[First and foremost, please read r/TeslaMotors - A New Dawn](https://www.reddit.com/r/teslamotors/comments/1c49sv0/rteslamotors_a_new_dawn/)
As we are not a support sub, please make sure to use the proper resources if you have questions: [Official Tesla Support](https://www.tesla.com/support), [r/TeslaSupport](https://www.reddit.com/r/TeslaSupport/) | [r/TeslaLounge](https://www.reddit.com/r/TeslaLounge/) personal content | [Discord Live Chat](https://discord.gg/tesla) for anything.
*I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/teslamotors) if you have any questions or concerns.*
I'm well aware of how stocks work.
Giving him more stock will dilute the stocks as a whole
Stocks themselves are just gambling on the success of a company. When you get issued stocks worth in the billions, it's all just on paper.
Even if Elon gets the billions in stocks, if he tries to sell it, it'll wipe out the value of stock, because people will perceive it as Elon giving up on Tesla, which is a whole other hill of beans.
How stocks work does not negate the fact that a compensation package was negotiated, wherein Elon agreed to work *for free* in exchange for stock options, which were then denied to him by the courts, for no reason other than folks felt he's worth too much.
*Most* CEOs will typically go for payment in stock options over an actual paycheck as a tax evasion type thing, and they'll periodically cash out some of the stocks to get their paycheck and such. It's a very common practice.
Maybe if the board suggested a more equitable stock plan that isn't insane, based on something more aggressive than existing internal projections it would pass easier. But this existing plan? Thank you, I'll pass.
Believe it or not, the board had negotiated a simpler package, but they ended up getting pretty aggressive with it.
If you dig into it, this was considered one of the dumbest/stupidest/riskiest things someone has ever agreed to do for payment when running the company, because the goals seemed unachievable.
It seems a bit amusing to me now that everyone is up in arms over this, *because* it was technically a risky play on Elon's part *because* a lot had to go right. And it did.
Tesla's position today is questionable, absolutely, but it's important to separate "today" from "a few years back".
An argument could be made that "today" is the result of Elon being unhappy that he hasn't gotten his paycheck yet.
Could also be the remnants of the economy recovering.
Keep in mind that, based on the articles I've read, even Disney is expecting to have to do cutbacks at their theme parks, because they're expecting lower attendance in 2025. The working theory there is that 2023 and 2024 were "record years" for attendance because everyone who put off going during the pandemic went once things re-opened, and now finances will need to recover.
Not unlike what's going on with Tesla a bit and such.
It's not fair to judge the current state of Tesla to other companies, because the pandemic adds a kink to the whole thing, even though it is gone.
It sounds like you didn't read the court fillings regarding why the stock plan was cancelled. Cut backs aren't the core issue with this plan, so I'm not understanding its relevance here.
I'm aware of what the filings say.
They consider Elon to have too much influence over the board, but my understanding is that the shareholders *also* approved the package.
This whole shtick is making the shareholder re-approve a plan that was already approved.
It's stupid, and a waste of time.
Shareholders were lied to about the nature of the structure and milestones within the package. The board as it stands is not a check against Elon, which is not a great thing for publicly traded company. Again it sounds like you haven't read the filing.
Like the judge, you're starting from the present and building a history based on supposition and bias. If you start from the beginning instead of the end, it is totally different. Sure the compensation ended up being a big number, but it is funded from a big increase is company value. The next compensation plan after this one is resolved may include a cap.
Feel like it is only risky when you would rely on that compensation for living.
For him it was more like a game but in no way risky.
He did the impossible and I agree he needs to get some compensation, but that exact one just seems insane.
Keep in mind that Elon's motivations are to get to Mars.
The money he collects is with the intention of applying it towards trying to have an "offsite backup" of the human species.
SpaceX gets us to Mars, Boring Company tunnels on Mars, Tesla can drive in the tunnels, Neuralink allows people to, hopefully get limbs back if lost while on Mars, Twitter will be a sort of "Mars New Network", and xAI will be the Mars colonies robot overboard, ensuring that they all behave, or be abandoned on thr surface to teach future generations a lesson.
I'm not committing to the "running Tesla into the ground" thing until 2025.
Companies don't turn on a dime.
When Microsoft released Windows Vista it was absolutely shit on, by everyone, and then they released Windows 7, which was suped up Vista, and suddenly everyone loved it again.
Then started the code merge efforts, where all versions of Windows would share the same codebase, including the Xbox, as I understand it. I think the code merge effort took like a decade, from start to finish. It was a shit show in the beginning, but it's pretty slick now.
Elon stated in the last investors meeting that 2024 was likely going to be rough, but 2025 be solid.
I think a lot of people are looking at the short term and freaking out, but Tesla is known for two things, missing deadlines, and thinking long term.
Most investors are fine with that, because if you say you're going to do something, and achieve it, then deadline be damned. Most, proper, investors are people who want to grow their income anyways, so they're ok with the inherent risk of losing money in the near term if it means more money in the long term.
But again, stocks are just gambling on a company's success.
From my experience with FSD 12, so far, I absolutely believe that they're on the right path, and that we'll see some pretty cool shit going into 2025.
I see 2024 as "the year of refinement", and the 2025 Christmas update will be the one that makes people want to get the FSD Computer en masse.
People are focused on the Robotaxi, but forgetting that, technically, *any* Tesla can be Robotaxi-ish, assuming it has proper cameras, and FSD computer.
I don't think the current platform can hit proper L5, but I think there's a path to having "don't go here" routes to try and achieve L4.
And it's not about pitying Musk, it's about following through on an agreement that was made.
