Musk gets his money from Tesla, and somehow manages to control the company with his minority stake.
The stock holder confirmation of the insane bonus to Musk is evidence of that.
The other investors may be collateral damage. But that’s OK IMO, they support Elon Musk, otherwise they should have gotten out long ago.
But he doesn’t own Tesla. I was mainly trying to focus on that point.
Though as others have mentioned he gets his wealth from many other sources. Small sourceless point but capital accumulation rarely occurs from ownership in a single company.
Yes. They all bought into the same bubble. Even if they want to fire him as CEO, they’re afraid of the loss in case Musk sells off his stock.
The next board meeting will be interesting.
The problem is that he also has debt, a large part of which is secured by Tesla stock. If that stock took a nosedive to 10% of its previous value, the owners of said debt might come calling.
He doesn’t own Tesla. “Elon Musk Tesla CEO Elon Musk is the largest shareholder in Tesla. With over 410 million shares, Musk holds 12.8% of all Tesla shares.” https://www.investopedia.com/articles/insights/052616/top-4-tesla-shareholders-tsla.asp#%3A~%3Atext=and+State+Street.-%2CElon+Musk%2Cover+410+million+shares%2C+Musk+holds+12.8%25+of+all+Tesla+shares.%2C-4
Musk gets his money from Tesla, and somehow manages to control the company with his minority stake.
The stock holder confirmation of the insane bonus to Musk is evidence of that.
The other investors may be collateral damage. But that’s OK IMO, they support Elon Musk, otherwise they should have gotten out long ago.
The wealth from Tesla is what gives Musk power.
I should have included this but yes, there is a whole court case about this: https://corpgov.law.harvard.edu/2018/04/23/elon-musk-and-the-control-of-tesla/
But he doesn’t own Tesla. I was mainly trying to focus on that point.
Though as others have mentioned he gets his wealth from many other sources. Small sourceless point but capital accumulation rarely occurs from ownership in a single company.
All true.
… maybe his job as CEO at Tesla has something to do with that?
No I mean he controls the board too.
Yes. They all bought into the same bubble. Even if they want to fire him as CEO, they’re afraid of the loss in case Musk sells off his stock. The next board meeting will be interesting.
… I don’t think Musk is relying on tesla alone. He has money coming in from everywhere. Hence, all of his inspired businesses.
The problem is that he also has debt, a large part of which is secured by Tesla stock. If that stock took a nosedive to 10% of its previous value, the owners of said debt might come calling.
Lol yall love saying this about rich people you don’t like.
" BuT but aLl oF HiS DeBt!"
Yeah… it takes money to make money.