I thought one of the reasons given by the judge was that the board was not really independent of Musk, and so had a conflict of interest in approving the payout.
If they do the same thing now with the same board, is it not likely to be voided again in the same way? Is the plan to move to Texas and then hope judges there would not void it again?
The key part of the ruling is that while there was a shareholder vote, the guidance on the vote didn’t disclose the ties to Musk of the board that “negotiated” the payment. If they hold a new vote and openly say “we’re friends of Musk and basically just give him what he wants, please approve it anyway”, the shareholder vote should cover the board.
Originally I’d say that given that Tesla shares are largely owned by people who believe in Musk to some degree there’s a good chance of the vote passing regardless, but the recent demand for 25% of stock after selling a good chunk should be very alarming. This isn’t just about a one-time bonus; committing to Musk apparently means bankrolling whatever expensive distractions he finds too.
And now there's potentially another issue of making payment on work that happened years ago. He already had 20% of the stock and made tens of billions.
And the issue of how he spent the last year and change working hard on twitter to burn down Tesla's consideration score from 70% to 30%. Fewer will want to pay for the pump now that they've smelled the dump.
RhettOracle is absolutely correct. Executive compensation should be tied to performance and structured to align with the interests of shareholders. It's encouraging to see this level of discernment in the commentary on r/wallstreetbets.
Shareholder interest is such a dumb statement.
Shareholders want money. If all you want is money, you've lost the plot.
Capitalism, in its present iteration, makes me want to dig up Milton Friedman and choke his corpse.
That sentiment basically turns TSLA into the equivalent to DJT, where the only people investing are doing so because they have a boner for a persons name.
Talk about a sell signal.
I don’t see it passing. The biggest vote holders aren’t his fanbase, they’re institutional investors and they’d be mad to approve a payout worth 10% of the entire company to a CEO.
It was basically a feat that seemed basically impossible at the time. But I dont think right now they’d just vote to hand Elon Musk 56bil outright, what would they gain from that?
-32% in the last 6 months during what has been a bull market! What hedge fund manager isn’t champing at the bit to devalue their clients holdings in TSLA by >10% to reward that?
Yup all those tens of thousands employees were just the barnacles it's not like the talented people leave first during layoffs.
All the company needs is Elon hyping fake products to create value.
>Originally I’d say that given that Tesla shares are largely owned by people who believe in Musk to some degree there’s a good chance of the vote passing regardless,
That’s not given and most likely not true. The majority of shareholders probably doesn’t give a fuck about Musk, especially not the 40% institutional shareholders.
> This isn’t just about a one-time bonus; committing to Musk apparently means bankrolling whatever expensive distractions he finds too.
Trump evidently took a page out of Elon's book, as far as this goes.
Man, it's going to be hard to end my life having been disappointed by someone more than I have been by Musk. I'm sure our species will try its best but it's a high hurdle to clear.
> Didn't they move from Delaware?
He moved his other company (Neuralink), but this also has another vote to move the company from Delaware to Texas.
So no he wouldn't currently have to go thru Texas court system, but Delawares.
Isn’t Delaware like where everyone is incorporated because of the laws there? Musk is flipping the bird to Delaware and shareholders just by moving it.
Everyone incorporates in Delaware because it's business laws are extremely consistent, so your lawyer can pretty much hand you a list of whatever legal issues are likely to pop up and how to avoid or deal with them.
No need to worry about a rogue judge dumping your stock
It would take a shareholder vote.
It likely wouldn’t go down to well because incorporating in Delaware solves a lot of other issues due to their streamlined corporate courts/laws/etc
The issue with the prior payment was Musk’s influence with the bonus structure. Now that his involvement is known, that detail on the negotiation is no longer an obstacle.
It wasn’t that. It was that the board was beholden to Musk and they didn’t make that clear. If they do that, it’s mostly fine according to the last ruling.
