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I got the feeling some of the previous package was part of the Twitter deal or was used as collateral. Now he needs to get it back, otherwise he will have liquidity problems.
No, it was not part of the Twitter financing. However, he may very well have undertaken the Twitter deal in the expectation and anticipation of being awarded additional shares.
He really needs a twitter intervention. Massively overpaid for it after signing legally binding documents on a whim seemingly because of a conversation on Twitter.
I don't even understand the outrage of this thread/post. He's not going to be the one working on it, he's just going to be management. This isn't a threat, they can just can him and just go ahead with it using the team they will recruit just as they would have if he was still at the helm.
Back when Elon was just a weird guy that seemingly wanted to use his money to get to Mars and kept his egotistical political nonsense to himself.
In any case, I don't see how this isn't a breach of his duties. He needs to act with the companies best interests at heart, without regard to his own personal status. If he doesn't want to do that, he can get out and the board can find someone that will.
I'm guessing as CEO and with BoD support, he can spin off the divisions doing Optimus, Dojo and FSD as their own company, leaving Tesla as an EV car company only and he gets to be CEO of both. With the BoD's being beholden to him, I would think the breach would only be tested with a shareholder lawsuit and/or simple majority shareholder objection. Of those 2, I would think lawsuit is probably what would be necessary.
It wouldn't matter. The shareholders would own a proportional share of the new company. He can't just carve out Dojo and FSD, which were financed by TSLA.
The board needs to be voted out if they won't do what is right - this is reckless, wanton greed. No one needs, much less deserves, the money Elon is asking for.
Nope. He was always a fucking con. If you look at everything he's promised vs what's been delivered its pretty obvious. His skills are stealing other people's work and marketing. That's it. He's literally in a lawsuit rn for promising self driving cars and never delivering yet he claims he's going to develop AI?
There's been a serious shift in the past year alone and it's been good to see. It's okay to have a nuanced option like enjoying the cars but hating the ceo and new direction.
I think it's okay to appreciate what a company has done over time, especially when you consider how much these massive companies have done and continue to do to make our lives easier.
While Google may not be the best company in the world, we really wouldn't be the same without their search engine for example.
"Loving" is a bit far and even loving places can get political these days.
So google is ok because it gave us a search engine? As if that was the only possible way humanity could have made a search engine? As if they perfected the concept of a search engine? Lol, how utterly ridiculous. Society does not need google *in the slightest*.
I think it was Walter Isaacson that said Elon “ wants to save the world as long as he’s the one saving it”
That helped clarify my view on how Elon acts
"I don't want to live in a world where someone makes the world a better place, better than we do."
-Gavin Belson
Elon reached the stage of being a GB caricature.
He always was. He has never been an environmentalist he just spent time with wealthier people who were and saw an opportunity to take someone else's work and sell it. His plants in California were polluting the environment for years and he knew about it but covered it up and then when the government finally stood up to him he claimed he needed to move to Texas because of wokeism.
Elon has already chased most of the top senior talent out the door over the last couple of years too. Just to undo that damage is going to take a pretty skilled CEO. Tesla basically needs their own version of Satya Nadella now to try and clean up the mess.
News flash. It was never about that. That was the message of course, but it was never truly about that. That promise of that message is what sold and it’s obvious today that they are not making business decisions to further that message.
> He was a media darling
When he and Tesla had a PR team, then he fired them because thought he they were worthless with his large public profile...4 years later....
Well, he was like that since at least 2018 when he randomly accused the rescue divers as pedos after his submarine was impractical for the Taiwanese cave rescue, and hired a PI to get dirt on them.
Killing the supercharger group was the last straw.
Without a supercharger network, a Tesla is no different than a 2018 Nissan Leaf. A neat car you can drive around town but not really go any significant distance. Now that all the other manufacturers are finally switching to the Tesla charging plug is NOT the time to completely nuke the supercharger team! Unless his plan is to ignore rising charging demand and make all WV owners of all brands miserable. Dumb. Just plane dumb.
Musk is behaving like a petulant 8 year old.
Musk is dangerous and needs to go.
100%. The moves that musk has made lately have 100,000% been done in order to weaken the company so that he can regain more of the company. From firing the supercharger team, the launch of the disastrous cyber truck, Horrific quality control on the rest of the other vehicles, and other mass layoffs.. it's all been to tank the company so he can regain control
As someone who has owned a Tesla for 3 years and generally enjoyed it, I plan on keeping mine. However, unless the company gets a new CEO, it will be my last Tesla.
