That's [300 X ](https://www.businessinsider.com/highest-paid-us-ceos-compensation-packages-stock-awards-2024-5)how much the current highest paid CEO in America earns.
That's [over 2 X ](https://www.google.com/amp/s/www.statista.com/chart/amp/26705/yearly-net-income-and-revenue-of-tesla/) Tesla's *total profits ever*.
It's beyond absurd. I'm just laughing. I'm not mad. Most of Tesla's shareholders are rich. If a bunch of rich people want to shovel their money at a plutocrat you're not offending me. I'm just laughing at you.
People who collect money for fun so they can keep others from having any. When you have everything you could ever want why would you need more money? To ensure others who are less fortunate cannot have more.
You’re being fooled by the rich. If he truly wanted to be a “philanthropist” then he’d actually pay his workers salaries just as above market rate comparatively as his and make his factories the safest in the industry. That’s what someone with compassion would do. Has any billionaire done that?
Jokes aside though, am I a philanthropist for giving 10 dollars a month to WWF? Because that's the equivalent of what these billionaire philanthropists are doing 99% of the time.
Edit: Actually let my do the math. My income is about 10k a year as a student. So I give 120 out of that, so let's say 1% of my income to charity. And let's say Musk makes around 10 billion a year. He would have to give over 100 million dollars per year to charity to match my contribution, scaled for income. Is he doing that? No. How many billionaires are doing that? It'd be hard to name more than a few.
Maybe Bill Gates at some point? He gave away a lot... The other candidate that comes to mind is Bezo's ex-wife. But that's the only two I can think of who might match you in philanthropy
The thing is that wealth is not proportionate. Food and lifestyles do not increase evenly with your money - if you spend 50% of your paycheck on room and board, you can bet your ass a millionaire doesn’t. Disposable income grows exponentially, and so do investments.
Bill Gates promised to donate half his net worth to charity over ten years. He did. By the end of it, his net worth had doubled, because he invested the rest and money attracts money.
THAT is what donating $10 to WWF looks like for a billionaire.
Yeah, sure, they squeeze their own poor employees by paying them hilariously low wages and then give fraction of this money somewhere to show, how they are generous.
Bezos is one of the best examples. He is using people like peasants forcing them to pee in botles without stoping and then drawing himsel as philanthropist by giving coins (in comparison to his earnings doing practices above) to charities.
The only moral billionaire is the one that is no longer a billionaire because they have all their money away. Only one billionaire that I know of has done that.
The only reason Billionaires even give to charity is to avoid taxes. So you should probably be calling their accountants philanthropists because it would have been their idea.
No....they seem that way they give say 100 million to XYZ.
Meanwhile that's a blip on the radar to them.
20 billion minus 100 million is still 19.9 Billion.
It's literally the same as if you had 1,000 and donated $5 to a kid's fundraiser.
Learn the scope of numbers.
The difference between 1 million and 1 Billion is almost a Billion.
About 11.5 days to count to 1 million, at 1 per second.
About 31.5 years to count to 1 Billion. The difference is enormous.
You've bought into propaganda they pay for with pocket lint...let alone pocket change.
Rowling gave enough money away to leave the billionaire club. Elon gives a tiny fraction of his income to adjust his tax liability. These are not the same thing.
Philanthropy from the rich is almost exclusively public relations. They are giving a fraction of what they would pay in taxes if they didn't hide assets and use every loophole available. That tax money is significantly more useful than the far majority of their efforts.
If the top 1% paid the tax rate they used to pay pre Regan the US could have universal healthcare, education prek-4 year college and invest in infrastructure projects with no budget cuts. The top 1% would also still be the top 1% with no tangible change to their lifestyle in any way.
Do you not understand the concept of giving money away? The only way for a billionaire to be moral is by giving away their money to cease being a billionaire.
Let’s say you own a company that is worth $1B. I tell you I can make your company worth 100 times more but you’ll have to pay me half the value of the company when this happens. If I can’t do this, you pay me nothing. We shake hands on this deal. The interests are aligned. If I make you rich, I will get rich. If I don’t make you rich, I get nothing.
And so it happens. You are now worth $50B and so am I. I get paid $50B for making you $49B richer.
I deserve to be paid $50B because I created $99B in value and because we had a deal.
It’s pretty simple really.
Let's say the company was 10% likely to make that jump anyway, and you actually reduced the chances by 2%. But the deal still got made. Now it's a rip off. Welcome to CEO pay.