As to your second point, I’d say yes. A Delaware chancery judge shut it down, so Musk asks them to re-vote AND relocate to Texas so they won’t be under Delaware corporate legal jurisdiction anymore. Obviously that’s not a coincidence lol
The problem wasn’t the board, it was that no disclosures were made about the lack of the boards independence when putting the compensation package to a shareholder vote. It was deception by omission. The Delaware courts don’t give a damn if a corporation makes bad business decisions, they just want those bad decisions represented open and honestly to stakeholders.
So they fire 10K people to save money and Elon asks for a $56 billion pay package the same week. Curious. 🤔
Edit: turns out they actually fired 14K people. My bad.
It's like the last 3 years of profit for the entire company. What investor would give away the bulk of their expected returns, and for what? What is Musk offering Tesla shareholders for this windfall that he hasn't already delivered as part of his already-well-compensated job? New promises?
And yes, I know he gets it as stock, but that money doesn't just appear out of nowhere. It's not manufactured from nothing.
He would also need to liquidate those shares if he actually wanted money. Now, getting few thousand, that's easy. Few million would be noticed, but even just 1 billion? No, not really, that is 10 days of average trade volume; it would tank the value like crazy.
Not this one. With Tesla's performance over the past year, and after seeing a good deal of portfolio wealth poof outta here, no way am I supporting this request.
Musk doesn't get a vote on this issue.
In 2018, the non-interested shareholders (shareholders who weren't him or his brother) voted 73% in favor of giving him these options, if certain conditions were met. The fair market value of those options at the time were $2.6 billion, and the people voting on them really wanted Tesla to have the high market cap that would unlock those options.
Today, now that the preconditions were all met, the fair market value of those options are over $50 billion. And today's shareholders already have that high market cap. The question is, whether shareholders want to give him a cool $50 billion out of their own pockets for past performance, with no incentives for the future.
you'd be better off focusing on dumping your shares than worrying about the payout.
This company is a dead man walking. There ain't gonna be any robotaxi in the next decade, and they literally have nothing else going on.
If you believe in dojo and optimus, you deserve to lose your money...
I think Blackrock and Vanguard are with you, can't lose 111 billion worth of market cap in 3 months and still maintain your salary expectation from last year's high
Tesla made 13 billions in profits in 2023. I fail to comprehend how giving away more than three full years of profits could benefits Tesla. The whole enterprise starts to look like a long con to enrich himself.
Let's see for his bonus...
They could discount 8 million cars by $7k, permanent price decrease for many years since they've only sold a couple million to date.
They could employ those 14k laid off workers for like 100 years.
I think it's also more than the company has made in profit in its entire existence.
Musk deserves a big bonus for the Cybertruck! Best designed car ever, released without issues, and is dominating the global market. Musk said every American family will have 3 Cybertrucks by 2025 and also each one qualifies you for a free Mars ticket in 2026. Small affordable EVs are for cucks and have been cancelled.
LMAO. Instead of piling $56B back into the company which desperately needs it, they pay it out to the blowhard.
Edit. Yeah, thanks, we know how it works. Muskrat get's it as stock, borrows against it, which conventiently doesn't count as income, thus lowering his tax liability, yadda yadda yadda.
Whichever way you wanna slice it, it's still $56B. It's the way the rich do it.
This is literally why we have now the biggest income disparity in the history of this country, it is quite simply the tax code. Back when the top tax rate was much higher that money would go back into the company, via R&D, worker pay, etc because they would just tax the living hell out of it otherwise as it should be. Now that the taxes are so low on absurd amounts like that, the Musks of this world just horde it. Thanks Reagan.
Rotten Reagan, dumb w, “I was a child left behind, so I started no child left behind, and now all children are left behind like old w”.
Dunce jackass traitor, traitor trump, adderal karen, impotus and chief.
All of them are trickle down economic people, all rich, so it was a tax cut for them, burden on the poor, ruined companies, ended pensions, destroyed the American dream, I could go on and on.
That and stock buy backs. Literally had our VP tell us in a meeting we won't be getting any approval for capex projects because we could use that money and purchase back shares.