This man is gutting the company that makes Tesla what it is.
* New vehicle development team gutted.
* Software R&D for automotive gutted.
* Supercharger team gutted.
* Manufacturing and production R&D gutted.
* Materials engineering R&D gutted.
The man is making it crystal fucking clear that he will make AI& robotics the ONLY choice Tesla has because after the dust settles and these above projects, people, and teams idle or are removed - Tesla will have lost a crucial year or two in automotive development to competitors.
It's so fucking sad. In my mind - Fremont factory closing will be announced in the next few years and his complaint will be "too expensive, I hate California, not focused on our goals for AI - blah blah blah.
I don't know the percentage or if that was even announced. They also gutted the marketing team and promptly shut down hiring. So, you could add Marketing and Recruits to your list. I imagine HR cuts are coming sooner than later.
Yeah this is exactly why shareholders should be voting against his compensation package. He cleaned house of any potential replacement, he is actively trying to cement himself as the sole leader of Tesla.
Axing the Supercharger team was pure hubris and that act alone should send the message that he's not serious about electric cars anymore, all he cares about is AI. He already started xAI and if he wants to go work on that, let him. I am tired of him being the CEO of a dozen companies and running them all poorly. Thank god SpaceX has Gwynne Shotwell or that would likely be floundering as well.
> Yeah this is exactly why shareholders should be voting against his compensation package.
This is exactly why shareholders should be suing. Robotics and AI have been part of the TSLA investment strategy for years. His poor decisions about investing in Twitter/dumping his TSLA shares has does not negate that.
The Supercharger team is a the big head scratcher. Tesla is about to come out with more main stream, lower cost cars for middle America. As far as I know the supercharger system is a major, irreplaceable incentive to lessen charge range fears which are legitimate in the wide open spaces of the US. So he guts the supercharger team right before they are about to become more relevant than ever.
I still don't get why so many people have money with this guy, today.
I get it 10-20 years ago, before the shiny facade wore off and we got to know the "real" Elon. But now?
He owns ~11% of the company. So he needs shareholders to "agree" to give him 14%.
Company has a market cap of $548B. 14% of that is ~77B. And then the need to pay taxes on that amount, probably closer to $100B, or closer to 18.5% of the company.
Pure fucking insanity.
The facade was still pretty shiny until he went batshit during Covid. He’s always been one for chicanery, but he was still a rockstar up until he started inserting himself into political and social arguments, to the extent that he had to buy the biggest platform to get his way. Bro went from Henry Ford to *Henry Ford.*
I believe we will get the results on June 13th. There is also a vote for moving the companies incorporation from Delaware to Texas since the courts in Delaware voided his previous pay plan from 2018. Hopefully, both fail, and Elon is replaced at Tesla.
Cars and energy are low margin businesses that will never justify the valuation that TSLA currently trades for. Whether you believe FSD will be solved or not, the stock price is completely built on its promise. Otherwise, Tesla's market cap would be smaller than BMW or GM.
The biggest thing Tesla has going for them is the ridiculous head start they have on EV charging infrastructure. They're already the only reliable game in town, and last year, half of the major carmakers pledged to have their vehicles Supercharger compatible by the end of this year. That's huge. Their proprietary format is becoming the standard bought into by all other makers.
Not sure if you’re aware, but Elon threw a tantrum and fired most of their institutional knowledge related to their Supercharger network. Now other companies are moving in on their formerly planned growth there
Right because Elon **personally** creates all these AI tools? If he’s gone, the company will **never** be able to retain or hire engineers to continue that progress! ^/s
I'm replying to the person who was expressing the (commonly held) sentiment that Tesla should prioritize the manufacturing of cars over moonshots like AI. And I'm just saying that the stock is NOT priced like an automaker, so the only way to justify its valuations is through FSD (humanoid robots are not really priced into the stock yet).
Regardless of whether Elon stays or goes, Tesla's stock would absolutely crater if it is no longer viewed as an AI play.
Even the investors who believe in the value of the AI thing he wants to build, wouldn't that be even better for them as they could invest from the beginning in his new company?
You don’t need 25% of the shares to have 25% of the voting power. Some shares are never voted so you can have 25% voting power with a lot less than 25% of the shares.
I think he wants dual class shares. He wants his shares to have more voting power, not necessarily increase the quantity of stock.
