Elon Musk’s Space Dream Almost Killed Tesla
"they were in the process of finalizing the paperwork for the funding round when Musk noticed a problem. VantagePoint Capital Partners had signed all of the paperwork except for one crucial page...Musk believed that Salzman’s tactics were part of a mission to bankrupt Tesla. Musk feared that VantagePoint would oust him as CEO, recapitalize Tesla, and emerge as the major owner of the carmaker."<p>From other sources it seems that VantagePoint may have owned less than 10% of the company. I am surprised that a minority shareholder could legally have the power to block an additional funding round; couldn't the other shareholders have brought it to a vote and overrule VantagePoint? Was the reason this wasn't done just the lack of time, or could VantagePoint really have had some procedural right to block this?