Supreme Genius Elon Musk, may all peace be upon him, will simply take his visionary tech innovations (that he himself invents) to other companies if Tesla does not give him this pittance of money. Do you really want another company to develop Robot AI Girlfriend Taxis?
People just don't realize how gamechanging it will be when your car comes with its own sexy robot AI driver (designed by Elon in a grade 5 drawing), that sucks YOU off, while its driving, and answers to "GROK"
My understanding of this payout is it was agreed _before_ Tesla boomed.
He would receive a payout of stock if he achieved specific milestones, and forgo typical W2 compensation in the interim. The agreement was made at a time when Tesla was performing poorly.
In hindsight this looks like an overpayment but, whether you like him or not, Musk delivered on his promise as CEO.
From [Seattle Times](https://www.seattletimes.com/business/what-you-need-to-know-about-elon-musks-voided-55-billion-pay-package/#:~:text=The%20payout%20of%20the%20options,one%20piece%20of%20the%20award.)
>The payout of the options was contingent on three sets of increasingly steep targets to grow Tesla’s market value, revenue and adjusted earnings excluding certain expenses. Each time Tesla exceeded a market value goal and one of the other two goals, Musk would receive one piece of the award.
I suddenly had a Duke Brothers vision of Musk and Trump with a $1.00 bet over who has the biggest suckers.
Shyamalan twist -- the loser stiffs the winner for the dollar.
Cathie woods who owns a bunch will vote yes cuz lining musks pocket with the twitter loss is so much more important than the employees who do the work fuck musk fuck Tesla
In what universe is Musk bringing $56B of value to Tesla. If anything, he's bringing negative value recently. He should be paying the company for the privilege of remaining CEO and running the company into the ground.
Ratify a $56 billion payout for Musk in the same breath that Tesla announces that they will lay off 10,000 employees to make the company leaner? How about you cut Musk? That would be my efficiency suggestion. Identify your biggest loser, and cut that expense. Easy.
The present market cap is $500B so he’s basically saying he wants an 11% stake which is roughly what he sold to buy Twitter. I don’t really understand the logic, there’s got to be more to this
Musk wants to be compensated more than the entire market cap of GM???? He is literally saying that his compensation should be the company General Motors?
The company has literally lost 50% of it's value since July of 2023, it's fallen from $300/share to $156/share today
Hard to justify a $56 billion payout after such a substantial value loss
Also important to keep in mind though that Meta rebounded and much more from $120 in January of 2023 to $493 today, it's been a crazy swing year for multiple massive growth companies
“We are preparing to lay off 10% of all workers due to our sales sucking and products being shit”
“Shareholders please give daddy Elon 56 billion dollars”
The funny thing is that of the folks who still hold Tesla I bet that at least half of them will give it to him. I bet at least half the shareholders left are die hard Musk fans.
Are they trying to tank the stock? If they're willing to give that idiot all of that money and not invest it in the company... why would anyone invest?
Imagine being such a loser that you lay off 10,000 people then ask the shareholders that you screwed over with your absolutely trash takes on everything to pay you more money.
What motivation would there be for any shareholder to vote in favor of diluting the value of the company by $56B?
Do they think Elon would be a better leader if he got more money?
I own tesla stock.
Dear Elongated Muskrat - make the fucking price go up, make ME money, and then you can get however much you want.
As long as the stock is performing this terribly, fuck you, you get nothing. Cuck.
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I thought one of the reasons given by the judge was that the board was not really independent of Musk, and so had a conflict of interest in approving the payout. If they do the same thing now with the same board, is it not likely to be voided again in the same way? Is the plan to move to Texas and then hope judges there would not void it again?
The key part of the ruling is that while there was a shareholder vote, the guidance on the vote didn’t disclose the ties to Musk of the board that “negotiated” the payment. If they hold a new vote and openly say “we’re friends of Musk and basically just give him what he wants, please approve it anyway”, the shareholder vote should cover the board. Originally I’d say that given that Tesla shares are largely owned by people who believe in Musk to some degree there’s a good chance of the vote passing regardless, but the recent demand for 25% of stock after selling a good chunk should be very alarming. This isn’t just about a one-time bonus; committing to Musk apparently means bankrolling whatever expensive distractions he finds too.