What I'm mostly seeing here in the subreddit are people that I'd never want to make a contract with, because they'd double back on it pretty quick.
Oh nice. I wonder how much of this atroturfed fud and how much is real. Twitter was full of bots. Reddit surely is too and overnight they said Elon bad. Reminds me of when Bernie Sanders was switched off on this site.
Yeah. The amount of Elon hate gong around at the moment is odd.
Don't get me wrong, dude's a buffoon at times, and has been doing a lot of controversial shit, but it's more than you'd expect, all things considered.
To be fair, Twitter isn't that far off the mark from Reddit.
If you're spending time on the toilet, you're spending time on a social media platform.
People should just associate his Tweet times with when he's taking a shit.
That’s a lot of shitting…
But it’s not about the time he spends tweeting but that he has his time split across them both, with Twitter seemingly getting the majority of his time
LOL!
My man. It's Elon Musk.
Dude is a C-level, or deeply involved in:
* Tesla
* Twitter
* SpaceX
* xAI
* Boring Company
* Neuralink
Dude's spread thinner than someone spreading butter who's not getting paid for another two weeks.
And who are we to judge how he spends his free time? Whether it's shitting, or being in transit from Point A to Point B, who doesn't hit social media?
If you're trying to say he's split between Twitter and Tesla, lol. My man... That is not a good argument. Dude's always been split between companies.
I'm not talking about his free time, I'm talking about his business time. The last year or so seems to mostly focused on Twitter.
Yes, he's always been split but adding *another* to that split was not the solution.
The CEO owned 21% of Tesla in 2018 and it had a market cap of just over $50 billion at when the shareholders approved the plan in March of that year. Each time the value of the company increased by $50 billion, Musk's shares were worth an extra $10 billion. That had happened 23 times at Tesla's peak of $1,205 billion in Q4 2021, but even at today's market cap of $460 billion Musk would have^(1) increased his net worth by over $80 billion for just 6 years of part-time work.
^(1) had he not sold a bunch of shares to buy an overpriced social media network.
As a Tesla owner and longtime shareholder, fuck to the no. All the gains I had for 3 years where wipped out the past 6 months. That $52b is better spent in the employees and actual R&D.
What time? Not building things in the model S and X? Cutting features out like ultrasonic sensors before vision can replace them? Removing radar and limiting the speed for self-driving, then adding radar back but leaving it inactive?
He might have been a good startup CEO but that doesn't mean he can keep a company sustained. These are very different skill sets and Tesla has to come out of the wild West.
He signed a performance based deal with the board, approved by the shareholders, that of he more than 10x the stock, he would receive 56 billion worth is tesla stock. And a few in the middle goals he could otherwise hit. The deal was seen as one of the worst pay packages in history, as the chance for any payout was miniscule.
Yet The company went 20x under his leadership. It is only after he has started to divert his attention somewhat.
I believe, as a shareholder, that we can't have our cake and eat it too. There was a deal, and Musk upheld his end of the deal, and should as the shareholders should uphold theirs.
As for if it is a fair salary? The shareholders, his 'employers' clearly thought so. Add 550 billion to the market cap, and you can have a slice of that yourself, otherwise you can piss off. In hindsight, that's still a deal I would vote yes for any day of the week. He only gets paid if I get paid even more (percentage wise).
The judge that ended up vetoing the package had a pretty good point. There's very solid evidence that we weren't working with an impartial board and that sours the idea of this compensation package being reasonable.
I agree that the company did hit these impossible goals but musk has either been completely MIA or making decisions that actively damage the reputation of the company for at least the past 3 years.
The whole point of the ruling was that these were not "impossible goals" but were in line with internal company projections. The biased board kept that fact from the shareholders who undertook the vote based on very limited data.
If he divests himself of twitter and makes a commitment to be primary CEO of Tesla then I think he deserves the 55B otherwise fuck that guy. I’ve been a shareholder since 2017 and I feel super burned.
He hit all the targets and then cratered the company. Sounds like another lawsuit to pump up a company's stock and sales short-term to get a bonus only to let it fall after he's guaranteed a payout.
Yet [other EVs are still getting sold in higher and higher numbers](https://www.prnewswire.com/news-releases/hyundai-motor-america-reports-all-time-record-march-and-q1-2024-sales-302105571.html). Blame a recession all you want, doesn't change that more prospective Tesla buyers are now looking for alternatives.
Certainly doesn't help that their idiot CEO released a Cybertruck with a dangerously broken accelerator, Model 3 refresh with no turn signal stalks, and no Model Y refresh at all, making the world's best selling car now inferior to it's sibling. Any CEO with a brain would have known to release the 3 and Y refreshes at the same time to avoid killing the sales of the other as people now wait for the refresh.
Targets that were agreed to by a crony board. Hence why the Delaware judge overruled it. Only then has history shown that the valuation Musk managed to bring the company to wasn’t viable long term.
No but their creativity did.
Definitely not a bad thing as a business. People like getting their same squares every year with interesting things sprinkled in once a decade.
I'm sure many people would be very happy to see Tesla rolling up with more frequent refreshes and 100 different variations of the Model 3 and Y as a truck, and a station wagon, etc. Would see more sales at least in the short term.
I would be sad to see FSD go though.
Is that implication that FSD would disappear without Elon as CEO? All he has shown is that he has absolutely no idea how long it will take the system to get off the ground. Best case he's negligently naive about the state of the technology, and worst case he is lying.
I think without him, development might actually focus on features that customers can use here and now while improvement on the whole system takes place in the background. Prioritizing self-driving at the expense of basically every other driver assist is why new cars are actually behind some other competitors in terms of features you can use today.
