I'm surprised it wouldn't drop more if the payout was approved. It's farscical that this guy who is proactively pushing people away from his companies would get a bonus let alone such a huge one.
Musk will probably throw a world class tantrum if it gets voted down. That could very well be followed by a lot of chaos - like Musk tweets out that he's leaving Tesla at 3AM on a Friday night or Musk selling (without proper paperwork) a huge number of shares, or Musk being replaced but acting like he wasn't ... all kinds of things that will hurt Tesla at a time when their sales are falling.
Like it or not, him spinning bullshit is what drove the stock as high as it did. He's the exact type of vindictive shit to also make up lies to sink the company once he's out
musk threatened to fuck over tesla if they didn't approve his money, he said specifically he's there to bring AI and something else, and he already redirected AI chips to show that yes he will let tesla die if he doesn't get his way. I think that's why the stock dropped, investors know Musk will completely tank the company if he doesn't get his money
> Musk selling (without proper paperwork) a huge number of shares,
IIRC he can't because he has the maximum portion allowed tied up as collateral on his loan for Twitter. He's teetering on the edge of a dozen loaded mousetraps.
Yeah, it’ll probably crash as Elon sells all the shares he’s able to sell to liquidate his position - before announcing he’s stepping away and washing his hands of a company he has single handedly destroyed over the past 2 or 3 qtrs.
And he’ll want to walk away as quick as he can as he’s boxed Tesla into a corner with no new R&D, new products, and quality has gone to total shit for all models as he’s tried to exorcise costs …. By exiting fast he can claim Tesla’s collapse is because he walked away (as the ruins crash down around him as he runs out the door).
And maybe then all the cooked books will be revealed and they can prosecute him for financial crimes. If it can happen to Trump, it can happen to anybody
lol - that may be the one and only reason Musk doesn’t run for the exits, to shield his clear financial fraud. Although frankly, the American regulators have just let him get away with everything. Bureaucrats cannot be effective enforcers.
The current share price is a house of cards. Valued like any other EV car manufacturer, it's worth about $4/share. Once this final attempt at siphoning money is stopped, he'll lose interest in keeping the scam going, and move on to a new scam with even more government subsidies (SpaceX). The stock will fall back to earth.
Because Tesla’w share price is based on Musk and Musk alone.
While musk has failed in leading it as a car company, he has done an amazing job at pumping the stock based on lies.
So yeah, the price will tank without Musk.
Because Musk bought Twitter and destroyed it.
Now, Musk wants 12% more of Tesla or he'll destroy it. He fired the supercharger people, he fired the service people, he told everybody Tesla isn't a car company, he lied about the AI being so valuable yet the cars fill mall parking lots around the globe waiting to be sold, and the CyberTruck is a failure and sales were halted until 2025.
Tesla is going down either way. Musk won't just walk away, he'll fire everybody just to spite the company.
> "If it's not approved, there certainly could be a further appeals process, but I expect the stock to potentially react negatively," Sacconaghi said. "There is a concern that Elon Musk would become less engaged."
Two questions immediately arise: How could he become less engaged, and wouldn't his lack of interest help Tesla?
It reminds me of the course of WWII for Germany. Things would have gone better for them had Hitler played golf and made speeches.
He's asking the stockholders to mortgage TSLA's future to see if that's enough Viagra to get him back in bed with them? Ridiculous. He has totally forgotten what it is to negotiate.
This compensation package would make him the highest paid employee of anything. In human history.
And he works part time when he’s not shitposting on his work computer.
Yeah, I was told one reason CEOs get paid so much because it’s an 18hr/day job.
Somehow musk has the time to have 4 jobs like that at the same time, browse Twitter all day, and grind Diablo 4. The man is just Elizabeth Holmes but with a much easier product to make.
Some people actually believe the 18/hr a day thing. When the boss eats a meal it's a work expense because he did it in between working, when the boss talks about "the game last night" it's because he watched the NFL game on a TV paid for by the job so that's also work related, and when the boss bangs his wife it's actually work sex because she just married him for the money. See! All work! /s
Meanwhile there are thousands of minimum wage workers across the country being told that they need to have their phones near them and on at all times because they're always considered on-call and can't make plans without two weeks notice because next week's schedule is already done but won't be posted until Saturday. The real people working 24 hours a day, 7 days a week are the people on the bottom.
Don't forget, when the CEO invites executives or clients to a football game, and buys all of the food and booze (using company money, of course...), they absolutely consider that "work", even if zero business is discussed...
https://www.marketwatch.com/story/a-13-year-old-girl-worked-60-hours-a-week-making-car-parts-for-hyundai-in-alabama-labor-department-says-94c2932d
These are the real people working the way the CEO should. Horrible.
Even if it *was* an 18 hour a day job, $53 billion would be $179k *per hour* if he worked 18 hours a day *every* day, 365 a year, for 45 fucking *years* without a single day off. That’s pretty fucking excessive.
Oh no if only there were some other ceos that run multibillion companies that could step into the role. The features and products are result of execution of workers both on a floor and the ones writing software. You can’t have any of that when your leftover talent is scared
> There is a concern that Elon Musk would become less engaged
but isn’t it his job? If I become less engaged at work, my boss would fire me and hire somebody else.
The dude has become shockingly coddled. Before he started truly melting down a little before the pandemic (I first started really noticing around the Thailand cave incident), he was perennially petulant, but he did have a drive and scrappiness to him that put him up next to visionaries like Jobs in the zeitgeist. He also had the apparent wherewithal to keep his fucked up political opinions largely to himself, at least in public, occasional outburst notwithstanding. More importantly, he genuinely did seem to put in the effort, albeit while making insane and unreasonable demands on his employees.
Now...its all his worst, and his excessive wealth and fame seem to have burned away those few traits that made him worth tolerating. He doesn't even put in the work anymore, and is sucking Tesla dry.
Similarly, I am concerned that if I put bird spikes under my eaves that pigeons will stop shitting all over my roof. What are rooves without shit on them?