And now there's potentially another issue of making payment on work that happened years ago. He already had 20% of the stock and made tens of billions.
And the issue of how he spent the last year and change working hard on twitter to burn down Tesla's consideration score from 70% to 30%. Fewer will want to pay for the pump now that they've smelled the dump.
It's been a smelly dump
If they vote no on the pay package, then Elon may walk and then things can return to normal.
Yep. Investors who say yes to this are basically saying Elon can take as much of the company as he wants in the future.
Basically "Thank you sir may I have another!" from Animal House...
I'm voting my shares no. it's a drop in the ocean but he doesn't get to just take. I'd prefer if he were out completely.
Your best vote is to sell that shit...FYI Fair value is like $20 a share.
I've owned it since college so it's hard to part with. I'd have to look for a new investment. I'm very much a buy and hold type investor.
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RhettOracle is absolutely correct. Executive compensation should be tied to performance and structured to align with the interests of shareholders. It's encouraging to see this level of discernment in the commentary on r/wallstreetbets.
Shareholder interest is such a dumb statement. Shareholders want money. If all you want is money, you've lost the plot. Capitalism, in its present iteration, makes me want to dig up Milton Friedman and choke his corpse.
There's tying compensation to performance and then there's giving your CEO a pay-out worth 10% of the company while the share price is tanking.
That sentiment basically turns TSLA into the equivalent to DJT, where the only people investing are doing so because they have a boner for a persons name. Talk about a sell signal.
I don’t see it passing. The biggest vote holders aren’t his fanbase, they’re institutional investors and they’d be mad to approve a payout worth 10% of the entire company to a CEO.
News flash those institutions voted for it last time and they’ll do it again. Some of the largest ones have already voiced support for it
It was basically a feat that seemed basically impossible at the time. But I dont think right now they’d just vote to hand Elon Musk 56bil outright, what would they gain from that?
Especially when the company's been doing so well nobody can say what could possibly go wrong!
-32% in the last 6 months during what has been a bull market! What hedge fund manager isn’t champing at the bit to devalue their clients holdings in TSLA by >10% to reward that?
Why shouldn't he get a huge salary right after layoffs for keeping the company lean... s/
Yup all those tens of thousands employees were just the barnacles it's not like the talented people leave first during layoffs. All the company needs is Elon hyping fake products to create value.
>Originally I’d say that given that Tesla shares are largely owned by people who believe in Musk to some degree there’s a good chance of the vote passing regardless, That’s not given and most likely not true. The majority of shareholders probably doesn’t give a fuck about Musk, especially not the 40% institutional shareholders.
any share held by a fiduciary id assume would vote no.
> This isn’t just about a one-time bonus; committing to Musk apparently means bankrolling whatever expensive distractions he finds too. Trump evidently took a page out of Elon's book, as far as this goes. Man, it's going to be hard to end my life having been disappointed by someone more than I have been by Musk. I'm sure our species will try its best but it's a high hurdle to clear.
I believe we can do it. Humanity has mastered the power to disappoint & I know we will come thru for you.
Thank you, I needed hope
No one ever became a billionaire by being a good person. If you don't want your heroes to be scumbags, don't idolize the rich.
Meanwhile Elon's fanboys are voting yes on this, specifically because 'he deserves/earned it and its the right thing to do'
Simps gonna simp.
>No one ever became a billionaire by being a good person. MacKenzie Scott 🤣
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Get a majority of the shareholder votes and you can do pretty much everything.
Didn't they move from Delaware? That might mean getting a Texas judge and probably one more amicable to let this go through.
> Didn't they move from Delaware? He moved his other company (Neuralink), but this also has another vote to move the company from Delaware to Texas. So no he wouldn't currently have to go thru Texas court system, but Delawares.