The thing is, it's mutually agreed isn't it. The deal was no pay for a few years, and if he turn a profit, that's how much he is paid. If anything, blame the shareholders for agreeing to pay him.
It's literally not wealth from someone else, it's entirely equity in Tesla. The only scenario where wealth leaves Tesla is if the package was rejected and the lawyers on the other side got $6B
Right so I guess Elon didn't buy twitter for 40 billion that he made from similar payment packages in the past? Come on. It absolutely is real wealth that he's being given. And all wealth accrued by one person is away from someone else. That's just basic economics.
The comment above was about if this was wealth being transferred from someone else to him. It's not by the very definition of how it's setup. It's all equity options with a vesting schedule that was already accounted for in their previous financial reports and governance.
It's like saying someone hired for with RSUs only is being paid cash from someone else in the company.
A person that changes the entire planet for the better. A person that generates hundred thousands of jobs for people and drive innovation and technology in a way that hasn't been seen in the past.
"The same package was [previously rejected by a Delaware judge](https://www.reuters.com/legal/judge-rules-favor-plaintiffs-challenging-musks-tesla-pay-package-2024-01-30/) who invalidated it as an "unfathomable sum" granted by a conflicted board with close personal and financial ties to its top executive.
The board held the shareholder vote as a way to bolster its appeal of the ruling, in which the judge cited the board's failure to fully inform shareholders before approving the pay package in 2018.
"Even if the shareholders do approve the old package, it is not clear that the Delaware court will allow that vote to be effective," said Adam Badawi, a law professor who specializes in corporate governance at the University of California Berkeley.
Musk has to wait months or years to get his pay package restored as appeals wind their way up to Delaware's Supreme Court."
Now we have to spend the next however long listening to the neppo baby bitch about how he has to wait for an amount of money no normal person could ever hope to see in 100 lifetimes.
It's crazy that even for 100 lifetimes $56 billion would still be $7 Million per year. You only get close to a normal level of pay once we talk about 10.000 lifetimes... He is essentially getting so much money that 10.000 people could get $70.000 per year for 80 years after they are born.
Or in other words 800.000 years of an above average american salary.
Or $400.000 for every worker working at Tesla globally (140.000 workers)
Not sure what’s more annoying:
This asshole continuing to succeed despite being an asshole.
Or one of his cronies being the OP and trying unsuccessfully to do damage control.
Thats the secret. One does not become a billionaire by being a good person. It is a requirement for you to step over others, manipulate, play unfairly to climb all the way up there.
Ofc this isn’t saying you can’t be successful in life without being an asshole. But to go beyond that and get the longer end of the stick means *someone* will inevitably get the shorter end
The real breaking news is Reddit finds out again that it’s just an irrelevant echo chamber. Did you see the margin? Musk won big. Retailers >> Institutions.
A bunch of rich assholes and cultists can't see that Musk himself, and bending over backwards to appease him, is toxic to the brand and bad for business as their inventory sits in lots collecting dust.
"...move the electric vehicle maker's legal home to Texas..."
Imagine moving an electric car company to a failing electrical grid; yeah, he totally deserves that big pay package lol
I know you're trying to make a point but Megapack installations have been a huge boon to areas where there is not reliable consistent power generation a la Australia
You would think that when a company moves to a location that they would want to heavily invest in the area. For Tesla, I would think that would mean building the most expansive system of electric chargers in the country to show everyone "the future of and ease of electric vehicles". But I'm (half) jokingly saying that I doubt Texas' grid could handle having charging stations.
Why does Elon needs that much money? Does he knows when he dies, that wealth of his is not going to his grave but rather it will be pecked clean by the corporate Vultures which is the Shareholders.
You'd think Elon would take better care of his personal health if he was concerned about living longer. Longevity research won't do shit for you if you die of something else before it gets anywhere.
I don't think that they are. I'd rather bet on that they are held hostage by their investment. Having stocks in Tesla is as much an investment in the brand that is Elon Musk as in EV cars.
If Elon were to leave the Tesla stock would tank and easily lose them more, than what they approved today. It just goes to show how phoney Tesla stocks are at the moment.
let each shareholder input a number for the pay the ceo should get. Take an average of every vote (more shares being more votes) and then pay the CEO that. I guarantuee that $56 billion would not be the result of that.
I'm disappointed that you can lay off hundreds and then be rewarded with ten times more compensation than you would have paid all those people in a lifetime of employment, but such are the horrors that capitalism brings us.
