Summary
A Delaware judge upheld her earlier decision to void Elon Musk’s $56 billion Tesla CEO pay package, ruling it was improperly granted due to Musk’s control over Tesla and flawed board negotiations.
Tesla’s attempt to overturn the ruling through a shareholder vote was rejected, with the judge warning against revising judgments with new facts post-trial.
Musk called the ruling “absolute corruption” and plans to appeal.
Meanwhile, Musk’s net worth has surged, driven by Tesla’s stock jump following optimism about his alignment with Trump’s policies.
Good to see.
this probably hurts him more than me saying he’s an incompetent nepo baby. (the best way to hurt rich fucks is to hurt their wallet, after all.)
the best way to hurt rich fucks is
with a guillotine.
The guillotine was actually meant to be painless. Properly constructed and sharpened it pretty much is. Or so I’m told.
While a quick and painless death certainly falls short of the misery they cause, I’m more concerned about ending that misery to the masses; it’s not so much about punishing the oppressors. …even if they do deserve to be skinned alive and then drowned in a pool of lemon juice; that’s just more work than it’s worth.
Unfortunately his wallet isn’t hurting. He’s still rich.
So what you’re saying is, more hurt!
That sum is close to the 44 billion spent on Twitter, could that somehow be the payment for it via inflating Tesla stock price?
I think hurting his ego also hurts him, just look at the amount of people that get banned from X for doing it.
Wasn’t happy with the last ones what was it like 42?
Fuck this guy so fucking hard.
People don’t understand.
If $50bn was stacked $10 bills, it’d be real high up neat. But if it was ripped over and on the ground… .it’d take OVER 10 HOURS AT HIGHWAY SPEEDS to drive its length.
For reference $1m would be like 20 parking spaces in $1 bills.
So… Like… Fuck man.
I just leave one quote here:
According to the Department of Housing and Urban Development, it would cost $20 billion to end homelessness in the United States.
Here is a fun fact, if every church housed 2 homeless people, there would be no homeless in America.
As if a church would give a damn about the needy.
Excellent comment. I donated to Coalition for the Homeless in your name.
Hey thank you, I feel honored!
It boggles my mind why anyone would still be holding onto Tesla stock right now. The board and the Musk are actively trying to screw them over right now and one judge barely managed to prevent shareholders from getting shafted. How does it make any sense to hold onto Tesla shares at this point?
Tesla stocks (and quite a few other company’s stocks) are not based on ‘fundamentals’. They are based on hype, speculation, and perceived future value.
People investing in tesla either 1. Are ‘playing the game’ and trying to take advantage of the hype. Which incentives them to also hype because they benefit when more people buy the stock. Think crypto bro-esque grifting. Id also throw in people who do short term trading to time hype jumps. 2. Novice/uninformed investors who don’t understand fundamentals (who may be getting boozled)3. People that understand fundamentals but are also hedging against a miracle.
Elon isn’t a stupid guy. There is a reason why Musk is constantly hyping things. It keeps the stock high. It’s keeps the buzz going which gets more people to buy in. It keeps him rich which lets him do silly things like buying Twitter or donating to political campaigns and ingratiating him to the president elect.
But the overall valuation of Tesla absolutely, unequivocally is not based on fundamentals/realistic valuation of the company. It’s almost all a “bet” and people buying stocks are gambling.
Market is irrational
When you’ve essentially already got everything the only thing to do is try to get more.
Every rich person has a hoarding mental illness
HA HA
ruling that Musk had individually “controlled Tesla” and dictated the terms of his compensation to a board that didn’t fairly negotiate.
I’d like like to know more about the makeup of this “board” who I assume were all hand picked by Musk.
https://ir.tesla.com/corporate
Kimbal is his brother.