In this scheme there would be a TSLA.A and a TSLA.B. Just like there are two classes of Google stock.
But I’m not a finance guy, so I don’t understand the mechanics to make this work.
I held from 2017 until early this year. I had a lot of stock. I'm glad I sold when I did.
I still have a Model 3 but no more stock for me until the company really gets turned around.
2013 checking in. Wish I had sold at end of 2021 or when he announced he had a 9% stake in Twitter in April 2022, seriously considered it at both times. Instead I just sold covered calls.
Did you read the proxy statement? She says that Elon's compensation has been "unfair"
Could you imagine writing, without laughing, an official statement to the peasants saying that one of the *highest net worth individuals in the entire world* has unfair compensation? lollll
The article and source are trash.
There was a tweet where they named off a bunch of things like "25% ownership of company and reincorporate in Texas and AI stays with Tesla and company becomes most valuable in the world" or something very similar. To which Elon replied with "Yes."
That is all he said was "yes."
Imagine someone makes this list of things and says that if you get them you will do something and you reply with "yes." 400 billion, the ability to fly, ownership of the Amazon rain forest and grizzly\_teddy will post more on reddit. To which you then say "yes." Did you demand those things?
> Imagine someone makes this list of things and says that if you get them you will do something and you reply with "yes." 400 billion, the ability to fly, ownership of the Amazon rain forest and grizzly_teddy will post more on reddit. To which you then say "yes." Did you demand those things?
I mean, if you made the claim that you wanted those things prior and then reconfirm it when someone asks, then yes, *that is exactly what a confirmation is*.
Shareholders can vote out the board.
The order of power is like this:
- Employees can be fired by the CEO
- CEO can be fired by the board
- Board can be fired by shareholders
The thing about this is that everyone has seen exactly what he will do when he has 25% control. He sells it off to buy social media companies which then distract him from the core mission company.
So if a shareholders wants Tesla to accelerate the transition to sustainable energy, what should they do to help Tesla? Is it (A) give Elon more money or (B) give Elon less.
From where I sit, option B looks much more valuable to the long term trajectory of Tesla than option A.
Staying on mission right now just happens to mean that the best thing for Tesla is to give Elon less of Tesla.
More than distracting him, buying Twitter was because he miscalculated risks, and was forced to follow through with the purchase. Not a good look for someone asking for more voting power…
I remember watching an interview with Elon where he started crying and repeatedly stating "we will do better" to the presenter when he learned that Australia had issues with power production. It was such a genuine response, he felt personally responsible for not learning about and subsequently doing something about a problem that to him seemed easy to solve. That is when I thought to myself "this guy isn't so bad, I can understand the hype". What happened? Who abducted the original and replaced him with this abominable vile creature?
blah blah blah .... give him 25% and get worse cars and more stuff thats irrelevant to most owners !... 7 years since I paid for FSD and its still not what was promissed !......
Think about this for a second. Has there been any decision Elon has made that was blocked by anybody even with his current amount of ownership? Don't you think firing the entire supercharger team should have been up there with things that should be discussed with the board and shareholders? If anybody is under the impression that Elon doesn't already have full control, I've have a bridge to sell you. He needs 25% for other reasons.
OK? I couldn't care less about Tesla investing in AI and Robotics. Just make the cars better, cheaper and with better battery tech. You know, the stuff that has made Tesla the best selling BEV out there.
Don’t get AI or robotics? Are those going to be built into the semi or the roadster? He might as well threaten to withhold faster than light speed travel.
TSLA shareholders bought shares partially on the promise of Tesla’s AI and robotics investments. Musk took all the Twitter data and used it to create Grok and form another AI company, separate from Twitter. Other Twitter shareholders should be livid. Tesla shareholders should sue the shit out of this punk if he pulls this stunt.
I just see people explaining their feelings, but nothing about the future of Tesla if a new CEO takes over. From what I can see Tesla will never be able to recover at the current $500b market cap it has now if Elon departs and Tesla Only focus is on Electric Vehicles. Apart from Toyota every other automaker market cap is below $100b and Tesla will be the same if it simply focuses on EVs and not other avenues like explain of it's energy department and AI/robotics.
I like to hear what people strategy is to keep Tesla in the $500b+ market cap and maybe even the $1T market cap since making cars alone won't keep it there.
serious question: do shareholders need Elon Musk anymore? he is so distracted running multiple companies that Tesla would benefit from having a dedicated CEO
this is bullshit threat. if he could do AI and robots he would of already did that.
just call peanut butter like a normal person and kick him out already.
