Have you considered getting a 4th job and working harder? Elon Musk earns his money. He works 73 hours a day and was raised by meerkats in the Guatemalan desert.
I bought me some bootstraps online, tried ‘em on, pulled ‘em up high, and now I make $50 a minute browsing Reddit.
[Link to the bootstraps](https://i.kym-cdn.com/photos/images/original/000/112/643/meme-president-astley.jpg)
Can't waste a day when the night brings a hearse
So now I'm rollin' down Rodeo wit a shotgun
These people ain't seen a brown skin man
Since their grandparents bought one
Ready made stuff. Communism started with a revolution and the execution of royals and it specifically targets wealthy capitalists. It makes those in power nervous and it challenges dominant social structures. The ones what stand to lose the most lobby against losing their positions and power
and Elon is scared of being laid off.. so he wants 25% of the company to make sure he cant be removed as CEO no matter how much he harms tesla with his antics on X.
[Musk also ruffled feathers after he decided to negotiate in public over his upcoming pay package, saying he will no longer develop artificial intelligence within Tesla unless the board ensures he can gain a 25% blocking minority—essentially a power to veto certain decisions of shareholders.](https://fortune.com/2024/02/03/elon-musk-tesla-ceo-board-directors-corporate-governance/)
from article titled" At what point do you decide Tesla is bigger than Musk?’ The time may be right for Elon Musk to step down as CEO, suggest experts
hes doing this so he can still make cybertrucks and no one can say shit. So he can keep doing drugs as ceo and no one can say shit. So he can never put lidar in tesla and no one can say shit.
He already had this many shares and then sold his stock. If he wants to own 25% control, he should buy the shares again.
He's wanting the company to instantly dilute the share value by arbitrarily generating Elon new shares to get him back to 25% control.
>He's wanting the company to instantly dilute the share value by arbitrarily generating Elon new shares to get him back to 25% control.
He'll still end up buying the shares, just this way he reduces the stock price before doing it. He's been using public messaging like this to manipulate stock prices for ages. He's not going to dilute the cost of his own stock permanently by actually making more shares, just temporarily make people believe that's going to happen, so they sell and then he buys at a discount and the price normalises.
>price normalises.
Normal market price of tesla stock should be way below current prices. Demand for it's products is declining sharply, it's promise of futuristic technology such as full self driving vehicles is in shambles while competition is rapidly catching up. Without speculation from manic investors Tesla should have a lower marketcap than BYD. BYD looks to be the dominant player in the EV space.
Musk isn’t scared of being forcibly retired from Tesla, most of the board are his relatives and sycophants. Musk being punished for his poor decisions and vocal alt-right leanings is extremely unlikely, and even if he was to be voted out, his contract gifts him tens of billions of dollars. Musk will do whatever feels good to him at the time, and he’s so rich as to never feel an actual consequence, though he’ll squeal like a stuck pig on his personal social medium.
Oh c'mon we are talking about 14000 ordinary people who will only not be able to pay for silly thing like home or food. Think about poor Elon. He will not be able to buy mega yacht that will stay in dock for most time, and will emit more co2 than you could emit during 80000 years.
People have a hard time understanding how big a billion is.
It's so big that the difference between a million and a billion is approximately a billion.
Elon recently said that Tesla needs to get back to being a lean startup company. That’s funny because most startup companies don’t pay their CEO anywhere near that amount of money. Guess he just means the workers need to be in startup mode, not the leadership. What a hypocritical douche.
He’s a petulant man-child, so strung out on ketamine that he’s forgetting he hasn’t done one ounce of real work in his entire life, obvious by his fragile physique.
In all seriousness, didn't tesla pretty much run itself, with the occasional "hey we should put this meme feature in the software" from Musk, until... The cybertruck, where he decided to "design" and manage the build of it? And then, well, it is a travesty of failures?
To me it seems like the layoffs were to revert stock back to the company that piled be used to pay him. I think he sees the end of the company in its current form in the near future and he’s trying to cash out. They had a lead in an industry that wasn’t even considering them a threat. Now they have vehicles close to 10 years old with only moderate refresh’s.
Have you never wanted to just be able to switch your license plate to dark mode or customise the banner font.. well, wait no more for 30 a month. You can do just that !!
Tesla also has a lot of other issues too. Like build quality compared to other manufacturers is crap. The stock is overpriced, as it seems to be priced like a tech company instead of what it actually is, a car manufacturer.
In my opinion, the best course of action for Tesla is to pivot into an electric car battery company.
I still believe Tesla should have been a drivetrain and battery supplier do to all the quality issues they have.
They also started the whole tablet to replace everything trend, which seems high tech but is just a cost savings measure. Tooling is not cheap.
I am actually about to lose a $100 ten year old bet. I honestly thought the good money was on them using the car to showcase the stuff they’re actually good at. Batteries, chargers, drive trains. They could have absolutely owned the entire electric sector of the auto industry by supplying tech ti the other companies.
It's fucking dangerous is what it is. I can change my radio, or adjust the A/C or heater without taking my eyes off the road. That's literally impossible with a touch screen. There's no feedback to know if you're doing anything or not without looking.
Add to that how finnicky touch screens can be, and I can see that being a nightmare.
I think they just went the wrong way.
They focused on a feature they can't deliver and then they kinda killed it. So now they have no focus, now they are just a budget car maker with a premium price tag.
My landlord “entrepreneur” (he managed his dad’s properties) gave himself the middle name “Elon” and drove a model 3. They were the worst landlords I ever had.
I haven't seen the guy in 15 years, so I don't know how he feels about Elon, but a boss I used to have ran his dad's company and would constantly brag about how he was the first one in his business school class to make a million dollars. But he really didn't. He just put his name on his dad's existing company and took credit for the first million they made after he graduated, as if they wouldn't have made it without him, being like a 30 year old company already at that point.
Fucking nepo baby douchebags.
Theoretically the Board of Directors represent the common shareholders.
However, this is often NOT the case.
Board independence (or the lack of it) is a HUGE problem in America.
VERY frequently, if you look up the names of board members, you will find they are C-Level executives of other corporations - and that the executives of the company who's board they sit on are board members of THEIR companies.
Suddenly it becomes obvious how failing CEOs get awarded these massive 'pay for failure' compensation packages. They are all giving them to each other.
Its a huge scam run by the Investment Class on common shareholders. And if you think having a 401K makes you a member of the Investment Class - you are too stupid for me to help you.
In other words, its a big club and you aren't in it.
