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Tesla Shareholders Approve Musk's $56 Billion Pay Package in Early Voting
(www.ibtimes.co.uk)
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this post was submitted on 13 Jun 2024
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What a complete joke that company is
I'm glad to hear he won't "lose interest" in working now. I can't wait to see his next big plan after the industry dominating cyber truck.
Spoiler alert: it mostly involves shit-posting on Twitter and sexually harassing his employees.
I'll do that for them for the princely sum of $10 million. Bargain!
If you are looking to subcontract some of that workload, I only need 1 mil to talk shit online
I give dirty looks for $25k. Subcontract your subcontract.
For $10k, I will make vague sexual innuendos.
Idk, 56 billion buckaroos would instantly make me "lose interest" in working. Permanently.
It should eliminate your need to work, but Musk feeds on the attention and less so the money. There's not a thrill left he can't afford.
Running around and acting important is all he has left.
Hell, I'd permanently lose interest in working for a measly $55 billion.
Don't undervalue yourself
Approximately 4-6 million to live on the interest for the rest of my life. That's all it would take and I'm out forever.
I should ask my boss for $56 billion so I don't lose interest in working
He'll start a recycling company to recycle the shitty cyber trucks when they break down or when people get rid of them because they're shit.
Asking for another paycheck since they are so soft?
I could totally see Tesla reincorporation in Texas and then the board putting another pay package up for a vote out of spite.
I think if you read between the line, Tesla people aren’t just worried that he will stop working as hard for them, but also worried that he will flip and become an active detractor of theirs. Look at what he’s done with OpenAI. You can say he owns too many shares of Tesla but he could do quite a bit of damage to their stock price merely by selling them.
To be clear this isn't official results, this is what musk is projecting.
But the only think the big holders care about is their return rates. And they know Tesla is waaaaaaay overvalued. It's all based on hype.
So would Tesla be a better company free of musk?
Undoubtedly.
But they don't care about that. Musk hype drove the stock price up, no real company would be so overvalued. Without continued hype, the price goes down, which might cause a run on the stock and might end the company.
musk is Tesla. And it's why the company will be nothing but hype. Doesn't matter if the company loses money as long as stock price keeps going up.
Making quality vehicles isnt their business model, it's keeping the stock price up.
Yeah at this point it's a question of when the hype ends and it all comes tumbling down. There's nothing but investor sentiment holding the price where it's at.
Year over year revenue is down 50%, consistently for several quarters. Three missed quarterly estimates in a row.
The smart money is moving to catch the Nvidia bubble.
Exactly that.
With the current ceo, it's been hyped beyond value.
One day, the value will return to the actual value.
If the ceo is changed, it will happen pretty rapidly, then the company can grow from there.
If the ceo is not changed, the hype will continue until either a breaking point, or the ceo changing.
So the shareholders have voted for the thing that preserves the status quo a little longer. Road-runner as it is.
And the ceo seems to have managed to extract a large chunk of the current hype money, in exchange for not changing the status quo.
No but you see he is a visionary! A real life Tony Stark!! He'll do great things with that money like... Making ~~Twitter~~ X likes private for some reason...? I'm sure that cost a lot of money somehow /s
It has been cringe in the extreme to watch them debate whether they are giving their babyman chieftain enough billions to appease him.
Yeah that 500b company printing money and disrupting the entire transportation industry. What 👏 a 👏 joke 👏 lol.
They just gave a compensation package to their CEO that’s worth more than all the profit they’ve ever made. It’s absolutely a joke
If true, I wish I could give you more than my sad one up-vote.
Yeah they have like $30B all time profit, about half of which was last year though
Apparently it's now 444B, lol