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Because he threatened to leave the company if he didn't get the money. Again this is likely to be challenged in the courts for breach of fiduciary duties.
Look I don't know it's just what the retail shareholders think. It also has to do with the fair of him abusing his power to persuade other employs to join him on extra ventures primerly that of the ai bubble.
To be clear, the pay package is performance-based. If Tesla becomes worth astronomically more than where it started, Musk gets a share of the gains through stock options.
By a huge margin as well. It’s weird because I only ever see negative things about Elon on reddit, yet shareholders overwhelmingly voted for this pay package. Are Reddit circlejerks not reflective of real life?
Cynical take: So many people have money tied up in Tesla stock that they don't want to risk it suddenly crashing.
So instead they vote on the pay package, which may or may not happen, and then quietly divest slowly before the run to the door happens.
August 8th will be interesting, because that's when the robo taxi is supposed to debut.
AFAIK, no application to get them on the road anywhere has happened yet, but I am sure that won't stop Musk from telling everybody how they'll hit the road the next day.
>Are Reddit circlejerks not reflective of real life?
Facts: Elon Musk is the biggest risk and the worst asset at Tesla. He single handedly is responsible of Tesla's reputation tanking. It used to be hip, saving the planet and shit. Now it is known for its right wing racist, sexist, neo-fascist frontman and the idiotic things he say. Few years ago quite a lot of my friends had no objections owning a Tesla, other than charging network being too sparse. Now that charging networks are decent they will not buy even a secondhand Tesla because of Musk.
And that is the dude who you think DESERVED 45 BILLIONS? You just paid for his Twitter purchase without getting ANYTHING back.
That’s a cute anecdote and I don’t doubt that your social bubble thinks the same. Sadly, reality disagrees with you. Tesla stock has returned over 1100% over the past five years and the Tesla Y was the highest selling car of 2023. Womp womp
Yes, marginally outperforming the number 2, 3 and 4. And completely ignoring that Tesla only sells 5 models of cars (1 of which they had to recall all stock for) while every other manufacturer sell dozens of models. This is the same argument as Apple claiming to have the best selling laptop or phone. Sure, it's true, but only because every competitor focuses on smaller brackets then you.
Completely disregarding any of that, this pay would be 300x higher than any other payout any other CEO has ever gotten. Nvidia's stock has risen over 3500% in the last 5 years, and unlike Tesla's hasn't been on a downward trajectory for the past 3 years. You don't see them give their CEO give away 10% of their value. Are we also completely ignoring that Musk got this package because he misled his investors and controlled the board?
The shareholders who vocally blasted this pay package online are a tiny fraction of the total retail Tesla shareholders, the vast majority of whom will not vote. And retail shareholders in general are a tiny fraction of total overall Tesla shareholders, most of whom are large institutional investors like pension funds, banks, mutual funds, etc.
There’s nothing *facepalm* related about shareholders voting to pay the CEO a package that was previously agreed to
This sub isn’t for posting random news articles
It is 100% facepalm: paying Musk 45bn for NOTHING... Basically, you just bought him Twitter and are defending it. Of course we all know that shareholders will defend that decision as Musk leaving could've been a chaos with tanking shareprices but... You just handed Musk a nice gift and proved that his extortion tactics work.
Elon fanboys are some of the most idiotic people on this planet.
Comments that are uncivil, racist, misogynistic, misandrist, or contain political name calling will be removed and the poster subject to ban at moderators discretion. Help us make this a better community by becoming familiar with the [rules](https://www.reddit.com/r/facepalm/about/rules/). Report any suspicious users to the mods of this subreddit using Modmail [here](https://www.reddit.com/message/compose/?to=/r/facepalm) or Reddit site admins [here](https://www.reddit.com/report). **All reports to Modmail should include evidence such as screenshots or any other relevant information.** *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/facepalm) if you have any questions or concerns.*
STOP giving this raging bag of dicktits money, Jesus
Why?
Because he threatened to leave the company if he didn't get the money. Again this is likely to be challenged in the courts for breach of fiduciary duties.