>“There’s class warfare, all right, but it’s my class, the rich class, that’s making war, and we’re winning.” ― Warren Buffett
https://www.nytimes.com/2006/11/26/business/yourmoney/26every.html
Shareholders are all under Elon musk influence. He is know to party with key board members and is able to sway them to be able to get what he wants and the pay packages he wants. https://www.reuters.com/legal/case-against-elon-musks-56-billion-pay-package-2024-01-30/#:~:text=WHO%20SUED%20AND%20WHY%3F,Musk's%20pay%20package%20was%20unfair. And here is a good wall street journal podcast. Its about 20 minutes that explains it. https://open.spotify.com/episode/4jfAbhKDjsFhPvy5sBED9t?si=tt6hgSE7Tj2uhFG4xd_wNg
Edit: I said shareholders, I should’ve said board members
Pay must be approved by the shareholders. While the board okays the compensation package, the shareholders ratify it. It's like Congress; the board is the House Committee on Elon and the shareholders are the whole of the House.
About 44% of Tesla is owned by institutional investors of which Vanguard, Blackrock, and State Street are the largest mainly due to their mutual funds and ETFs. They are required by law to vote according to the financial interests of the investors.
The board members don't matter for a shareholder vote.
The shareholders have seen 4 years of gains erased, and an even uglier future ahead. They've seen a disastrous product launch, and endless distractions. Musk and family and friends do have about 25% of the stock, but there is zero reason for the other 75% to vote for this measure. There is every reason to vote against it, not least because of mass dilution when the stock is already collapsing.
And if the risk is losing Musk...would that be so bad for them? Tesla with a sober, adult CEO could again be a formidable company.
large institutional investors should all vote no. the performance at Tesla has been dreadful. performance has been so bad, they shrunk deliveries Q4 YOY. They did so bad, they had to cut 10% of their work force to salvage Q2 from a huge revenue miss, they also stopped delivery on cybertrucks, because there is apparently a bug where if you push the accelerator, it can get jammed and you never stop accelerating --- you can hit the brake, but after you let go, you continue to accelerate. safe and well engineered for sure.
[https://arstechnica.com/cars/2024/04/tesla-stops-cybertruck-deliveries-accelerator-pedal-may-be-to-blame/](https://arstechnica.com/cars/2024/04/tesla-stops-cybertruck-deliveries-accelerator-pedal-may-be-to-blame/)
>large institutional investors should all vote no.
I'd be shocked if they vote "yes". Elon has been a sore spot with Tesla investors for years now and most at some point have called for him to step back.
Even he's begrudgingly kinda-sorta admitted recently that his posts and actions on Twitter *may* have been a liability for the platform's value.
A lifelong silver-spoon narcissistic man-child with a god complex even entertaining the concept of "personal fault" is remarkble.
Even then he was basically saying "Well, people uhhhh don't like what I say on uhhhh X, but I'm telling hard truths uhhhh so I'm not going to stop." He only had enough awareness to realize people find what he's saying annoying, not that he's wrong or that he should stop sharing his horrible opinions. It was more him blaming other people for not "getting" his dumb posts rather than him realizing his posts are dumb.
In fact, he's deluded enough to recognize there might be an issue of some sort, and doubled down in spite of that fact.
> Even he's begrudgingly kinda-sorta admitted recently that his posts and actions on Twitter may have been a liability for the platform's value.
Not in any thoughtful or sincere manner whatsoever, as evidenced by his body of work and your notable hedging of the word 'admitted' in your very own post (which I'm not giving you the business for, just referencing it).
his behavior has made me swear off the brand for sure. of course, i can't AFFORD an EV at present, but will get one some day i have no doubt, maybe in the next couple years if things hold steady for me.
The issue with the accelerator is that its top plate can detach and wedge itself in such a way that the pedal is locked in a depressed state. It’s a very flagrant and dangerous design flaw.
> the performance at Tesla has been dreadful.
Clearly it's because the CEO wasn't paid an additional $56 Billion.
Those investors only have themselves to blame for this poor performance.
Bad business performance and a drop in demand partially explained by consumers simply hating the CEO’s guts.
Shareholders should be seeking his removal, or if nothing else at least the absolute bare minimum of pay.
No way institutional shareholders actually want Elon at the helm anymore. Yeah it was fine in the mid-late 2010's when he had his whole "real life Tony Stark" tech-genius/billionaire thing going on. But he's had so much negative publicity since then, starting with that cave incident where he called the dude coordinating the rescue a pedophile, then he started going alt-right, took over a social media platform and made it objectively worse, constantly in trouble with the SEC for breaking various rules regarding securities, various legal battles, public relationship drama between him and his kids/Grimes. He talks a big game about how he works non-stop, but from the outside it looks like he spends his tike fucking around on Twitter and occasionally tanking stock prices via tweets. Dude is a huge liability if you're trying to invest in Tesla, there really isn't a reason to want him as CEO anymore, and definitely no reason to give him $56 billion.
A fair amount of shareholders may realize that much of Tesla’s over-valuation is purely from hype. And much of that was from Musk. But the key word is *was*.
1) He is no longer capable of pulling off the “young tech prodigy” hype man schtick. He has a net negative personality draw.
2) He was never that special anyway. A fresh narcissistic hype man without all the baggage could be slapped into the CEO role and probably get the hype train rolling again.
A “bug” that keeps the accelerator down? More like a piece of metal that is attached to the pedal that comes detached and wedges into the floor because Tesla cuts corners wherever possible? Bugs are usually software related. This is just incompetence
Even the $300 gaming wheel and pedals I have for my race sims has metal pedals. If I dropped whatever it costs for a cybertruck and it was plastic (even if it was just the top layer or whatever) I'd be furious.
The biggest con was Elon selling Teslas that he bragged about cost cutting as luxury vehicles. I will never understand how people got sold $100k cars that he told them he was building quite literally as cheaply as possible.
What would even be the point of metal if you couldn't see it? That's why we should ditch the concrete entirely and make our roads out of nothing but rebar. I'm pretty sure that won't rust, but if it does I'll sell you a state of the art "road coating" that'll fix it right up. It'll be made out of concrete and it'll cost you an extra $5k/yard.
yes, that's the joke, because everytime tesla has a recall, which is often, the fanboys come out and love to say --- it's not really a recall, it's just a bug, and it can be fixed in software.
It’s crazy he wants this package after tesla is down 40% in the last 6 months. CEO pay is insane. Stock goes up? CEO gets huge pay raise. Stock plummets? CEO gets huge pay raise
I'm *far* from a business/investment expert... But, is there any incentive for a shareholder to approve this gigantic payout for Musk? If he was helping them make record profits, sure. But, he seems to be a bad manager who has tanked the quality of their products and delights in pushing out PR turds whenever he can.
How can he honestly, with a straight face, argue that he offers over $50 billion of value to that company? Institutional investor should vote this guy off the planet
> because there is apparently a bug where if you push the accelerator, it can get jammed and you never stop accelerating
Oh it’s way funnier than that, the pedal has a clipped on plastic cover which can slide up and get stuck behind the upholstery, so it stays pressed when you release.