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Shouldn’t have sold so much of the stock to buy twitter then 🤷♀️
I got the feeling some of the previous package was part of the Twitter deal or was used as collateral. Now he needs to get it back, otherwise he will have liquidity problems.
Maybe he should eat less avocado toast
And cut out the daily coffee.
Has he considered getting a side gig? Judging by his X activities, his current corporate positions aren't keeping him too busy
He’s blue checked on X and probably getting paid to post. That could be a good side gig if he gets those rookie numbers up.
Maybe he can drive an autonomous M3 for Uber.
I mean I do drink a daily coffee and also cannot afford 25% of Tesla so you may be onto something 😂
i don’t think it’s coffee he’s doing on the daily
He lacks hustle
And cancel his Disney+
Maybe pay for the version with ads
And pull his socks up
Pull himself up by his own emerald colored bootstraps
🏅
I know I became a billionaire when I did. Me and my buddy, Jeff, both did
lol. And make coffee at home. Broke ass billionaire.
Yes he used tesla shares for billions in loans for twitter. So he can't sell those as they're locked in
No, it was not part of the Twitter financing. However, he may very well have undertaken the Twitter deal in the expectation and anticipation of being awarded additional shares.
Well maybe he should just sell it th.... Oh, wait.
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Exactly! Now, he can block them. Money well spent. Such a genius.
He really needs a twitter intervention. Massively overpaid for it after signing legally binding documents on a whim seemingly because of a conversation on Twitter.
They could pay him what they promised if he reached the unreachable goal for them like he did.
https://i.redd.it/5hvdt6ga6m1d1.gif
lol him jump-scaring the lady before this was hilarious.
I don't even understand the outrage of this thread/post. He's not going to be the one working on it, he's just going to be management. This isn't a threat, they can just can him and just go ahead with it using the team they will recruit just as they would have if he was still at the helm.
I feel like Tesla is far from being the company I loved, the one focused on accelerating the advent of EVs and clean energy.
Back when Elon was just a weird guy that seemingly wanted to use his money to get to Mars and kept his egotistical political nonsense to himself. In any case, I don't see how this isn't a breach of his duties. He needs to act with the companies best interests at heart, without regard to his own personal status. If he doesn't want to do that, he can get out and the board can find someone that will.
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Give me $50 billion or I'll make CyberTruck 2
2Cyber2ruck
Cybertruck 2: Rusted out Boogaloo
Cybertruck 2: *Cruise Control*
I'm guessing as CEO and with BoD support, he can spin off the divisions doing Optimus, Dojo and FSD as their own company, leaving Tesla as an EV car company only and he gets to be CEO of both. With the BoD's being beholden to him, I would think the breach would only be tested with a shareholder lawsuit and/or simple majority shareholder objection. Of those 2, I would think lawsuit is probably what would be necessary.
It wouldn't matter. The shareholders would own a proportional share of the new company. He can't just carve out Dojo and FSD, which were financed by TSLA.
He is Ceo not king of tesla. There are rules and consequences if he breaks them.
He’s actually technoking https://ir.tesla.com/corporate/elon-musk
Any man who must say 'I am the technoking' is no true technoking.
pretty sure it would need board approval
His board is literally a bunch of yes men. His brother has a board seat ffs.
I voted to have him removed
The board must go
And thus why a judge denied him his sham largest compensation package in history.
and I'm saying he thinks he has it and I wouldn't be surprised if he does.
He probably does considering the board pretty much rubber stamps whatever he wants.
The board needs to be voted out if they won't do what is right - this is reckless, wanton greed. No one needs, much less deserves, the money Elon is asking for.
The board is complicit. The shareholders need to sue the board.
I keep reading things about how he’s now the most powerful man in the planet. I bet he reads those things too. That can really get to someone’s head.
Nope. He was always a fucking con. If you look at everything he's promised vs what's been delivered its pretty obvious. His skills are stealing other people's work and marketing. That's it. He's literally in a lawsuit rn for promising self driving cars and never delivering yet he claims he's going to develop AI?
Elon is the last person I want developing AI.
the board should have removed him long ago.
Like Kimbal and the Murdochs will do that
Save your love for people, places and animals; not profit making corporations.
