Tesla approves share award worth $29 billion to CEO Elon Musk

I guess milestones that go down are a tough sell, so they are just paying him to play Diablo for two years instead.

Go sit in a corner for two years and get $23-24 Billion dollars. Where do I get that deal??

~~Another~~ A interim comp package because he's done a super job over the last 2 years. Tesla knows that without Mysk TSLA falls to $20. So they have to appease him with more compensation because hundreds of billions wasn't enough.

meme stock

I'm starting to wonder if Musk's shift to Trump and the far right, as well as the nazi salute, was an intentional gambit to destroy his own personal brand in the hopes that Tesla investors would say "Here's your $50B, you're fired and now just fuck off." I mean, even with Tesla dealerships being firebombed, they still didn't give him his walking papers. He fucks up the cybertruck, no problem. Sales tanking, a-okay. CEO spending time playing video games and impregnating women on the internet, all while in a drug-incuded coma... that's our guy, we love him! He's literally done everything in his power to get fired and yet, they won't fire him.

Satire?

It’s funny, because almost all their numbers are getting worse. Including ROIC, Fcf, and narrowing moat.

How can this make the stock pump?

madness

They will never learn. Fuck this Nazi company.

Musk may be destroying Tesla as a car brand, but it is his outlandish promises and futuristic vision that the market keeps buying. If it begins being valued as a car company, its value drops to a small fraction of where it currently trades. The board/shareholders lose either way. As the largest shareholder, Musk isn't intentionally trying to get fired. He knows he cannot be fired, and the value of any pay package is trivial compared to the value of his current shares.

They're all his sycophants, financially tied to him.  There's no risk of getting fired.

That's why it looks like $TSLA will go up strong today! The worse the numbers, the dumber the reasons to throw money away, then the more the stock will go up!

When it comes to $TSLA, the more insane the actions, then the CRAZIER the stock shoots UP!

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Oh, ffs!

No. A large segment of investors actually believe Robotaxis and Optimus are real - and the only Technoking around who can lead TSLA to this promised land is Musk. If Musk leaves, the false hopes of flying robotaxis and Teslas whisking around in underground tunnel societies on Mars dies.

I hate this photo of Musk. It makes him appear thoughtful, serene. Nothing could be further from the truth.

Up almost 2.5% in pre market!

It’s crazy. Especially with that possible, 30 day ban minimum, in Cali on sales. Just around the corner.

How many cars is that?

Oh great now he can to spend more money for Trump 🙄

Market makers don’t hold stock positions. They are buying because they believe there will be someone to sell it to at the higher price. So yes, there are likely to be retail investors at the end of the chain, who will be the ones left holding the baby.

Tesla doesn’t sell cars anymore. Only hopium and delulu.

This is my favorite part: “Gary Black, a longtime Tesla investor who sold his position recently, said on X the award should be viewed "very favorably" for the company as it aligns Musk's incentives with the shareholders and removes uncertainty about him leaving.” So, on the one hand he already sold his shares and on the other, he thinks this is great for the company? 🤣🤣

Any sane board would have fired him months, if not years ago. The sad thing is that the board members all know the writing is on the wall and having sold millions in stock to make sure they’re well insulated when it crumbles. There used to be a time when non impartial boards were dealt with.

Life isn't a box of chocolates. Pretty sure it is just shit since it keeps rewarding terrible people.

People don't realize how much money that is. They say Epstein was only worth like $500 to $600 million and he owned an Island, a $77 million mansion in NYC, a Palm Beach estate, an estate in the Midwest, and a large private jet.

From your parents

So they can approve a compensation package of this size to Musk without even having shareholders vote on it?

Logic would dictate the share price goes down today but there's no convention logic in this POS stock.

Welcome to modern America. It doesn’t matter how much of an incompetent dumbfuck you are, once you’ve made it as CEO you can’t lose. The day he says “hey let’s do something good for society and help poor people” will be the day he finally gets fired.

> As the largest shareholder, Musk isn't intentionally trying to get fired. Some days I am not sure he's intentionally trying, period.

Stocks go up

How incredibly stupid. Pay his rat ass billions for tanking the company?

Where can I get parents with emerald mine?

Genuinely curious how much longer he will be able to sell the illusion. Someday this company is going up in flames like a tinderbox.

What did someone say....like he believes he hacked the cheat code to our simulation and now he's just bored...like when you get the cheat code to the Sims and it's not fun anymore so you just run around doing the most destructive/outlandish shit. He's daring them to fire him.What did the lady on the Pink Floyd album say? " Cruising for a bruising?" That's him.

This one gonna get kicked back by the courts too?

He absolutely wants to. He wants to see his company burn, like in Sim City when you've accomplished everything you set out to do, and say fuck it, we're really ignoring housing codes now and putting five nuclear power plants next to the residential area and de-funding the fire department.