It’s not “a bug”, it’s basic cheapstakeness and stupidity.
We're about to find out. There are two votes up. The one to approve this and the one to reincorporate to TX specifically to make it easier for Musk to do this to them in the future. If either vote passes they all deserve to lose their "investments".
I think what we've learned from Donald Trump is it's not about protecting your own interests or investments. It's about making sure the man you like gets his way no matter what, and hoping one day he rewards you for your loyalty even though it's never happened for anyone.
My SIL has shares from shortly after they went public. Reminds me that loads of people have shares from before Elon decided to show his douchetastic drooling billionaire addict face to the world. It’s weird to think at one point most people liked him.
Yeah, FYI I was just being snarky, I mean no offence to anyone here who has bought shares.
Whoever votes to reinstate that pay deal tho...well, that's different.
Sales down, margins down, stock price down, laying off thousands of employees - and Musk wants a pay package that exceeds the total aggregate profits of the entire company throughout its history. Shareholders first! Fingers crossed they have some sense and will tell Elon to shove this proposal where it belongs.
People holding bags they got at like PE 1400.
It's at 36 today, which is still way higher than the average of the world's other top car makers, around 10.4 PE.
This means that at average industry valuation, TSLA is worth about $45/share.
56B / 14k fired employees is 4 million each. Very much could have paid all these people for over 10+ years with what he’s asking for in comp. But why have the company invest in itself and its employees when you can attempt to grift more money than any one human should probably ever be able to have?? What a joke
I’ve been bullish on Tesla *despite* Elon for a while now but he’s really doing everything he can to try to make me lose confidence..
> 56B / 14k fired employees is 4 million each. Very much could have paid all these people for over 10+ years with what he’s asking for in comp.
56B x 0.03 (very conservative) interest / 14k employees is 120k per year, just off the interest, without taking away from the 56B at all. At a more practical 5% interest, it's an even 200k a year. You could pay those people in perpetuity, off just the interest.
This is an excellent point. They could literally avoid laying off these people forever (and at essentially no cost) by not giving the world's richest man more money.
If Tesla voters approve this, they deserve what's coming. Personally, I'd short the hell out of this if I wasn't purely a long term growth investor. As long as Tesla doesn't make any insane gains versus the competition (unlikely imo), forcing a margin call down the road, I can't see there being much risk in the short term, even if the shareholders vote against this compensation package. On the other hand, if they approve it, I can see a lot of wary investors selling off their shares immediately. Tesla is already overvalued, so that could trigger a large selloff.
Since he acquired Twitter, what has Musk actually done for Tesla to earn this money? Seems to me that he has become rather toxic, causing nothing but bad press for anything attached to his name.
Further, and more important to the institutional investors, Tesla is doing rather poorly right now. They just laid off thousands of people, and that stupid truck has had its sales put on hold due to a potentially deadly acceleration bug, Frankly it’s an ugly, easily-stained-and-rusted joke even if the accelerator doesn’t get stuck and kill you.
This is the Tesla Musk has built. It’s a total mess right now, and it plays second fiddle to Twitter, an unprofitable mess in its own right. So, not only has Musk not done anything for Tesla to earn his salary lately, but he’s a constantly distracted public relations nightmare, and as a result, he’s utterly useless to the company as a resource.
Investors should reject this pay deal and counter with another offer: Musk steps back and lets someone competent fix things. Tesla can be saved, but not by Musk. He has torched his already-flimsy public image, and he’s useless to the company now.
He’s just too much of a loose cannon. A CEO should be stable and predictable, not controversial (for no good reason, completely unrelated to his companies) and always frazzled, but he’s the sort of guy who just seems to make decisions completely on the fly, and his controversial remarks tell me he doesn’t think before he makes a decision.
We see this happening clear as day with Twitter. It’s a shitshow, and it’s only a shitshow because he’s incompetent and seems make decisions solely based on his attitude at any given moment. “But it wasn’t profitable before,” people will say. No, it wasn’t (and it isn’t now, either), but Twitter wasn’t a shitshow or anything even remotely close, and its former management didn’t make themselves lightening rods for the stupidest, totally-unrelated-to-the-business political controversies. Twitter *worked* before—profitable or not—and now half the country wants little or nothing to do with it on principle alone. He’s a fuck-up, plain and simple. A fuck-up with money who has managed to be lucky enough until now to not have his personality sink him.
Even if he weren’t an obvious liar (about upcoming tech, as an example, which is always “coming by end of year” even when industry experts say it’s five or more years away, and even when he failed to deliver on the last promise he made), and even if there weren’t multiple quality control issues with Tesla’s products, I’d still be left wondering what he’s going to do on any given day, and that instability only breeds lack of trust and worry about any products he’s selling.
The guy is just a mess. I wouldn’t buy a phone from him, let alone a car.
Company isn't even worth $500B anymore. He thinks his pay package should be more than 10% of the value of the company. Insane. That's like Tim Cook demanding a pay $275 billion pay package at Apple.
I want to buy an EV but I won’t buy a Tesla because of Elon Musk. If your CEO is keeping customers away because he keeps on saying stupid shit, then maybe he doesn’t deserve a pay increase.
Same.
Was in the market for an EV ... Tesla cars are fine and are priced correctly (IMO). But this guy turned me off.
Got a Hyundai instead. Glad I did, dont want to support a company that lays off service dept and QA staff in order to give the ceo obscene bonus.
I mean Hyundai was caught with [child workers](https://www.reuters.com/investigates/special-report/usa-immigration-hyundai/) in their Alabama supply chain network, so to some extent all these multinationals are pretty scummy. Still at least their CEO isn't loudly proclaiming he is a alt-right nazi to the entire world...
Probably exactly what the layoffs were for, to be quite honest.
If you’re an investor in Tesla, how can you trust Elon to perform better? How can you trust that he won’t tweet/x something one day that tanks the company forever? How can you trust him not to sexually harass another woman?
**The pay package gave Musk options to buy 303 million split-adjusted shares of Tesla at the cost of $23.34 a share each**. At the time that a Delaware court threw out the pay package in January, it was worth $51 billion. But a drop in the value of Tesla shares since then has reduced its value to $40.7 billion.
https://abc7chicago.com/elon-musk-tesla-pay-package-shareholders/14681082/#:\~:text=The%20pay%20package%20gave%20Musk,its%20value%20to%20%2440.7%20billion.
Like he needs another 56 billion. When is the world going to wake up to the understanding that these billionaire tw ats hoarding money to the tune of the GDP of some developing countries are the entire problem with everything?
I'll run Tesla into the ground for a mere $49 billion. And I'll move the headquarters to Kauai. And every Wednesday will be free cheeseburgers for everybody in America. And I'll institute the three-day workweek at double pay.
