Investor's Corner
Tesla shareholders are taking a stand against law firm’s $6B TSLA stock request
Is the law firm behind the legal complaint that ultimately rescinded Elon Musk’s 2018 pay package looking to get overpaid? A growing number of Tesla shareholders say so. This is highlighted in a grassroots effort from Tesla stockholders who are currently using their voices to ask Delaware Judge Kathaleen McCormick to deny the request of law firm Bernstein Litowitz Berger & Grossmann, which is demanding a compensation of nearly $6 billion for their services in the case against Musk.
Elon Musk’s 2018 pay package was rescinded by Judge McCormick in late January. The case was filed by a thrash metal drummer and car enthusiast, Richard Tornetta, who held nine TSLA shares when the legal complaint was filed. In a brief, the lawyers noted that they should be compensated in the form of 29 million TSLA shares. The block of TSLA stock would be worth nearly $6 billion, which would translate to an hourly rate of about $288,888.
#DelawareCourt81
letter sent in support of giving the plaintiff's attorneys the reward they deserve: 9 shares. pic.twitter.com/cGWHx5Xxym— James Moore (@russellisright) March 5, 2024
“Plaintiff’s Counsel instead seeks a fee award in kind—a percentage of the shares returned for unrestricted use by Tesla (rather than cash). In other words, we are prepared to ‘eat our cooking.’ This structure has the benefit of linking the award directly to the benefit created and avoids taking even one cent from the Tesla balance sheet to pay fees. It is also tax-deductible by Tesla,” the lawyers wrote in a brief.
#DelawareCourt81
Fullfilled my duty from EUROPE as well ? pic.twitter.com/0fATjfdnvF— SeefyCar (@SeefyCar) March 6, 2024
Elon Musk has responded to the Delaware court’s decision on X, stating that the idea of paying the lawyers behind the case nearly $6 billion in TSLA stock was “criminal.” Musk’s sentiments are understandable, especially since the vast majority of TSLA shareholders did approve his 2018 compensation plan. A number of these shareholders have now decided to make their voices known by sending letters to Judge McCormick explaining that they do not just support Musk’s 2018 pay package — they are also against the idea of paying Bernstein Litowitz Berger & Grossmann nearly $6 billion in TSLA stock.
??#DelawareCourt81 pic.twitter.com/yy8WqewatA— Ale?andra Merz (@TeslaBoomerMama) March 6, 2024
The TSLA shareholders have selected the hashtag #DelawareCourt81 for their movement. A look at the hashtag on X, the social media platform formerly known as Twitter, shows that retail shareholders from all walks of life are now sending letters to Judge McCormick. Some have even sent letters from abroad. Others shared personal stories about how their retirement is tied to TSLA stock, and how a $6 billion TSLA share grant to Bernstein Litowitz Berger & Grossmann would cause them great financial harm.
Ready to ? in the morning. This letter to the Delaware judge highlights these 4 points:#DelawareCourt81
1️⃣ The excessive $6 BILLION in attorney fees lacks transparency and does not benefit shareholders.
2️⃣ The invalidation of Elon Musk’s 2018 pay package is not based on a… pic.twitter.com/3I5Xeq7bDc— Gail Alfar (@GailAlfarATX) March 5, 2024
It remains to be seen if the Tesla shareholders’ efforts would affect Judge McCormick’s final rulings on the matter. But regardless of the Delaware Judge’s decision, the efforts undertaken by the Tesla shareholders deserve a notable amount of praise. Elon Musk seems to appreciate the shareholders’ efforts, at least, as the CEO expressed his thanks in a reply to a shareholder’s post about the initiative.
Bernstein Litowitz Berger & Grossmann’s brief about its request for compensation can be viewed below.
March 1, 2024 – Fee Brief as Filed_Tesla by Simon Alvarez on Scribd
Don’t hesitate to contact us with news tips. Just send a message to simon@teslarati.com to give us a heads up.
Investor's Corner
Elon Musk drops a Thanksgiving hint about Starship’s biggest test yet
Elon Musk says Starship Flight 15 will try to catch the ship itself, a first.
