$1 trillion, lol
ISS said that while the board’s goal was to retain Musk because of his “track record and vision”, the 2025 pay package “locks in extraordinarily high pay opportunities over the next ten years” and “reduces the board’s ability to meaningfully adjust future pay levels.”
You’re gonna f*cking give it to him, aren’t you?
You know, when your CEO wants a TRILLION dollar compensation package, you should be using words like “unacceptable”, “ridiculous” and “insane” NOT “gosh, this is a real head-scratcher. How are we going to make this work?”
Company boards are a circle jerk, they’re gonna jerk musk off because he’s gonna return the favor.
One of the ironies of the trump-is-good-at-business people is that aside from mostly just exploiting people, he never even got close to the big leagues. He’s a double-A piece of shit who never made it in the minor leagues.
Elon didn’t make it either, but he was born into the majors.
Also “and how exactly to you propose that you’ll make us that much more than someone significantly cheaper”
I think they love musk and ceos like him. They’re like the dancing monkeys of the business. The CEO becomes the lightning rod for public outcry against the company and causes short term dips in stock value which allows the share holders to buy more stock. Government contracts go through and they make money as the stock bounces back. There’s other factors sure, but at the end of the day the share holders are still making money. They’re running on a different system than the rest of us.
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I wish we could get them in Canada, but we have to stand in solidarity with the country that has threatened to annex us, and steal what little auto manufacturing we have. Honestly stopping the electric car embargo would save us alot of headaches, like them refusing to buy our crops and other shit.
ISS said that while the board’s goal was to retain Musk because of his “track record and vision”
Wanna bet that Musk has kompromat on every single member of board of investors? How and why else would he want data from the government aside from training AI, and also still not being fired?
Truly sickening.
(The pay pack, not the push back)
This company is like Enron with a turd Reich leader. I doubt it will survive a crash. I’m sick of being told douchebag South African apartheid Nazis are “geniuses”. I hope this man goes bankrupt and then to prison.
Amen.
His last pay package faced pushback, too, and was still granted.
I don’t expect any less of this one.
I also don’t understand how this company is so overvalued when, as of late, it isn’t growing.
Market cap has absolutely nothing to do with reality. You can be a company with $100 in the bank and still have the whole company value be $50 according to Wall Street. Luckily this is a perfect system, and it can continue indefinitely without hurting anyone or breaking anything!
Yeah, I realize this, but what I don’t get is “why”.
Typically there are malicious players, a game to be won, etc. - why is Tesla propped up? I can’t figure out the reason.
Second thoughts here: TSLA is ascendant because Musk is emblematic of billionaires everywhere - deeply mediocre, undeserving, predatory, and absolutely confident that he’s the greatest fucker in the world.
It’s the new Business Plot basically - they chose their new stooges carefully this time, choosing men with absolutely zero moral fibre. Smedley Butler would never have gotten them this far.
There’s a lot of money to be made destroying companies. Sophisticated financial instruments like swaps, leveraged buyouts, and death spiral financing can be used to vampirically destroy publicly traded companies. You buy a controlling share using debt, install a bunch of overpaid C-suite execs who sell all their shares and hire overpaid consultants to tell them useless shit, meanwhile the fundamentals of the business erode, corporate media goes negative on command while your hedge fund buddies short the shit out of it. Sooner or later the whole thing goes bankrupt and private equity buzzards swoop in to snap up whatever value remains.
I haven’t had coffee yet so this is not an essay, only a mild rant. I’m not gonna die on any of these hills right now, it’s my day off.
If the company has negative revenue, that would make sense. Prices are somewhat forward looking. It’s not just a statement if physically held assets at that exact moment
I’ve seen this happen with a company that increasingly beat earnings (and is EPS positive) every quarter this year. Wall Street doesn’t care because it has already made up its mind what has to happen.
Sounds like a great investment opportunity.
Time will tell.
lol “investor pushback” must be the weakest description for what is probably a ton of people really pissed off.
Frankly, if the company you invested in does not give you dividends, then you are a fucking chump.
Frankly, if the company you invested in does not give you dividends, then you are a fucking chump.