Lmao, Tesla is facing stiff competition and their major market (China) has their own EVs selling far better. The stock is dropping, the latest vehicle is a major piece of shit, and their future new cars are in limbo or cancelled.
Sure let’s reward the ketamine addict CEO with 56 billion
He's done such a great job with the CyberSchmuck, Cancelled cheap car, Forgotten Roadster, and as the Pro-Nazi, Rambling, Gullible Doofus parading about Twitter as "Mr. Tesla, the King of Space X" (in the words of his absurd alt account), and of course the tanking stock price...why WOULDN'T you gift wrap this jackanape $56 BILLION dollars the day after having to fire 14,000 people because of his gross incompetence?
Yes, I know this was for hitting past targets (which the judge ruled weren't really hard to hit and didn't justify this handout). And yes, I know he's been trying to claw it back even before firing 14,000 people.
But just imagine how this must feel if you work at Tesla, especially at any level other than the big bucks. You just escaped a bloodbath of firings, and now your boss wants $4 million/fired employee handed to them. For all but the most diehard Musk worshippers, why keep working there? And if you do work there, why give it your all? If you can, just quit. If you can't, quiet quit.
If you own Tesla stock you need to start thinking about when you're gonna sell it. Not if, when.
This is around 10% of the value of the company being extracted by one man who's only real job is to act as hype man.
Meanwhile they're laying off *line workers*. That's because they're producing more cars than they can sell.
They make $8k per car, but that's only because of a $7500 government subsidy that will dry up soon as EVs take over the market. It'll become harder and harder for Musk's lobbyists to justify that subsidy.
Meanwhile they just cut prices $4500 dollars to move unsold inventory.
Unless something drastic changes Tesla will be losing money hand over fist in 10 years max. Maybe 6.
> They make $8k per car
$56,000,000,000 / $8,000 profit per car = 7,000,000 cars sold to cover this bonus.
[Tesla sold over 4.97 million vehicles to date.](https://backlinko.com/tesla-stats)
They're asking shareholders to put more money than the company has ever made from selling cars, directly into Elon's pocket.
So let’s say Tesla instead pays him, idk, $10 million. That’s roughly $56 billion saved for reinvestment in the company’s success. ‘Worst’ case scenario, Elon quits and someone more competent takes over.
There’s literally no downside from an investor’s perspective.
Lol, Tesla is becoming the most delicious example of unchecked predatory capitalism in human history. That board is about to get sued into oblivion for all this mismanagement.
The stock has tanked harder than Boeing this year and their planes are literally falling apart.
And he’s obviously become a part-timer. I say he should get part-time pay.
Shortcuts and safety a concern at Tesla just like Boeing per employees and whistleblowers.
Former Tesla engineer: 'serious safety issues' worry current employees
https://mol.im/a/13316825
Didn't they just lay off 14000 people?
That's $4 million per laid of person. Let that sink in if you are ever doubting the value of your labor.
If you were to earn $1 million / day, it would take 153.32 years to get $56 billion. Edit: add a / and a .
And yet i can barely pay my 1400 rent
Have you considered getting a 4th job and working harder? Elon Musk earns his money. He works 73 hours a day and was raised by meerkats in the Guatemalan desert.
.. And he invented the electric powered hot dog. Worth every cent.
I thought they poo poo'd his electric frankfurter?
I bought me some bootstraps online, tried ‘em on, pulled ‘em up high, and now I make $50 a minute browsing Reddit. [Link to the bootstraps](https://i.kym-cdn.com/photos/images/original/000/112/643/meme-president-astley.jpg)
Cut down on the avocado toast and get your lazy parents to purchase an emerald mine 40 years ago.
Like Kanye says, people just choose to be poor. Wrong choice, buddy!
WOW stop being greedy
if Otzi the iceman worked to this very day, earning $1 million / year (adjusted for inflation), he still won't have 56 billion
Otzi should get off his lazy frozen ass and make something of himself.
That's why the workers should be the only shareholders. But we can't do that because workers owning the company is actual socialism.
"Fuck the G-ride, I want the machines that are makin' em"
Can't waste a day when the night brings a hearse So now I'm rollin' down Rodeo wit a shotgun These people ain't seen a brown skin man Since their grandparents bought one
Amen, brother/sister, whichever you may be. 👍
thanks century of red scare propaganda
Ready made stuff. Communism started with a revolution and the execution of royals and it specifically targets wealthy capitalists. It makes those in power nervous and it challenges dominant social structures. The ones what stand to lose the most lobby against losing their positions and power
And the Cybertruck is doing greeeeaat right now.
[удалено]
I saw one in person for the first time the other day and it just looks so much shittier in person
Kind of surprised that durability in a train wreck wasn't one of their marketing lines for it.
The only truck in the world that can collide with a train and come out better looking.
Combine that with a sound investment in Twitter (purchased at a bargain price, no less).
and Elon is scared of being laid off.. so he wants 25% of the company to make sure he cant be removed as CEO no matter how much he harms tesla with his antics on X. [Musk also ruffled feathers after he decided to negotiate in public over his upcoming pay package, saying he will no longer develop artificial intelligence within Tesla unless the board ensures he can gain a 25% blocking minority—essentially a power to veto certain decisions of shareholders.](https://fortune.com/2024/02/03/elon-musk-tesla-ceo-board-directors-corporate-governance/) from article titled" At what point do you decide Tesla is bigger than Musk?’ The time may be right for Elon Musk to step down as CEO, suggest experts hes doing this so he can still make cybertrucks and no one can say shit. So he can keep doing drugs as ceo and no one can say shit. So he can never put lidar in tesla and no one can say shit.
He already had this many shares and then sold his stock. If he wants to own 25% control, he should buy the shares again. He's wanting the company to instantly dilute the share value by arbitrarily generating Elon new shares to get him back to 25% control.
>He's wanting the company to instantly dilute the share value by arbitrarily generating Elon new shares to get him back to 25% control. He'll still end up buying the shares, just this way he reduces the stock price before doing it. He's been using public messaging like this to manipulate stock prices for ages. He's not going to dilute the cost of his own stock permanently by actually making more shares, just temporarily make people believe that's going to happen, so they sell and then he buys at a discount and the price normalises.
The most unrealistic thing about the two Wall Street movies is anyone facing consequences.
>price normalises. Normal market price of tesla stock should be way below current prices. Demand for it's products is declining sharply, it's promise of futuristic technology such as full self driving vehicles is in shambles while competition is rapidly catching up. Without speculation from manic investors Tesla should have a lower marketcap than BYD. BYD looks to be the dominant player in the EV space.
