Tesla chair says Elon Musk needs $46 billion pay plan to stay motivated
Tesla chair says Elon Musk needs $46 billion pay plan to stay motivated
Musk could devote less time to Tesla if pay isn't re-approved, shareholders hear.
Just pointing out that Twitter is now worth less than the debt he took on to buy it, and yet he seems plenty motivated there.
He put up Tesla stock to finance Xitter, so I'm guessing these effing ridiculous demands for salary and bonus are his attempt to backtrack out of that debt. He must be hurting behind the scenes. OhNoAnyway.jpg ...
Even if he calls a factory-wide meeting, he's not going to get as many people laughing at his "humor" and telling him what a genius he is compared to Twitter.
And that's all he really cares about.
So yeah, he's very motivated to seek out attention from sycophants.
A motivated Elon produced the Cubertruck and replaced the Autonomous Driving ladar sensors with low resolution cameras. A motivated Elon turned Twitter into Xitter. I'm just saying that maybe you want to avoid a motivated Elon.
A motivated-Elon is why sales of Teslas are declining while other EV sales are up by double digits.
I stopped considering a Tesla because of him. His leaving would have to help sales a bit.
Honestly I wish he would 'leave' SpaceX too.
I caught his livestream for the latest Starship launch, and he literally introduced the event with a 10-minute speech on "saving your life" by buying crypto, and how they would match your crypto if you used his link or something. WTF was all that, and WTF did that have to do with SpaceX.--So that was a scam/fake video, but my top comment is still how I feel!Pump&Dump?
Musk bought into some shitcoin that crashed before he made profit, so even if he gives half away, the slight boost on price will let him dump the rest for less losses... Maybe?You are the victim of YouTube scam channels pretending to be SpaceX...
SpaceX no longer streams on YouTube anymore, so anything you see will be fake.
It's also disappointing YouTube is so bad at catching these. During IFT4 that was literally the most watched stream, had more viewers than Everyday Astronaut for example.
The problem is that Tesla is essentially just a pump and dump masquerading as a car company. Their market cap is simply absurd and based on nothing other than Musk's personality cult. If Musk leaves the company gor whatever reason, the stock will crash and the company will go bankrupt. They have an obscene amount of debt that is backed by Tesla stock, so once thier stock falls below a certain price, all thos loans will demand their loneu back
I'm willing to bet the payday is so he can get his money without selling the stock. If the stock is artificially inflated the balloon will pop eventually. He's at least smart enough to know that.
Same. I bought stock in it when it IPO'd because he made a good road map that his engineers could get to and they made great use of government funding. He largely just seemed like an awkward nerd. The Thai cave rescue was the instance where I thought there was something seriously wrong with the dude. He decided to have a sub built even though nobody asked him to and the thing did not fit. Then he called one of the rescuers a pedophile. And not just as an odd insult; he doubled down on the claim. Since then it just seems he has been continually seeking attention.
As for the company, their poor quality control was understandable 10 years ago but it's still pretty fucking bad and I honestly think he is a big part of that. I recall watching a documentary a long time ago where the producer was talking to Musk about some of the challenges of making the Roadster. They were in a warehouse that had a couple dozen that had been inspected. Musk looked at the notes on one and it had a pretty major issue that would likely pop up but he was going to ship it anyway. The producer looked at it and noticed that they were looking at the car that would be going to him. Musk very awkwardly backpedaled. It sends that willingness to overlook major flaws has not left.
I was interested in Tesla when it was first getting big. But lost interest fast due to him. I would say you couldn't pay me to own one, but if there's 46 billion just burning a hole in someone pocket, well fuck, for a billion dollars I'll be interested and for 2 billion I'll own it.
Are you telling me that Elon Musk might be, perhaps, quiet quitting? The horror.
Seriously, fuck that guy.
For a billion dollars I have a guaranteed plan to reduce operating expenses by 45 billion. Board of telsa feel free to hit up my DMs
This guy seems motivated. I'd hire them Tesla
I'll do it for half of that, and I'm pretty sure I have the same plan as the more expensive guy.
Couldn’t we just buy him a pizza lunch?
He's gotta share and the manager is buying it out of pocket so they're gonna cut some little Caesars slices in half.
Him not being involved is the best thing that could happen to them, it's a win-win.
Nobody wants to work any more
I'll do it for 45 billion.
I'll do it for 1 billion and would do a better job than musk rat.
Good thing Tesla has all that money rolling in from its wildly-successful Cybertruck debut.
It's funny, the world was excited for basically a teched out Toyota Tundra with shitloads of battery. The designers were ready to build that, and they could have kept literally everything else the same (steer by wire, steel skin, glass, bed cover, etc) and everyone would have been happy.
Even looking weird people were excited for it.
But then they deleted half the range and doubled the price and ::pikachu face:: everyone hates it.
Sure, musk was the reason it looks weird, but I'd be willing to bet he's 100% the reason for those other things too, because they likely had to cut weight and size to make it's weird look physical possible.
