All these institutional shareholders should declare they will divest from TSLA if the compensation gets approved.
>Democratic New York State Comptroller Thomas DiNapoli, a frequent doubter of Musk, said on Monday. DiNapoli controls the vote of 3.3 million shares in Tesla through the state's pension retirement system, or 0.1% of the company. "This is not pay for performance. It is pay for unchecked power," he said. How come a retirement fund is invested in Tesla, a meme stock? What's next, bitcoin? Cesar Palace fiche?
He doesn't give a shit. He wants money, all the money, his lackies on the board are too busy sucking on his tits to know or care whats good for the share price. The other board members will be rewarded by Musk for throwing the company onto the bonfire.
Good
If they divest the stock is going to drop like a rock. Best time to get out is the artificial all time high right before a new year where Tesla might not even be profitable. They probably should this is a huge dilution of shares and drops everyone’s stock value.
Probably because they don’t do their own research and read all of the overinflated stock price targets. When you keep seeing people say the stock is going to hit 2300 or some other made up number it seems like a reasonable risk when you have billions to invest and need to diversify. If they have a hundred stocks to invest in, there are very few large caps with numbers like Tesla. It seems like a reasonable gamble when you are only investing like 1% of the fund.
nah, I think they should give him 2 trilions if possible :)
It's only a matter of time before Tesla fails like Enron, Sears, Red Lobster, etc, with no new models, and what's being released is cheaper versions of old product, he needs to take as much money as he can before it all comes crashing down. He's sided with those that don't believe in climate change and vandalize his products while alienating the early adopters and many of his core users. Drug fueled pipe dreams of flying versions of cars he's not even completed from 10+ years ago, auto taxis, and robots, it's turning out the only thing he was a genius about was being a world class racist grifter
He doesn't give a shit anyway. Without it he still gets paid an obscene salary, just for playing video games and spewing a few lies.
Exactly! Pension money is supposed to be conservatively invested, meaning only in companies with sound fundamentals, not hyperinflated fantasy stocks with a P/E of 300:1.
I think it's already at or near the tipping point. The Musk name is now poison, causing sales to plummet.
Yeah but how is the diner doing?
And just a reminder, this compensation package would be IN ADDITION to the 96 million restricted shares Elmo was granted in August ($23.34 strike). All he has to do for those to vest is stay in an 'executive' position for 2 years and they're currently worth about 42B. Guess that's not enough compensation?
They probably hold it in various ETFs and mutual funds.
None of the compensation will matter much if all the institution investors bailed and TSLA resort back to its intrinsic value of $20.
His sole motivation will be to juice the stock price regardless of how the company is doing. I worked at a company where the CEO used to give the middle finger to Wall Street as it grew and grew, but then when it got overly concerned with stock price it went to hell. Destroyed the culture and the product. Tesla is already well past the point of course but I’m sure it can get worse.
Don't worry guys it'll trickle down any moment now. Just wait for it. /s
The biggest problem with the deal is once the shares vest, they are his. It doesn’t matter if sales crash 99% afterward.
It will pass. As a shareholder...you have to be an IDIOT to vote against it assuming you believe he will actually leave. If Elon left...Tesla stock would fall 80% in days. It is not a stock based on anything close to reality...it is all bullshit. You need to keep your best bullshitter or the jig will be up.
More like $5, and dropping as sales decrease.
Don't forget the racism and misogyny.
He doesn’t do any design or controls work and no one wants to work for him anymore. What exactly makes anyone think this guy is worth anything?
What makes him think he should earn a trillion more than his best engineer. The world is fucked
Did you just learn this now? The whole reason Tesla stock has its price point is because the “professional investors” would have to admit they made a massive mistake at this point which they won’t do.
1) he doesn’t have to leave to get all the benefits he gets from leaving (such us the ability to build companies with competing interests, the ability to pump and dump his stock, the ability to trade shares on insider knowledge without sec coming down in him) 2) if he did leave he’d lose the ability to self deal by having tesla fund his other companies and then buy them at inflated prices Therefore he won’t leave if you don’t give him $1T and the company will get more stolen from it by keeping him Giving him$1T doesnt do anything not paying would do, except now the company has $1T less of investor cash All that said, the shareholders will absolutely vote to pay him $1T
Doesn’t matter as labor unions continue to trend more democratic.
Just green light whatever gets us closer to him dying on Mars alone
That's part of what I struggle to understand here. I understand rich people wanting to get richer, but somewhere along the way I don't know how an extra billion or 1,000 billion is going to change your lifestyle. In his case he'd probably just use the money to buy up more companies, but if that's the case Tesla should just give him like 200 billion or whatever already ridiculous number, buy those companies themselves, and force him to actually manage Tesla as it's CEO rather than running 20 different companies like he's doing today.
His lackey on the board know their investments in TSLA will tank the minute Elon leaves. So he is extorting them. Pay me or I leave. lol
Billionaires dont have “normal” logic.
At a guess, they have a chunk invested in an S&P 500 index (or they directly mirror the S&P 500, same difference). Since TSLA is a component of the S&P 500, they would end up with it. It's a common investment strategy.
I don't think he cares about the money. His goal is to own enough of Tesla's stock that no-one could possibly acquire enough to take over the company (and throw him out). Much like Twitter, he doesn't care if he or the company make money, as long as he's in total control.
Many of them have dumped huge amounts of their stock while also telling the average slob investor to buy. Total scam.
As well as the market and virtually everyone’s 401k. TSLA is in so many mutual funds and ETFs that it’s going to have an impact on everyone.
Personally, I reckon the board at Tesla is being conned. They're shit scared that TSLA shares are going to go into a major dive - because, let's face it they are way overvalued. So their solution is to have Musk as CEO. Always & Forever. Whatever happens I think it's all a potential massive disaster, which may trigger other disasters. But sorry unions, you don't have a say in this one.
Yep, well said.
As soon as he gets his way he’s going to do less than he was doing before. I guess you might as well give him the money because he isn’t gonna do anything anyway. you don’t actually think Tesla is gonna go up six times what it is right now if it reaches $8.5 trillion market cap at 25% ownership his net worth will be worth 2 plus trillion If by chance he does pull off a miracle. He’s got other motives what they are nobody knows yet!!!!!
Exactly. Institutional investors often have rules like only investing into thing like S&P 500 and not divesting unless they fall from it.
So what? The longer everyone pretends Tesla is worth the inflated price, the worse it is. The sooner it goes to its actual value, the less people lose.
Why anyone even needs the amount of money he ALREADY has will never make sense to me. The average person is living off of $20k-$50k/year. A person could live an entire modest life with $3,000,000 alone (3,000,000 ÷ 50,000 = 60). Literally no one should be a billionaire, the only reason they even have that much money is because they don't pay their fair share in taxes. If billionaires actually paid what they owe, the country wouldn't be in debt.
He definitely won’t leave because you don’t approve some ridiculous extortion deal. His net worth is tied to the stock price plus all the money he has borrowed against his Tesla stock will come due if he tanks the stock by leaving. The board is full of his friends. They care more about him than the shareholders. A lasting company can’t rely on it’s CEO to justify its valuation. Just look at Apple after Steve Jobs died. The DNA of the company has to be what drives the value. IMO, his recent political involvements has been bad for the company so maybe a change would be better for the company in the long run.
Tesla only has Union. In Germany. And he hates it. Could use more of those. Without - this shit happens.
Pension Funds will probably the first to exit. One already did, some months back, in Pennsylvania.
Be*
Login is required to comment.
Login with Google