Billionaire Joe Gebbia who forever changed the way we travel when he helped create Airbnb has been asked by Elon Musk to join
Tesla’sboard of directors.
Who is Joe Gebbia?
Joe Gebbia is a designer by trade and was a co-founder of Airbnb back in 2007. He stuck with the company since its inception before stepping down this past July.
He still remains on the board and is the current chair of Airbnb.org, the companies affiliated non-profit that provides housing for displaced people in times of crisis, including natural disasters.
As a Tesla board member, he has waived any entitlement to cash compensation as well as equity compensation until 2023, or until the board decides what appropriate equity compensation looks like for each of its board members.
The history of the Tesla board
In December 2018, Tesla was forced to add two more members to its board after reaching an agreement with the Securities and Exchange Commission.
The SEC charged Tesla with civil securities fraud after Musk tweeted that he was considering taking Tesla private at $420 a share and had the funds to do that.
In response, Tesla added Oracle’s chair and chief technology officer, Larry Ellison and Walgreens Boots Alliance Exec, Kathleen Wilson-Thompson. Gebbia will be taking the place of Ellison who stepped down last month.
Musk is doing his best to avoid future conflicts with the SEC by replacing Ellison and sustaining the number of people on the board.
Gebbia has not been assigned to any of the Tesla board committees yet and will be joining the following current members on the board:
- Chair Robyn Denholm
- Ira Ehrenpreis, founder of the venture capital investment firm DBL Partners
- Former Japanese pension fund executive Hiro Mizuno, who is the UN’s special envoy on innovative finance and sustainable investing
- Media entrepreneur James Murdoch
- Restaurateur Kimbal Musk, who is CEO Elon Musk’s brother.
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