October 27, 2020

Nikola founder faces sexual assault allegations, Ford shakes up C-suite, Trump’s COVID-19 diagnosis threatens an airline recovery

Until a few weeks ago, life looked very good for Trevor Milton. His zero-emissions truck company, Nikola, went public in June and put the 38-year-old on the Forbes 400 Billionaires list with a net worth of $5.5 billion. In September, Nikola announced a deal with General Motors that came with a stock price surge and a hefty dose of credibility.



a man sitting in a car: Allegations against Nikola founder Trevor Milton aren't all related to his company. REUTERS/Massimo Pinca


© REUTERS/Massimo Pinca
Allegations against Nikola founder Trevor Milton aren’t all related to his company. REUTERS/Massimo Pinca

But then, short-seller Hindenburg Research published a lengthy report calling Nikola an “intricate fraud” and accusing Milton of “numerous lies.” A bit more than a week later, Milton resigned as Nikola’s executive chairman and abandoned his seat on its board. 

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The allegations against Milton aren’t all related to his company. On Monday, CNBC reported that an unnamed woman accused Milton of sexually assaulting her when he was 22 and she was

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