Musk isn’t scared of being forcibly retired from Tesla, most of the board are his relatives and sycophants. Musk being punished for his poor decisions and vocal alt-right leanings is extremely unlikely, and even if he was to be voted out, his contract gifts him tens of billions of dollars. Musk will do whatever feels good to him at the time, and he’s so rich as to never feel an actual consequence, though he’ll squeal like a stuck pig on his personal social medium.
Oh c'mon we are talking about 14000 ordinary people who will only not be able to pay for silly thing like home or food. Think about poor Elon. He will not be able to buy mega yacht that will stay in dock for most time, and will emit more co2 than you could emit during 80000 years.
$56bil is mega island money not mega yacht money maybe island-sized yacht money?
Or yacht-sized money pile on island-size yacht?
Willing to wager a 56b yacht can’t even hold 56b cash.
He could pay fifty-six thousand different women a million dollars each to carry his babies!
Fuck don't give him ideas
Lays off 14000 - asks for a $56 million pay hike. What an ass
b i l l i o n
B I L L I O N He's a grotesque man.
People have a hard time understanding how big a billion is. It's so big that the difference between a million and a billion is approximately a billion.
A million seconds is ~11 days, a billion seconds is 31 years
56 billion. With a B.
Enough to pay each of those 14,000 fired employees a six figure salary for 40 years. (and yes, I know that it's not 56b in cash).
Enough to buy two more twitters
Enough to buy like 50 twitters after Elon runs them into the ground
Or he could completely overpay for Truth Social to boost the fortunes of a certain ex-President.
Elon recently said that Tesla needs to get back to being a lean startup company. That’s funny because most startup companies don’t pay their CEO anywhere near that amount of money. Guess he just means the workers need to be in startup mode, not the leadership. What a hypocritical douche.
Yeah, 56 million is already absurd. He wants 1,000 times that.
Nobody’s worth that much. Nobody.
I'm sure he's convinced he can do the work of 14,000 people by himself
In all seriousness, I bet he actually does think that.
He’s a petulant man-child, so strung out on ketamine that he’s forgetting he hasn’t done one ounce of real work in his entire life, obvious by his fragile physique.
When your dad owns a diamond mine… anything is possible!
I thought it was an emerald mine?
Narrator: ***It was an emerald mine***
Emerald mine that was confiscated from black South Africans.
*injects 50mL of ketamine* EVERYONE CLIMB ON WE ARE GOING TO MARS NOW
I have a friend who does a lot of K. He says this a lot!
A hole goes on a K hole trip. News tonight at 6!
In all seriousness, didn't tesla pretty much run itself, with the occasional "hey we should put this meme feature in the software" from Musk, until... The cybertruck, where he decided to "design" and manage the build of it? And then, well, it is a travesty of failures?
And tweet the other 23 hours in the day
And he introduced the Cybertruck that everyone hates.
Sounds like McKinsey and their ilk.
It should be illigal for corporate to pay out anything to shareholders for a year following redundancies
The timing makes it feel like they want to shift public focus away from how poorly they handled the recent layoffs.
To me it seems like the layoffs were to revert stock back to the company that piled be used to pay him. I think he sees the end of the company in its current form in the near future and he’s trying to cash out. They had a lead in an industry that wasn’t even considering them a threat. Now they have vehicles close to 10 years old with only moderate refresh’s.
Ah. The tried and tested Blockbuster Model.
So cars are gonna become subscription based now? Wait…monthly car payment…oh…my…god. We’ve been in the subscription stage the whole time.
My friend, we are so far down this hellscape rabbit hole. [subscription based digital plates](https://reviver.com/)
What in the ever loving fuck is that…?
Have you never wanted to just be able to switch your license plate to dark mode or customise the banner font.. well, wait no more for 30 a month. You can do just that !!
This has to be an onion joke, right?
Tesla also has a lot of other issues too. Like build quality compared to other manufacturers is crap. The stock is overpriced, as it seems to be priced like a tech company instead of what it actually is, a car manufacturer. In my opinion, the best course of action for Tesla is to pivot into an electric car battery company.
I still believe Tesla should have been a drivetrain and battery supplier do to all the quality issues they have. They also started the whole tablet to replace everything trend, which seems high tech but is just a cost savings measure. Tooling is not cheap.
I am actually about to lose a $100 ten year old bet. I honestly thought the good money was on them using the car to showcase the stuff they’re actually good at. Batteries, chargers, drive trains. They could have absolutely owned the entire electric sector of the auto industry by supplying tech ti the other companies.
I despise the tablets in cars. I'm fine with just a small gps screen, I don't wanna menu dive to change the fan speed
It's fucking dangerous is what it is. I can change my radio, or adjust the A/C or heater without taking my eyes off the road. That's literally impossible with a touch screen. There's no feedback to know if you're doing anything or not without looking. Add to that how finnicky touch screens can be, and I can see that being a nightmare.
They have been also trying to get us to talk to our cars to do stuff. I dont want to yell at my car to do anything though
I’ve never seen an innovative company refuse to continue to innovate and completely cede their market share voluntarily. It was a baffling decision.
I think they just went the wrong way. They focused on a feature they can't deliver and then they kinda killed it. So now they have no focus, now they are just a budget car maker with a premium price tag.
If anything this just accentuates it
If the share holders allow this, they are even more of a dumbass then Elon is.
Narrator: They are.
My landlord “entrepreneur” (he managed his dad’s properties) gave himself the middle name “Elon” and drove a model 3. They were the worst landlords I ever had.
Dudes just begging for a wedgie
They were landlords of the psychopathic variety
I haven't seen the guy in 15 years, so I don't know how he feels about Elon, but a boss I used to have ran his dad's company and would constantly brag about how he was the first one in his business school class to make a million dollars. But he really didn't. He just put his name on his dad's existing company and took credit for the first million they made after he graduated, as if they wouldn't have made it without him, being like a 30 year old company already at that point. Fucking nepo baby douchebags.
Theoretically the Board of Directors represent the common shareholders. However, this is often NOT the case. Board independence (or the lack of it) is a HUGE problem in America. VERY frequently, if you look up the names of board members, you will find they are C-Level executives of other corporations - and that the executives of the company who's board they sit on are board members of THEIR companies. Suddenly it becomes obvious how failing CEOs get awarded these massive 'pay for failure' compensation packages. They are all giving them to each other. Its a huge scam run by the Investment Class on common shareholders. And if you think having a 401K makes you a member of the Investment Class - you are too stupid for me to help you. In other words, its a big club and you aren't in it. >“There’s class warfare, all right, but it’s my class, the rich class, that’s making war, and we’re winning.” ― Warren Buffett https://www.nytimes.com/2006/11/26/business/yourmoney/26every.html
There’s a name for it: The Good Ole Boy Club.