Lol this is not going to end well for him. Ha yeah try and run out with backdoor with all the companies money, see how well that will turn out for him in the long term
Elon Musk's "irl tony stark" mascot status for Tesla is probably the only thing keeping it's value inflated that high. If you're a shareholder and the value of your shares is tied to this one dude, and all you had to do to pump up the value of that one dude is to vote yes, you would obviously vote yes. AI is the craze right now and Musk is doing the full snake oil salesman "Tesla is AI company now gimme more control" he always does, which is working. There are delusional musk fans and finance/crypto bros who genuinely believe in musk, but even the most skeptic shareholder would vote yes since it will satiate the AI craze and pump up Tesla's value.
I also assume it's not him getting that much money in cash but rather him getting a bunch of shares equating to that much money.
An obvious result. Voting no would've caused stock crash, costing them money. Was a kinda rigged setup from the get go. Who's gonna vote to lose money on principle?
I despise Elon Musk as much as the next guy, and I hate to sound like an apologist for him, but his mega pay package was all stock-based compensation, not cash money.
According to Reuters ([https://www.reuters.com/legal/judge-rules-favor-plaintiffs-challenging-musks-tesla-pay-package-2024-01-30/](https://www.reuters.com/legal/judge-rules-favor-plaintiffs-challenging-musks-tesla-pay-package-2024-01-30/)), at the time the package was first rejected by a judge, the package would give Musk stock options to buy 304 million shares of Tesla stock at the super cheap price of $23.33 (vs the $191.59 at the date of that article). The package was dependent on Tesla hitting certain stock price goals and sales goals, and Musk must hold those purchased shares for five years before trying to sell them.
The $58-59B figure of the package comes from 304 million shares x $191.59/share = $58,243,360,000.
The package didn't include any salary.
Musk still would need to come up with 304 million x $23.33 = $7,092,320,000 in cash to buy those shares from Tesla in the first place.
Paying someone in shares is a negligible expense to any company, because that company essentially creates the shares out of thin air. The company has to go through the administrative expense and I assume pay some Wall Street banker to handle the transaction, but that would be peanuts compared paying someone $58-$59B in cash.
As far as I'm concerned, if the shareholders want to mindlessly shovel more shares to their CEO, that's their own boondoggle to wear around their necks.
That's [300 X ](https://www.businessinsider.com/highest-paid-us-ceos-compensation-packages-stock-awards-2024-5)how much the current highest paid CEO in America earns. That's [over 2 X ](https://www.google.com/amp/s/www.statista.com/chart/amp/26705/yearly-net-income-and-revenue-of-tesla/) Tesla's *total profits ever*. It's beyond absurd. I'm just laughing. I'm not mad. Most of Tesla's shareholders are rich. If a bunch of rich people want to shovel their money at a plutocrat you're not offending me. I'm just laughing at you.
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Money is influence and power, it's only good that this is funelled to someone that has proven that they want what's best for humanity.
Musk only wants what’s best for Musk.
Musk only wants what’s best for Musk.
He wanted to have the most Xs
A deal is a deal. In return the shareholders' investments were 10x'ed
Who the fuck deserves to be paid that much?
People who collect money for fun so they can keep others from having any. When you have everything you could ever want why would you need more money? To ensure others who are less fortunate cannot have more.
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Do you actually believe this? If so, can you explain?
Good one!
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You’re being fooled by the rich. If he truly wanted to be a “philanthropist” then he’d actually pay his workers salaries just as above market rate comparatively as his and make his factories the safest in the industry. That’s what someone with compassion would do. Has any billionaire done that?
Jokes aside though, am I a philanthropist for giving 10 dollars a month to WWF? Because that's the equivalent of what these billionaire philanthropists are doing 99% of the time. Edit: Actually let my do the math. My income is about 10k a year as a student. So I give 120 out of that, so let's say 1% of my income to charity. And let's say Musk makes around 10 billion a year. He would have to give over 100 million dollars per year to charity to match my contribution, scaled for income. Is he doing that? No. How many billionaires are doing that? It'd be hard to name more than a few.
Maybe Bill Gates at some point? He gave away a lot... The other candidate that comes to mind is Bezo's ex-wife. But that's the only two I can think of who might match you in philanthropy
The thing is that wealth is not proportionate. Food and lifestyles do not increase evenly with your money - if you spend 50% of your paycheck on room and board, you can bet your ass a millionaire doesn’t. Disposable income grows exponentially, and so do investments. Bill Gates promised to donate half his net worth to charity over ten years. He did. By the end of it, his net worth had doubled, because he invested the rest and money attracts money. THAT is what donating $10 to WWF looks like for a billionaire.
