Tesla ‘may lose’ Elon Musk if shareholders don’t approve $1 trillion pay package, chairperson warns
https://finance.yahoo.com/news/tesla-may-lose-elon-musk-if-shareholders-dont-approve-1-trillion-pay-package-chairperson-warns-143908548.html
Posted by Uberubu65
13 Comments
This feels like such a non-issue. The pay package is contingent upon Tesla increasing their market cap by a 6x multiple by 2035 (among other milestones), which would be legitimately insane.
If Tesla somehow manages to get a market cap of $8.5 trillion in a decade, go ahead and give Musk whatever he wants. The current package would increase his Tesla ownership to ~30%
Is that supposed to be a threat or…?
Tesla is losing market share globally. Its cars are falling behind as competitors catch up. Elon’s pet project, the Cybertruck, was a disaster. And Elon’s political antics have led to an exodus of engineering talent and negative brand equity.
Meanwhile, Tesla AI isn’t as good as Open AI, its robotics aren’t competitive with Boston Dynamics’ best, and its self driving is behind Waymo despite Elon promising “full self driving” every year since like 2018.
At this point, the best thing Tesla could do is fire Elon, tank the stock to a more reasonable evaluation, and get back to making cars.
The wording is strange to me. I’ve never heard anyone call it a ‘loss’ to remove a parasite. Honestly, I think Tesla’s image could recover with him gone. From what I’ve seen and from the people I know, it seems that nobody decent likes Musk anymore and they don’t want to be associated with Tesla because of him. I’m no chairperson, but between saving a trillion dollars or keeping someone who drags down the company’s reputation, the choice feels like a no-brainer.
I’m sure the chairperson issues a warning (with many, many airquotes around the word)
After all, they could vote to keep their money, not instantly tank the value of their shares, AND get rid of a person who has clearly outlived his usefulness and is now the #1 obstacle to growth.
Hell, I might purchase a single share, just to be part of the party!
The guy that lost them one million units in car sales is still working for them? If a salesman fucked up one or two sales, they would be fired.
I wonder if, years from now when we look back on this period of history, we’ll connect the dots properly.
Elon Musk had an incredible amount of influence on the 2024 presidential election in the United States (and tried in Europe less directly), yet he was only able to do so because Tesla was valued at like 10x what it should’ve been. Wall Street greed, and however stupid it is to admit, Cathie Wood, played a huge role our current political environment if you think about it that way.
So, so stupid.
Best thing that can happen to that shitshow of a company. Maybe they’ll sell some cars after he’s gone and his stench of Fascism has left the building.
I don’t see that happening, but if he leaves I don’t see it changing what Tesla actually produces. They are trying to make humanoid robots, which is what a lot of other groups are trying to do. Their odds of pulling that off are about the same whether Elon is there or not. Stock price would probably tank if he leaves, but I don’t understand why it isn’t just tanking now.
That would be the best way to turn the company around. Kick his nazi ass to the curb. I call every tesla I see a swasta-car after his display during the inauguration. He is a trash human who mocked every American who died in WW2. Fuck him.
Just give him more stocks then. If he can grow Tesla further and in the process the share is worth 10 trillions then he deserves it and so be it.
The potential of Elon Musk receiving a trillion pay package from Tesla may be a nothingburger to some people. but there are real implications to this.
First, Tesla’s cumulative revenue has not yet reached $600 billion in total since the company’s inception. So you’re willing to pay the CEO more than the company has ever taken in revenue just to retain him? Why? With Musk’s antics this year, Tesla has taken a significant hit in both sales and image, which is a larger and longer term problem.
Second, Musk himself has stated that he wants to pivot Tesla out of the car industry and transform the company into a robotics company. This is a huge gamble for the company as there is no guarantee that there would be a sizeable market for the humanoid robots that he said he wants to focus on.
Third is the potential legal issues that this rises, not just for Tesla and its shareholders, but for other companied as well. Must already had a multibillion pay package smacked down by the court in Delaware, where the company was previously incorporated, as being “grossly excessive.” As a result of that case, Musk reincorporated Tesla in Texas, which is seen as being more friendly to moves such as this. If this does go through, what message does this send to other companies? In an era when real wages are shrinking, executive pay in increasing at an exponential rate, and the gap between the wealthy and working class is widening faster than ever, this sends a message that I think most people would find repugnant.
Obscene! Just disgusting! No one should be allowed to amass that much wealth. If and when Democrats take back Congress and the White House, they need to tax the Billionaire class out of existence. They are nothing but usurpers and leaches.
Isn’t this the perfect way to get rid of him and actually fix the brand? I for one will never spend a $ on Elon and Tesla regardless. They shoulda got rid of him when he did the Nazi salute, they only started considering once he is hurting their pockets.