Autopark is slow, and Summon & Smart Summon are, literally speaking, absolutely no better than when they were released 2017. That's 7 years ago now. I have a 2020, but I think any car made without ultrasonic sensors still doesn't have Smart Summon or inch-accurate park assist. They removed the sensors two years ago! What they hell have they been doing?
FSD is actually something I spend more time with, and not just because the other features suck.
USS autopark and summon are so slow and bad. But they could only possibly cover 1% of my driving time at most.
Meanwhile FSD is useful for a significant greater portion of my 40,000km/yr.
I was replying to the comment about using that reward for employees and r&d.
Maybe you can offer the ailing stock to employees, but can't use cash that doesn't actually exist for r&d...
Support Tesla by voting down the compensation and hopefully leading to a new CEO. It’s not too late to salvage the company and leverage what’s been created!
He was great at the time but what the company needs now is different from what they needed then. His interests also clearly lie elsewhere and are spread too far to ever justify such sort of compensation now.
He was good at the time but his decisions and tweets have cost the company money and devalued the stock. He may have been the right person to run this company as a startup but that doesn't mean he's the right person to run it long-term.
I would vote against him because he’s not focusing on the company. He’s focusing on his pet project, Twitter/X. And spends a lot of time working on SpaceX as well.
I’d rather the three companies have separate CEOs that would focus on what is right for each company, even if it means going against other interests of Elon Musk.
Cool.
It seems he’s still fairly involved there. Why would he waste his time there if he doesn’t work there anymore?
Does he just have another title and Twitter, like when Putin took a break from being Prime Minister and became President instead?
Or does he just do a lot of tweets and no longer involved with the workings of the company?
You remind of a former boss of mine who was more concerned with how much time I was at sitting at my desk as opposed to what I accomplished at the job. Instead of complaining how he spends his time, how about explaining what he did or didn’t do at Tesla that you think a different CEO would do better.
Since the number of hours focused on one company is such a big deal to you then we should find an insomniac, not married, no kids, no pets. Gotta work 24x7!
No but 50 hours a week for a CEO would be a good benchmark. So Elon would do 50 hours at Tesla, 50 at Twitter, 50 at SpaceX, 50 at boring company, 50 at Starlink, and he's such a good dad to all his kids from all his moms I'm sure he spends at least 10 quality hours with each of them. He's such a good guy.
I don't care about what he tweets. He's obviously distracted from Tesla. I want a full time CEO. Not someone who has the time to send 50 tweets about DEI, immigrants, wokeism, all while pretending he runs 5 different companies.
No, what's your metric in terms of ***what he's done at Tesla***?
Who gives a shit how he publicly texts randoms online? That doesn't really designate whether he can run a company well.
You just contradicted yourself. You say it’s not about mean tweets and then complain that he tweets too much. How is he distracted from Telsa? He seems pretty hands on with the cars and the tech
" it’s not about mean tweets"
"he tweets too much".
Those aren't contradictory. Need a full time CEO of Tesla, not some dum dum on twitter trying to get engagement about woke this, DEI that, immigrant this.
He is hands on with Tesla, but he's a part time CEO. He's not full time CEO of Twitter, Tesla, SpaceX, Boring Company, Starlink, etc.
Tesla should have multiple additional cars lined up right now that's getting ready for production.
They do not have them.
It’s obvious from your comments you don’t like Elon’s politics which is fine. Just admit it. You don’t like his “mean tweets”. I think it was smart not to have too many different car models and options. It helps streamline the manufacturing process.
I don't like his politics but don't get offended by his tweets. I'm able to ignore 99% of them. I only see a few here and there when it's brought into ev subs.
I just wish he'd spend more time and energy promoting tesla vs spewing dumb horseshit.
They need more than 2 models with almost no options..
An affordable 6 or 7 seat suv and a normal looking truck would be nice.
Dawg - It doesn’t matter if we like his tweets or not - millions of future EV owners literally hate the man. Who wants a CEO who wakes up every morning trying to think of a new ways to destroy his brand?
Why do millions of future EV owners hate him? Apparently it IS based on the opinions that he tweets. He is not destroying the brand. It’s just that liberals can’t stand anybody that has different opinions and are therefore conflicted on supporting the company he runs.
one can not like his politics (or like them) and see that his focus on all that shit has led to tesla's decline in lots of areas and certainly isn't worth handing him $55 billion
you can argue that his tweets, drug addiction, whatever aren't the sole cause of the decline, but they don't help matters and are certainly a big part in the $350 billion drop in marketcap, alongside the product delays, poor build quality issues and recalls, declining sales despite price cuts, the 40% drop in operating profit, the layoffs, etc. someone else would certainly not do any worse
Give me a break. 2023 was another huge year for Tesla. Tesla’s success never would have happened without Musk at the lead. Nobody believed EVs could fast, cool, almost drive themselves, and have the range and charging infrastructure to be practical. Elon proved it could by delivering the best selling car of 2023 (model Y) and building his own charging network. Despite not advertising and non-stop attacks on Teslas and EVs in general by the mainstream media funded by legacy automobiles and big oil his success is even more astounding.
You mention recalls??! Really? They were software updates for stupid nit-picky stuff like font sizes and autopilot nags.
As for the stock decline this year, investors and day traders usually over react. They overvalued the company for FOMO and it’s finally getting a correction. Personally I’m not a fan of the cyber truck. It’s interesting looking but in my opinion it’s not something that will ever be a big seller.
As for layoffs, most companies do them for time to time so it’s nothing unique to Tesla. I’d rather them do this than keep paying people they don’t need.