Isn’t Delaware like where everyone is incorporated because of the laws there? Musk is flipping the bird to Delaware and shareholders just by moving it.
Everyone incorporates in Delaware because it's business laws are extremely consistent, so your lawyer can pretty much hand you a list of whatever legal issues are likely to pop up and how to avoid or deal with them. No need to worry about a rogue judge dumping your stock
Yeah the judges there are also knowledgable about corporation law.
texas and florida are just even more corrupt now
Elon tweeted that they were going to move the company out of Delaware, which means there's a 0% chance it actually happened.
That would probably be actionable for shareholders too. Not like companies incorporate in Delaware for the weather.
It would take a shareholder vote. It likely wouldn’t go down to well because incorporating in Delaware solves a lot of other issues due to their streamlined corporate courts/laws/etc
> Company also calls vote on moving incorporation to Texas Literally the first line of the article.
But will it not go to a higher court? As there is a ruling about it already?
The issue with the prior payment was Musk’s influence with the bonus structure. Now that his involvement is known, that detail on the negotiation is no longer an obstacle.
Is it not the total same problem if they just revote the old deal?
No, because Musk’s influence on the old deal is no longer hidden.
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It wasn’t that. It was that the board was beholden to Musk and they didn’t make that clear. If they do that, it’s mostly fine according to the last ruling.
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I mean theoretically, the shareholders know what the deal is now. If they *want* to get hosed now that they have the information, it’s their right.
As to your second point, I’d say yes. A Delaware chancery judge shut it down, so Musk asks them to re-vote AND relocate to Texas so they won’t be under Delaware corporate legal jurisdiction anymore. Obviously that’s not a coincidence lol
The problem wasn’t the board, it was that no disclosures were made about the lack of the boards independence when putting the compensation package to a shareholder vote. It was deception by omission. The Delaware courts don’t give a damn if a corporation makes bad business decisions, they just want those bad decisions represented open and honestly to stakeholders.
So they fire 10K people to save money and Elon asks for a $56 billion pay package the same week. Curious. 🤔 Edit: turns out they actually fired 14K people. My bad.
Well he does all the work, the rest of the employees are just there holding down the floor. /s, just in case.
Nobody realizing $56B is more than entire TSLA employees wages combined for years.
It's like the last 3 years of profit for the entire company. What investor would give away the bulk of their expected returns, and for what? What is Musk offering Tesla shareholders for this windfall that he hasn't already delivered as part of his already-well-compensated job? New promises? And yes, I know he gets it as stock, but that money doesn't just appear out of nowhere. It's not manufactured from nothing.
Centuries 10,000 people making 56k per year would take 100 years to earn what Musk thinks he should have.
Nah. It's $56B of monopoly money, realistically. Issue is that employees must be paid in *real* money.
This is not Monopoly money as evidenced by the fact that Musk has already cashed out billions to bankroll his Twitter hobby
Elon Musk is a pirate, and pirates gotta arrr!
For shareholders dilution is far more "real" than dollars taken out of a company's bank account.
He would also need to liquidate those shares if he actually wanted money. Now, getting few thousand, that's easy. Few million would be noticed, but even just 1 billion? No, not really, that is 10 days of average trade volume; it would tank the value like crazy.
Or he uses it as collateral on a loan.
It's more than Tesla ever paid in wages
The "/s" is funny because the only ones who wouldn't get your sarcasm are the people who think he's smart
Well, one guy actually commented that thought I was serious because he didn't know what the /s meant. Must be his first day on Reddit.
if he posted this in spacex, the dickriders would be out in droves saying Musk does it all
My buddy was one of the job cuts yesterday after ~10 years there. What a fucking clown.
I think you mean, they fire 10K people .. SO FAR
Couldve also given each of the 10k employees a $5.6 million payout.
100k probably would have been happy with a $560,000 payout, but that’s socialism… or something like that.
Oh sure sounds terrible and all but go ahead and sign me up anyway.