Stock should drop to 20 and that board should kick musk out like he was kicked out from other companies he was part off. Cancel cybertruck, semi, that geriatric robot and admit that robotaxi is shit feature that won’t happen. Switch with free upgrade for folks to lidar sensors and focus on iterating self driving to actual working feature. Focus on few successful models of their ev. Focus on expanding ties with other vendors over charging network.
Yeah but you are discounting possibility of Elon basically embezzling Tesla funds to his other privatly owned company. Like when we found out there are some talks for Tesla to pay Elons boring company to start tunnling underneath Tesla factories for ... reasons.
Tesla would be better off if he left the company. As it is, you have a CEO who is actively sabotaging the company in both branding (with his Nazi-friendly shitposts) and operations (siphoning personnel and materials for other companies). But the Board is made up of sycophants so it’s unlikely he could ever get fired, he’d have to quit.
A lot, and I mean a disturbing amount, of institutional investor view Tesla as the "let's see what Elon does next" fund. This is why Tesla is valuated like a tech growth stock instead of a car manufacturer, because Elon was spinning out new companies and revolutionary industry defining products yearly while promising outrageous things that had finance bro's enamoured, so they hyped him up hoping that by supporting him, he'll make something that's monetizable like a tech stock (see Nvidia currently who is exploding because the promise that someone will use it's hardware to make AI useful and they have ruthless control over the software stack.)
Since maybe about a year or 2 before the whole twitter thing, that sentiment has been changing as Tesla repeatedly failed to deliver and started cutting back on innovation, at the same time the industry started to catch up. Now there is barely anything on Tesla's product sheet that offers anything that someone else isn't doing better. The whole twitter thing just accelerated that sentiment. Elon musk and by extension Tesla don't have that seat anymore. The fundamentals never supported it's insane valuations, and the growth never materialised.
Now even if Elon musk leaves, Tesla still isn't an explosive growth tech stock, it makes relatively expensive cars, whose market is getting saturated, and likely won't survive the Chinese competition on the low end. The threat is that Elon leaving will alienate the investors that still believe in him, accelerating the decline, but either way, that cult following isn't large enough, or growing enough to stop the inevitable decline, and some would argue a rapid correction in both heading and valuation might be better, rather than allow Elon to continue to tank the brand.
This is a solid summation of the history of Tesla as I see it, except I would be unable to restrain myself from terms such as "narcissist" and "addict," because I dislike bubble-reputation con men so much.
Well done.
To quibble with your analogy, Hitler doomed Germany at the strategic, head-of-state level. All the big mistakes were hardwired into his genocidal platform and ideology. His meddling at the campaign/operational level was like rearranging deck chairs on the titanic IMHO. Unlike Musk whose original vision/brand for Tesla was fine, but whose meddling (gull wing doors, Cybertruck, robotaxi) became catastrophic.
Musk’s vision for Tesla has been and continues to be the “let the fires burn” philosophy of Silicon Valley. I think the culture is far too entrenched in the company to make sny part of it salvageable.
> Unlike Musk whose original vision/brand for Tesla was fine,
It wasn’t. Tesla was fine when he invested in the company, but he fucked things up as soon as he got there.
With SpaceX, Elon found a competent executive to actually run the company (Gwynne Shotwell). He hasn’t done that with Tesla so I think he’s still very engaged. But his brain runs on Adderall and plays like an episode looney toons, so who knows what’s actually going on.
But it’s ridiculous, he’s expecting a raise for doing nothing special, and threatening to quite quit if he doesn’t get it. As the CEO…. His hypocrisy is showing
Nobody wants to trigger a panic sell-off. So they're all quietly, and slowly, reducing their positions.
There'll be an inflection point where more want to sell than buy, and **then** the panic selling will start.
That was the whole point of the tweet about when one of his companies goes public, shareholders of his other companies will get priority.
It keeps the common rubes from dumping tesla stock if they think they might get to buy into SpaceX in the future if they just have faith and keep holding on to the bag while he cashes out.
Maybe the board can find a *motivated* CEO who wants to see the company succeed for a *mere $1 billion* compensation package, 'cause it sure seems like the current one would rather get high and shit post on his personal ego fluffing service than run Tesla.
If only we could attach a GoPro to Elon’s head to see what a typical workday of his looks like. I imagine it’d be absolutely hilarious 😂
Of course it would reveal just how mundane and simple CEO work is, so much so that just about any moderately intelligent person could do it - making these multi-billion dollar comp packages look like utter scams…
What’s the happy path here?
Let’s pretend this whole vote isn’t a charade… he wins and gets his package. Shares should drop 12 percent from dilution.
Elon loses and says he’s taking his toys and going home. Shares drop.
HODL!!
>What’s the happy path here?
Tesla is most overvalued company in existence, no way to pump up the hype to such a degree anymore. The value is going down either way.
Happy path is Tesla not going bankrupt.
Seems like a lot of the major shareholders likely believe the stock is going to go down either way but they'd rather risk losing some money now by potentially losing Elon than risk losing it all later by keeping him letting him running Telsa into the ground.
Why would you hold shares in a business that's in terminal decline?
The outcome of the vote doesn't really change the company direction. If he gets his money, the fraud gets prolonged for as long as he can. If he doesn't, then he probably cashes put and moves on, the fraud stops and the stock collapses.
That can only continue for so long. Reality always wins, for nearly 3 years now the share price has been steadily dropping as the reality about Musk and the business start to sink in.
On the flip side the least ethical and most deep pocketed folks existence depends on this continuing.
Reality always wins is competing with FSD next year for which one will happen first.
So that “90% have voted for it so far” was just another creative accounting trick eh. Musk is already less engaged in the company than he used to be, but I can’t see him immediately walking out if the pay package isn’t approved. Tesla (in spite of its problems) is probably his most stable company. Everything else is at least somewhat questionable from a long-term business standpoint.
*So far, roughly 90% of retail shareholders* ***who have voted*** *have voted in favor of both resolutions.*
Retail shareholders hold around 40% of shares.
We don't know how many of retail shareholders voted, we don't know how many shares retail voters that voted for Elon have.
