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Elon Musk, the billionaire new owner of Twitter, will attend online rather than physically the business meeting in Indonesia that will take place in conjunction with the G20 conference, a top Indonesian official announced on Sunday. Musk, who also controls the electric vehicle manufacturer Tesla, was scheduled to appear at the so-called B20 business conference in Bali. Still, that event has been postponed because of a legal battle over his 2018 compensation package, which included $56 billion in stock options, is set to start next week.
“Elon Musk is facing a trial in this matter. He has to appear in court “Luhut Binsar Pandjaitan, Indonesia’s Coordinating Minister for Maritime and Investment Affairs, made this statement to reporters on the eve of the G20 Leaders Summit, which begins on Tuesday.
According to his staff, the wealthiest man in the world will rather participate in an hour-long online debate with Indonesian tycoon Anindya Bakrie at the B20 on Monday about “future disruption of global technological innovation.”
Jeff Bezos, the founder of Amazon, Justin Trudeau, and Anthony Albanese, the prime minister of Australia, are listed as attendees at the B20.
After “his matter at the court concludes,” according to Pandjaitan, Musk will travel to Jakarta in December.
Joko Widodo, the president of Indonesia, traveled to Texas earlier this year to meet with Musk to discuss Tesla investing in the nation’s nickel industry.
The world’s largest nickel reserves are in Indonesia, and a leading manufacturer of electric vehicles is said to be interested in using these resources for parts for its batteries.
Tesla’s shareholders at the time accepted the enormous compensation package currently being contested in Delaware by a Tesla shareholder.
The complainant, however, claimed that Musk, as the majority shareholder, had presided over a conflicting transaction that had been approved by a board that he controlled and that it should be revoked.
The same judge who last month declared Musk must adhere to his multi-billion dollar purchase of Twitter will preside over the case this time around.
A number of world leaders, including the presidents of China and the United States, will attend the G20 conference on the predominantly Hindu island.
Vladimir Putin, the president of Russia, will not be present at the meeting as long as the conflict in Ukraine persists.
