Instead of taking Tesla private, Elon Musk should list his company’s shares in Germany
backing down. In Germany, Elon could probably tweet “funding secured” every day and get away with it.
Germans have a reputation for being rule abiding people, almost to a fault. To those not enamored with U.S. president Donald Trump, Germany presents itself as a bastion of liberal democracy and rule of law. So naturally you’d think that with all the criticism of Wirecard, German regulators would act quickly to investigate the company. In fact, the opposite happened.
Germany’s response, which would likely cause Elon to light up a celebratory joint, is – believe it or not – entirely consistent with how it has handled criticism of its public companies in recent years. Back in 2016, my firm wrote a highly critical report on the German advertising firm Ströer. Despite our track record of six de-listings, numerous investor and government recoveries, etc., German authorities actually opened a criminal investigation into me.
Sigmar Gabriel, Germany's economy and energy minister, left, and Elon Musk, billionaire and chief executive officer of Tesla Motors Inc. Photographer: Krisztian Bocsi/BloombergThe current situation at Wirecard is almost unbelievable until you think about the corporate corruption in Germany over the last few years. The fraud at Volkswagen was so egregious and widespread that multiple executives are going to prison, and the fines will total in the tens of billions of dollars.
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Why Elon Musk Should List Tesla Shares In GermanyInstead of taking Tesla private, Elon should list Tesla in Germany. In Germany he can have regulatory carte blanche, and can tweet anything he wants with no retribution – no matter how fraudulent. Moreover, short sellers and press critics would likely be investigated the moment they speak out.
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