Fucking *why?*

He can't be fired now. This award essentially guarantees that he has the voting shares to crush all efforts at company reform or responsible governance. It's his toy to smash into pieces and walk away from grinning.

I guess the board did this while shouting “Long live King fElon!”

It is, *when you look at it…*

I guess he might very well know it's eventually going to come crashing down, so maybe his politics and drug abuse are a way to find sth to blame failure on, while telling himself his skills/genius are intact. I don't really believe it, but I guess it's plausible enough pseudopsychology.

This should affect their income statements I think. They avoided that before by saying that the goals were so unlikely that there was little chance he would get the package. Unless they argue it’s unlikely he stays an executive then they need to deduct the cost of this I think.

Hard to think of another CEO that has singlehandedly ruined a company like Musk, and they give him $24B. That is one pathetic Board.

Welcome to CRAZY TESLA, our logic is INSAAAAAANNNE. (/fuckimold)

Heh. One would think the money should nowadays go the other way: "I'll pay you to let me stay!" 😉

South Africa, check the box on your visa application.

It’s good that board is focusing on most pressing problems for the company.

That should buy a lot of K

$260,000 per Tesla employee

Anagrams for Tesla…..steal,tales As in fairytales

That was my thinking as well, but they are in Texas, so fuck it.

He would also be able to say that the reason the company failed was because they fired him. The fact that he made the poor strategic decisions that led it to the mess it’s in would be forgotten. I genuinely think he would be happy to be fired and walk away with that package.

It may take awhile, but I’m looking forward to the inevitable rug pull.

Headline “TSLA paying 1/3rd of 2024 operating revenue as a bonus to absentee CEO” - stock up 5%.

To put things in perspective for us poors. 1 million seconds is less than 12 days. 1 billion seconds is nearly 32 *years.*

Seeing this makes me so glad I sold mine, honestly beyond a joke.

Stock market is just a vehicle to enable options betting now. You make money by writing options and then doing a rug pull. Golden age of fraud.

I think Gary Black is one of the people hoping this will lead to a merger with xAI at this point too. Yet another big miss for Mr. Catalyst list.

Does it cut his hand when spent?

Have to love the framing of it too. This is just back pay because the prior award was denied and they likely have no legal standing to appeal it, but still it was clearly deserved a tragedy that Musk wasn't paid it so it's okay to just bypass shareholders for half of it. Which of course was the entirety of the reason they reincorporated in Texas and all those laws just happened to get passed that effectively eliminated the rights of minority shareholders less than a year later. Guess all that's left is to wait for them to throw together some abomination of a compensation that will not only cover the prior compensation but pay him a ton for work yet to be performed.

Investment firms should be calling foul considering the company's performance this year but they'll remain silent.

Brilliant. Let’s give more control to a CEO of an AI company that’s also the CEO of a privately owned separate AI company that’s their direct competitor. When you’re so deep in a Ponzi scheme you have to double down on it this is what I’d imagine it looks like.

Plunder the company before the crash.

I walked by a Tesla dealership in Stockholm today. Not only were there not any customers there, there didn’t seem to be any employees either. This alone should be worth a 2 or 3% increase in the stock price, no?

What’s the point of owning the board if can’t get them to funnel ridiculous paydays.

This share award doesn’t vest until 2028. If he’s ousted before the end of 2027, he doesn’t get it. So there’s still time. There’s still hope they oust the Nazi who has destroyed the company’s image and brought shame upon all Tesla owners, some, I assume, are good people.

By all means, if he leaves who would lead the company to more quarterly losses?

They re-incorporated in Texas, which conviently changed its laws to restrict shareholders' ability to bring derivative suits.  I have a background in corporate law and this is probably the most blatant power grab I've seen.

It’s crazy I really don’t understand how the SEC allows public companies to be so tightly controlled and I also don’t understand buying the stock

Too bad the same folks who came up with this scheme are the ones needed to oust him.

Oh my God, think of the *babies!*

Time for Musk’s bloodletting…er…profit taking while the company dies.

Yeah, it’s a slim hope.