That’s just not true. There are plenty of reasons why fast growing/expanding young companies shouldn’t pay dividends, if they have better opportunities to put capital to work (if you disagree with their assessment you sell the stock).
And even in mature companies dividends aren’t always good. Just look at Intel and Berkshire. Intel should have cut the dividend way sooner and is now in a worse spot because they didn’t. Berkshire on the other hand is by all accounts a healthy and well run company. If you want to take profits you just sell some stocks and if Berkshire thinks that price is to low they repurchase some of that stock.
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It might be interesting to create structures for more shareholder oversight over executive pay.
I’m probably far less concerned about executive pay in general than a number of people here, but my understanding is that in Musk’s case, there have been real questions about the board’s independence.
And Musk has had what I’d call some real errors. I am pretty skeptical about his high profile politicking being good for Tesla. Even if he wanted to support Trump, he certainly did not need to become the face of DOGE or be personally doing his $1m lotteries for voting. The Cybertruck flopped.
And he’s not doing Tesla as a full-time job. He’s also CEO, chairman, and CTO of SpaceX.
It’s also not clear to me that even if he can grow an early stage company, that he’s great at dealing with a mature one. Tesla has the largest market cap of any automaker in the world by a large margin. They aren’t a startup any more.
https://companiesmarketcap.com/automakers/largest-automakers-by-market-cap/
I’m dubious that Tesla couldn’t obtain a CEO who could do at least as effective a job for far less pay.
I’m dubious that Tesla couldn’t obtain a CEO who could do at least as effective a job for far less pay.
I reckon I could do that job more effectively than Musk, and I’m a fucking idiot with regards to business. I’d do it for a mere two million dollars a year.
I would agree. You could probably designate a chimp as CEO, make sure they are hidden away, and let the rest of the company operate as needed.
That’s effectively already how SpaceX manages to function, they (allegedly) have an entire team of people dedicated to distracting Musk with bullshit whenever he visits the office so that the actual engineers can work in peace without their CEO mandating stupid ideas.
They saw the “Human eyes don’t have LIDAR so Teslas don’t need them either” and said yeah, fuck that, we can’t allow him input here.
I’d do it for $100k a year, because it would remove Musk from power in that particular place and save people from harassment while I could comfortably live off the wage.
Don’t sell yourself short, my friend.
Thank you for your vote of confidence!
But nah, for those 1-3 hours daily that Musk can alot to that specific task, $100k per year would be ok for me.
Hell, I could do nothing and just let the engineers do their job and I’d be by orders of magnitude better than that lunatic.
And he’s not doing Tesla as a full-time job. He’s also CEO, chairman, and CTO of SpaceX.
Isn’t he supposedly operating six companies? Tesla, SpaceX, xAI, The Boring Company, Neuralink, and X?
Every time I hear some apologist for the extremist position of executive pay that we are operating under, I now think of this guy. In at least his case, it’s clearly a part-time job for one or more of these companies.
Oddly, most companies frown on the average worker doing any moonlighting. They want you exclusively working for one company, at least for white-collar jobs. Doesn’t seem to apply to executives, since it’s fairly common for them to also sit on the boards of other companies, even if it’s not common for them to be operating six companies…
What I find particularly problematic is the conflict of interest between Tesla and xAI, especially because Elon has a higher percentage of ownership of the latter.
It’s clear that Tesla is priced not as a car manufacturer, but as a technology company with high (arguably delusional) hopes towards self driving, compute and robotics. However that kind of seems like a natural area to expand into for xAI as well. So why should Elon do it at Tesla where he has less ownership?
Btw xAI acquired X, so one less company. From what I remember at the time the purchase felt like Elon taking advantage of other investors and getting a very favorable deal for himself due to the company evaluations, which increased his ownership stake in the combined company.
The company has to hit 10T 🥲 poor Elon thinks he can kick the can another 9T 🤣
Ah, I missed that earlier. Yeah, not going to happen.
Yeah I was mad until I saw that stipulation. The only way is if he merges xAI with Tesla and the bubble doesn’t pop for several years.
Off topic, but: Is Musk now going for dear leader‘s orange spray tan look?
No, that’s his signature Keta-tan
If you work hard enough you deserve it amiright?!