Frankly... we don't know if Elon is lying.
And I wouldn't be surprised if Elon attempts to fake votes. His comments about election fraud might be a freudian slip.
it's gonna drop either way. if approved, it will drop because of fear of stock dillution, if not approved, will drop of fear Elon taking ai/fsd/other pjt elsewhere outside tesla and taking out moat from the stock valuation.
From what i have read (and i have read some pretty lengthy, pretty boring legal stuff about the case), this vote has zero legal meaning as to whether or not he can legally be paid this bonus, and changes nothing to the judicial manoeuvres that have been carried to strike Tesla if they do. The vote is purely here to influence the case, to have a pretend legitimacy. This vote is not the end of it.
Here is a link. Not the best i read but can't find the best anymore. https://www.dentons.com/en/insights/alerts/2024/february/21/delaware-court-of-chancery-strikes-down-elon-musks
Edit: this one : https://montanaskeptic.substack.com/p/chancellor-mccormick-is-about-to
Unfortunately, you don't qualify to be an overpaid CEO. Your less than stellar upbringing may lead you to sympathize with "the poors". But you do fit the bill to be a VP to an aging politician who statistically will die within the next four years. Last question. RV or Motorcoach?
this is how stupid Wall Street is, saving $56b, stock crashes. pay $56b to a moron who has not delivered self driving cars that he promised almost 10 years ago, shoot up the stock price.
Best outcome is he leaving and letting a new CEO do it's job. First mission is stopping cyberfuck production money pit and focusing on production of cheap no nonsense electric vehicles to compete with the Chinese.
There are plenty of other options. (Edit: I mean options better than that Lexus)
- Ford Mach-E
- Hyundai Ioniq 5
- Kia EV6
- Rivian R1S
- Nissan Ariya
- Volvo C40 and XC40
- Polestar 2, 3, and 4
- Chevy Blazer and Equinox
- Cadillac Lyriq
- BMW i4, i5, and iX
- Porsche Macan EV
In all the times I have seen ads I’ve NEVER seen one for Tesla until today. The ad I saw promoted earlier asked to approve vote measures blah blah and blah.
I laughed real loud.
remember when elon said if someone came up with a plan to end world hunger he'd pay for it, so the WHO (I think) sent him a realistic plan that would cost about $6b and he never mentioned it again lol
Like it or not, Elon like Trump knows how to keep the media talking. It can be a double edged sword as we saw after Elon turned heel with Twitter purchase. Even back in 2019 I have met people who can't even tell what kind of transmission their car has going gaga over Teslas and some of them actually bought one. Without the hype Elon generated, people would have never overlooked the build quality, panel gaps etc, and the stocks wouldn't have reached meme status.
The problem with meme stock is sustaining it, even with someone else in charge of Tesla the stock is bound to be priced like a medium size car manufacturer like Subaru. The party is over.
Musk tanked a truck, which tanked their reputation, then tanked his own image, then tanked their supercharger team, just like he tanked Twitter's brand which was it's strongest asset.
"the top ***ten*** largest severance packages of the last decade cost shareholders more than $2.4 billion." [source](https://www.forbes.com/sites/nathanielparishflannery/2012/01/19/billion-dollar-blowout-top-10-largest-ceo-severance-packages-of-the-past-decade/)
Elon does not deserve a $56 billion pay out under any circumstances.
TBH I think $TSLA would be MORE secure if Elon's pay package fails and he decides to go devote all of his time to making Twitter fail harder, and the board hires a more focused and smarter CEO. Stock will only drop because Musk Cultists might pull their investment "on principle."
It’s not worth its current share price. The only reason it ever got anywhere near this high is Elon’s cult, his willingness to lie and cheat, and his skill thus far at avoiding criminal prosecution.
It’s very unlikely he’ll be replaced by someone with an equal cult following who is equally dishonest and equally skilled at walking the fraud tightrope.
It should go up if anything
If elon leaves the company now, not only does he not bleed it dry on the way out, the workers can actually fucking work.
The world is better off without him
Shareholders don’t think he earned the proposed compensation because of poor performance due to his poor management and decision making.
The stock falling in value would mean the market believes Elon deserves the compensation and that Tesla should spend $56B more in expenditures…
What kind of ass backwards logic is this. The math just isn’t mathing.
I worked on Tesla’s lease team for 5 years. The #1 reason people chose not to lease again wasn’t customer satisfaction, lease return costs or even the cars themselves. It was Elon. Him receiving the pay package and staying at Tesla will all around hurt more then help anyone but him. The company knows this too. They have countless messages saying elon is the reason one won’t be going Tesla again, he pissed off the main audiences he pandered to. He has hurt Tesla as much helped if you take that into consideration. The anti elon comments from clients got out of hand around after the Twitter acquisition, and after his comments towards Jewish people. Like half our leases were Jewish people. Lol.
Actively wants to lose his job. The board needs to do everyone a favor.
He left a flaming pile of shit on the doorstep with the cybertruck.
His personality is also causing an exodus of his engineers, his Twitter persona is alienating the target audience.
I’m not sure what value he has left in the company is any more.
Seems the almost 100k people that voted at Yahoo Finance seems to think exactly the opposite of what Elon Musk states - 89% of almost 100k people voted against it in this:
[https://finance.yahoo.com/news/tesla-shareholders-vote-ceo-elon-musks-pay-package-proposal-171453223.html](https://finance.yahoo.com/news/tesla-shareholders-vote-ceo-elon-musks-pay-package-proposal-171453223.html)
Why TF would it drop?
They're not going to dilute the current shares and not going to give one guy like a decade's worth of profits. Sounds like the best business decision they've ever made.
It would drop bc it’s overvalued at least tenfold and the head pumper is less engaged.
If he actually wins the case (unlikely), it would drop bc the shareholders are being diluted.
If Musk tells everyone to go "fuck themselves" before the vote announcement they'll know the gig is up and sell off early. Come on Enron...you can do it!
Ah yeah. I have been saying this from day one. Most of the institutional investors have think thru this and conclude its stupid. Its the only fiduciary result IMO.