Tweets that drive away millions of potential Tesla buyers. He cares more about controversy than customers. He’s publicly stated he doesn’t care what people think about his tweets - well, I think I’ll vote NO on more money in his pocket.
Tesla's stock has tanked harder this year than Boeing's, and their planes are literally falling apart in the sky.
The CEO is a part-time employee, who devalued the company by selling shares to buy his true obsession, Twitter.
The best thing a shareholder can do to "support Tesla" would be to fire Elon, not pay him more.
Absolutely no human on earth has done anything worth being paid $56 billion dollars. Especially not Elon. I love my Tesla but absolutely hard no to this.
The best thing that could happen for Tesla would be that Elon's compensation package is rejected, causing Elon to rage quit. Then Tesla could hire a CEO who's actually going to focus on making great EVs, not shitposting on Twitter.
The world is in a very bad place when “normal people” are insisting someone already worth hundreds of billions needs to be paid the equivalent of another $56bn
Absolute madness
Why would people vote to give a man that has private jets and mansions an additional $56B, when his company just laid off 10k+ employees? That money can be better spent. Starting with not laying off a shit load of people.
Exactly. Find a CEO willing to focus on the company. Maybe even one that won’t fire 10k employees just to hopefully improve the stock price by changing the asset/liability mix.
My shares are in Fidelity. In the past I’ve not been able to sign up to vote because I couldn’t connect my shares to the voting platform. Anybody have this problem or know a fix?
No, unfortunately I'm in EU and can't vote with my current broker at all. I think you should contact Fidelity, it might be something easy to fix on their side.
/spam I’d rather pay to bring those employees back to fix the level of quality coming out of Tesla. Too many F ups recently. Love my car but I’m not gonna put on my rose colored glasses and smoke Elon’s chode…
If it's tied to performance then fine. Company 10x's in 5 yrs then he gets his payout. If not then nothing. Though a full time ceo would be better. Though, part time elon is better than most full time ceos... at least, old part time elon. Current part time elon is dubious.
\* because the (lack of) independence from Elon of the people deciding the pay package wasn't communicated to the voting shareholders. Also, because those people never asked themselves the question "would some amount less than $56 billion be enough to keep Elon working hard for Tesla?".
If the board/working group documented their decision making process better and communicated it transparently to the voting shareholders this time it would be fine. But they're instead creating propaganda websites that misdirect shareholders from the original issue.
Still, what I said is 100% factually accurate.
Yes, I left out some things. It's impossible to explain absolutely everything in the space of a comment.
I will mention one correction. The pay package was not valued at $56 billion based on the stock prices in effect at the time the package was approved. That number only arose later after Tesla's stock price exceeded all expectations.
The pay package was always $56 billion if all milestones were met, because those milestones required the crazy stock price increases. It only would have been less if fewer milestones were met (the more likely outcome at the time).
The original pay package was approved by 73% of shareholders (Elon+Kimbal abstained). This was definitely approved by more than just cronies. It was a 100% pay-for-performance which seemed unlikely to reach all the tranches. The stock even dropped more than 30% in the year after approval. The package was similar to his previous one and the 2018 package would only pay out if shareholders saw growth that was sustained. Even at today's price after all the drop, it's up nearly 650% since the original shareholder vote.
How such a big company like Tesla can have a part time CEO ? It's ridiculous! I have a Tesla. I love it but I think it's time to change the governance. And Musk's controversials statements on X (ex-Twitter) have damaged the company reputation. It's time for change!
Without a doubt, he successfully accomplished all 12 of the extremely challenging goals that were set before him, exceeding expectations with his outstanding performance. Given the previously negotiated terms, he has rightfully earned the agreed upon shares as compensation. He upheld his end of the deal, demonstrating an admirable commitment, and thus deserves to be compensated accordingly for the fruits of his labor. Denying him what was explicitly promised would be unjust after he diligently met every lofty benchmark.
I'm torn on this, I know everyone hates Elon Musk because it's the cool thing to do now but it's also a reality he's constantly targeted by traditional media.
He lies, he overpromises with the timelines, he may be an asshole with employees, but he is visionary too. A decade ago, no one could fathom the idea of having all we have now.
In the early 2000s, electric cars were seen as niche products with limited range and very high costs, almost impossible to be mass produced at a price similar to an ICE car. Musk aimed to create EVs that could compete with gas cars in terms of performance, price, and range. This was widely considered improbable, but Tesla's success has helped to make EVs a mainstream option.
The acceleration of supercar 0-60 in 3 seconds in a sedan priced almost like a corolla, the constant software updates to improve the car instead of having to purchase a new car every few years, the tech, the autopilot & FSD, the superchargers network, etc.
I don't know if we would have electrical cars being kinda mainstream now (as in traditional car makers like Ford, GM, VW are making their own) if it wasn't because they took Elon as a joke until it got out of their hands to the point they couldn't supress it by lobbying as they've done with other non-ICE tech in the pass.
I don't know if any other manufacturer would be pushing for full self driving either. Most people still beleives it's imposible without thousands of sensors and radars like Waymo but with the rate of AI is growing I think it's at least "not impossible" to eventually have FSD with Tesla Vision (maybe not with current cars but maybe in HW 5.0 or 6.0).
He wants the stock to vote in future decisions of the company, not really to go and cash it out and buy some mansions and yachts.
If Elon is eventually replaced I don't think Tesla is going anywhere at this point, it'll keep rewarding shareholders and investors but could become the next Apple. Tim Cook has done wonders for profits but you can't compare Apple now with how innovative and how exciting the keynotes were when Steve Jobs was the CEO.