Exactly. Think about Tesla under any reasonable management, e.g. Musk resigns to work the xAI grift and SpaceX corporate welfare businesses, Tesla announces they've hired a CEO with actual auto experience. If Musk doesn't take Optimus with him to xAI, the new CEO closes it down. It's not a car, it doesn't work, and it doesn't generate revenue. Robotaxi is taken out back and shot. The new CEO isn't trying to recreate [Checker Taxi](https://en.wikipedia.org/wiki/Checker_Taxi)'s business plan while years behind Waymo for autonomy and years behind Uber/Lyft for ride-hailing. The new CEO spends billions settling lawsuits over FSD running in every car, or more likely, spends millions lobbying Trump and/or Texas for legal relief from Musk's "corporate puffery" over FSD working and/or working on every Tesla ever sold. FSD then ceases to be the focus of the company. Instead, the CEO does "boring" things like make it possible to exit a Tesla with mechanical door handles, install parking sensors that work, adding radar for reliable adaptive cruise control, and a bunch of other things that can be bought from suppliers. What's left? A car company. That makes cars. With pretty-good electric drive trains. And steadily improving fit, finish, comfort, and features. The new CEO doesn't demo robots serving popcorn. The new CEO demos a road map for delivering an affordable compact eSUV and some genuine next-generation Model 3s and Model Ys. The following year, a grand reveal of a concept for a... Three-row SUV. With new styling that doesn't try to play to the teenage fantasies of a middle-aged Peter Pan. The stock will crater, but that isn't the new CEO doing bad things, it's the new CEO doing good things instead of selling gossamer fantasies.

He can't cash in if the company goes belly up within 2 years..

What business sense does this make?

Redacted.

to be fair to elon and his value… thats only like $674.4k per cyber truck sold to date

A deal is a deal. Unless it’s with a supplier or a customer.

Bullish. 5%

Paying him for work already done? That’s irresponsible.

Nice more power to men like Elon & Trump, thats what we need.

His board is sycophants, so he’s giving himself cash when Tesla BKs

They were working on appealing it. Which is why Musk was trying to buy a judge seat for a lawyer who supported him (didn’t work).

>Tesla (TSLA.O), opens new tab has granted CEO Elon Musk shares worth about $29 billion in a new pay deal aimed at keeping the billionaire entrepreneur at the helm during a crucial pivot from its struggling core auto business to robotaxis and humanoid robots. You know, Golden Parachutes are given to get rid of C-Suites, not to keep them in. Tesla stock price is going down 95% eventually anyway to align with its fundamental value. If the Musk is ejected there is still a ghost chance of salvaging the brand an pivot to becoming an auto maker.

Yeah, "funny"

Make sure you write in oppressed refugee in the other box

Banana republic as a corporation.

Rewarding him for......what? Oh right -- it's his asshole family and friends on the board, so it's nepotism and favoritism all the way down.

So sell options

Google tells me Jim Farley is compensated $24.9 million this year. I guess TSLA is performing 1,000 times better than Ford. After all, Ford doesn't make robots with a thigh gap, now do they? Fun fact: around half the nations in the world have a GDP less than $29 billion.

Fake news. Elon pays somebody else to play Diablo for him. He's getting paid to shitpost on Xitter.

But their Robotaxi\* network in Austin is expanding exponentially!!! \*Some restrictions apply

Why does the number keep changing on these articles. The one I saw early this morning was 25 million and then the next one I saw was 28 million and now this one says 29 million.

Ponzi scheme meme stock continues to pay out for the chief con artist.

Bullshit. 100%

Tesla is a pump and dump scam that occasionally sells cars. And roofs and dancing robots. The pump is incoming. TSLA calls.

Anyone that continues to give the board a pass, needs to pull their head out of their backside. The board is complicit..

Just a reminder that is the lie they got fucked in court over

He might also just die before then, I give that an equal chance to him being kicked out.

How can any business justify paying the CEO more than they make in GP per annum? And how can any reasonable CEO want to take more than the company makes in GP per annum?

The company is a scam, right?

Let’s be real, shareholder vote would have gone the same way

If you read the article, it’s actually an interim award while he’s appealing the $56bn pay package in 2018. If he gets that then this award is cancelled. He hasn’t been compensated since 2017.

why would any shareholder agree to dilute their shares at this point with this guy completely fucking the share price and reputation and sales. Their best bet would be to turf this guy.

Bummer maybe this time the board will be more forthcoming. Wasn't that the issue with the last comp package? They didn't act in the interests of shareholders? But I guess TSLA still went up so everyone is happy

I own a Tesla and i think they have a shot at some autonomous future but this is total madness… If they tied it to success on the autonomous future or to share prices then sure.

An independent board would have kicked him out long before now

simps the lot of them.

I'm so sick of this asshole.

Now we can expect more meaningful data from the epstein files to be released.

This is wonderful news. - incentivises Elon to stick around longer and inflict further damage on the brand - happens at a time Tesla’s free cash flow is about to go negative - dilutes existing shareholders, who still think it’s a great idea. Personally I think they should have just given Elon $69 billion worth of stock, just for a giggle.

I’m sure Joe shareholder loves this.

Imagine being a Tesla shareholder and the board just uses *your assets* to make sure he keeps destroying the company further. But naturally, if you are a current stockholder at these prices, you aren't really thinking much of anything related to the actual state of the company.

Great news!

Imagine investing in Tesla at this point lmao

LOL @ TSLA bagholders... this will be taught in Finance forever, right next to the Enron chapter.

