Musk gets 96M shares in "interim award" while 2018 pay plan is held up in court.
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Tesla awards Elon Musk $29 billion after much larger pay plan blocked in court
- Thread starter JournalBot
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Anyone who believes that $29 billion is going to keep Musk focused on Tesla is smoking some really incredible stuff. He's bored with Tesla, no amount of money is going to fix that.
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$29 billion to spend his days having people report to him in a ketamine-induced stupor while going on random ignorant rants on Twitter or poorly playing online games.
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Despite Mr. Feynman's insistence that there is plenty of room at the bottom, I cannot find a small enough scale for the violin I need to play.
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davijoh723
Wise, Aged Ars Veteran
So...giving the richest man in the world more money is going to keep him focused?
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So, let me get this straight: he's wildly disengaged after how many billion and you think a dose of diminished marginal utility will pull him back in?
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His political exploits ruined Tesla's reputation and they want to spend $29B to keep him around. Why? I figured they'd be looking for a way to kick him to the curb.
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Don't forget having bladder control issues while on the ketamine.
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It's how the capitalist game works: can't give any poor people money, they won't have an incentive to work. But gotta give the richest people in the world infinite funds unchecked or otherwise they won't have an incentive to work!
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MedicinalGoat
Ars Centurion
I suppose "unmatched leadership abilities" is still valid even if the leader is in a ketamine induced haze marching you all towards a cliff.
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I have to wonder what on earth Fidelity and Blackrock are thinking by enabling this man child. They have the shares to stop this crap and make him focus on real value.
Now, anyone who buys a new model Tesla is automatically thought of as a Nazi by the general public. This is not where you want a brand to be and shareholders should be up in arms.
Now, anyone who buys a new model Tesla is automatically thought of as a Nazi by the general public. This is not where you want a brand to be and shareholders should be up in arms.
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This is shamefully low
100% of the stack should be awarded and mutual funds divested from sullying the purity of the stock
100% of the stack should be awarded and mutual funds divested from sullying the purity of the stock
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I guess when you’re a meme stock, you got to try to keep the meme going somehow—even if in desperation.
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The 29 billion in stock should really be worth about 209 Million and even that is more than he deserves considering what he's done to the brand recently.
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Ah, this must be the incredible efficiency and effectiveness of the private market everyone keeps crowing about.
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Because he owns the board. That's why the previous award was canceled; they had no independence.
I'm not sure. They kept voting to give him twice as much before, despite Delaware's business-oriented chancery court telling them both times it was improper.
This is why they moved to Texas. Texas only gives a shit about rich people.
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It's a meme stock and they want to keep the meme guy around. I understand the Tesla board of directors has done very well ($) letting Elon do whatever he wants.
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The stock price is completely divorced from they underlying value of the company. It's a bubble stock inflated by Elon's hot air. So they want to send him $29B to see if they can get the bubble even bigger. I don't understand why institutional investors are hanging around though. It seems pretty clear to me that the risk of a catastrophic drop in the stock price is really high. Like it's almost guaranteed that it's going to crash at some point. It's basically a lottery ticket.
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Think carefully guys; Do you really, truly, want Elon Fucking Musk running the show? And paying close attention, instead of letting the actual competent people drive? Is the stock price really worth that much pain and suffering?
In a fair and just world, the answer is, of course HELL FUCKING NO. Sadly, the very fact that people still like and admire him should be the final nail in the coffin for the Just-world fallacy. And yet, here we are.
In a fair and just world, the answer is, of course HELL FUCKING NO. Sadly, the very fact that people still like and admire him should be the final nail in the coffin for the Just-world fallacy. And yet, here we are.
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The idiot's radioactive and actively destroying Tesla's market share thanks to his antics.
Tesla itself is practically fossilized wrt new models, styles, features (what's actually delivered vs what's being promised "soon").
Tesla sales are NOSEDIVING IN FLAMES because of the moron in charge.
And these simpering sycophants think servicing him with $29 billion dollars is going to fix ANYTHING?
If I was a Tesla stock holder I'd be demanding that Musk step down, and return any pay/benefits he received in the last two years, the board be fired and entirely new leadership completely devoid of any ties to Musk or any other Tesla board member be elected.
But when you stack the deck in your favor and expect the "little people" to pay for your excesses and idiocy, you get a bankrupt company. That may actually be the end goal, since I figure it's got a hell of a lot wrong with it, it won't fix itself without a huge infusion of cash and a major change of reputation and leadership, and it's a great way to launder other losses and walk away from that debt.
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No new functioning vehicles since the Model 3 in 2017. Where's the affordable EV that was supposed to happen?
8 years of complete inaction and he's rewarded for it.
8 years of complete inaction and he's rewarded for it.
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He hasn't really been working there for years. The twitter acquisition closed in October 2022, after several months of drama. Twitter has clearly been his day job, and he has pulled away Tesla engineers for that unrelated business.
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Last time the board came up with a story about how unlikely success was. That was a lie, and it’s the fact it was a lie is why they lost.
But this time it seems like the board is saying they're just going to light some money on fire for fun. If shareholders agree, that’s probably their prerogative.
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The last time he got this much money, he fucked off to ruin Twitter. Then he fucked off to ruin the federal government. The whole time that all that was going on, he managed to partially ruin Tesla without even trying. If Tesla really wants to throw cash at Musk, the least they could do for their own survival is buy him out and cut ties completely, not make themselves even more beholden to him.
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Seriously. I don't know what about this they think is going to work this time, especially given the article points out their SEC filing excluding other forms of compensation.
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Yeah I think losing him would crater their value, because who buys tesla except the stans? the company's fundamentals have been a joke forever. Elon's basically a talisman at this point. Or kind of like Dumbo's magic feather, except if the feather were actually an anvil.
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The more we discuss Musk's 2018 performance the less we discuss Musk's 2025 performance. Can't help thinking that might be a factor here...
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