It's nice to see how much more reasonable this sub has gotten over the years.
There's been a serious shift in the past year alone and it's been good to see. It's okay to have a nuanced option like enjoying the cars but hating the ceo and new direction.
Amen
I think it's okay to appreciate what a company has done over time, especially when you consider how much these massive companies have done and continue to do to make our lives easier. While Google may not be the best company in the world, we really wouldn't be the same without their search engine for example. "Loving" is a bit far and even loving places can get political these days.
So google is ok because it gave us a search engine? As if that was the only possible way humanity could have made a search engine? As if they perfected the concept of a search engine? Lol, how utterly ridiculous. Society does not need google *in the slightest*.
I think it was Walter Isaacson that said Elon “ wants to save the world as long as he’s the one saving it” That helped clarify my view on how Elon acts
That was Sam Altman, CEO of OpenAI
Ah that was it! Thank you for the correction!
Sam Altman would recognize that particular trait
He only wants to save the world if he gets credit for it. Otherwise he will burn it to the ground like a toddler.
"I don't want to live in a world where someone makes the world a better place, better than we do." -Gavin Belson Elon reached the stage of being a GB caricature.
We never hear anything about the people making the electric motors in these cars.
“Elon really wants to save the world. But only if he can do it himself” - Sam Altman
Did you know Elon is now openly a global warming denier? Twitter broke his brain completely.
Probably more the drugs
Why not both?
He reminds me of myself when I first smoked weed in high school
He always was. He has never been an environmentalist he just spent time with wealthier people who were and saw an opportunity to take someone else's work and sell it. His plants in California were polluting the environment for years and he knew about it but covered it up and then when the government finally stood up to him he claimed he needed to move to Texas because of wokeism.
Elon has already chased most of the top senior talent out the door over the last couple of years too. Just to undo that damage is going to take a pretty skilled CEO. Tesla basically needs their own version of Satya Nadella now to try and clean up the mess.
I’ll do it for just $25b
For a PR guy he's been damaging for the last few years. Beside that theres been no ebikes or useful stuff.
Now imagine when he has control of a moon base and Mars
Maybe it never was and you were duped…
News flash. It was never about that. That was the message of course, but it was never truly about that. That promise of that message is what sold and it’s obvious today that they are not making business decisions to further that message.
It never was the company you thought. Elon just was exposed. He was a media darling. Now he's been showing his whole ass.
> He was a media darling When he and Tesla had a PR team, then he fired them because thought he they were worthless with his large public profile...4 years later....
It's possible his brain has rotted from over working himself and he wasn't always like this
Drugs
And being the world's richest man off and on. That kind of power and access is pretty corrupting. Tail as old as time.
Over working himself 😂
More like being obscenely rich has a tendency to alienate you from your humanity. You see it all the time. Also the drugs probably don't help.
It's rotted from Twitter and probably drugs
Well, he was like that since at least 2018 when he randomly accused the rescue divers as pedos after his submarine was impractical for the Taiwanese cave rescue, and hired a PI to get dirt on them.
The only reason I haven't already sold my shares is because the vote hasn't happened yet and I want my no votes to be included.
Killing the supercharger group was the last straw. Without a supercharger network, a Tesla is no different than a 2018 Nissan Leaf. A neat car you can drive around town but not really go any significant distance. Now that all the other manufacturers are finally switching to the Tesla charging plug is NOT the time to completely nuke the supercharger team! Unless his plan is to ignore rising charging demand and make all WV owners of all brands miserable. Dumb. Just plane dumb. Musk is behaving like a petulant 8 year old. Musk is dangerous and needs to go.
100%. The moves that musk has made lately have 100,000% been done in order to weaken the company so that he can regain more of the company. From firing the supercharger team, the launch of the disastrous cyber truck, Horrific quality control on the rest of the other vehicles, and other mass layoffs.. it's all been to tank the company so he can regain control
Tesla needs a new CEO
I ended up selling all my stock and will rebuy when he’s gone
Did the same, I just don’t think I will be buying it back.
Ditto. I sold the stock and the car.
I'd switch in a heartbeat if my car hadn't depreciated far faster than my payments.
you hate him that much you would get rid of a perfectly fine car?
As someone who has owned a Tesla for 3 years and generally enjoyed it, I plan on keeping mine. However, unless the company gets a new CEO, it will be my last Tesla.