Elon Musk says SpaceX’s next Starship flight will try something nobody has done before, by catching the ship itself. Speaking to roughly 2,000 people at the X Takeover event at Giga Texas on Saturday, Musk said Flight 15 is about four to six weeks away and “probably launches a little bit before Thanksgiving, is my guess.”
That is a slip from earlier reporting, which had pointed to a launch as early as October 19. Musk explained why the date keeps moving. “We’re making a bunch of improvements to the rocket between every flight,” he said, adding that there are often hundreds, sometimes thousands, of small changes. This time the list is short, “but some of them take a fair bit of work and we’ve got to go inside the tank to make some of these changes.”
“We’re going to try to catch the ship, which is a super big deal,” Musk said. “If we do so, that’ll be the first time that there’s been full recovery of an orbital class rocket.” SpaceX has already caught the Super Heavy booster with the tower’s mechanical arms, and has talked about catching the ship since late 2025, but the upper stage has never been caught.
Musk also laid out what comes after. “The next big milestone would be to refly both the booster and the ship,” he said, describing a Flight 16 where “all parts of an orbital rocket are reflown.”
The reason SpaceX wants this comes down to cost and cadence. Every Starship ship so far has ended its flight in the ocean, and SpaceX expects most of those water landings to end in fireballs. A ship that returns to Starbase intact can be inspected and flown again. SpaceX’s IPO filing, says Starship V3 is designed to deliver 100 metric tons to orbit in a fully reusable configuration, that SpaceX aims to cut the cost to reach orbit by 99% or more versus the historical average, and that tower catches should allow “multiple launches per day.”
The payoff goes beyond cheaper launches. The next generation Starlink V3 satellites are too large for Falcon 9 and can only fly on Starship, which can carry up to 60 per flight. Flight 14 on September 28 deployed the first 26 of them after Starship reached orbit despite an early engine shutdown, as Teslarati reported. Musk blamed engine computer software, and said the heat shield “was extremely robust,” which he claimed in August had solved Starship’s biggest challenge.
NASA’s Moon plans depend on the same capability. NASA’s inspector general has described a lander mission that needs a propellant depot in low Earth orbit and more than 10 tanker flights, with SpaceX targeting one tanker launch every six days. That schedule only works if ships and boosters come back fast and fly again. Also, ship to ship propellant transfer has not been attempted yet.
One interesting hurdle yet to be explored is bringing the ship back to the launch site, with reentry over land, which will undoubtedly come with a lot of aviation safety reviews.
Investor's Corner
SpaceX reveals how its 1 Million AI satellite network will work and prevent space collisions
SpaceX reveals plans for one million Starmind AI satellites and calls out operators hiding maneuvers.
SpaceX has put the largest satellite count it has ever published into writing, and it says that plan only works if every other operator in orbit starts sharing what it knows.
In a new Space Safety page highlighted Tuesday morning by Sawyer Merritt on X, SpaceX said it “plans to operate up to 100,000 Starlink satellites and up to 1 million Starmind AI satellites to meet the growing demand for broadband and supercompute.” Starlink has a little over 11,000 satellites in orbit today, so the target alone implies roughly a ninefold expansion of the broadband network.
Starmind is SpaceX’s orbital AI compute constellation. Elon Musk confirmed the Starmind name in June after an xAI trademark filing surfaced, and in August SpaceX said it was working with Nvidia on the compute payload. The FCC accepted the filing for up to one million satellites back in February.
FCC accepts SpaceX filing for 1 million orbital data center plan
SpaceX also released a new render of what a full Starmind constellation could look like. Alongside it, SpaceX VP Michael Nicolls explained why the satellites will not operate on their own. “We need to operate clusters of satellites in tight formation to get enough coherent compute to run AI models efficiently,” Nicolls said. “A cluster will be 10-ish satellites connected with 10 terabits or so of bandwidth between them, and interconnected to the broader constellation.”
That is the most specific detail SpaceX has given on how Starmind will be built. Instead of a million independent servers, the network would work as tightly packed groups of about 10 satellites acting as one compute unit, with Starlink’s laser links carrying results back to Earth.
There is a bright and exciting future for humanity ahead – and space is fundamental to that future.