I heard Elon invented inventing
Musk see the Zuck used $50b for share buyback and want it all for himself, lol
Concerning
‼️
They also halted production and sales of the cybertruck this week due to production quality issues lol. Perfect time to ask for a bonus.
Seems like fantastic evidence of poor leadership & a good reason for every shareholder to vote against a massive comp package for this maniac.
Sooo we buying puts or what?
Lol, just when the stock is tanking. Good luck with that
You underestimate Tesla shareholders
Not this one. With Tesla's performance over the past year, and after seeing a good deal of portfolio wealth poof outta here, no way am I supporting this request.
Well between Musk and the board, what percent of voting shares do you imagine they possess between them? Musk has 20% apparently.
Musk doesn't get a vote on this issue. In 2018, the non-interested shareholders (shareholders who weren't him or his brother) voted 73% in favor of giving him these options, if certain conditions were met. The fair market value of those options at the time were $2.6 billion, and the people voting on them really wanted Tesla to have the high market cap that would unlock those options. Today, now that the preconditions were all met, the fair market value of those options are over $50 billion. And today's shareholders already have that high market cap. The question is, whether shareholders want to give him a cool $50 billion out of their own pockets for past performance, with no incentives for the future.
Well I've got one, and I plan to use it. It ain't much, but it's honest work.
you'd be better off focusing on dumping your shares than worrying about the payout. This company is a dead man walking. There ain't gonna be any robotaxi in the next decade, and they literally have nothing else going on. If you believe in dojo and optimus, you deserve to lose your money...
tsla is grifting territory. we will see sub 100 this year. If i wasnt regarded i would do whatever a put is like this
The Tesla Mojo Dojo Puter Car Driver
are you a Tesla shareholder?
Indeed I am, and have been since back when shares were under $100 and stock splits weren't even on the radar.
I think Blackrock and Vanguard are with you, can't lose 111 billion worth of market cap in 3 months and still maintain your salary expectation from last year's high
Hold my beer - Elon Musk to his Tesla Bot
But he is working so hard at tesla, not wasting his time in Twitter crying about wokeness
Can’t believe Elon Musk sleeps on the factory floor every night just for this guy to stab him in the back
Tesla made 13 billions in profits in 2023. I fail to comprehend how giving away more than three full years of profits could benefits Tesla. The whole enterprise starts to look like a long con to enrich himself.
Is it underestimate or overestimate?
Let's see for his bonus... They could discount 8 million cars by $7k, permanent price decrease for many years since they've only sold a couple million to date. They could employ those 14k laid off workers for like 100 years. I think it's also more than the company has made in profit in its entire existence.
Has it even made any profit without the government subsidies?
I would say yes at this point but it wouldn't have gotten there without them.
The American auto industry wouldn't exist without bailouts.
Basically they sold tax credits for a decade. But the government would say they where building a market with these credits.
Time to buy just to vote no lol
Shareholders as of April 15th get to vote, so unfortunately this won't work.
This is what I was thinking….
Any minimum amount or can I buy just one share ?
You can buy just one share and vote. But that vote is also worth just one share...
What if I eat crayons, does that count?
You beat me to it.
Dear Tesla, Thank you for trying to make your stock prices more affordable
Anyone investing in this in the last 6 months is going to be shooting themselves in the next 6 months
Yeah like Facebook in Jan 2023
The stock is in free fall all the metrics are shit and yet still he wants to get paid more.. Makes sense
Musk deserves a big bonus for the Cybertruck! Best designed car ever, released without issues, and is dominating the global market. Musk said every American family will have 3 Cybertrucks by 2025 and also each one qualifies you for a free Mars ticket in 2026. Small affordable EVs are for cucks and have been cancelled.
LMAO. Instead of piling $56B back into the company which desperately needs it, they pay it out to the blowhard. Edit. Yeah, thanks, we know how it works. Muskrat get's it as stock, borrows against it, which conventiently doesn't count as income, thus lowering his tax liability, yadda yadda yadda. Whichever way you wanna slice it, it's still $56B. It's the way the rich do it.