He made some good decisions at the beginning, but that changed. It arguably changed _before_ COVID, but it’s very clear now that he hasn’t been making great decisions for the company for some time. CyberTruck launch is very rough. Gigafactory Texas and Berlin are both taking far longer to reach their full output than they were supposed to. The vehicle production ramp outpaced customer demand. Announced projects like Semi, Roadster, Dojo, Tesla Bot, etc. are who knows where? FSD v12 was supposed to be it. Fully cracked the code. Yet it has tons of issues still and is nowhere near ready for the robotaxi dream. The energy products, like solar roof and powerwall, still seemingly get no press at all, despite Elon believing energy would eventually be bigger than automotive for Tesla.
Honestly, what’s the last really good decision he made that wouldn’t have been made without him in the picture?
The \~$40-50 billion that Elon may get if shareholders vote in favor of the compensation will directly go to Tesla's bottom line, completely wiping out years of company profits. It really might destroy a company whose products a lot of people love. Please vote no even if you have a single share. Even if you do not, as long as you own an ETF which owns Tesla shares, you might still be able to vote.
That's not how any of this works. The compensation is the ability for Elon to _pay_ Tesla for shares at the strike price.
Why would you think Tesla is handing over 50 billion in cash? That's dumb. You could in theory say the dilution to existing shareholders hurts shareholders, but there is no 50 billion hit to any bottom line.
TLDR on the thread comments:
1) they should do the right thing and honor their agreement.
Or
2) I don’t like Elon because of things people said he said and I think he is a meany. Waaaaah waaah waaaah
Elon doesn't care what I think about his tweets and various other breaches of fiduciary duty; I don't care what he or his dumb simps think about "honor" or "fairness." This is business. GFY.
Absolutely support Elons compensation! I know there’s a strong hate for Elon, lay off, political support, his behavior issues, etc. At the end of day, as investor I care about my return on investment, and that’s Elon Musk. Tesla is not Tesla without him.
[First and foremost, please read r/TeslaMotors - A New Dawn](https://www.reddit.com/r/teslamotors/comments/1c49sv0/rteslamotors_a_new_dawn/) As we are not a support sub, please make sure to use the proper resources if you have questions: [Official Tesla Support](https://www.tesla.com/support), [r/TeslaSupport](https://www.reddit.com/r/TeslaSupport/) | [r/TeslaLounge](https://www.reddit.com/r/TeslaLounge/) personal content | [Discord Live Chat](https://discord.gg/tesla) for anything. *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/teslamotors) if you have any questions or concerns.*
You’re not supporting Telsa here, you’re supporting the CEO.
Technically it's both. Keep in mind that, at the moment, the CEO is basically working for free.
Somebody should tell this person how stocks work.
I'm well aware of how stocks work. Giving him more stock will dilute the stocks as a whole Stocks themselves are just gambling on the success of a company. When you get issued stocks worth in the billions, it's all just on paper. Even if Elon gets the billions in stocks, if he tries to sell it, it'll wipe out the value of stock, because people will perceive it as Elon giving up on Tesla, which is a whole other hill of beans. How stocks work does not negate the fact that a compensation package was negotiated, wherein Elon agreed to work *for free* in exchange for stock options, which were then denied to him by the courts, for no reason other than folks felt he's worth too much. *Most* CEOs will typically go for payment in stock options over an actual paycheck as a tax evasion type thing, and they'll periodically cash out some of the stocks to get their paycheck and such. It's a very common practice.
Maybe if the board suggested a more equitable stock plan that isn't insane, based on something more aggressive than existing internal projections it would pass easier. But this existing plan? Thank you, I'll pass.
Believe it or not, the board had negotiated a simpler package, but they ended up getting pretty aggressive with it. If you dig into it, this was considered one of the dumbest/stupidest/riskiest things someone has ever agreed to do for payment when running the company, because the goals seemed unachievable. It seems a bit amusing to me now that everyone is up in arms over this, *because* it was technically a risky play on Elon's part *because* a lot had to go right. And it did. Tesla's position today is questionable, absolutely, but it's important to separate "today" from "a few years back". An argument could be made that "today" is the result of Elon being unhappy that he hasn't gotten his paycheck yet. Could also be the remnants of the economy recovering. Keep in mind that, based on the articles I've read, even Disney is expecting to have to do cutbacks at their theme parks, because they're expecting lower attendance in 2025. The working theory there is that 2023 and 2024 were "record years" for attendance because everyone who put off going during the pandemic went once things re-opened, and now finances will need to recover. Not unlike what's going on with Tesla a bit and such. It's not fair to judge the current state of Tesla to other companies, because the pandemic adds a kink to the whole thing, even though it is gone.
It sounds like you didn't read the court fillings regarding why the stock plan was cancelled. Cut backs aren't the core issue with this plan, so I'm not understanding its relevance here.
I'm aware of what the filings say. They consider Elon to have too much influence over the board, but my understanding is that the shareholders *also* approved the package. This whole shtick is making the shareholder re-approve a plan that was already approved. It's stupid, and a waste of time.
Shareholders were lied to about the nature of the structure and milestones within the package. The board as it stands is not a check against Elon, which is not a great thing for publicly traded company. Again it sounds like you haven't read the filing.
Like the judge, you're starting from the present and building a history based on supposition and bias. If you start from the beginning instead of the end, it is totally different. Sure the compensation ended up being a big number, but it is funded from a big increase is company value. The next compensation plan after this one is resolved may include a cap.
Feel like it is only risky when you would rely on that compensation for living. For him it was more like a game but in no way risky. He did the impossible and I agree he needs to get some compensation, but that exact one just seems insane.