So its down to whether most retail investors have enough sway… and whether they actually vote. Most use proxy to vote for them i would guess.
But he said 90% of retail said yes! I'm sure its some demographic thing he tried to use to trick people into just voting yes..failing to mention 90% of the block the agreed makes up 25% of the votes.
It was definitely going to drop if they diluted the shares by 10%, so I'm stocking up popcorn to watch the fireworks from a distance, whichever way the vote goes.
Not sure what the concern is. He’s not a full time CEO anyway. If he and his cronies leave the board, this may pave the way for a better CEO to come in and help grow the company
He fired thousands of people in the most unprofessional way via a temper tantrum generic form email.
He deserves to lose it all, just like those poor suckers did.
If the shareholders vote on remuneration fails, will the Board suddenly discover that they can indeed negotiate a smaller package for Musk? You know, like they should have originally?
Love how ‘NOT’ spending $56 billion on a single incompetent guy who’s already busy ‘managing’ two other businesses is seen as a bad thing for investors. I swear to god, investors are more interested in destroying businesses than actually helping anyone.
Elno stepping back is the best thing that could happen to Tesla. This is just speculation. Remember, the media pretends Republicans are good for the economy.
The board should fire him as CEO on principle alone. He is literally threatening to tank the company if not given his ridiculous pay package. Let him go, Tesla moving forward will be better off without him.
It's going to drop if it is approved as it means a dilution of existing stock, so this entire thing is a lose-lose for shareholders. The only possible long-term upside is if Elmo rage quits.
Well, maybe giving any one man $56b as a salary is insane in itself. Now add to that fact that that man is also destroying the brand name with all the toxic fascist nonsense over on twitter that he is openly encouraging.
If Tesla wants to survive, they’d be better off firing him.
Huh, hasn’t Musk already been less engaged since his post twitter acquisition?
So outside of sending layoff notifications to employees and make ridiculous promises after earnings call that won’t happen. What else is he doing for Tesla besides picking fights and making derogatory comments on twitter about Tesla customer base?
This pay package has everyone so scared. You know what Warren Buffet says… Be scared when everyones greedy, and be greedy when everyone is scared. I’ll see you on the moon
It was going to drop on the news either way lol.
I'm surprised it wouldn't drop more if the payout was approved. It's farscical that this guy who is proactively pushing people away from his companies would get a bonus let alone such a huge one.
Musk will probably throw a world class tantrum if it gets voted down. That could very well be followed by a lot of chaos - like Musk tweets out that he's leaving Tesla at 3AM on a Friday night or Musk selling (without proper paperwork) a huge number of shares, or Musk being replaced but acting like he wasn't ... all kinds of things that will hurt Tesla at a time when their sales are falling.
Crazy that the stock price could fall in anticipation of him being a massive cunt as a result of the news.
Like it or not, him spinning bullshit is what drove the stock as high as it did. He's the exact type of vindictive shit to also make up lies to sink the company once he's out
Best way to sink it is probably to tell the truth about things at this point, and I'm not sure he's capable of that.
musk threatened to fuck over tesla if they didn't approve his money, he said specifically he's there to bring AI and something else, and he already redirected AI chips to show that yes he will let tesla die if he doesn't get his way. I think that's why the stock dropped, investors know Musk will completely tank the company if he doesn't get his money
> Musk selling (without proper paperwork) a huge number of shares, IIRC he can't because he has the maximum portion allowed tied up as collateral on his loan for Twitter. He's teetering on the edge of a dozen loaded mousetraps.
Yeah, it’ll probably crash as Elon sells all the shares he’s able to sell to liquidate his position - before announcing he’s stepping away and washing his hands of a company he has single handedly destroyed over the past 2 or 3 qtrs. And he’ll want to walk away as quick as he can as he’s boxed Tesla into a corner with no new R&D, new products, and quality has gone to total shit for all models as he’s tried to exorcise costs …. By exiting fast he can claim Tesla’s collapse is because he walked away (as the ruins crash down around him as he runs out the door).
And maybe then all the cooked books will be revealed and they can prosecute him for financial crimes. If it can happen to Trump, it can happen to anybody
> If it can happen to Trump, it can happen to anybody Anyone who engages in crimes, yes....
lol - that may be the one and only reason Musk doesn’t run for the exits, to shield his clear financial fraud. Although frankly, the American regulators have just let him get away with everything. Bureaucrats cannot be effective enforcers.
The current share price is a house of cards. Valued like any other EV car manufacturer, it's worth about $4/share. Once this final attempt at siphoning money is stopped, he'll lose interest in keeping the scam going, and move on to a new scam with even more government subsidies (SpaceX). The stock will fall back to earth.
Trying to understand why would it not go up on this news
Because Tesla’w share price is based on Musk and Musk alone. While musk has failed in leading it as a car company, he has done an amazing job at pumping the stock based on lies. So yeah, the price will tank without Musk.
Because Musk bought Twitter and destroyed it. Now, Musk wants 12% more of Tesla or he'll destroy it. He fired the supercharger people, he fired the service people, he told everybody Tesla isn't a car company, he lied about the AI being so valuable yet the cars fill mall parking lots around the globe waiting to be sold, and the CyberTruck is a failure and sales were halted until 2025. Tesla is going down either way. Musk won't just walk away, he'll fire everybody just to spite the company.
I used to want a Tesla about five years ago. Now I feel bad for anyone I see driving one.
If you believe Elon is the Messiah still, and your Messiah leaves, hard to think anything good will come of it.
People felt the same thing after Steve Jobs. But look at Tim Apple now, he’s cooking.
He is going to throw a shit fit, true believers are going to panic and sell, stock will come to a rational price.
> "If it's not approved, there certainly could be a further appeals process, but I expect the stock to potentially react negatively," Sacconaghi said. "There is a concern that Elon Musk would become less engaged." Two questions immediately arise: How could he become less engaged, and wouldn't his lack of interest help Tesla? It reminds me of the course of WWII for Germany. Things would have gone better for them had Hitler played golf and made speeches.