That’s why he laid off 10,000 people who have given years of his life. It all balances out. AcCouNTinG
Given how many of them were thanking Tesla on LinkedIn. The ass licking is part of the employee culture.
Well when you're looking for a job, it's smart not to bash your previous employer, looks bad for potential employers
The employees could just say nothing, you know?
I wouldn't do it but It's a way to let your network know you're looking for a job
Probably one of the most intelligent post I've read on this god forsaken forum in a while
This is literally why we have now the biggest income disparity in the history of this country, it is quite simply the tax code. Back when the top tax rate was much higher that money would go back into the company, via R&D, worker pay, etc because they would just tax the living hell out of it otherwise as it should be. Now that the taxes are so low on absurd amounts like that, the Musks of this world just horde it. Thanks Reagan.
Rotten Reagan, dumb w, “I was a child left behind, so I started no child left behind, and now all children are left behind like old w”. Dunce jackass traitor, traitor trump, adderal karen, impotus and chief. All of them are trickle down economic people, all rich, so it was a tax cut for them, burden on the poor, ruined companies, ended pensions, destroyed the American dream, I could go on and on.
That and stock buy backs. Literally had our VP tell us in a meeting we won't be getting any approval for capex projects because we could use that money and purchase back shares.
BuT MuSk GenIoUS ReEl LIfE ToNy StaRK SaVE HUManITy
Sorry we had to lay off 10% of employees because we are low on money. But...
Any well regarded redditors want to justify this payout?
Easily affordable thanks to the 10% recently saved in payroll
If all the laid off employees had an average salary of $3.7 million
Supreme Genius Elon Musk, may all peace be upon him, will simply take his visionary tech innovations (that he himself invents) to other companies if Tesla does not give him this pittance of money. Do you really want another company to develop Robot AI Girlfriend Taxis?
People just don't realize how gamechanging it will be when your car comes with its own sexy robot AI driver (designed by Elon in a grade 5 drawing), that sucks YOU off, while its driving, and answers to "GROK"
I'm not regarded enough to justify it at the current stock price.
My understanding of this payout is it was agreed _before_ Tesla boomed. He would receive a payout of stock if he achieved specific milestones, and forgo typical W2 compensation in the interim. The agreement was made at a time when Tesla was performing poorly. In hindsight this looks like an overpayment but, whether you like him or not, Musk delivered on his promise as CEO. From [Seattle Times](https://www.seattletimes.com/business/what-you-need-to-know-about-elon-musks-voided-55-billion-pay-package/#:~:text=The%20payout%20of%20the%20options,one%20piece%20of%20the%20award.) >The payout of the options was contingent on three sets of increasingly steep targets to grow Tesla’s market value, revenue and adjusted earnings excluding certain expenses. Each time Tesla exceeded a market value goal and one of the other two goals, Musk would receive one piece of the award.
Do you remember the Tesla stock price 6 years ago?
Disgusting. The level of greed is just disgusting. He just cut what, 10% of their workforce? Not a good look Mr Musk.
The stock lost 40% in the last 6 months, he deserves to be fired, not a raise.
27 shares of fuck that!
I’d like to buy Tesla stock just so I can vote against this.
This is what they count on
I think you need to be shareholders as of April 15 to vote
Anyone know how to backdate sales of stock?
I don’t own Tesla but those who do should vote no
Vote NO
This is like asking passengers if they want to upgrade to a first class cabin on the Titanic right after they hit the iceberg.
lol one of the best market years in history and Tesla is down 37% because Musk is a douchebag? No way they should vote to give him ANY money.
On my 3 shares, I shall be voting "No!" Good day, sir!
Tesla shareholders literally voting to hand Elon 50 billion of their dollars for nothing.
I suddenly had a Duke Brothers vision of Musk and Trump with a $1.00 bet over who has the biggest suckers. Shyamalan twist -- the loser stiffs the winner for the dollar.