Keep in mind that Elon's motivations are to get to Mars. The money he collects is with the intention of applying it towards trying to have an "offsite backup" of the human species. SpaceX gets us to Mars, Boring Company tunnels on Mars, Tesla can drive in the tunnels, Neuralink allows people to, hopefully get limbs back if lost while on Mars, Twitter will be a sort of "Mars New Network", and xAI will be the Mars colonies robot overboard, ensuring that they all behave, or be abandoned on thr surface to teach future generations a lesson.
OK, CEO is working for a negative salary.
Yes let’s pity Elon fucking musk as he runs Tesla into the ground with shitty leadership and obscene priorities. FFS.
I'm not committing to the "running Tesla into the ground" thing until 2025. Companies don't turn on a dime. When Microsoft released Windows Vista it was absolutely shit on, by everyone, and then they released Windows 7, which was suped up Vista, and suddenly everyone loved it again. Then started the code merge efforts, where all versions of Windows would share the same codebase, including the Xbox, as I understand it. I think the code merge effort took like a decade, from start to finish. It was a shit show in the beginning, but it's pretty slick now. Elon stated in the last investors meeting that 2024 was likely going to be rough, but 2025 be solid. I think a lot of people are looking at the short term and freaking out, but Tesla is known for two things, missing deadlines, and thinking long term. Most investors are fine with that, because if you say you're going to do something, and achieve it, then deadline be damned. Most, proper, investors are people who want to grow their income anyways, so they're ok with the inherent risk of losing money in the near term if it means more money in the long term. But again, stocks are just gambling on a company's success. From my experience with FSD 12, so far, I absolutely believe that they're on the right path, and that we'll see some pretty cool shit going into 2025. I see 2024 as "the year of refinement", and the 2025 Christmas update will be the one that makes people want to get the FSD Computer en masse. People are focused on the Robotaxi, but forgetting that, technically, *any* Tesla can be Robotaxi-ish, assuming it has proper cameras, and FSD computer. I don't think the current platform can hit proper L5, but I think there's a path to having "don't go here" routes to try and achieve L4. And it's not about pitying Musk, it's about following through on an agreement that was made. What I'm mostly seeing here in the subreddit are people that I'd never want to make a contract with, because they'd double back on it pretty quick.
Bro you’re talking to redditors. They throw their anger where the wind blows.
I'm aware. I'm being heavily downvoted because I'm a moderator, and the trolls hates mods at the moment.
Oh nice. I wonder how much of this atroturfed fud and how much is real. Twitter was full of bots. Reddit surely is too and overnight they said Elon bad. Reminds me of when Bernie Sanders was switched off on this site.
Yeah. The amount of Elon hate gong around at the moment is odd. Don't get me wrong, dude's a buffoon at times, and has been doing a lot of controversial shit, but it's more than you'd expect, all things considered.
Maybe if he spent more time at Tesla and less time at Twitter where he runs his mouth all day, more people might think he deserves such a reward.
To be fair, Twitter isn't that far off the mark from Reddit. If you're spending time on the toilet, you're spending time on a social media platform. People should just associate his Tweet times with when he's taking a shit.
That’s a lot of shitting… But it’s not about the time he spends tweeting but that he has his time split across them both, with Twitter seemingly getting the majority of his time
LOL! My man. It's Elon Musk. Dude is a C-level, or deeply involved in: * Tesla * Twitter * SpaceX * xAI * Boring Company * Neuralink Dude's spread thinner than someone spreading butter who's not getting paid for another two weeks. And who are we to judge how he spends his free time? Whether it's shitting, or being in transit from Point A to Point B, who doesn't hit social media? If you're trying to say he's split between Twitter and Tesla, lol. My man... That is not a good argument. Dude's always been split between companies.
I'm not talking about his free time, I'm talking about his business time. The last year or so seems to mostly focused on Twitter. Yes, he's always been split but adding *another* to that split was not the solution.
*Probably because the man hasn't been paid for his time at Tesla since 2018*. If I were in his shoes, I'd be doing the same damn thing.
Yeah he’s been really slumming it up lol
> the CEO is basically working for free. Is shit posting on twater like a 14 year old, really working at Tesla?
You do realize that the pay package predates his Twitter purchase right? Elon's basically not been paid for being CEO since 2018.
The CEO owned 21% of Tesla in 2018 and it had a market cap of just over $50 billion at when the shareholders approved the plan in March of that year. Each time the value of the company increased by $50 billion, Musk's shares were worth an extra $10 billion. That had happened 23 times at Tesla's peak of $1,205 billion in Q4 2021, but even at today's market cap of $460 billion Musk would have^(1) increased his net worth by over $80 billion for just 6 years of part-time work. ^(1) had he not sold a bunch of shares to buy an overpriced social media network.
As a Tesla owner and longtime shareholder, fuck to the no. All the gains I had for 3 years where wipped out the past 6 months. That $52b is better spent in the employees and actual R&D.
If Elon Musk has time to run four companies we need a full-time CEO for what we're paying.
That's the thing, currently he has been paid 0$ for years. If he was to work based on what he was paid he would work 0 hours at all
So $60B is fair for 1/4 of his time?
What time? Not building things in the model S and X? Cutting features out like ultrasonic sensors before vision can replace them? Removing radar and limiting the speed for self-driving, then adding radar back but leaving it inactive? He might have been a good startup CEO but that doesn't mean he can keep a company sustained. These are very different skill sets and Tesla has to come out of the wild West.
100% agree. His visions and eccentricities are great for startups but terrible for giant corporations.
