Lagatar24 Desk
New Delhi, Nov 13: Twitter’s new billionaire owner Elon Musk will attend online rather than physically the business meeting in Indonesia that will take place in conjunction with the G20 summit, according to a senior Indonesian official.
Musk, who also owns the electric vehicle manufacturer Tesla, was scheduled to speak at the so-called B20 business conference in Bali, a popular tourist destination, but a court case regarding his 2018 compensation package, which included stock options worth about $56 billion, is set to start next week.
“In regards with Elon Musk, he has a trial. He must be present at the court,” Indonesia’s coordinating minister of maritime and investment affairs Luhut Binsar Pandjaitan told reporters at the business conference on the eve of the G20 leaders’ summit starting on Tuesday.
His office announced that instead of speaking at the B20 on Monday, the richest man in the world would participate in an hour-long virtual discussion with Indonesian tycoon Anindya Bakrie on “future disruption of global technological innovation.”
Prime Ministers Justin Trudeau of Canada, Anthony Albanese of Australia, and founder of Amazon Jeff Bezos are listed as attendees at the B20.
Earlier this year, Joko Widodo, the president of Indonesia, travelled to Texas to meet with Musk to discuss Tesla’s potential investment in the nation’s nickel industry.
The world’s largest nickel reserves are in Indonesia, and the innovative electric car business is allegedly interested in using them as materials for its batteries. The enormous compensation package that a Tesla shareholder is contesting in court in Delaware was at the time approved by the company’s shareholders.
However, the complainant claimed Musk, who holds the majority of the stock, presided over a conflicted transaction that was approved by a board he controlled and that should be revoked. The same judge who last month ruled that Musk must honour his multi-billion dollar purchase of Twitter will preside over this case.
A number of world leaders, including the presidents of China and the United States, will attend the summit on the predominantly Hindu island to meet with other G20 leaders.
Vladimir Putin, the president of Russia, will not attend the meeting because the conflict in Ukraine is still raging.