You just don’t understand. When your shares are pledged, you have to create $29 billion shares to have your other company, to which the shares are pledged, purchase your other other company for 400 times it’s current evaluation. It’s just science.

>so they are just paying him to play Diablo for two years instead. You mean buy more Diablo accounts.

GameStop would beg to differ.

I think it’s great news, as it will assure the complete destruction of Tesla by a drugged out dick head

approves before the company tanks under lawsuits. get it while something is left.

The answer to your question is in “said on X” He bought Twitter for a reason. He hands out bags of cash and spotlights of views on X to Tesla shills Words are crafted for profit. The intent behind their messages is has and always will be a means to an end, not honest debate or discussion

They're still appealing it technically, but the entire existence of this package is a big indicator that they don't have much faith in that appeal being successful. Also as evidence that they've learned nothing from that case they're doing more questionable things like portraying this as an award for previous work and likely not doing much of any negotiation with Musk to minimize shareholder expense in the process. I'm guessing they'll point to the prior ratification vote as essentially approving this action though and relying on things shifting to Texas to basically make it impossible for minority shareholders to even sue the company at all. This company is going to be a textbook case of a corporate governance failure and a cult of personality allowing for a massive amount of fairly obvious fraud to accepted by shareholders.

Wow - so his contribution is going to be worth more than 100x the life of the pedestrian run down in that autopilot case...

Right!? I’d say there should be an entire high school semester dedicated to making sure people fully understand this before they’re allowed to graduate, but then again, reading and writing should be mandatory as well and clearly those people slip through the cracks. But to put it into perspective, if the average annual salary of a workplace is $100,000/yr and the CEO’s pay is 300X the average worker, which is already insane, the CEO’s pay would be $30 Million… … but $29 Billion (we’ll round up to $30B for simplicity) is 1000X what the CEO who makes $30M makes. Someone who makes $30 Million per year would have to work for a thousand years, until the year 3025, to reach $30 Billion. But that average worker making $100,000? It would take them 300,000 years to make $30 Billion. 300,000 fucking years!!! How many people who make $100K a year believe that what Elon does is worth doing what they do for 300,000 years?

That song and album is just as relevant today as it was in 1973, if not more.

To add to that. The CEO of Ford is quite highly paid and has a fairly good compensating package. His wages all in is equivelent to about 125 dollars per employee. Or to put it another way, this package could pay the full wage/compensation of that same CEO of Ford for over 1000 years.

Yes but he can sell his current shares without any real concern now. And he has voting right which makes it near impossible to out him. Good luck.

Even though that might be so, internal analysis would’ve forecasted for this, taking into account many factors such as increased competition, slowing adoption etc It’s likely that Tesla did better than forecast hence the share award

Well, he did a lot for the company and it is probably legit, but given the latest development, this is quite a stretch. Let’s hope that he does not buy the majority in the next dip and takes Tesla private.

This is a reason why I think America should adopt a dual board system when it comes to corporate management if a company is publicly treated, It's a common thing in German speaking countries, one board handles the operational aspect and the other oversees strategic matters and assesses the performance of the operational board. There's no overlap in membership when it comes to both boards. Problem with the unitary board system is it creates all kinds of conflicts of interest and allows an overly powerful CEO to stack the board of directors with sycophants. Like we see a Tesla.

No employees means that they are getting ready to role the humanoid robots out. Extremely bullish!

His entire business strategy is to rob taxpayers, shareholders and suppliers

Go to a Tesla sub to see his fans defend the need for a 29b dollar payout lol.

I remember Crazy Eddie’s

Their stock seems to be based on thoughts and prayers. How long is it going to be before house of cards final folds and the price tanks. You can’t hold a company together with wishful thinking and empty promises forever.

So where does THIS money come from? Oh yeah...right

Lol Billionaires are literally the worst thing on this planet.

It's to compensate him for a season of unforced errors. Poor man!

Oh great , just what we need another example of extreme wealth, we'll all pay for at the cost of our democracies around the world!

Shit goes down but money flows up

Is this to try and persuade him to fuck off?

Never buy a Tesla. That’s the only this board will be stopped.

How much dollar per tesla sold is this ?

Thank God. Elon really really needs that money

Hasn’t been compensated? Lol doesn’t he already own a bucket of equity? This is just MOAR equity for reasons.

He can own a lot of equity and also not have been compensated since 2017. They’re not mutually exclusive. He hasn’t been compensated because the $56bn package that was awarded to him was cancelled. So the “reason” for the equity is actually to make up for that in some way (hence it being cancelled if his appeal for the original comp is successful).

Does money really incentivize the world’s richest man? Tesla should adopt the world’s first Concubine Incentive Plan whereby the Board can grant up to 800,000 restricted concubines for the procreation of babies who are given the dumbest names.

Maybe nazism is good?