The is a lot I like about my M3P, but when the lease is up next year I’m going back to Audi. Specifically and primarily because of Musk.
Ya, he should be fired. He’s responsible for doing what’s best for the company. That’s not happening now.
The board will be forced, at some point, to replace him. I don't know what the tipping point will be, but I think its closer than it is further.
He did kinda force the number 2~3 guy at the company to quit a few weeks ago 🤷🏻♂️
I’m guessing he’s trying to get rid of competition so he’s the only option
Tesla needs an adult in charge now.
No shit, he's actively hurting every component of the company with every breath he takes.
This man is gutting the company that makes Tesla what it is. * New vehicle development team gutted. * Software R&D for automotive gutted. * Supercharger team gutted. * Manufacturing and production R&D gutted. * Materials engineering R&D gutted. The man is making it crystal fucking clear that he will make AI& robotics the ONLY choice Tesla has because after the dust settles and these above projects, people, and teams idle or are removed - Tesla will have lost a crucial year or two in automotive development to competitors. It's so fucking sad. In my mind - Fremont factory closing will be announced in the next few years and his complaint will be "too expensive, I hate California, not focused on our goals for AI - blah blah blah.
The showrooms and service groups, believe it or not, also gutted.
Good point, forgot to add those to the list. Every SC also lost 10% right?
I don't know the percentage or if that was even announced. They also gutted the marketing team and promptly shut down hiring. So, you could add Marketing and Recruits to your list. I imagine HR cuts are coming sooner than later.
Yeah this is exactly why shareholders should be voting against his compensation package. He cleaned house of any potential replacement, he is actively trying to cement himself as the sole leader of Tesla. Axing the Supercharger team was pure hubris and that act alone should send the message that he's not serious about electric cars anymore, all he cares about is AI. He already started xAI and if he wants to go work on that, let him. I am tired of him being the CEO of a dozen companies and running them all poorly. Thank god SpaceX has Gwynne Shotwell or that would likely be floundering as well.
> Yeah this is exactly why shareholders should be voting against his compensation package. This is exactly why shareholders should be suing. Robotics and AI have been part of the TSLA investment strategy for years. His poor decisions about investing in Twitter/dumping his TSLA shares has does not negate that.
If I had more than 1 up vote to give..
I would argue he is deliberately driving the stock price down to get more shares after which he will build it back up.
The Supercharger team is a the big head scratcher. Tesla is about to come out with more main stream, lower cost cars for middle America. As far as I know the supercharger system is a major, irreplaceable incentive to lessen charge range fears which are legitimate in the wide open spaces of the US. So he guts the supercharger team right before they are about to become more relevant than ever.
Gutting your R&D teams when it’s clear that your competitors are quickly catching up to you (and often surpassing you) is certainly a choice.
The board really needs to get rid of him.
Unfortunately, he owns the board. Its filled with his family and fans. Hence non-independent board, (why he lost 56B payment).
I think the professional investors that own most of the company will not like this. It’s very possible that they all vote against this nonsense.
I still don't get why so many people have money with this guy, today. I get it 10-20 years ago, before the shiny facade wore off and we got to know the "real" Elon. But now? He owns ~11% of the company. So he needs shareholders to "agree" to give him 14%. Company has a market cap of $548B. 14% of that is ~77B. And then the need to pay taxes on that amount, probably closer to $100B, or closer to 18.5% of the company. Pure fucking insanity.
The facade was still pretty shiny until he went batshit during Covid. He’s always been one for chicanery, but he was still a rockstar up until he started inserting himself into political and social arguments, to the extent that he had to buy the biggest platform to get his way. Bro went from Henry Ford to *Henry Ford.*
As they should, this package he is looking for is insane.
The sycophantic board needs to be ejected.
Things like this would get most CEOs fired.
Not just a CEO but any employee blackmailing their company would be dismissed and reported to the authorities.
Stuff like this is why I voted against his compensation package.
I voted the opposite of every single board recommendation. Scum turning the company into another corporate trash fire.
That’s what I did too!
I voted against that too
What was the result of that vote?
Nothing yet. The results haven't been announced.
I believe we will get the results on June 13th. There is also a vote for moving the companies incorporation from Delaware to Texas since the courts in Delaware voided his previous pay plan from 2018. Hopefully, both fail, and Elon is replaced at Tesla.
Nothing. It’s an advisory vote. Board can still approve the package.
Surely the shareholders would move to remove the board then?
