate enough money to build 5 schools for girls in Cambodia and name each one after one of my sons, and then take them, when they're older, to see that, and the effects of that, first-hand.) I would like to take my kids around the world (5 kids, so travel is tough to contemplate) because I think that kind of global awareness is important, especially when they're growing up with the kind of advantages they have. And I would like to build something online -- something involving fiction, technology, & cause-marketing or cause integration -- something that explores the cutting edge of storytelling and the still-forming new landscape of publishing...I'd like to build up a brand powerful enough to discover and promote other creatives under that brand -- basically the digital equivalent of a publishing imprint (but would extend to other forms of media as well) -- I've been extremely influenced by the concept of "socially relevant storytelling", the philosophy behind a film production company called Participant.
I'm still figuring it out.
I'll do these things regardless (or try to). I would just prefer to be able to do them without being forced to sell my house (although I plan to sell it anyway).
I certainly don't need to live any better than I already do. I've already had the extravagent private-jet lifestyle, or at least enough of it to know that (besides the impact that kind of consumerism has on the environment) I need real substance in my life -- the kind found through meaningful work and high-quality relationships -- which doesn't leave you any *time* to be extravagent (except for once in a while). I'd rather write good, compelling fiction about extravagent people.
Edited at 2010-05-10 09:31 pm (UTC)