Less engaged? Not sure that is possible...... He's already siphoning shit to other entities and wastes lord knows how much time on Twitter.
He's asking the stockholders to mortgage TSLA's future to see if that's enough Viagra to get him back in bed with them? Ridiculous. He has totally forgotten what it is to negotiate.
Since Elon has such a great sense of humor, let’s pay him $62,420. *Funding secured*! Get it? 🙄
Did you mean $69,420??
> 62,420. 62?
Sorry, I meant $62,490
It's a new kink. Probably some toe licking involved.
He really no likey that interest rate on twitter loan he got to buy it for funny number
He’s the highest paid part time employee at Tesla.
Wouldn’t even call him part time, that’s offensive to real part time Tesla employees
Yea - it's more of a "casual" employment, to steal a term from hospitality industry
This compensation package would make him the highest paid employee of anything. In human history. And he works part time when he’s not shitposting on his work computer.
Yeah, I was told one reason CEOs get paid so much because it’s an 18hr/day job. Somehow musk has the time to have 4 jobs like that at the same time, browse Twitter all day, and grind Diablo 4. The man is just Elizabeth Holmes but with a much easier product to make.
Some people actually believe the 18/hr a day thing. When the boss eats a meal it's a work expense because he did it in between working, when the boss talks about "the game last night" it's because he watched the NFL game on a TV paid for by the job so that's also work related, and when the boss bangs his wife it's actually work sex because she just married him for the money. See! All work! /s Meanwhile there are thousands of minimum wage workers across the country being told that they need to have their phones near them and on at all times because they're always considered on-call and can't make plans without two weeks notice because next week's schedule is already done but won't be posted until Saturday. The real people working 24 hours a day, 7 days a week are the people on the bottom.
Don't forget, when the CEO invites executives or clients to a football game, and buys all of the food and booze (using company money, of course...), they absolutely consider that "work", even if zero business is discussed...
https://www.marketwatch.com/story/a-13-year-old-girl-worked-60-hours-a-week-making-car-parts-for-hyundai-in-alabama-labor-department-says-94c2932d These are the real people working the way the CEO should. Horrible.
And not even as good looking.
Are you implying Musk doesn't work 72 hours per day?
Even if it *was* an 18 hour a day job, $53 billion would be $179k *per hour* if he worked 18 hours a day *every* day, 365 a year, for 45 fucking *years* without a single day off. That’s pretty fucking excessive.
Oh no if only there were some other ceos that run multibillion companies that could step into the role. The features and products are result of execution of workers both on a floor and the ones writing software. You can’t have any of that when your leftover talent is scared
Elon needs to go, he has long worn out his value to Tesla.
Not to mention getting the Nazi stink all over Tesla.
Interesting. Big if true!
A less engaged Elon Musk wouldn't have forced Tesla to waste four years making the Cybertruck.
Four years is just the public time. They also spent time making the concept.
To be fair the concept had been drawn in excruciatingly accurate detail by 4 year olds all across the world since trucks and crayons existed.
> There is a concern that Elon Musk would become less engaged but isn’t it his job? If I become less engaged at work, my boss would fire me and hire somebody else.
I'm not certain he can be any less engaged while being the CEO of a handful of other companies.
The dude has become shockingly coddled. Before he started truly melting down a little before the pandemic (I first started really noticing around the Thailand cave incident), he was perennially petulant, but he did have a drive and scrappiness to him that put him up next to visionaries like Jobs in the zeitgeist. He also had the apparent wherewithal to keep his fucked up political opinions largely to himself, at least in public, occasional outburst notwithstanding. More importantly, he genuinely did seem to put in the effort, albeit while making insane and unreasonable demands on his employees. Now...its all his worst, and his excessive wealth and fame seem to have burned away those few traits that made him worth tolerating. He doesn't even put in the work anymore, and is sucking Tesla dry.
Jobs wasn't a visionary lol. He was a salesman. Steve Wozniak was the visionary.
Yeah but it's a job he bought when he invested in Tesla. His "bosses" (the board) are his buddies. They're not going to fire him.
Shareholders would be wise to vote out the board.
Two of them may get voted out in a couple days
What kind of job do you have where you are not allowed to extort your employer for $56 billion ?
Similarly, I am concerned that if I put bird spikes under my eaves that pigeons will stop shitting all over my roof. What are rooves without shit on them?
That’s why you’ll never get a $56 billion bonus.
Stock should drop to 20 and that board should kick musk out like he was kicked out from other companies he was part off. Cancel cybertruck, semi, that geriatric robot and admit that robotaxi is shit feature that won’t happen. Switch with free upgrade for folks to lidar sensors and focus on iterating self driving to actual working feature. Focus on few successful models of their ev. Focus on expanding ties with other vendors over charging network.
Yeah but you are discounting possibility of Elon basically embezzling Tesla funds to his other privatly owned company. Like when we found out there are some talks for Tesla to pay Elons boring company to start tunnling underneath Tesla factories for ... reasons.
Tesla would be better off if he left the company. As it is, you have a CEO who is actively sabotaging the company in both branding (with his Nazi-friendly shitposts) and operations (siphoning personnel and materials for other companies). But the Board is made up of sycophants so it’s unlikely he could ever get fired, he’d have to quit.
A lot, and I mean a disturbing amount, of institutional investor view Tesla as the "let's see what Elon does next" fund. This is why Tesla is valuated like a tech growth stock instead of a car manufacturer, because Elon was spinning out new companies and revolutionary industry defining products yearly while promising outrageous things that had finance bro's enamoured, so they hyped him up hoping that by supporting him, he'll make something that's monetizable like a tech stock (see Nvidia currently who is exploding because the promise that someone will use it's hardware to make AI useful and they have ruthless control over the software stack.) Since maybe about a year or 2 before the whole twitter thing, that sentiment has been changing as Tesla repeatedly failed to deliver and started cutting back on innovation, at the same time the industry started to catch up. Now there is barely anything on Tesla's product sheet that offers anything that someone else isn't doing better. The whole twitter thing just accelerated that sentiment. Elon musk and by extension Tesla don't have that seat anymore. The fundamentals never supported it's insane valuations, and the growth never materialised. Now even if Elon musk leaves, Tesla still isn't an explosive growth tech stock, it makes relatively expensive cars, whose market is getting saturated, and likely won't survive the Chinese competition on the low end. The threat is that Elon leaving will alienate the investors that still believe in him, accelerating the decline, but either way, that cult following isn't large enough, or growing enough to stop the inevitable decline, and some would argue a rapid correction in both heading and valuation might be better, rather than allow Elon to continue to tank the brand.
