Elon Musk won’t attend the Indonesian G20 business summit

According to a senior Indonesian official, Twitter’s new billionaire owner Elon Musk will attend online rather than physically the business meeting in Indonesia that will take place in conjunction with the G20 summit.

Musk, who also owns the electric vehicle manufacturer Tesla, was scheduled to speak at the so-called B20 business conference in Bali, a popular tourist destination, but a court case regarding his 2018 compensation package, which included stock options worth about $56 billion, is set to start next week.

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“In regards with Elon Musk, he has a trial. He must be present at the court,” Indonesia’s coordinating minister of maritime and investment affairs Luhut Binsar Pandjaitan told reporters at the business conference on the eve of the G20 leaders’ summit starting on Tuesday.

His office said the world’s richest person would instead take part in an hour-long virtual discussion on “future disruption of global technological innovation” at the B20 on Monday with Indonesian tycoon Anindya Bakrie.

The B20 lists Amazon founder Jeff Bezos, Canadian Prime Minister Justin Trudeau and Australian Prime Minister Anthony Albanese as attendees.

Pandjaitan said Musk would visit Jakarta in December “after his issue at the court finishes”.

Earlier this year, Joko Widodo, the president of Indonesia, traveled to Texas to meet with Musk to discuss Tesla’s potential investment in the nation’s nickel industry.

The world’s largest nickel reserves are in Indonesia, and the innovative electric car company is reportedly interested in using them as materials for its batteries.

The enormous compensation package that a Tesla shareholder is contesting in court in Delaware was at the time approved by the company’s shareholders.

But the plaintiff argued Musk as majority shareholder presided over a conflicted transaction approved by a board controlled by him and that it should be rescinded.

The same judge who last month ruled that Musk must honor his multi-billion dollar purchase of Twitter will preside over this case.

A number of world leaders, including the presidents of China and the United States, will attend the summit on the predominantly Hindu island to meet with other G20 leaders.

Vladimir Putin, the president of Russia, will not attend the meeting because the conflict in Ukraine is still raging.

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