Tesla is awarding CEO Elon Musk 96 million shares of restricted stock valued at approximately $29 billion, just six months after a judge ordered the company to revoke his massive pay package.
The electric vehicle maker said in a regulatory filing on Monday that Musk must first pay Tesla $23.34 per share of restricted stock that vests, which is equal to the exercise price per share of the 2018 pay package that was awarded to the company’s CEO.
“Hey, you know that asshole who tanked our brand? Let’s give him a ton of unearned money to stick around!”
Pretty reasonable when the board consists of your family and friends.
I’m also pretty certain that the stock would absolutely tank if he left.
He’s a fucking idiot, but the current valuation has zero basis in reality outside of his personality-cult. If that’s gone, all they are is a struggling mid-sized car company.
This proves that “free market capitalism” and “competition” is a scam. I’d be happy to fuck up a company that badly for a mere $15 billion. But they won’t even take my calls…
well you see, one of the stipulations for getting this much is doing a Seig heil. Which I am sure your moral conscience wouldn’t allow you to do. Or even if it did, I am sure there are a bunch of other criteria that is basically the inverse of whatever test for psychopathy they make people take at mental health institution that you must pass.
So be glad you’re not like him and don’t lament that he gets a bag of money.
It’s “free market capitalism” for you and me, bail outs and welfare for them.
If you work hard and keep your head down… 😭
if you work hard and keep your head down you will get cronic neck pain and fatigue because of course everybody sacrifices a good night’s sleep at the altar of hustle.
Was just thinking this morning how it’d been a week or two since I saw this dipshits face on here.
More money than any person should ever have
It’s a cult.
pats himself in the back good job buddy, you earned this.
I wonder if he can ingest 29 billion worth of ketamine in the next year?
I fucking wish he’d try. Just do it all in one night.
Proving the obsequious nature of Tesla’s board. Knowing that he is pulling them down, still too afraid of going another direction and incurring his wealth hoarding wrath. So instead reward him like a tythe to the mafia.
Shareholders should look at uber. It’s totally fine to change the leader.
Or Apple, Microsoft, or any of the companies that have been around for 100+ years. Look at John Deere, they are evil but people still buy their shit.
What a great use of their money! The free market always knows best! /s
I’m imaging them gathered around him singing “For He’s A Jolly Good Fellow” and raising their glasses to him, before presenting him with an oversized stock certificate
You had it half right they did gather around him, but each one of them sucked him off.
The meritocracy at work.
This stupidity aside, Tesla is falling behind, and they don’t seem willing to admit it.
Damn for a community so knowledgeable on tech, ya’ll sure got a lot to learn about stocks lol.
So this is a power move by the rest of the board member of Tesla. RSUs arent considered tangible assets by the IRS. Meaning Tesla will be forcing Elon to pay the full value of the shares as income tax the year they were vested.
Plus the company issuing the RSUs have a security blanket where a company can defer issuing shares until the vesting schedule is complete, which helps delay the dilution of its shares. On top of any scenario where the employee/person holding the RSUs leave the company before the conclusion of their vesting schedule, they forfeit the remaining shares to the company.
They’re usually used as incentive to keep employees at a company so here’s where I hit the logical brick wall… what fuckin incentive do they have to keep must around unless theyre just betting that captain adhd jumps ship before the stocks are vested.
I too would love to receive 29 billion dollars for running a company off a cliff but I’m not corrupt to the bone
Car makers, here’s your chance to prepare to take over the EV market when this meth lab finally explodes
They already are, Tesla’s sales are stagnating in a Growing market, their market share is disappearing.
Yeah, Ford has been trying to hype up an event coming next week. I assume it is going to be a new line of EV’s. They keep trying to call it a “model T moment.”.
I assume they’ll launch a smaller EV truck, small SUV, and hopefully an actual car. If Ford actually launches 3 EVs sub $30,000 before any kind of rebates it would be great. A 20,000EV would be better, but I just don’t see it happening with the lack of support or rather opposition our government has put forth.
”We believe the only way to compete effectively with the Chinese over the globe on EVs is to go and really push ourselves to radically re-engineer and transform our engineering supply chain and manufacturing process.”
before any kind of rebates
Someone correct me if I’m wrong, but I believe Trump did away with any EV incentives that may have existed.
As far as I can tell from test driving a handful of EVs, they’re not doing a very good job at it yet.
I’m on my second EV. My sister has an EV. My mother is getting an EV. A friend is on his second EV. A coworker has an EV. My ex and another friend have plug in hybrids and plan to move to EVs.
Not Tesla anywhere to be seen. None of us had ever even considered a Tesla.
As a Tesla owner I’d say that’s a good idea. After getting a Tesla it’s very difficult to move to an inferior model and due to obvious reasons I’d love to. So far everything else I’ve tried sucks in various subtle ways – usually in the way that the other manufacturers are obviously trying to make their EVs feel like legacy petrol cars instead of doing everything better like Tesla did.
It just feels incredibly awkward after getting used to a Tesla.
Perhaps Polestars will be good. I haven’t test driven those yet.