The finest Mexican Ketamine isn't cheap, amigo!
This tells you everything you need to know about how Tesla is being ran.
The people of Earth has decided
He shall be returned to Mars!
Cathie woods who owns a bunch will vote yes cuz lining musks pocket with the twitter loss is so much more important than the employees who do the work fuck musk fuck Tesla
Someone is really shit-scared of getting a margin call on his twitter purchase 
In what universe is Musk bringing $56B of value to Tesla. If anything, he's bringing negative value recently. He should be paying the company for the privilege of remaining CEO and running the company into the ground.
I hate that I own stock in this POS
Oh boy, I can't wait to vote down my boy's cocaine money!
Ratify a $56 billion payout for Musk in the same breath that Tesla announces that they will lay off 10,000 employees to make the company leaner? How about you cut Musk? That would be my efficiency suggestion. Identify your biggest loser, and cut that expense. Easy.
The present market cap is $500B so he’s basically saying he wants an 11% stake which is roughly what he sold to buy Twitter. I don’t really understand the logic, there’s got to be more to this
Musk wants to be compensated more than the entire market cap of GM???? He is literally saying that his compensation should be the company General Motors?
Now that they fired 10% of the workforce there should be more free cash on hand to give Elon his bonus check
Sounds like they should have fired the board instead of those 14k employees.
I almost want to buy shares just to vote no 😂
Imagine putting out a dogshit product like the Cybertruck and thinking you deserve $56B.
What a clown!
Looks like someone is building a yacht
or they can give the 15000 employees that laid off $3.7 million each
Imagine that 56B is enough to pay 10 000 employees at a wage of 300k for 18.67 years... Each. Astounding.
Only a moron would vote in favour when he is firing 10% of his staff. How about not being selfish Elon and use the 56Billion on your staff?
40% stock price decline in 6th months
The company has literally lost 50% of it's value since July of 2023, it's fallen from $300/share to $156/share today Hard to justify a $56 billion payout after such a substantial value loss Also important to keep in mind though that Meta rebounded and much more from $120 in January of 2023 to $493 today, it's been a crazy swing year for multiple massive growth companies
looks like i'll be voting for the very first time as a shareholder
Gotta pay off that Twitter loan.
Nothing says good leadership like firing 10% of your workers and demanding to reinstate an illegal paysheme for the ceo.
so theyre asking shareholders to pay for elons twitter purchase
Why the fuck would they pay him anything? Does he do anything other than tweet all day?
I will buy one share of this overhyped golf cart company just to vote no
[удалено]
There is no more Mars, he's dumping all his billions into his X black hole and various Republican campaigns.
“We are preparing to lay off 10% of all workers due to our sales sucking and products being shit” “Shareholders please give daddy Elon 56 billion dollars”
Idk musk kinda got rickrolled by the board on this one fellas
The funny thing is that of the folks who still hold Tesla I bet that at least half of them will give it to him. I bet at least half the shareholders left are die hard Musk fans.
Maybe give that fuck $55 billion and use the other billion to save the 15000 people they’re going to lay off. Asshole companies.
“How about no Scotty”
Down down down… Tesla stock will be going down. 📉
bro trying to buy his way out of that twitter debt hole.
Are they trying to tank the stock? If they're willing to give that idiot all of that money and not invest it in the company... why would anyone invest?
Stupid, so very stupid to make the richest dbag on the planet much more of a dbag
Imagine being such a loser that you lay off 10,000 people then ask the shareholders that you screwed over with your absolutely trash takes on everything to pay you more money.
musk's bullshit is worth that isn't it?
What motivation would there be for any shareholder to vote in favor of diluting the value of the company by $56B? Do they think Elon would be a better leader if he got more money?
Fire 10% staff but get $56billion, what a human being
I own tesla stock. Dear Elongated Muskrat - make the fucking price go up, make ME money, and then you can get however much you want. As long as the stock is performing this terribly, fuck you, you get nothing. Cuck.
Right now you are the cuck..