We’re turning into a communist country. How much Tesla’s CEO is paid is nobody’s business but the owners’. And the fact that Musk is an important political figure in the opposition makes it even more outrageous.
The owners of Tesla (the shareholders) approved the compensation package by a wide margin. And shareholders still feel that way; we know that they disapprove of the court’s decision because TSLA stock dropped by 3% when the judge’s ruling was announced.
Originally, the pay plan was widely viewed as a publicity stunt, because the amount Tesla would have to grow for Musk to collect was seen as ridiculously high to the point of impossibility.
But Tesla’s performance was outstanding beyond one’s wildest dreams. They had a contract. And Musk is entitled to his pay.
Oh, and the guy who sued has 9 shares of stock. How can the judge possibly consider him a representative of general shareholders?
Our judicial system sinks to a new depth every day, it seems.
Who is John Galt?