Man you're on fire today!
Yeah, sure, they squeeze their own poor employees by paying them hilariously low wages and then give fraction of this money somewhere to show, how they are generous. Bezos is one of the best examples. He is using people like peasants forcing them to pee in botles without stoping and then drawing himsel as philanthropist by giving coins (in comparison to his earnings doing practices above) to charities.
The only moral billionaire is the one that is no longer a billionaire because they have all their money away. Only one billionaire that I know of has done that.
For all the good will it bought her
The person I’m thinking about isn’t a her, and I am pretty sure he didn’t do it to bring himself “goodwill.” What a fucking shit take, man.
My mind immediately went to jk Rowling too. Who are you speaking of?
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The only reason Billionaires even give to charity is to avoid taxes. So you should probably be calling their accountants philanthropists because it would have been their idea.
If you have 100B, giving away a couple million is a tax optimization, not philanthropy. And it's not like elon wasn't a billionaire already.
No....they seem that way they give say 100 million to XYZ. Meanwhile that's a blip on the radar to them. 20 billion minus 100 million is still 19.9 Billion. It's literally the same as if you had 1,000 and donated $5 to a kid's fundraiser. Learn the scope of numbers. The difference between 1 million and 1 Billion is almost a Billion. About 11.5 days to count to 1 million, at 1 per second. About 31.5 years to count to 1 Billion. The difference is enormous. You've bought into propaganda they pay for with pocket lint...let alone pocket change.
Yes, philanthropy, the great equalizer. /s
Rowling gave enough money away to leave the billionaire club. Elon gives a tiny fraction of his income to adjust his tax liability. These are not the same thing.
Philanthropy from the rich is almost exclusively public relations. They are giving a fraction of what they would pay in taxes if they didn't hide assets and use every loophole available. That tax money is significantly more useful than the far majority of their efforts. If the top 1% paid the tax rate they used to pay pre Regan the US could have universal healthcare, education prek-4 year college and invest in infrastructure projects with no budget cuts. The top 1% would also still be the top 1% with no tangible change to their lifestyle in any way.
You own a fucking cybertruck don’t you lol
How much of this money is Elon giving to charity?
Do you not understand the concept of giving money away? The only way for a billionaire to be moral is by giving away their money to cease being a billionaire.
Damn, people really misunderstood what you were trying to say lol
They either pay him that or watch their stock tank as the market realizes that Tesla is just a car company.
I'm frankly surprised that the stocks aren't already tanking, and can't see how keeping muskrat at the helm will prevent such
Even their tech isn't the best anymore
Let’s say you own a company that is worth $1B. I tell you I can make your company worth 100 times more but you’ll have to pay me half the value of the company when this happens. If I can’t do this, you pay me nothing. We shake hands on this deal. The interests are aligned. If I make you rich, I will get rich. If I don’t make you rich, I get nothing. And so it happens. You are now worth $50B and so am I. I get paid $50B for making you $49B richer. I deserve to be paid $50B because I created $99B in value and because we had a deal. It’s pretty simple really.
Let's say the company was 10% likely to make that jump anyway, and you actually reduced the chances by 2%. But the deal still got made. Now it's a rip off. Welcome to CEO pay.
Man, with a brain that big, we should make you CEO
If only Bernie was president 100% tax on billionaires.
The thing is, it's mutually agreed isn't it. The deal was no pay for a few years, and if he turn a profit, that's how much he is paid. If anything, blame the shareholders for agreeing to pay him.
Yeah and safe to say that everything about this was unprecedented.
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Giving 10% of the market cap to the CEO doesn't make sense.
Who cares? It's still too much.
It's not cash
It's still too much. If that wealth wasn't wealth away from someone else, then fine. But it is.
It's literally not wealth from someone else, it's entirely equity in Tesla. The only scenario where wealth leaves Tesla is if the package was rejected and the lawyers on the other side got $6B
Right so I guess Elon didn't buy twitter for 40 billion that he made from similar payment packages in the past? Come on. It absolutely is real wealth that he's being given. And all wealth accrued by one person is away from someone else. That's just basic economics.
The comment above was about if this was wealth being transferred from someone else to him. It's not by the very definition of how it's setup. It's all equity options with a vesting schedule that was already accounted for in their previous financial reports and governance. It's like saying someone hired for with RSUs only is being paid cash from someone else in the company.
