Nissan Chairman Carlos Ghosn Arrested for Under-Reporting Salary: Reports
*By Carlo Versano*
The chairman of Nissan Motors was arrested following a whistleblower report that he had under-reported his compensation and used company assets for his personal benefit, according to [reports](https://www.japantimes.co.jp/news/2018/11/19/business/corporate-business/nissan-motor-co-president-carlos-ghosn-facing-arrest-charge-not-reporting-full-salary-report/#.W_LBVehKiUk) in Japanese media. The arrest follows a [statement](https://nissannews.com/en-US/nissan/usa/releases/regarding-serious-misconduct-by-nissan-chairman-and-one-representative-director) from Nissan confirming that it was investigating "serious misconduct" by Chairman Carlos Ghosn and another high-level official.
The company said it would seek to remove Ghosn from his position.
Ghosn was appointed CEO of Nissan in 2001 following his successful efforts to restructure the French auto giant Renault, and transitioned last year into a role as board chairman. He also serves as chairman and CEO of Renault, as well as chair of Nissan of Mitsubishi, through a unique corporate alliance between the three automakers. Ghosn is widely credited with saving both Renault and Nissan from bankruptcy.
The extent of the misconduct allegations, or the arrest charges, were unclear as of Monday morning. Ghosn had been under investigation following a report that he had lied about his salary in Tokyo Stock Exchange disclosures with the help of Greg Kelly, a board director.
In a statement, Nissan added:
"Also, in regards to Ghosn, numerous other significant acts of misconduct have been uncovered, such as personal use of company assets, and Kelly's deep involvement has also been confirmed."
Ghosn had been criticized for his salary of about $9 million ー exorbitant by Japanese standards.
Oracle soars as it cashes in on the AI boom, Plus: Starbucks shares continue to fall under its new CEO, and does anybody actually want a new iPhone Air?
Swedish buy now, pay later company Klarna is making its highly anticipated public debut on the New York Stock Exchange Wednesday, the latest in a run of high-profile initial public offerings this year. The offering priced at $40 Tuesday, above the forecasted range of $35 to $37 a share, valuing the company at more than $15 billion. The valuation easily makes Klarna one of the biggest IPOs so far in 2025, which has been one of the busier years for companies going public. Other popular IPOs so far this year include the design software company Figma and Circle Internet Group, which issues the USDC stablecoin..
Oracle co-founder Larry Ellison wrested the title of the world’s richest man from longtime holder Elon Musk early Wednesday as stock in his software giant rocketed more than a third in a stunning few minutes of trading. That is according to wealth tracker Bloomberg. A college dropout, the 81-year-old Ellison is now worth $393 billion, Bloomberg says, several billion more than Musk, who had been the world’s richest for four years. The switch in the ranking came after a blockbuster earnings report from Oracle. Forbes still has Musk as the richest, however, valuing his private businesses much higher.