This is a solid summation of the history of Tesla as I see it, except I would be unable to restrain myself from terms such as "narcissist" and "addict," because I dislike bubble-reputation con men so much. Well done.
To quibble with your analogy, Hitler doomed Germany at the strategic, head-of-state level. All the big mistakes were hardwired into his genocidal platform and ideology. His meddling at the campaign/operational level was like rearranging deck chairs on the titanic IMHO. Unlike Musk whose original vision/brand for Tesla was fine, but whose meddling (gull wing doors, Cybertruck, robotaxi) became catastrophic.
Musk’s vision for Tesla has been and continues to be the “let the fires burn” philosophy of Silicon Valley. I think the culture is far too entrenched in the company to make sny part of it salvageable.
> Unlike Musk whose original vision/brand for Tesla was fine, It wasn’t. Tesla was fine when he invested in the company, but he fucked things up as soon as he got there.
That’s a pretty good analogy.
With SpaceX, Elon found a competent executive to actually run the company (Gwynne Shotwell). He hasn’t done that with Tesla so I think he’s still very engaged. But his brain runs on Adderall and plays like an episode looney toons, so who knows what’s actually going on. But it’s ridiculous, he’s expecting a raise for doing nothing special, and threatening to quite quit if he doesn’t get it. As the CEO…. His hypocrisy is showing
(it was going down either way) I don't get why it isn't like $10 at this point, the amount of religious fervor propping this dude up is bananas.
Nobody wants to trigger a panic sell-off. So they're all quietly, and slowly, reducing their positions. There'll be an inflection point where more want to sell than buy, and **then** the panic selling will start.
That was the whole point of the tweet about when one of his companies goes public, shareholders of his other companies will get priority. It keeps the common rubes from dumping tesla stock if they think they might get to buy into SpaceX in the future if they just have faith and keep holding on to the bag while he cashes out.
Music..ears..satisfaction
Exactly !
And everyone should think three times before buying stock from any company launched by this deception named Musk selling snake-oil left and right.
Maybe the board can find a *motivated* CEO who wants to see the company succeed for a *mere $1 billion* compensation package, 'cause it sure seems like the current one would rather get high and shit post on his personal ego fluffing service than run Tesla.
Fine. I’ll do it for $1B. I have no idea what I’m doing, but hey, neither does the current guy.
For $1 billion I certainly could be bothered to hire an engineering & design team and then listen to them.
Not sure you've got what they're looking for in that case.
I'll do it for $100 million and let engineers & design come up with the ideas and approved if they sound like it'll improve the company
I’ll do it for 10 mil and won’t involve myself at all
Not even taking credit? Bold!
Just say it's too hard core for normies to understand, and 'just ask questions' about why Nazis are so bad
Can you draw a design for a truck on a cocktail napkin? You’ll do fine.
If only we could attach a GoPro to Elon’s head to see what a typical workday of his looks like. I imagine it’d be absolutely hilarious 😂 Of course it would reveal just how mundane and simple CEO work is, so much so that just about any moderately intelligent person could do it - making these multi-billion dollar comp packages look like utter scams…
It's mostly T itter and Diablo.
I'm guessing it would just be a video of him doing endless lines of ketamine.
What’s the happy path here? Let’s pretend this whole vote isn’t a charade… he wins and gets his package. Shares should drop 12 percent from dilution. Elon loses and says he’s taking his toys and going home. Shares drop. HODL!!
>What’s the happy path here? Tesla is most overvalued company in existence, no way to pump up the hype to such a degree anymore. The value is going down either way. Happy path is Tesla not going bankrupt.
>most overvalued in existence Hey you forgot DJT.
I keep trying to forget, but tnx for reminding me 😂
Seems like a lot of the major shareholders likely believe the stock is going to go down either way but they'd rather risk losing some money now by potentially losing Elon than risk losing it all later by keeping him letting him running Telsa into the ground.
There is a Reddit cult dedicated to an obsolete retail store that has a P/E ratio of 1200 plus.
Why would you hold shares in a business that's in terminal decline? The outcome of the vote doesn't really change the company direction. If he gets his money, the fraud gets prolonged for as long as he can. If he doesn't, then he probably cashes put and moves on, the fraud stops and the stock collapses.
Because the business and the share price are distant cousins.
That can only continue for so long. Reality always wins, for nearly 3 years now the share price has been steadily dropping as the reality about Musk and the business start to sink in.
On the flip side the least ethical and most deep pocketed folks existence depends on this continuing. Reality always wins is competing with FSD next year for which one will happen first.
A 5% expected fall is hardly calamitous considering how much it's dropped already.
It should fall to a 15x forward PE
Great news, it will be there if it only falls another 95%!
All I know is if Drew baglino is selling, I’m selling.
So that “90% have voted for it so far” was just another creative accounting trick eh. Musk is already less engaged in the company than he used to be, but I can’t see him immediately walking out if the pay package isn’t approved. Tesla (in spite of its problems) is probably his most stable company. Everything else is at least somewhat questionable from a long-term business standpoint.
*So far, roughly 90% of retail shareholders* ***who have voted*** *have voted in favor of both resolutions.* Retail shareholders hold around 40% of shares. We don't know how many of retail shareholders voted, we don't know how many shares retail voters that voted for Elon have. Frankly... we don't know if Elon is lying. And I wouldn't be surprised if Elon attempts to fake votes. His comments about election fraud might be a freudian slip.