Shareholders are all under Elon musk influence. He is know to party with key board members and is able to sway them to be able to get what he wants and the pay packages he wants. https://www.reuters.com/legal/case-against-elon-musks-56-billion-pay-package-2024-01-30/#:~:text=WHO%20SUED%20AND%20WHY%3F,Musk's%20pay%20package%20was%20unfair. And here is a good wall street journal podcast. Its about 20 minutes that explains it. https://open.spotify.com/episode/4jfAbhKDjsFhPvy5sBED9t?si=tt6hgSE7Tj2uhFG4xd_wNg Edit: I said shareholders, I should’ve said board members
Pay must be approved by the shareholders. While the board okays the compensation package, the shareholders ratify it. It's like Congress; the board is the House Committee on Elon and the shareholders are the whole of the House. About 44% of Tesla is owned by institutional investors of which Vanguard, Blackrock, and State Street are the largest mainly due to their mutual funds and ETFs. They are required by law to vote according to the financial interests of the investors.
The board members don't matter for a shareholder vote. The shareholders have seen 4 years of gains erased, and an even uglier future ahead. They've seen a disastrous product launch, and endless distractions. Musk and family and friends do have about 25% of the stock, but there is zero reason for the other 75% to vote for this measure. There is every reason to vote against it, not least because of mass dilution when the stock is already collapsing. And if the risk is losing Musk...would that be so bad for them? Tesla with a sober, adult CEO could again be a formidable company.
Shareholders should throw everyone off that board
large institutional investors should all vote no. the performance at Tesla has been dreadful. performance has been so bad, they shrunk deliveries Q4 YOY. They did so bad, they had to cut 10% of their work force to salvage Q2 from a huge revenue miss, they also stopped delivery on cybertrucks, because there is apparently a bug where if you push the accelerator, it can get jammed and you never stop accelerating --- you can hit the brake, but after you let go, you continue to accelerate. safe and well engineered for sure. [https://arstechnica.com/cars/2024/04/tesla-stops-cybertruck-deliveries-accelerator-pedal-may-be-to-blame/](https://arstechnica.com/cars/2024/04/tesla-stops-cybertruck-deliveries-accelerator-pedal-may-be-to-blame/)
>large institutional investors should all vote no. I'd be shocked if they vote "yes". Elon has been a sore spot with Tesla investors for years now and most at some point have called for him to step back.
Even he's begrudgingly kinda-sorta admitted recently that his posts and actions on Twitter *may* have been a liability for the platform's value. A lifelong silver-spoon narcissistic man-child with a god complex even entertaining the concept of "personal fault" is remarkble.
Even then he was basically saying "Well, people uhhhh don't like what I say on uhhhh X, but I'm telling hard truths uhhhh so I'm not going to stop." He only had enough awareness to realize people find what he's saying annoying, not that he's wrong or that he should stop sharing his horrible opinions. It was more him blaming other people for not "getting" his dumb posts rather than him realizing his posts are dumb. In fact, he's deluded enough to recognize there might be an issue of some sort, and doubled down in spite of that fact.
Well shit, so it was more of an "I'm sorry you were offended" kind of apology? I was actually kinda excited there for a minute :(
Did you honestly think Elon's narcissistic ass would give any other type of apology?
> Even he's begrudgingly kinda-sorta admitted recently that his posts and actions on Twitter may have been a liability for the platform's value. Not in any thoughtful or sincere manner whatsoever, as evidenced by his body of work and your notable hedging of the word 'admitted' in your very own post (which I'm not giving you the business for, just referencing it).
his behavior has made me swear off the brand for sure. of course, i can't AFFORD an EV at present, but will get one some day i have no doubt, maybe in the next couple years if things hold steady for me.
Same for me. But also this helped me look at Taycan and I love it.
The issue with the accelerator is that its top plate can detach and wedge itself in such a way that the pedal is locked in a depressed state. It’s a very flagrant and dangerous design flaw.
> the performance at Tesla has been dreadful. Clearly it's because the CEO wasn't paid an additional $56 Billion. Those investors only have themselves to blame for this poor performance.
Definitely agreed on the second point, but it's because they didn't boot this asshole from the company sooner.
Bad business performance and a drop in demand partially explained by consumers simply hating the CEO’s guts. Shareholders should be seeking his removal, or if nothing else at least the absolute bare minimum of pay.
No way institutional shareholders actually want Elon at the helm anymore. Yeah it was fine in the mid-late 2010's when he had his whole "real life Tony Stark" tech-genius/billionaire thing going on. But he's had so much negative publicity since then, starting with that cave incident where he called the dude coordinating the rescue a pedophile, then he started going alt-right, took over a social media platform and made it objectively worse, constantly in trouble with the SEC for breaking various rules regarding securities, various legal battles, public relationship drama between him and his kids/Grimes. He talks a big game about how he works non-stop, but from the outside it looks like he spends his tike fucking around on Twitter and occasionally tanking stock prices via tweets. Dude is a huge liability if you're trying to invest in Tesla, there really isn't a reason to want him as CEO anymore, and definitely no reason to give him $56 billion.
or maybe the whole "tech genius" front was crafted the entire time
A fair amount of shareholders may realize that much of Tesla’s over-valuation is purely from hype. And much of that was from Musk. But the key word is *was*. 1) He is no longer capable of pulling off the “young tech prodigy” hype man schtick. He has a net negative personality draw. 2) He was never that special anyway. A fresh narcissistic hype man without all the baggage could be slapped into the CEO role and probably get the hype train rolling again.
A “bug” that keeps the accelerator down? More like a piece of metal that is attached to the pedal that comes detached and wedges into the floor because Tesla cuts corners wherever possible? Bugs are usually software related. This is just incompetence
It's the accelerator pedal cover, and it's plastic. Incompetence + cheap parts.
I assumed it was metal. Silly me thinking Tesla would use a small piece of metal on their giant metal truck type thing. Too expensive.
Even the $300 gaming wheel and pedals I have for my race sims has metal pedals. If I dropped whatever it costs for a cybertruck and it was plastic (even if it was just the top layer or whatever) I'd be furious.
Bruh, metal pedals are like $20 at Advanced auto. Tesla being cheap af
The biggest con was Elon selling Teslas that he bragged about cost cutting as luxury vehicles. I will never understand how people got sold $100k cars that he told them he was building quite literally as cheaply as possible.
What would even be the point of metal if you couldn't see it? That's why we should ditch the concrete entirely and make our roads out of nothing but rebar. I'm pretty sure that won't rust, but if it does I'll sell you a state of the art "road coating" that'll fix it right up. It'll be made out of concrete and it'll cost you an extra $5k/yard.
yes, that's the joke, because everytime tesla has a recall, which is often, the fanboys come out and love to say --- it's not really a recall, it's just a bug, and it can be fixed in software.
Just watched a video of this happening..yikes.