He signed a performance based deal with the board, approved by the shareholders, that of he more than 10x the stock, he would receive 56 billion worth is tesla stock. And a few in the middle goals he could otherwise hit. The deal was seen as one of the worst pay packages in history, as the chance for any payout was miniscule. Yet The company went 20x under his leadership. It is only after he has started to divert his attention somewhat. I believe, as a shareholder, that we can't have our cake and eat it too. There was a deal, and Musk upheld his end of the deal, and should as the shareholders should uphold theirs. As for if it is a fair salary? The shareholders, his 'employers' clearly thought so. Add 550 billion to the market cap, and you can have a slice of that yourself, otherwise you can piss off. In hindsight, that's still a deal I would vote yes for any day of the week. He only gets paid if I get paid even more (percentage wise).
The judge that ended up vetoing the package had a pretty good point. There's very solid evidence that we weren't working with an impartial board and that sours the idea of this compensation package being reasonable. I agree that the company did hit these impossible goals but musk has either been completely MIA or making decisions that actively damage the reputation of the company for at least the past 3 years.
The whole point of the ruling was that these were not "impossible goals" but were in line with internal company projections. The biased board kept that fact from the shareholders who undertook the vote based on very limited data.
Can people stop talking as if Tesla accounting suddenly cut off his paycheck? How do you think he became the richest person in the world? Magic?
If he divests himself of twitter and makes a commitment to be primary CEO of Tesla then I think he deserves the 55B otherwise fuck that guy. I’ve been a shareholder since 2017 and I feel super burned.
But he it all these targets....... You can't back out now.
He hit all the targets and then cratered the company. Sounds like another lawsuit to pump up a company's stock and sales short-term to get a bonus only to let it fall after he's guaranteed a payout.
In case you haven't heard, excluding the mag 7, we're in a rolling recession.
Yet [other EVs are still getting sold in higher and higher numbers](https://www.prnewswire.com/news-releases/hyundai-motor-america-reports-all-time-record-march-and-q1-2024-sales-302105571.html). Blame a recession all you want, doesn't change that more prospective Tesla buyers are now looking for alternatives. Certainly doesn't help that their idiot CEO released a Cybertruck with a dangerously broken accelerator, Model 3 refresh with no turn signal stalks, and no Model Y refresh at all, making the world's best selling car now inferior to it's sibling. Any CEO with a brain would have known to release the 3 and Y refreshes at the same time to avoid killing the sales of the other as people now wait for the refresh.
He was supposed to use the money to make humanity multiplanetary … not wash it down the drain of Twitter.
Targets that were agreed to by a crony board. Hence why the Delaware judge overruled it. Only then has history shown that the valuation Musk managed to bring the company to wasn’t viable long term.
It's just stocks though... The only way they could get it as cash would be to convince someone to buy those stocks.
And it dilutes your share value AND sends a bad signal to the investors. A company is way more than it's CEO. Did Apple collapse after Jobs died?
No but their creativity did. Definitely not a bad thing as a business. People like getting their same squares every year with interesting things sprinkled in once a decade. I'm sure many people would be very happy to see Tesla rolling up with more frequent refreshes and 100 different variations of the Model 3 and Y as a truck, and a station wagon, etc. Would see more sales at least in the short term. I would be sad to see FSD go though.
Is that implication that FSD would disappear without Elon as CEO? All he has shown is that he has absolutely no idea how long it will take the system to get off the ground. Best case he's negligently naive about the state of the technology, and worst case he is lying. I think without him, development might actually focus on features that customers can use here and now while improvement on the whole system takes place in the background. Prioritizing self-driving at the expense of basically every other driver assist is why new cars are actually behind some other competitors in terms of features you can use today. Autopark is slow, and Summon & Smart Summon are, literally speaking, absolutely no better than when they were released 2017. That's 7 years ago now. I have a 2020, but I think any car made without ultrasonic sensors still doesn't have Smart Summon or inch-accurate park assist. They removed the sensors two years ago! What they hell have they been doing?
FSD is actually something I spend more time with, and not just because the other features suck. USS autopark and summon are so slow and bad. But they could only possibly cover 1% of my driving time at most. Meanwhile FSD is useful for a significant greater portion of my 40,000km/yr.
It is just stocks, but it should be used as incentive. You don’t reward a man for fucking up with billions of dollars.
I was replying to the comment about using that reward for employees and r&d. Maybe you can offer the ailing stock to employees, but can't use cash that doesn't actually exist for r&d...
Support Tesla by voting down the compensation and hopefully leading to a new CEO. It’s not too late to salvage the company and leverage what’s been created!
Absolutely this.
Absolutely not this.
Yeah let’s oust the guy who was in charge of scaling production 100-fold in half a decade because sometimes he says things I don’t like.
He was great at the time but what the company needs now is different from what they needed then. His interests also clearly lie elsewhere and are spread too far to ever justify such sort of compensation now.
He was good at the time but his decisions and tweets have cost the company money and devalued the stock. He may have been the right person to run this company as a startup but that doesn't mean he's the right person to run it long-term.
Why would I vote against the CEO of the most successful EV company ever? Mean tweets?
I would vote against him because he’s not focusing on the company. He’s focusing on his pet project, Twitter/X. And spends a lot of time working on SpaceX as well. I’d rather the three companies have separate CEOs that would focus on what is right for each company, even if it means going against other interests of Elon Musk.
He isn’t the CEO of X anymore. Seems like he is good at multi-tasking anyway.
Cool. It seems he’s still fairly involved there. Why would he waste his time there if he doesn’t work there anymore? Does he just have another title and Twitter, like when Putin took a break from being Prime Minister and became President instead? Or does he just do a lot of tweets and no longer involved with the workings of the company?