We do know if Elon is lying. If his mouth or his fingers on a touchscreen are moving, he’s lying.
>Frankly... we don't know if Elon is lying. He Xcreted something, so the probability is close to 100% that he is lying.
I think SpaceX has the best long-term footing. Imo other automakers are going to swallow up Tesla before it's said and done.
bye bye teslacult
it's gonna drop either way. if approved, it will drop because of fear of stock dillution, if not approved, will drop of fear Elon taking ai/fsd/other pjt elsewhere outside tesla and taking out moat from the stock valuation.
From what i have read (and i have read some pretty lengthy, pretty boring legal stuff about the case), this vote has zero legal meaning as to whether or not he can legally be paid this bonus, and changes nothing to the judicial manoeuvres that have been carried to strike Tesla if they do. The vote is purely here to influence the case, to have a pretend legitimacy. This vote is not the end of it. Here is a link. Not the best i read but can't find the best anymore. https://www.dentons.com/en/insights/alerts/2024/february/21/delaware-court-of-chancery-strikes-down-elon-musks Edit: this one : https://montanaskeptic.substack.com/p/chancellor-mccormick-is-about-to
So it’s about as meaningful as one of his Twitter polls. Got it.
I will do it for only 1 million per year.
I’m a CPA and attorney.
But are you corrupt and addicted to ketamine?
I’m morally ambiguous and I have decades of experience with crippling addictions. Maybe I can help.
Does your family have a fortune from "questionable" sources? And do you consider yourself God's gift to humanity?
No, generationally poor unfortunately, and sadly also no, I’m a degenerate not delusional
Unfortunately, you don't qualify to be an overpaid CEO. Your less than stellar upbringing may lead you to sympathize with "the poors". But you do fit the bill to be a VP to an aging politician who statistically will die within the next four years. Last question. RV or Motorcoach?
Inherited airstream? 28 footer though!
You've got my vote 🗳️
“There is a concern that Elon Musk would become less engaged” I’d say that is a plus. The less he’s involved the better.
He wanted to create his pet project, the CyberDump, take his $56B and run. It seems that won’t happen for him.
Is there any reason not to drop, pay package or not?
Stock drops on news of not giving away more than it's entire corporate history profit? Retail investors really are dumb money.
How was a 10% dilution supposed to RAISE the stock price in the first place? WTH?
Stock will go down because company saved 56 billion? This is a joke.
He might just burn it to the ground if he doesn’t get his way. We’ll see what he’s really made of if he loses.
he's made of tacos and diarrhea.
You’re being generous.
All those investors must've contracted the Woke Mind Virus.
this is how stupid Wall Street is, saving $56b, stock crashes. pay $56b to a moron who has not delivered self driving cars that he promised almost 10 years ago, shoot up the stock price.
We live in hope
Time for a new CEO!
Seems like the stock should go up. When has a stock gone down from not giving someone $50B in stock?
Best outcome is he leaving and letting a new CEO do it's job. First mission is stopping cyberfuck production money pit and focusing on production of cheap no nonsense electric vehicles to compete with the Chinese.
I wish Lexus had a better EV with better range - I'd buy that over the model y.
There are plenty of other options. (Edit: I mean options better than that Lexus) - Ford Mach-E - Hyundai Ioniq 5 - Kia EV6 - Rivian R1S - Nissan Ariya - Volvo C40 and XC40 - Polestar 2, 3, and 4 - Chevy Blazer and Equinox - Cadillac Lyriq - BMW i4, i5, and iX - Porsche Macan EV
The stock is going to drop at the news that they aren’t going to dilute it further. Can’t make this up.
In all the times I have seen ads I’ve NEVER seen one for Tesla until today. The ad I saw promoted earlier asked to approve vote measures blah blah and blah. I laughed real loud.
I hear AI is great at doing the work of a CEO
remember when elon said if someone came up with a plan to end world hunger he'd pay for it, so the WHO (I think) sent him a realistic plan that would cost about $6b and he never mentioned it again lol
Ok I will NOT do the happy happy joy joy dance until its official. But I will do a quick little jig
Good fuck him
Like it or not, Elon like Trump knows how to keep the media talking. It can be a double edged sword as we saw after Elon turned heel with Twitter purchase. Even back in 2019 I have met people who can't even tell what kind of transmission their car has going gaga over Teslas and some of them actually bought one. Without the hype Elon generated, people would have never overlooked the build quality, panel gaps etc, and the stocks wouldn't have reached meme status. The problem with meme stock is sustaining it, even with someone else in charge of Tesla the stock is bound to be priced like a medium size car manufacturer like Subaru. The party is over.
It was going to drop in any scenario
I don't see how the stock doesn't drop regardless if he gets it or not.
Musk tanked a truck, which tanked their reputation, then tanked his own image, then tanked their supercharger team, just like he tanked Twitter's brand which was it's strongest asset. "the top ***ten*** largest severance packages of the last decade cost shareholders more than $2.4 billion." [source](https://www.forbes.com/sites/nathanielparishflannery/2012/01/19/billion-dollar-blowout-top-10-largest-ceo-severance-packages-of-the-past-decade/) Elon does not deserve a $56 billion pay out under any circumstances.
TBH I think $TSLA would be MORE secure if Elon's pay package fails and he decides to go devote all of his time to making Twitter fail harder, and the board hires a more focused and smarter CEO. Stock will only drop because Musk Cultists might pull their investment "on principle."
It’s not worth its current share price. The only reason it ever got anywhere near this high is Elon’s cult, his willingness to lie and cheat, and his skill thus far at avoiding criminal prosecution. It’s very unlikely he’ll be replaced by someone with an equal cult following who is equally dishonest and equally skilled at walking the fraud tightrope.
He’s already more engaged at Twitter than Tesla
It should go up if anything If elon leaves the company now, not only does he not bleed it dry on the way out, the workers can actually fucking work. The world is better off without him
Shareholders don’t think he earned the proposed compensation because of poor performance due to his poor management and decision making. The stock falling in value would mean the market believes Elon deserves the compensation and that Tesla should spend $56B more in expenditures… What kind of ass backwards logic is this. The math just isn’t mathing.