To achieve this, space safety must be done right. We encourage every operator to not only share ephemeris data proactively the same way Starlink already does, but to also adopt the high standards of space safety that SpaceX and Starlink use every day → https://t.co/QizAkQZvEm
— Starlink (@Starlink) October 6, 2026
Packing satellites that close together, at that scale, makes collision avoidance the central problem, and most of the Space Safety page is aimed at other operators. SpaceX said Starlink encountered collision risks with about 650 unique maneuvering third party satellites in 2026, and only about half of them shared data. Over six months, Starlink recorded roughly 164,000 more collision risks where the closest approach came within four hours of an unannounced maneuver.
Some operators keep maneuver plans private over proprietary concerns, while others cannot get government permission to share them. SpaceX called those policies “counterproductive,” saying they “largely only serve to create preventable collision risk between satellites.” Starlink is also offering a free ephemeris sharing and screening platform that returns risk results within a minute, backed by its Stargaze network of 30,000 optical sensors.
The push comes as the Starmind application draws opposition from astronomers and environmental groups. In a September filing with the FCC, SpaceX said each Starmind satellite could weigh up to 4,000 kg, nearly seven times the mass of a Starlink V2 Mini. Musk has brushed off crowding concerns before, telling viewers in June that “space is enormous” and that SpaceX already knows how to run very large constellations safely.
SpaceX’s Starmind page says its Gigasat factory in Bastrop, Texas, is designed to produce AI satellites at scale, with deployment of thousands of units starting as soon as late 2027.
Investor's Corner
Tesla deliveries best Wall Street guesses alongside second-best energy quarter
Tesla (NASDAQ: TSLA) reported strong delivery figures that beat Wall Street guesses, and they were revealed alongside the company’s second-best quarter in terms of energy deployments ever.
Tesla announced this morning that it delivered 486,532 cars in Q3, while producing 464,391, exceeding analyst consensus, which sat around 462,000 units.
Meanwhile, Tesla reported 13.7 GWh of energy storage deployed for the quarter. That’s the second-best quarter Tesla has ever reported on that side of things.
🚨 Tesla delivered 486,532 vehicles in Q3, beating expectations at 464,391.
Big Q from the Tesla team, also 13.7 GWh of energy was deployed. pic.twitter.com/olioLWgG7a
— TESLARATI (@Teslarati) October 2, 2026
Vehicle Deliveries
Deliveries were strong, and it was another quarter when Tesla had the opportunity to outshine the Wall Street pundits who are quick to criticize and slow to give credit. Tesla saw a slight decrease in deliveries compared to Q3 2025, but Tesla still had the $7,500 EV Tax Credit to use to help incentivize consumers to pick an EV.
A small decrease of 2.1 percent is pretty telling because it shows Tesla does not need massive federal credits to convince consumers to purchase its vehicles.
It was also the company’s third-best performance all-time in terms of deliveries, trailing that of Q3 2025 with 497,099 deliveries and Q4 2024, when the company handed over 495,570 cars.
We reported several days ago that Tesla Showrooms across the United States were completely bare of inventory or unclaimed units. Many locations also removed Demo Drive units, which had been bought by customers looking to take delivery sooner.
Tesla showrooms picked clean ahead of Q3 end as demand looks strong
Energy Generation
Tesla’s Energy Generation performance in Q3 was also very strong, as the company deployed 13.7 GWh of energy storage over the past three months. The only quarter when Tesla reported stronger energy deployment figures was Q4 2025, when 14.2 GWh of energy storage was deployed.
Tesla’s Q3 performance in energy generation has continued to grow each quarter, with the company increasing its deployments by ten-fold since Q3 2021, when just 1.3 GWh was deployed.
It is also nearly double what it was in Q3 2024, when the company reported 6.9 GWh. This is one of Tesla’s quickest-growing divisions, and it flies under the radar with fans and analysts, as many are focused on self-driving or the vehicles themselves.
Tesla Stock
Shares rose 5.07 percent to $372.06 at just after 10 a.m. on the East Coast. This is a rarity for Tesla after a strong delivery report, as positive news usually brings the stock down. Many quarters with extremely robust delivery reports have not been as kind to the Teslanaires of the world.