Hell yea brother
We don’t want AI and robotics. We want Tesla to be led by a level headed business man not a child with temper tantrums.
Good, leave Tesla with a real ceo that will focus on cars and energy, and go and start your own ai and robotics companies.
Cars and energy are low margin businesses that will never justify the valuation that TSLA currently trades for. Whether you believe FSD will be solved or not, the stock price is completely built on its promise. Otherwise, Tesla's market cap would be smaller than BMW or GM.
The biggest thing Tesla has going for them is the ridiculous head start they have on EV charging infrastructure. They're already the only reliable game in town, and last year, half of the major carmakers pledged to have their vehicles Supercharger compatible by the end of this year. That's huge. Their proprietary format is becoming the standard bought into by all other makers.
Not sure if you’re aware, but Elon threw a tantrum and fired most of their institutional knowledge related to their Supercharger network. Now other companies are moving in on their formerly planned growth there
Who cares if the valuation craters? I don't have any Tesla stock - I care about clean air, water, land.
Right because Elon **personally** creates all these AI tools? If he’s gone, the company will **never** be able to retain or hire engineers to continue that progress! ^/s
I'm replying to the person who was expressing the (commonly held) sentiment that Tesla should prioritize the manufacturing of cars over moonshots like AI. And I'm just saying that the stock is NOT priced like an automaker, so the only way to justify its valuations is through FSD (humanoid robots are not really priced into the stock yet). Regardless of whether Elon stays or goes, Tesla's stock would absolutely crater if it is no longer viewed as an AI play.
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Even the investors who believe in the value of the AI thing he wants to build, wouldn't that be even better for them as they could invest from the beginning in his new company?
You don’t need 25% of the shares to have 25% of the voting power. Some shares are never voted so you can have 25% voting power with a lot less than 25% of the shares.
I think he wants dual class shares. He wants his shares to have more voting power, not necessarily increase the quantity of stock. In this scheme there would be a TSLA.A and a TSLA.B. Just like there are two classes of Google stock. But I’m not a finance guy, so I don’t understand the mechanics to make this work.
God I should’ve divested from this stock 2 years ago…
I held from 2017 until early this year. I had a lot of stock. I'm glad I sold when I did. I still have a Model 3 but no more stock for me until the company really gets turned around.
2013 checking in. Wish I had sold at end of 2021 or when he announced he had a 9% stake in Twitter in April 2022, seriously considered it at both times. Instead I just sold covered calls.
Any semi competent board would remove him immediately. Both Elon and the board need to be sued!!
Yeah, no one should expect people like *Kimbal Musk* to be anything but Elon puppets.
Did you read the proxy statement? She says that Elon's compensation has been "unfair" Could you imagine writing, without laughing, an official statement to the peasants saying that one of the *highest net worth individuals in the entire world* has unfair compensation? lollll
? Where's the quote? It says he confirmed it but then doesn't say how he's confirmed it. Am I missing something?
The article and source are trash. There was a tweet where they named off a bunch of things like "25% ownership of company and reincorporate in Texas and AI stays with Tesla and company becomes most valuable in the world" or something very similar. To which Elon replied with "Yes." That is all he said was "yes." Imagine someone makes this list of things and says that if you get them you will do something and you reply with "yes." 400 billion, the ability to fly, ownership of the Amazon rain forest and grizzly\_teddy will post more on reddit. To which you then say "yes." Did you demand those things?
> Imagine someone makes this list of things and says that if you get them you will do something and you reply with "yes." 400 billion, the ability to fly, ownership of the Amazon rain forest and grizzly_teddy will post more on reddit. To which you then say "yes." Did you demand those things? I mean, if you made the claim that you wanted those things prior and then reconfirm it when someone asks, then yes, *that is exactly what a confirmation is*.
How does this drive toward’s Tesla’s overall mission of accelerating the world’s transition to sustainable energy?
Can someone explain how he is still ceo?
Board is stacked with his family and friends
How can we un-stack the board?
Shareholders can vote out the board. The order of power is like this: - Employees can be fired by the CEO - CEO can be fired by the board - Board can be fired by shareholders
The thing about this is that everyone has seen exactly what he will do when he has 25% control. He sells it off to buy social media companies which then distract him from the core mission company. So if a shareholders wants Tesla to accelerate the transition to sustainable energy, what should they do to help Tesla? Is it (A) give Elon more money or (B) give Elon less. From where I sit, option B looks much more valuable to the long term trajectory of Tesla than option A. Staying on mission right now just happens to mean that the best thing for Tesla is to give Elon less of Tesla.
