635
Delaware judge strikes down Elon Musk's Tesla pay package for 2nd time
(www.businessinsider.com)
Fuck Musk.
this post was submitted on 02 Dec 2024
635 points (97.9% liked)
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You might get a free horse out of it if you do.
Why does he get to keep appealing if it's already been struck down twice? Fuck this guy.
Risk vs Reward.
A relatively small cost towards legal fees has a decent chance to yield a large payoff.
Musk is a warped gollum-man, but not an idiot by any means.
The man is one of the greatest idiots of this generation. There's just a bunch of really dumb impressionable people falling for his lies. Doesn't make him smart.
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He's a sociopath with absolutely no moral compass. This may have made him a great CEO, but it doesn't mean he's smart.
Different packages were struck down I think. The first he appealed and failed. So they approved another package this year and this is the result.
Imagine what $51 billion would do for the average Tesla employee if it were split up evenly amongst all employees. But yes, give this one guy more money than he can ever use in infinite lifetimes.
the 56b divvied up would be about 400k per employee (based on 2023 headcount from wiki). i think he's fired more than hired this year, so it'd be a bit more than that.
Life changing amounts of money. Instead he’s getting bragging rights to the 5 other people in the world like him.
127,000 USD.
Capitalism is a dream because you aren't the capitalist.
We just need a general rule: no company may offer more in compensation to any person than one hundred times the value the company paid in compensation to its lowest paid worker.
Add in words and details to make sure there aren't any loopholes, of course, and the problem will be largely solved across the board.
I think even that would have issues. The fix is easy. Tax the holy fuck out of any earnings over $10 million. You can take that payment away from your company, but it will do very little to benefit you.
The replies on Twitter to Musk's legal team complaining about this decision are equal parts hilarious and day-ruining. People are really cheering for this man to get ~55 billion dollars. Like, it hurts their actual feelings that he's been denied such a payment, and they offer words of support to Musk like he's doing a life sentence and has been denied DNA testing that would prove his innocence by a capricious judge who built her political career on the initial murder trial.
I hope they're just bots. Bots expertly-programmed to annoy me specifically.
I can tell you first hand some are def real people. When I bring it up to this one friend they start to foam at the mouth and go on rants like they can't control themselves.
Almost like these people read Ayn Rand and jerked off.
To, with, or in?
All three it's called the hat trick
I've been doing pool all wrong!
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Yes the trillionaire will be punished with a 32 Billion pay package instead
Oh no, how will he manage?
It truly is such a burden for him, but justice prevails
To be fair, I'm not sure 32 billion is enough to compensate for his inferiority complex.
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That would be more than the entire market cap of Ford. Or VW, Honda, BMW, Hyundai, Stellantis, etc.
Truly preposterous.
How much profit would Tesla have to make on each car they ever sold to finance his package?
They actually do generate enough revenue in a year. Ignoring business expenses ofc. That would be the 15b figure below. Elon is quite literally asking for an amount that would be comparable to liquidating all of tesla, selling off every scrap.
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i'll be tesla ceo for 0.1% (1/1000) of that. i couldn't possibly be worse than 1/1000th of an elon, or even 1/100th of one, so i'm the far better deal.
There are millions of random internet users that could do a better job than him. And most if not all of them would be willing to work for 0.01% of that. The guy is successful in spite of himself at this point.
line everybody up, take turns. ceo for five minutes then retire, collect $2.33 million paycheck, then the next guy is 'hired'.
To be fair all you have to do is publicly announce that you're going to focus on improving build quality and not shitposting and you'd already be a better CEO.
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That's a suspiciously close amount to the amount he borrowed to buy Twitter.
:p
However, McCormick in her latest ruling, wrote: "Even if a stockholder vote could have a ratifying effect, it could not do so here."
What, so the package the stockholders voted on was the original package already deemed illegal in court? And apparently because that deal was illegal, it can't be voted through by stockholders?
Am I getting this right? Because that seems incredibly stupid by the lawyers advising Trump and Tesla!
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May the next strike be with the guillotine 🙏
To put this pay into perspective, you could take it and give everyone in the US that is living in poverty around $1400. It wouldn't necessarily save them from poverty, but such an amount would undoubtedly help over a million people in a dire situation.
How un-Amercan if you, thinking about this stuff. /s
Anyway, I'm hungry, when do we eat?
Ah but they’ll just use it to buy drugs, or alcohol, or shelter, or food, or transportation when Elon musk will use it to buy something useful like another politician.
Or ketamine.
Some good news! I can't believe that Tesla shareholders approved this when all Tesla indicators essentially form a giant mount of downward facing red arrows at that time.
It's hard to believe that I was about to buy a Tesla just 8 years ago, and today I can not cringe when I see the brand. I hope someone does real market research on this, but the downfall of the company has been nothing short of fascinating.
Tesla doesn't pay dividends so the shareholders (the majority of which are Elon sycophants) lose nothing from approving this bonus.
It's a meme stock, nothing more
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