Tesla Shareholders Approve Musk's $56 Billion Pay Package in Early Voting

What a complete joke that company is

according to a social media post by Musk himself

Very few in the comments seems to have noticed this pretty crucial part.
Let's wait and see the actual result.

Edit:

Ah well, they actually went ahead and did it. Good for Musk I guess, I doubt it's good for anybody else.

I'd love to hear from anyone at all who can give me a reason why the shareholders would vote for this. The stock value has been going down for both the 1 year and 3 year time frames, so he's not doing great things today. The company only made a profit of $18B last year, so this is like wiping out 3 years of profitability in one step. This package is over half of the company's total revenue!! In what world do investors think it's a good idea to say one guy deserves almost as much as the entire company brings in for a year?

Imagine if they had instead hired 500,000 people on $100,000 each. They could have bought the entire city of Detroit and had it making Teslas, instead they've got one coked up narcissist.

Insane. No one person should have, or deserve, 56 billion dollars. And especially this piece of shit.

How is this company still so valuable.

I would buy literally any other electric car than a Tesla.

Tesla "shareholders" clearly don't have the interests of their company in mind if they're approving a 56 billion dollar compensation package for their "CEO."

Wait...when did it go from 46 to 56?

And also...do the "shareholders" think this will improve the value of the company? Isn't it more than half of their revenue? Wouldn't this actually be a really bad thing for Tesla's value? Isn't Tesla one of the few EV producers with quickly dropping sales figures? Are the shareholders actually just Mlon Eusk? Enquiring minds want to know!

That's like, a million people's wages. Absurd.

The equivalent of 3+ years of tesla profits? Sounds totally reasonable and sustainable lmao.

When a dragon hoards the people's gold, the solution isn't to give it more gold.

I think I'd calculated this out to $34000 per unit sold last year.

That's nucking futs.

Then they are completely retarded idiots. I look forward to seeing them lose more money

The stupid shareholders are financing Musk’s Twitter-disaster.

Why would anyone need that much money.

What a farce.

This company is doomed lol. Fucking dimwits.

I def voted no with my three shares.

Dumber than a bag of wet bags.

Dumber than a box of rocks.

Stupid fucks must share in his assholian philosophy

Musk owns more than 20% of Tesla stock.

While some investors remained silent on their voting position, Tesla's largest shareholders, including Vanguard Group, BlackRock, and State Street, collectively holding roughly 17% of Tesla's stock, abstained from public comment. The full voting breakdown will be revealed during a Tesla shareholder meeting in Austin.

One, what an AI-written paragraph: "While some ... remained silent ... [others] abstained from public comment." Aren't those the same thing?

Two, this is all just a bunch of rich motherfuckers deciding how much of an insane amount of wealth to give to one of them. Where'd they get that money? Customers.

Imagine how competitive an electric car company could be if it wasn't just a front for shuffling vast sums of money around between people who already have more money than they could ever spend.

I mean you have to be pretty stupid to believe in Tesla at this point. When was the last time they came out with a new car? Not counting the Cyberrust.

Dumb fucks do dumb fuck thing.

Billionaires shouldn't exist... but it's ok since moving out of Delaware to Texas is going to destroy the company anyway.

Ketamine is a hell of a drug yo.

Mothergodfuckingdammit what is wrong with people

He's already tanked their credibility with normal people, keeping the musk fanclub onboard is all they have left.

At this point it may as well be a ritual sacrifice of money

"early" voting implies theres another round of voting. Correct?

Great thing to do when they have to fire people, because the company goes to shit.

What are the performance targets? And does the value of the package depend on share price?

A terrible choice by investors, but it is their money they are wasting and they are welcome to do so.

Let's hope it's hush money too.

Oh thank god /s

The primary purpose of a company is to make the shareholders happy if he's doing that then i guess what's there to complain about