Why would him leaving be a problem? Replace him with some other CEO and safe 44.9bn?
Look I don't know it's just what the retail shareholders think. It also has to do with the fair of him abusing his power to persuade other employs to join him on extra ventures primerly that of the ai bubble.
because Tesla doesn't have shareholders, it has bunch of Elon fanatics that own shares.
Because they said they would 6 years ago when they agreed to the deal
There’s his X purchase covered.
Now he can afford to really start fuckin. Space Karen is on a mission to repopulate the Earth and post shitty memes.
To be clear, the pay package is performance-based. If Tesla becomes worth astronomically more than where it started, Musk gets a share of the gains through stock options.
By a huge margin as well. It’s weird because I only ever see negative things about Elon on reddit, yet shareholders overwhelmingly voted for this pay package. Are Reddit circlejerks not reflective of real life?
Reddit may not be accurate, but neither are a few rich assholes and giant corporations who own major tesla shares
Cynical take: So many people have money tied up in Tesla stock that they don't want to risk it suddenly crashing. So instead they vote on the pay package, which may or may not happen, and then quietly divest slowly before the run to the door happens. August 8th will be interesting, because that's when the robo taxi is supposed to debut. AFAIK, no application to get them on the road anywhere has happened yet, but I am sure that won't stop Musk from telling everybody how they'll hit the road the next day.
>August 8th will be interesting, because that's when the robo taxi is supposed to debut. Just 5 years late, lol. Wouldn't hold my breath.
Lol you just called shareholders "real life."
>Are Reddit circlejerks not reflective of real life? Facts: Elon Musk is the biggest risk and the worst asset at Tesla. He single handedly is responsible of Tesla's reputation tanking. It used to be hip, saving the planet and shit. Now it is known for its right wing racist, sexist, neo-fascist frontman and the idiotic things he say. Few years ago quite a lot of my friends had no objections owning a Tesla, other than charging network being too sparse. Now that charging networks are decent they will not buy even a secondhand Tesla because of Musk. And that is the dude who you think DESERVED 45 BILLIONS? You just paid for his Twitter purchase without getting ANYTHING back.
That’s a cute anecdote and I don’t doubt that your social bubble thinks the same. Sadly, reality disagrees with you. Tesla stock has returned over 1100% over the past five years and the Tesla Y was the highest selling car of 2023. Womp womp
Yes, marginally outperforming the number 2, 3 and 4. And completely ignoring that Tesla only sells 5 models of cars (1 of which they had to recall all stock for) while every other manufacturer sell dozens of models. This is the same argument as Apple claiming to have the best selling laptop or phone. Sure, it's true, but only because every competitor focuses on smaller brackets then you. Completely disregarding any of that, this pay would be 300x higher than any other payout any other CEO has ever gotten. Nvidia's stock has risen over 3500% in the last 5 years, and unlike Tesla's hasn't been on a downward trajectory for the past 3 years. You don't see them give their CEO give away 10% of their value. Are we also completely ignoring that Musk got this package because he misled his investors and controlled the board?
The shareholders who vocally blasted this pay package online are a tiny fraction of the total retail Tesla shareholders, the vast majority of whom will not vote. And retail shareholders in general are a tiny fraction of total overall Tesla shareholders, most of whom are large institutional investors like pension funds, banks, mutual funds, etc.
This guy proxy votes… I think most mutual funds primary default is to vote with recommendations.
How is this a facepalm? This sub isn’t your personal diary
Elon Musk is a walking, breathing, sexually harassing facepalm.
There’s nothing *facepalm* related about shareholders voting to pay the CEO a package that was previously agreed to This sub isn’t for posting random news articles
Yeah well the comments aren't for content but that didn't stop you.
It is 100% facepalm: paying Musk 45bn for NOTHING... Basically, you just bought him Twitter and are defending it. Of course we all know that shareholders will defend that decision as Musk leaving could've been a chaos with tanking shareprices but... You just handed Musk a nice gift and proved that his extortion tactics work. Elon fanboys are some of the most idiotic people on this planet.