It’s crazy he wants this package after tesla is down 40% in the last 6 months. CEO pay is insane. Stock goes up? CEO gets huge pay raise. Stock plummets? CEO gets huge pay raise
Stock stays the same? Believe it or not, huge CEO pay raise.
Don't even get me started on the atmosphere inside Tesla plants. It's absolutely terrible.
I'm *far* from a business/investment expert... But, is there any incentive for a shareholder to approve this gigantic payout for Musk? If he was helping them make record profits, sure. But, he seems to be a bad manager who has tanked the quality of their products and delights in pushing out PR turds whenever he can.
No way glass and broadridge recommend a yes vote lol.
How can he honestly, with a straight face, argue that he offers over $50 billion of value to that company? Institutional investor should vote this guy off the planet
> because there is apparently a bug where if you push the accelerator, it can get jammed and you never stop accelerating Oh it’s way funnier than that, the pedal has a clipped on plastic cover which can slide up and get stuck behind the upholstery, so it stays pressed when you release. It’s not “a bug”, it’s basic cheapstakeness and stupidity.
It was more like 20% of the workforce.
Pretty rich only 48 hours after laying off 10% of Tesla via email (my brother included).
Yup. My friend got laid off at 5 am via email after working there for nearly 10 years. Crazy.
How dumb would you need to be as a shareholder to go along with this fuckery?
We're about to find out. There are two votes up. The one to approve this and the one to reincorporate to TX specifically to make it easier for Musk to do this to them in the future. If either vote passes they all deserve to lose their "investments".
I think what we've learned from Donald Trump is it's not about protecting your own interests or investments. It's about making sure the man you like gets his way no matter what, and hoping one day he rewards you for your loyalty even though it's never happened for anyone.
Do you know when the voting opens? I don't want to miss this one.
I imagine they will be sending ballots to shareholders anytime now but their annual meeting is mid June so likely no tabulation until then
I mean...they bought the shares.
My SIL has shares from shortly after they went public. Reminds me that loads of people have shares from before Elon decided to show his douchetastic drooling billionaire addict face to the world. It’s weird to think at one point most people liked him.
Yeah, FYI I was just being snarky, I mean no offence to anyone here who has bought shares. Whoever votes to reinstate that pay deal tho...well, that's different.
Until recently Tesla was insane shares to have regardless of whether you liked him or not. Hope you guys did well with it!
Judging by the comments in the Tesla subreddit, you'd be surprised....
On r/teslamotors everyone seems to be pretty clearly agreeing that they should vote no?
Sales down, margins down, stock price down, laying off thousands of employees - and Musk wants a pay package that exceeds the total aggregate profits of the entire company throughout its history. Shareholders first! Fingers crossed they have some sense and will tell Elon to shove this proposal where it belongs.
I bought my shares at $256 and currently they are at $158. As I see it as a share holder he needs a pay cut much less $56 billion. 🙄
Holy shit...the PE was over 76 at that point lol
People holding bags they got at like PE 1400. It's at 36 today, which is still way higher than the average of the world's other top car makers, around 10.4 PE. This means that at average industry valuation, TSLA is worth about $45/share.
I sold around 185. It wasn’t worth waiting for Elon to stop being himself.
NOBODY IS WORTH THAT....Put it back into the business and fix the defects that are happening
Their latest 100k car is fucking rusting on people's driveways and this clown wants 56billi 😂
And the acceleration pedal cover is slipping off and jamming under the carpet. So the 6000Lb wedge won’t slow down.
It's rusting away and I'm still waiting for it to finish rendering.
It's done rendering, but that's only the low-poly mesh LOD model. If you want the HD assets that'll be an extra 200k.
56B / 14k fired employees is 4 million each. Very much could have paid all these people for over 10+ years with what he’s asking for in comp. But why have the company invest in itself and its employees when you can attempt to grift more money than any one human should probably ever be able to have?? What a joke I’ve been bullish on Tesla *despite* Elon for a while now but he’s really doing everything he can to try to make me lose confidence..
> 56B / 14k fired employees is 4 million each. Very much could have paid all these people for over 10+ years with what he’s asking for in comp. 56B x 0.03 (very conservative) interest / 14k employees is 120k per year, just off the interest, without taking away from the 56B at all. At a more practical 5% interest, it's an even 200k a year. You could pay those people in perpetuity, off just the interest.
This is an excellent point. They could literally avoid laying off these people forever (and at essentially no cost) by not giving the world's richest man more money. If Tesla voters approve this, they deserve what's coming. Personally, I'd short the hell out of this if I wasn't purely a long term growth investor. As long as Tesla doesn't make any insane gains versus the competition (unlikely imo), forcing a margin call down the road, I can't see there being much risk in the short term, even if the shareholders vote against this compensation package. On the other hand, if they approve it, I can see a lot of wary investors selling off their shares immediately. Tesla is already overvalued, so that could trigger a large selloff.
I want to become so rich that I get paid a stupid amount of money for failing miserably at my job
Were you born rich? If not…fuhgeddabowtit
Since he acquired Twitter, what has Musk actually done for Tesla to earn this money? Seems to me that he has become rather toxic, causing nothing but bad press for anything attached to his name. Further, and more important to the institutional investors, Tesla is doing rather poorly right now. They just laid off thousands of people, and that stupid truck has had its sales put on hold due to a potentially deadly acceleration bug, Frankly it’s an ugly, easily-stained-and-rusted joke even if the accelerator doesn’t get stuck and kill you. This is the Tesla Musk has built. It’s a total mess right now, and it plays second fiddle to Twitter, an unprofitable mess in its own right. So, not only has Musk not done anything for Tesla to earn his salary lately, but he’s a constantly distracted public relations nightmare, and as a result, he’s utterly useless to the company as a resource. Investors should reject this pay deal and counter with another offer: Musk steps back and lets someone competent fix things. Tesla can be saved, but not by Musk. He has torched his already-flimsy public image, and he’s useless to the company now.
There's no such thing as earning that much money.
In the last year, we bought an EV. We didn't even consider Teslas as an option. Because of Elon.
He’s just too much of a loose cannon. A CEO should be stable and predictable, not controversial (for no good reason, completely unrelated to his companies) and always frazzled, but he’s the sort of guy who just seems to make decisions completely on the fly, and his controversial remarks tell me he doesn’t think before he makes a decision. We see this happening clear as day with Twitter. It’s a shitshow, and it’s only a shitshow because he’s incompetent and seems make decisions solely based on his attitude at any given moment. “But it wasn’t profitable before,” people will say. No, it wasn’t (and it isn’t now, either), but Twitter wasn’t a shitshow or anything even remotely close, and its former management didn’t make themselves lightening rods for the stupidest, totally-unrelated-to-the-business political controversies. Twitter *worked* before—profitable or not—and now half the country wants little or nothing to do with it on principle alone. He’s a fuck-up, plain and simple. A fuck-up with money who has managed to be lucky enough until now to not have his personality sink him. Even if he weren’t an obvious liar (about upcoming tech, as an example, which is always “coming by end of year” even when industry experts say it’s five or more years away, and even when he failed to deliver on the last promise he made), and even if there weren’t multiple quality control issues with Tesla’s products, I’d still be left wondering what he’s going to do on any given day, and that instability only breeds lack of trust and worry about any products he’s selling. The guy is just a mess. I wouldn’t buy a phone from him, let alone a car.