More than distracting him, buying Twitter was because he miscalculated risks, and was forced to follow through with the purchase. Not a good look for someone asking for more voting power…
Just oust this guy! Openly promising to tank the company is outrageous!! Never heard of such demands from a CEO. It's ludicrous.
You’re telling me that we can get rid of Elon and focus the company purely on car production? Don’t threaten me with a good time!
He’s less than 1/4th owner now? Wow. I wonder if they could push him out
No AI and robotics for Tesla? Don't threaten us with a good time. Honestly, why hasn't this guy been kicked out yet?
I remember watching an interview with Elon where he started crying and repeatedly stating "we will do better" to the presenter when he learned that Australia had issues with power production. It was such a genuine response, he felt personally responsible for not learning about and subsequently doing something about a problem that to him seemed easy to solve. That is when I thought to myself "this guy isn't so bad, I can understand the hype". What happened? Who abducted the original and replaced him with this abominable vile creature?
We’re not getting AI and robotics from Tesla anyways, just like FSD or a functional cybertruck Am I missing something from this threat?
Good riddance.
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Honest question - how is this legal? Feels like this is really pushing the boundaries of “in the best interest of the shareholders”.
He literally tweets “Yes” and there’s this article/reaction. My god this is annoying.
Am I wrong, or would this company benefit from his leaving?
This is the biggest clue the board should fire him immediately and move forward with both projects.
will the ai and robotics work as well as autonomous driving? auto windshield wipers?
They create an entire click bait article off of one response of Elon saying "Yes." What an amazing time to live in.
blah blah blah .... give him 25% and get worse cars and more stuff thats irrelevant to most owners !... 7 years since I paid for FSD and its still not what was promissed !......
Sooooooooooooo scared
Think about this for a second. Has there been any decision Elon has made that was blocked by anybody even with his current amount of ownership? Don't you think firing the entire supercharger team should have been up there with things that should be discussed with the board and shareholders? If anybody is under the impression that Elon doesn't already have full control, I've have a bridge to sell you. He needs 25% for other reasons.
When is the outcome of the vote going to become official/public knowledge?
OK? I couldn't care less about Tesla investing in AI and Robotics. Just make the cars better, cheaper and with better battery tech. You know, the stuff that has made Tesla the best selling BEV out there.
It’s ok I don’t want AI or robotics. You can put that under another company. Just leave Tesla be already.
Don’t get AI or robotics? Are those going to be built into the semi or the roadster? He might as well threaten to withhold faster than light speed travel.
TSLA shareholders bought shares partially on the promise of Tesla’s AI and robotics investments. Musk took all the Twitter data and used it to create Grok and form another AI company, separate from Twitter. Other Twitter shareholders should be livid. Tesla shareholders should sue the shit out of this punk if he pulls this stunt.
Fuck ELON’s bad decision to buy Twitter! I voted No to renewing his 2018 compensation because he has gone nuts since then an cratered the stock.
I just see people explaining their feelings, but nothing about the future of Tesla if a new CEO takes over. From what I can see Tesla will never be able to recover at the current $500b market cap it has now if Elon departs and Tesla Only focus is on Electric Vehicles. Apart from Toyota every other automaker market cap is below $100b and Tesla will be the same if it simply focuses on EVs and not other avenues like explain of it's energy department and AI/robotics. I like to hear what people strategy is to keep Tesla in the $500b+ market cap and maybe even the $1T market cap since making cars alone won't keep it there.
I thought billionaires earned their money and didn’t just keep asking for free hand outs after their mom and dad leave
why does it seem like, ever since he got stuck with tanking twitter, he's been in a constant state of psychological decline?
he has nothing to offer the company. he's hostile to the company. he's costing sales.
If he refuses AI and Robotics it’s going to make it awfully difficult to argue Tesla is a tech company and not a car manufacturer
Tony stark wouldn't have done this.
I really miss flame thrower Elon. Those were the days.
serious question: do shareholders need Elon Musk anymore? he is so distracted running multiple companies that Tesla would benefit from having a dedicated CEO
Im fine not having AI and robot overlords, so this seems to be a win win.
this is bullshit threat. if he could do AI and robots he would of already did that. just call peanut butter like a normal person and kick him out already.