Elon Musk’s longtime VC is suing a former employer for allegedly firing him
The New York Times reports that Josh Raffaelli is suing Brookfield Asset Management for a trillion-dollar AUM. Raffaelli is suing Brookfield Asset Management for allegedly firing him because he made a whistleblower report to the SEC. His complaint is largely about how Brookfield handled pandemic-related losses in real estate. Bloomberg reported that Brookfield closed the venture capital division run by Raffaelli in February and transferred some assets to another unit. One of Raffaelli’s complaints in the suit is that Brookfield didn’t buy as much stock in Musk-owned companies as he had secured the ability to buy.
Raffaelli had deals to buy into Musk companies like SpaceX, xAI, and the Boring Company, the suit alleges. Bloomberg reported that Raffaelli’s Brookfield Fund was a major backer of Musk taking over Twitter. Today, it is a collection. Brookfield, while at DFJ helped the firm invest in Musk’s companies such as SolarCity, SpaceX and Tesla.