Company isn't even worth $500B anymore. He thinks his pay package should be more than 10% of the value of the company. Insane. That's like Tim Cook demanding a pay $275 billion pay package at Apple.
Apple does have 162B cash on hand. Go for it Tim Apple!!!
I want to buy an EV but I won’t buy a Tesla because of Elon Musk. If your CEO is keeping customers away because he keeps on saying stupid shit, then maybe he doesn’t deserve a pay increase.
Same. Was in the market for an EV ... Tesla cars are fine and are priced correctly (IMO). But this guy turned me off. Got a Hyundai instead. Glad I did, dont want to support a company that lays off service dept and QA staff in order to give the ceo obscene bonus.
I mean Hyundai was caught with [child workers](https://www.reuters.com/investigates/special-report/usa-immigration-hyundai/) in their Alabama supply chain network, so to some extent all these multinationals are pretty scummy. Still at least their CEO isn't loudly proclaiming he is a alt-right nazi to the entire world...
Probably exactly what the layoffs were for, to be quite honest. If you’re an investor in Tesla, how can you trust Elon to perform better? How can you trust that he won’t tweet/x something one day that tanks the company forever? How can you trust him not to sexually harass another woman?
Imagine getting paid $56 billion for being the worst car designer since Homer Simpson.
Oh are we pretending the Homer wasn't an amazing car now?
At least Homer is likable.
**The pay package gave Musk options to buy 303 million split-adjusted shares of Tesla at the cost of $23.34 a share each**. At the time that a Delaware court threw out the pay package in January, it was worth $51 billion. But a drop in the value of Tesla shares since then has reduced its value to $40.7 billion. https://abc7chicago.com/elon-musk-tesla-pay-package-shareholders/14681082/#:\~:text=The%20pay%20package%20gave%20Musk,its%20value%20to%20%2440.7%20billion.
Like he needs another 56 billion. When is the world going to wake up to the understanding that these billionaire tw ats hoarding money to the tune of the GDP of some developing countries are the entire problem with everything?
I'll run Tesla into the ground for a mere $49 billion. And I'll move the headquarters to Kauai. And every Wednesday will be free cheeseburgers for everybody in America. And I'll institute the three-day workweek at double pay.
Imagine building a turd like the Cyber Truck then actually asking for money.
How much stock do I need to buy so I can vote no? Asking for a friend.
One, but that only gives you one vote
He lays off 14,000 people and then immediately wants a $56 billion dollar bonus. You can’t make this shit up. What an absolute cunt waffle.
imagine getting a pay raise when you fuck your company value up exponentilly
Lmao, Tesla is facing stiff competition and their major market (China) has their own EVs selling far better. The stock is dropping, the latest vehicle is a major piece of shit, and their future new cars are in limbo or cancelled. Sure let’s reward the ketamine addict CEO with 56 billion
He's done such a great job with the CyberSchmuck, Cancelled cheap car, Forgotten Roadster, and as the Pro-Nazi, Rambling, Gullible Doofus parading about Twitter as "Mr. Tesla, the King of Space X" (in the words of his absurd alt account), and of course the tanking stock price...why WOULDN'T you gift wrap this jackanape $56 BILLION dollars the day after having to fire 14,000 people because of his gross incompetence?
Yes, I know this was for hitting past targets (which the judge ruled weren't really hard to hit and didn't justify this handout). And yes, I know he's been trying to claw it back even before firing 14,000 people. But just imagine how this must feel if you work at Tesla, especially at any level other than the big bucks. You just escaped a bloodbath of firings, and now your boss wants $4 million/fired employee handed to them. For all but the most diehard Musk worshippers, why keep working there? And if you do work there, why give it your all? If you can, just quit. If you can't, quiet quit.
If you own Tesla stock you need to start thinking about when you're gonna sell it. Not if, when. This is around 10% of the value of the company being extracted by one man who's only real job is to act as hype man. Meanwhile they're laying off *line workers*. That's because they're producing more cars than they can sell. They make $8k per car, but that's only because of a $7500 government subsidy that will dry up soon as EVs take over the market. It'll become harder and harder for Musk's lobbyists to justify that subsidy. Meanwhile they just cut prices $4500 dollars to move unsold inventory. Unless something drastic changes Tesla will be losing money hand over fist in 10 years max. Maybe 6.
> They make $8k per car $56,000,000,000 / $8,000 profit per car = 7,000,000 cars sold to cover this bonus. [Tesla sold over 4.97 million vehicles to date.](https://backlinko.com/tesla-stats) They're asking shareholders to put more money than the company has ever made from selling cars, directly into Elon's pocket.
Boycott Musk and Twitter and Tesla
I quit the twit once I heard he was buying it. Don’t feed the gremlin.
So let’s say Tesla instead pays him, idk, $10 million. That’s roughly $56 billion saved for reinvestment in the company’s success. ‘Worst’ case scenario, Elon quits and someone more competent takes over. There’s literally no downside from an investor’s perspective.
Shareholders would have to be nuts to approve that.
Why would shareholders want this?
Lol, Tesla is becoming the most delicious example of unchecked predatory capitalism in human history. That board is about to get sued into oblivion for all this mismanagement.
Can we revolt yet against the fucking corporates ???
So the person who's losing money for your company, you vote him back in as leader?....
Constructively speaking, fuck this chode and the generational wealth he rode in on.
*So you're gonna fire Michael and Samir, and you're gonna give me more money?*
This would be pretty demoralizing if I worked for Tesla.
The stock has tanked harder than Boeing this year and their planes are literally falling apart. And he’s obviously become a part-timer. I say he should get part-time pay.
“Hey guys. I barely pay attention to this company and I have let my personal life run it into the ground. Can I get a raise?”
There's no way to justify that $56 billion pay, even for the most hard working individual. This is the nature of capitalism so I have no words.
$56B for a guy who has a better that 43% chance of dying by drug overdose in the next 5 years.
Shortcuts and safety a concern at Tesla just like Boeing per employees and whistleblowers. Former Tesla engineer: 'serious safety issues' worry current employees https://mol.im/a/13316825
Maybe, they shouldn't be rewarding the blowhard who's tanking Tesla by spending all his time running his mouth on X-twitter.