(I'd still buy it if it had 500+ range)
they could have kept
literallyeverything else the sameThe literal sense of what you're saying is implied since it's not a figure of speech or hyperbole.
I finally saw one of those in person yesterday. It looked like a Hummer fucked a DeLorean.
It reminded me of when Hummers were all the rage as a way to say, "look how much money I can piss away!"
Award for Person You Could Easily Sell a Bridge To goes to chairperson Robyn Denholm.
He seems motivated enough with Twitter and he makes negative money there. Considering the poster for he has created at Tesla, maybe they should not be motivating him.
I do love that the pay package was blocked by a metal head who owned like five shares.
Don't pay him. That's probably the best way to keep Tesla from dying.
I'd stay motivated for 1/2 that.
Ask for the full $42 billion, but be willing to settle for $21 billion.
I am guessing you could hire several hundred CEOs collectively for that price. And they would not be splitting their time between five companies. Robyn clearly had their nose so far up Musk's ass that it is difficult to figure out where one ends and the other begins.
A real life human centipede.
Stay motivated to what? Being a gigantic fucking douche?
What a whiney little bitch.
Well the ketamine sure isn't going to keep him motivated.
Where can I buy this Tesla chair
musk already purchased her...
Tesla Board Chairperson Robyn Denholm urged shareholders to re-approve CEO Elon Musk's $46 billion pay package this week, saying the vote is "not about the money" while suggesting that Musk could leave Tesla or devote less time to the company if he isn't properly compensated. "This is obviously not about the money. We all know Elon is one of the wealthiest people on the planet, and he would remain so even if Tesla were to renege on the commitment we made in 2018," Denholm wrote in a June 5 letter to shareholders. Musk's pay plan was nullified by a Delaware Court of Chancery ruling in January 2024 after a lawsuit filed by a shareholder. The ruling said that Denholm had a "lackadaisical approach to her oversight obligations" and "derived the vast majority of her wealth from her compensation as a Tesla director." It also said most board members "were beholden to Musk or had compromising conflicts," and that the proxy information given to shareholders before the 2018 vote was "materially deficient."
Too many folks here thinking they can appeal to the board with logic and reason...
Tesla Board Chairperson Robyn Denholm urged shareholders to re-approve CEO Elon Musk's $46 billion pay package this week, saying the vote is "not about the money" while suggesting that Musk could leave Tesla or devote less time to the company if he isn't properly compensated. "This is obviously not about the money. We all know Elon is one of the wealthiest people on the planet, and he would remain so even if Tesla were to renege on the commitment we made in 2018," Denholm wrote in a June 5 letter to shareholders. Musk's pay plan was nullified by a Delaware Court of Chancery ruling in January 2024 after a lawsuit filed by a shareholder. The ruling said that Denholm had a "lackadaisical approach to her oversight obligations" and "derived the vast majority of her wealth from her compensation as a Tesla director." It also said most board members "were beholden to Musk or had compromising conflicts," and that the proxy information given to shareholders before the 2018 vote was "materially deficient."
Rubber stamp, just looking for the right cover to allow them to do the wrong things.
Motivated to do what? Fuck up the company some more?
Me too bro
I thought that's what the Adderall was for?
What a shit show. Musk is cozying up to Trump - who has said he'd make Musk one of his top advisors and that he would ban EVs.
Musk was already on Trump's failed economic council. It makes sense from Musk's standpoint: do what you can to persuade the motion trying to kill your business.
But yes, Musk and Tesla in general are a shit show.
He is using Tesla as a piggy bank. Grifting money, employees and graphics cards.
Don't we all ... ? /s
Tesla I'll be motivated for 4.6 billion dollars. Hire me instead, save 40 billion dollars. I'll even replace the cybertruck with the "grootwagon", a wooden paneled stationwagon that floats on water (preventing pond drowning situations). Without gasoline wood exteriors on electric cars will work just fine.
Easy, tell him then the shares they want to give him cannot be sold immediately then, like 5 years of holding. But also include a section that says his current holdings must then also be tied to the new shares holding period, since he said he was first in and will be last out, should not be a problem and will be a great motivator.
Even £1 million would motivate me to never go back to work
Me 2
Can't he just sniff an other line of ketamine to be motivated?
You can like him or you can dislike him, both are valid positions for various reasons.
However the fact is, his huge compensation plan was at the time a wild shot that would only kick in if the company achieved certain performance metrics that were considered impossible. Under Elon, Tesla achieved all of them.
Whether he is the right person for Tesla or not in this moment is immaterial IMHO. What matters is the performance. Contract was a King's Ransom in exchange for an impossible miracle, and the miracle happened. So pay the man what he is owed.
Fire him after that if he's the wrong person to keep leading Tesla. But pay him what he is owed.
Sounds like you may prefer to lick him than to unlike him.
Lol I guess that's what I get for using voice typing
