Tesla shareholder group opposes Musk’s $46B pay, slams board “dysfunction”
Tesla shareholder group opposes Musk’s $46B pay, slams board “dysfunction”
Letter urges shareholders to reject CEO pay plan and boot two board members.
Letter urges shareholders to reject CEO pay plan and boot two board members.
You're viewing a single thread.
He wants to cash out before Tesla will crash and burn. Predictions are that Tesla is bankrupt in 5 years.
His compensation package is tied to multiple variables in revenue and growth… and he can’t sell any earned shares for 5 years after earning them. This compensation package is how other businesses should operate to prevent artificially inflating value to get paid.
Although I disagree with anyone making billions of dollars, at least tying that to the performance of the business and handcuffing any stock sales to prevent a pump-and-dump is definitely a step in the right direction. Create real value or you shouldn’t earn anything.
This compensation is same amount as he owns Tesla now, so their idea is to let him sell his existing stock, which he has promised to not sell. He wants to cash out, like many Tesla executives, because they know that Tesla is in problems.
He owns his current stock and can sell the majority of it if he wants, without board approval. It doesn’t make sense for him to do that since it would sink the value of the stock and make any future stock much less valuable.
He is also trying to gain more control over Tesla’s future, so it wouldn’t make sense to sell shares that would dilute his ownership percentage.
Look, I get that Elon is a dick and people don’t like him or the fact that he has access to more money than anyone deserves, but Tesla is doing fine and starting to profit in the other areas of technology development that they’ve been innovating in. As much as it bucks the current narrative on Elon, he is still pushing the transition from a fossil fuel economy to an electric economy and is making strides in battery production, energy management, AI, robotics, and a half dozen other things that will provide the infrastructure of a better future.
When you run an entire system on capital being the greatest resource, you get dicks that rise to the top of that system. This dick is at least pushing for things that help society while he makes a profit.
For my 2 cents, I think he’s more bipolar than just a vanilla flavored, money grubbing asshole. I’m not a doctor or psychologist, though.
Bankcrupt in 5 years, I will reply to this when it happens.
People have been saying that for 21 years. Despite what media is pushing, Tesla’s financials are strong and their market share is increasing. Look at the numbers, not the hype (or any-hype, so it seems).