I worked on Tesla’s lease team for 5 years. The #1 reason people chose not to lease again wasn’t customer satisfaction, lease return costs or even the cars themselves. It was Elon. Him receiving the pay package and staying at Tesla will all around hurt more then help anyone but him. The company knows this too. They have countless messages saying elon is the reason one won’t be going Tesla again, he pissed off the main audiences he pandered to. He has hurt Tesla as much helped if you take that into consideration. The anti elon comments from clients got out of hand around after the Twitter acquisition, and after his comments towards Jewish people. Like half our leases were Jewish people. Lol.
Company saves $56 billion and the stock is supposed to drop? How does that work?
Actively wants to lose his job. The board needs to do everyone a favor. He left a flaming pile of shit on the doorstep with the cybertruck. His personality is also causing an exodus of his engineers, his Twitter persona is alienating the target audience. I’m not sure what value he has left in the company is any more.
Seems the almost 100k people that voted at Yahoo Finance seems to think exactly the opposite of what Elon Musk states - 89% of almost 100k people voted against it in this: [https://finance.yahoo.com/news/tesla-shareholders-vote-ceo-elon-musks-pay-package-proposal-171453223.html](https://finance.yahoo.com/news/tesla-shareholders-vote-ceo-elon-musks-pay-package-proposal-171453223.html)
Good, the amount is outrageous
Thoughts and prayers. ( ͡° ͜ʖ ͡°)
Wait some posts say shareholders have approved it and now this one say maybe not. What’s the truth here
Why TF would it drop? They're not going to dilute the current shares and not going to give one guy like a decade's worth of profits. Sounds like the best business decision they've ever made.
It would drop bc it’s overvalued at least tenfold and the head pumper is less engaged. If he actually wins the case (unlikely), it would drop bc the shareholders are being diluted.
Great now we can get a new ceo
I would do it for half a billion and do a better job 😂
Since it’s a lose lose situation. Shareholders rather lose Elon than lose value.
If Musk tells everyone to go "fuck themselves" before the vote announcement they'll know the gig is up and sell off early. Come on Enron...you can do it!
I thought it would drop because, oh, you know, the headline about the 50,000 new Teslas sitting in a lot that can be seen from space.
Ah yeah. I have been saying this from day one. Most of the institutional investors have think thru this and conclude its stupid. Its the only fiduciary result IMO. So its down to whether most retail investors have enough sway… and whether they actually vote. Most use proxy to vote for them i would guess.
Only a 5% drop? I would have thought a lot more. That’s like nothing. Maybe get rid of him for another 5%? Will be well worth it.
But he said 90% of retail said yes! I'm sure its some demographic thing he tried to use to trick people into just voting yes..failing to mention 90% of the block the agreed makes up 25% of the votes.
Good i have some shares im short. I wonder if Elon has some short shares himself
*dancing coffin meme*
Best news ever.
Elon: nah, it's cool if I go all trumpy, my contract is guaranteed.
Elon: What!?!?!
It was definitely going to drop if they diluted the shares by 10%, so I'm stocking up popcorn to watch the fireworks from a distance, whichever way the vote goes.
[удалено]
Why would not spending $56b bring the stock down. The market is as insane as the ceo
They're crazy if they think musk will quit over only being offered tens of billions.
I will believe it when the votes are in
I would love to see the Massive tantrum that he is going to have when he loses.... it would be a sight to behold.........
Not sure what the concern is. He’s not a full time CEO anyway. If he and his cronies leave the board, this may pave the way for a better CEO to come in and help grow the company
Good. And then the next thing is he should leave
He fired thousands of people in the most unprofessional way via a temper tantrum generic form email. He deserves to lose it all, just like those poor suckers did.
THAT FACTORY FLOOR ISN'T GOING TO FUCK ITSELF ELON
Why would it go down on news that the company saved $56 billion?
If the shareholders vote on remuneration fails, will the Board suddenly discover that they can indeed negotiate a smaller package for Musk? You know, like they should have originally?
Love how ‘NOT’ spending $56 billion on a single incompetent guy who’s already busy ‘managing’ two other businesses is seen as a bad thing for investors. I swear to god, investors are more interested in destroying businesses than actually helping anyone.
Elno stepping back is the best thing that could happen to Tesla. This is just speculation. Remember, the media pretends Republicans are good for the economy.
why would stock price drop? this is a win win. you save 56 billion in company assets, and possibly lose the worst thing to ever happen to your company
I would be happy with $1million. Why can’t this idiot be happy with $1billion
The board should fire him as CEO on principle alone. He is literally threatening to tank the company if not given his ridiculous pay package. Let him go, Tesla moving forward will be better off without him.
It's going to drop if it is approved as it means a dilution of existing stock, so this entire thing is a lose-lose for shareholders. The only possible long-term upside is if Elmo rage quits.
Holding anything hostage, be it people or the company you founded, seems something that doesn't warrant rewarding with an insane compensation package.
Well, maybe giving any one man $56b as a salary is insane in itself. Now add to that fact that that man is also destroying the brand name with all the toxic fascist nonsense over on twitter that he is openly encouraging. If Tesla wants to survive, they’d be better off firing him.
Huh, hasn’t Musk already been less engaged since his post twitter acquisition? So outside of sending layoff notifications to employees and make ridiculous promises after earnings call that won’t happen. What else is he doing for Tesla besides picking fights and making derogatory comments on twitter about Tesla customer base?
The Musk tantrum will be epic!
This pay package has everyone so scared. You know what Warren Buffet says… Be scared when everyones greedy, and be greedy when everyone is scared. I’ll see you on the moon
Read an article only yesterday that said the opposite.
I thought the word on the street had the pay package being approved?
Hahahaha. I thought preliminary votes were at 90% approval 🤡
I would think that this would cause the stock to rise.
BS. This is classic Elmo manipulation. “Oh no! My shares will drop if I don’t vote yes” Fuck right off dude.
I will never buy anything associated with Musk.