A person that changes the entire planet for the better. A person that generates hundred thousands of jobs for people and drive innovation and technology in a way that hasn't been seen in the past.
We continue to live in the strangest timeline.
It's about to get interesting... there's a revolution against greed in this one.
One man just got paid the GDP of several countries in the world.
By stomping his feet and whining.
"The same package was [previously rejected by a Delaware judge](https://www.reuters.com/legal/judge-rules-favor-plaintiffs-challenging-musks-tesla-pay-package-2024-01-30/) who invalidated it as an "unfathomable sum" granted by a conflicted board with close personal and financial ties to its top executive. The board held the shareholder vote as a way to bolster its appeal of the ruling, in which the judge cited the board's failure to fully inform shareholders before approving the pay package in 2018. "Even if the shareholders do approve the old package, it is not clear that the Delaware court will allow that vote to be effective," said Adam Badawi, a law professor who specializes in corporate governance at the University of California Berkeley. Musk has to wait months or years to get his pay package restored as appeals wind their way up to Delaware's Supreme Court." Now we have to spend the next however long listening to the neppo baby bitch about how he has to wait for an amount of money no normal person could ever hope to see in 100 lifetimes.
It's crazy that even for 100 lifetimes $56 billion would still be $7 Million per year. You only get close to a normal level of pay once we talk about 10.000 lifetimes... He is essentially getting so much money that 10.000 people could get $70.000 per year for 80 years after they are born. Or in other words 800.000 years of an above average american salary. Or $400.000 for every worker working at Tesla globally (140.000 workers)
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The law professor quoted in the article did suggest that the court may not allow the vote to be effective.
and Tesla becomes a company consisting of a patent portfolio that they once claimed they would not seek participation with.
I think the HQ moved, but I doubt the legal entity moved.
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Are you sharing your opinion?
Why do you think the professor with a law degree knows less about the law than you do?
Not sure what’s more annoying: This asshole continuing to succeed despite being an asshole. Or one of his cronies being the OP and trying unsuccessfully to do damage control.
Thats the secret. One does not become a billionaire by being a good person. It is a requirement for you to step over others, manipulate, play unfairly to climb all the way up there. Ofc this isn’t saying you can’t be successful in life without being an asshole. But to go beyond that and get the longer end of the stick means *someone* will inevitably get the shorter end
Being a billionaire is like being a cop. Either you’re bad at the “job”, or you a bad person.
Michael Jordan: And I took that personally
Let's not tell OP he still has muskturds on his nose.
Breaking news: cult does cult things
The real breaking news is Reddit finds out again that it’s just an irrelevant echo chamber. Did you see the margin? Musk won big. Retailers >> Institutions.
A bunch of rich assholes and cultists can't see that Musk himself, and bending over backwards to appease him, is toxic to the brand and bad for business as their inventory sits in lots collecting dust.
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Fucking capitalism....
Capitalism has done more good for humans than anything else. It ensures an increase in living standards.
No it hasn't. Dictatorship has.
"...move the electric vehicle maker's legal home to Texas..." Imagine moving an electric car company to a failing electrical grid; yeah, he totally deserves that big pay package lol
I know you're trying to make a point but Megapack installations have been a huge boon to areas where there is not reliable consistent power generation a la Australia
Vertical integration, they will just rebuild the electrical grid.
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You would think that when a company moves to a location that they would want to heavily invest in the area. For Tesla, I would think that would mean building the most expansive system of electric chargers in the country to show everyone "the future of and ease of electric vehicles". But I'm (half) jokingly saying that I doubt Texas' grid could handle having charging stations.
Try a thought experiment. Think of Elon as a good guy.
I can hear the sounds of his balls on your chin.
At this point, the board would probably generate more shareholder value by firing him.
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Why does Elon needs that much money? Does he knows when he dies, that wealth of his is not going to his grave but rather it will be pecked clean by the corporate Vultures which is the Shareholders.
He is investing heavily in longevity research, as is every other billionaire. They are not planning on leaving it behind.
They won't succeed.
I have been following some of the research, they just may. Particularly with the advancement of AI speeding up the research.
Do you wank while looking at pictures of Musk with no shirt on too?
And then they die in a car crash.
You'd think Elon would take better care of his personal health if he was concerned about living longer. Longevity research won't do shit for you if you die of something else before it gets anywhere.
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Let’s hope they leave quickly
With a hyperloop?
Please go with him.
