Summary via ChatGPT
A Delaware judge invalidated Elon Musk’s $56 billion Tesla pay package for a second time, citing undue influence and unfair terms set by Musk. Despite shareholder approval earlier this year, the court ruled the process failed to address governance concerns and transparency. The judge emphasized the board’s failure to prove the compensation plan’s fairness, suggesting alternative, reasonable payment options were possible. Tesla may appeal the decision or propose a new compensation plan.
To put this pay into perspective, you could take it and give everyone in the US that is living in poverty around $1400. It wouldn’t necessarily save them from poverty, but such an amount would undoubtedly help over a million people in a dire situation.
Ah but they’ll just use it to buy drugs, or alcohol, or shelter, or food, or transportation when Elon musk will use it to buy something useful like another politician.
Some good news! I can’t believe that Tesla shareholders approved this when all Tesla indicators essentially form a giant mount of downward facing red arrows at that time.
It’s hard to believe that I was about to buy a Tesla just 8 years ago, and today I can not cringe when I see the brand. I hope someone does real market research on this, but the downfall of the company has been nothing short of fascinating.
That would be more than the entire market cap of Ford. Or VW, Honda, BMW, Hyundai, Stellantis, etc.
Truly preposterous.
People look at the number and nothing else.
Go back to when this pay package was crafted. The basic deal was, here’s a King’s ransom to do the impossible. Nobody ever thought that the performance targets required to trigger this payout were possible. Tesla achieved that. Elon and achieved that. And the stock continued to go up. Keep in mind, most of the money here is in stock not cash. So the 56 billion dollar number is only because the stock has continued to rise.
I say pay the man.
I’m glad your generation isn’t getting laid, I’d hate for there to be more dumbasses that need to justify why a billionaire needs more billions.
I say hang the man.
on a ceiling fan for fun until there’s a red streak across the wall in every direction, then make it a memorial to American workers.
His kind eats entire generations of wealth. He’s an enemy to you and everything prosperity stands for. If Trump wants to start ejecting immigrants, he can start with that one.
I’m not ‘justifying why a billionaire needs more billions’.
I’m saying that your personal opinion of Musk doesn’t fucking matter. Neither does mine. What matters is facts. You may think he’s an asshole, but if you can’t objectively recognize that he’s achieved a lot, if his current political misadventures must necessarily invalidate his past accomplishments and make him unworthy of any praise in your mind, then you’re a small minded fool blinded by your own hatred.
He’s an enemy to you and everything prosperity stands for.
Perhaps. But if it wasn’t for Tesla, electric cars would still be ‘10 years away’. Do you deny that?
How much profit would Tesla have to make on each car they ever sold to finance his package?
That’s a suspiciously close amount to the amount he borrowed to buy Twitter.
The replies on Twitter to Musk’s legal team complaining about this decision are equal parts hilarious and day-ruining. People are really cheering for this man to get ~55 billion dollars. Like, it hurts their actual feelings that he’s been denied such a payment, and they offer words of support to Musk like he’s doing a life sentence and has been denied DNA testing that would prove his innocence by a capricious judge who built her political career on the initial murder trial.
I hope they’re just bots. Bots expertly-programmed to annoy me specifically.
I can tell you first hand some are def real people. When I bring it up to this one friend they start to foam at the mouth and go on rants like they can’t control themselves.
