The lawyers who killed Elon Musk's $56 billion Tesla payday want $370,000 per hour
The lawyers who killed Elon Musk's $56 billion Tesla payday want $370,000 per hour
That would come out to a record-setting $7.2 billion in legal fees
The legal team for the shareholder who sued to shut down Tesla CEO Elon Musk’s $56 billion pay package have upped their already record-breaking demands for compensation.
While multiple years salary per hour is an insane ask, it would take 73 years of work (assuming 40 hours a week and no vacations) to match the amount Musk wants.
This is why you shouldn't always obfuscate numbers.
$56,000,000,000
> $370,000
The difference between a billion dollars and a million is roughly a billion dollars.
And, hey, $7,000,000,000 to save $56,000,000,000 is a good deal.
But that 370k is per hour. I'm fairly certain they worked for more than an hour.
Hahahahaha
This is a shitty article. Does someone have the full story?
If the guy that initiated the lawsuit had only 9 shares, the decision was ultimately overturned when stockholders voted to reinstate Musk’s compensation package, and the lawsuit didn’t do any tangible thing to create value for the shareholders, why would anyone be on the hook for paying this firm’s legal bill other than the guy that initiated the lawsuit?
No one deserves to make the kind of money Musk is pulling down, but I can at least see an argument about him being in a leadership position at a company that is generating a lot of capital because that’s how our shitty system works. The lawyers are trying to have shareholders pay their fees based on present value of stock when they had no impact on how that stock got to that price, and Musk’s compensation package means the stock the lawyers are claiming to have saved from going to musk… are still going to Musk…
What am I missing?