This is just an urban legend.

Also, Elon Musk acquired solar city and then gutted it. Essentially wasting billions of Tesla shareholder dollars and he basically shrugged it off. What he did with solar city is very obviously illegal, yet the consequences have been quite insignificant. If you don't know what he did: he acquired solar city for 2.6 billion dollars to bail out his brother Kimbal Musk at the expense of public Tesla shareholders. That money literally went up in flames for nepotism. You could say that this subsidy money he took for Tesla has all gone into the solar city bailout.

The problem Tesla board and shareholders have with holding Elon accountable is the value of their shares is completely dependent on the belief that Elon the super genius will lead them to new products. Without Elon it's just just another car company and worth a fraction of what it is now.