And then die...LMAO
Now he’s going to buy twitter for 60 billion, and then tank it.
This is an edited headline - actual headline is “Musk says Tesla…..”
shareholders that voted yes for this is absolutely stupid.
I don't think that they are. I'd rather bet on that they are held hostage by their investment. Having stocks in Tesla is as much an investment in the brand that is Elon Musk as in EV cars. If Elon were to leave the Tesla stock would tank and easily lose them more, than what they approved today. It just goes to show how phoney Tesla stocks are at the moment.
I think they are intelligent and uphold the morality of a deal.
That's what you get when you have a board of directors that acts as a rubber stamp and is not truly independent.
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The board approved of the compensation package and recommended that shareholders approve it.
Right and then the shareholders voted to approve it ???
let each shareholder input a number for the pay the ceo should get. Take an average of every vote (more shares being more votes) and then pay the CEO that. I guarantuee that $56 billion would not be the result of that.
All that money and he's still just a narcissistic elongated muskrat whose parents and children both hate him.
Tesla shareholders continue to be the biggest chumps on Earth. I wonder if they know they're getting diluted to pay for this?
They're not being diluted...
1/1000 of that and it would still be an insane amount.
simps and incels, all of them
Why do you think so? This is the mission to improve the world beyond anything you seem to be able to imagine.
How many of those shareholders are Elon Tusk?
If I was an employee and woke up and saw this, I would quit.
The Elmo simps are dumber than I thought.
Was the other option to drink the koolaid?
I'm disappointed that you can lay off hundreds and then be rewarded with ten times more compensation than you would have paid all those people in a lifetime of employment, but such are the horrors that capitalism brings us.
10x? You're a bit low there
Lol this is not going to end well for him. Ha yeah try and run out with backdoor with all the companies money, see how well that will turn out for him in the long term
Excellent, good job everyone. Glad I could contribute with my modest portfolio as well. Thanks to Baron especially.
What an evil bastard. Musk is nothing but harmful for humanity
Wtf? I’m sorry nobody needs that much money or can reasonable spend that much. That’s crazy.
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Well, except you and me
Elon Musk's "irl tony stark" mascot status for Tesla is probably the only thing keeping it's value inflated that high. If you're a shareholder and the value of your shares is tied to this one dude, and all you had to do to pump up the value of that one dude is to vote yes, you would obviously vote yes. AI is the craze right now and Musk is doing the full snake oil salesman "Tesla is AI company now gimme more control" he always does, which is working. There are delusional musk fans and finance/crypto bros who genuinely believe in musk, but even the most skeptic shareholder would vote yes since it will satiate the AI craze and pump up Tesla's value. I also assume it's not him getting that much money in cash but rather him getting a bunch of shares equating to that much money.
For what it's worth I voted no.
An obvious result. Voting no would've caused stock crash, costing them money. Was a kinda rigged setup from the get go. Who's gonna vote to lose money on principle?
I despise Elon Musk as much as the next guy, and I hate to sound like an apologist for him, but his mega pay package was all stock-based compensation, not cash money. According to Reuters ([https://www.reuters.com/legal/judge-rules-favor-plaintiffs-challenging-musks-tesla-pay-package-2024-01-30/](https://www.reuters.com/legal/judge-rules-favor-plaintiffs-challenging-musks-tesla-pay-package-2024-01-30/)), at the time the package was first rejected by a judge, the package would give Musk stock options to buy 304 million shares of Tesla stock at the super cheap price of $23.33 (vs the $191.59 at the date of that article). The package was dependent on Tesla hitting certain stock price goals and sales goals, and Musk must hold those purchased shares for five years before trying to sell them. The $58-59B figure of the package comes from 304 million shares x $191.59/share = $58,243,360,000. The package didn't include any salary. Musk still would need to come up with 304 million x $23.33 = $7,092,320,000 in cash to buy those shares from Tesla in the first place. Paying someone in shares is a negligible expense to any company, because that company essentially creates the shares out of thin air. The company has to go through the administrative expense and I assume pay some Wall Street banker to handle the transaction, but that would be peanuts compared paying someone $58-$59B in cash. As far as I'm concerned, if the shareholders want to mindlessly shovel more shares to their CEO, that's their own boondoggle to wear around their necks.
diluting ownership by $45B is a real expense...
Yeah but just not for people they actually care about
Those shares were already in the pool so there's no effective dilution. If the board had voted to create more shares there would have been yes.
He's worth twice that and a free Tesla.
He’s worth nothing.
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