Posted on 01/30/2024 2:03:31 PM PST by janetjanet998
Elon Musk’s $55 billion pay package at Tesla $TSLA was struck down by a Delaware judge after a shareholder challenged it as excessive, a ruling that takes a giant bite out of Musk’s wealth.
The decision means that more than five years after the electric car maker’s co-founder was granted the largest executive compensation plan in history, Tesla’s board will have to start over and come up with a new proposal.
I thought I remembered reading Tesla promotional materials from BEFORE Musk got on board. I didn’t think he was a co-founder.
Their earliest material was something along the lines of “Finally, an electric car from people who don’t hate cars.”
Make it $49,000,000,001.00 to satisfy that cretin...
I assume most of it was in stock options if certain metrics were met
Now we know why Elon wanted a bigger share stake in Tesla.
Yeah, I don’t think that’ll stand judicial review.
Maximum wage, I guess. How about 54 Billion, huh?
Another Communist judge ?
Let’s see ... Elon — one of the foremost inventors and businessmen the world has ever seen — has his $55 billion pay package struck down by a backwater judge, while E. Jean Carroll makes $83 million sitting on her butt claiming Donald Trump said bad things about her.
Elon Musk isn’t a member of the Delaware consortium.
Musk should take Tesla private. Then he can pay himself whatever he wants. But...
No wonder Teslas are so overpriced
Elon Musk
@elonmusk
·
12m
Never incorporate your company in the state of Delaware
“”I didn’t think he was a co-founder.””
I was going to ask - and still will - who is the other founder?
The world has been upside down for a number of years and it appears it’s getting worse every year...
Don’t you love these judges? I wonder how much taxpayer money they take home? State courts, district courts, federal courts, appeals courts etc. etc.
Judges just make it up as they go along. Rule of law, yea right.
I looked it up on Wikipedia.
“ The company was incorporated as Tesla Motors, Inc. on July 1, 2003, by Martin Eberhard and Marc Tarpenning.”
No Musk.
Why is this in court to start with...That’s what the agreement was...and that’s it...
I disagree.. Elon is the most valuable key man, ever. It sets a bad precedent for the courts to be able to decide what he’s worth, and indeed, what others like him in a future situation are worth.
But, be that as it may, he could sell a few shares when he needs extra cash.
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