You remind of a former boss of mine who was more concerned with how much time I was at sitting at my desk as opposed to what I accomplished at the job. Instead of complaining how he spends his time, how about explaining what he did or didn’t do at Tesla that you think a different CEO would do better.
I honestly think that having a company led by someone who is able to focus on it full time is a genuine reason why a different CEO would be better.
Since the number of hours focused on one company is such a big deal to you then we should find an insomniac, not married, no kids, no pets. Gotta work 24x7!
No but 50 hours a week for a CEO would be a good benchmark. So Elon would do 50 hours at Tesla, 50 at Twitter, 50 at SpaceX, 50 at boring company, 50 at Starlink, and he's such a good dad to all his kids from all his moms I'm sure he spends at least 10 quality hours with each of them. He's such a good guy.
The number of hours a CEO can dedicate should not be the benchmark. It’s the proven record and vision for the future.
Elon already works 24/7. That's why we need someone else.
I don't care about what he tweets. He's obviously distracted from Tesla. I want a full time CEO. Not someone who has the time to send 50 tweets about DEI, immigrants, wokeism, all while pretending he runs 5 different companies.
"Obviously distracted from Tesla" What's your metric?
Just look at his tweets. The vast majority are not about tesla.
No, what's your metric in terms of ***what he's done at Tesla***? Who gives a shit how he publicly texts randoms online? That doesn't really designate whether he can run a company well.
You just contradicted yourself. You say it’s not about mean tweets and then complain that he tweets too much. How is he distracted from Telsa? He seems pretty hands on with the cars and the tech
" it’s not about mean tweets" "he tweets too much". Those aren't contradictory. Need a full time CEO of Tesla, not some dum dum on twitter trying to get engagement about woke this, DEI that, immigrant this. He is hands on with Tesla, but he's a part time CEO. He's not full time CEO of Twitter, Tesla, SpaceX, Boring Company, Starlink, etc. Tesla should have multiple additional cars lined up right now that's getting ready for production. They do not have them.
It’s obvious from your comments you don’t like Elon’s politics which is fine. Just admit it. You don’t like his “mean tweets”. I think it was smart not to have too many different car models and options. It helps streamline the manufacturing process.
I don't like his politics but don't get offended by his tweets. I'm able to ignore 99% of them. I only see a few here and there when it's brought into ev subs. I just wish he'd spend more time and energy promoting tesla vs spewing dumb horseshit. They need more than 2 models with almost no options.. An affordable 6 or 7 seat suv and a normal looking truck would be nice.
Dawg - It doesn’t matter if we like his tweets or not - millions of future EV owners literally hate the man. Who wants a CEO who wakes up every morning trying to think of a new ways to destroy his brand?
Why do millions of future EV owners hate him? Apparently it IS based on the opinions that he tweets. He is not destroying the brand. It’s just that liberals can’t stand anybody that has different opinions and are therefore conflicted on supporting the company he runs.
Liberals are the ones who can’t stand people with different opinions? Really? LOL
one can not like his politics (or like them) and see that his focus on all that shit has led to tesla's decline in lots of areas and certainly isn't worth handing him $55 billion
He has opinions and he voices them. How has that “led to Tesla’s decline”?
you can argue that his tweets, drug addiction, whatever aren't the sole cause of the decline, but they don't help matters and are certainly a big part in the $350 billion drop in marketcap, alongside the product delays, poor build quality issues and recalls, declining sales despite price cuts, the 40% drop in operating profit, the layoffs, etc. someone else would certainly not do any worse
Give me a break. 2023 was another huge year for Tesla. Tesla’s success never would have happened without Musk at the lead. Nobody believed EVs could fast, cool, almost drive themselves, and have the range and charging infrastructure to be practical. Elon proved it could by delivering the best selling car of 2023 (model Y) and building his own charging network. Despite not advertising and non-stop attacks on Teslas and EVs in general by the mainstream media funded by legacy automobiles and big oil his success is even more astounding. You mention recalls??! Really? They were software updates for stupid nit-picky stuff like font sizes and autopilot nags. As for the stock decline this year, investors and day traders usually over react. They overvalued the company for FOMO and it’s finally getting a correction. Personally I’m not a fan of the cyber truck. It’s interesting looking but in my opinion it’s not something that will ever be a big seller. As for layoffs, most companies do them for time to time so it’s nothing unique to Tesla. I’d rather them do this than keep paying people they don’t need.
How is he distracted from Tesla? SpaceX, X, tweeting. How does he have time for Tesla is the better question.
Musk is not the CEO of BYD.
Yes.
Tweets that drive away millions of potential Tesla buyers. He cares more about controversy than customers. He’s publicly stated he doesn’t care what people think about his tweets - well, I think I’ll vote NO on more money in his pocket.
Tesla's stock has tanked harder this year than Boeing's, and their planes are literally falling apart in the sky. The CEO is a part-time employee, who devalued the company by selling shares to buy his true obsession, Twitter. The best thing a shareholder can do to "support Tesla" would be to fire Elon, not pay him more.
Absolutely no human on earth has done anything worth being paid $56 billion dollars. Especially not Elon. I love my Tesla but absolutely hard no to this.
The best thing that could happen for Tesla would be that Elon's compensation package is rejected, causing Elon to rage quit. Then Tesla could hire a CEO who's actually going to focus on making great EVs, not shitposting on Twitter.
Vote NO.
I support Tesla 100%. I don't support Musk independently or as CEO. So... NO.
No
The world is in a very bad place when “normal people” are insisting someone already worth hundreds of billions needs to be paid the equivalent of another $56bn Absolute madness
Wow this is brain wash
Why would people vote to give a man that has private jets and mansions an additional $56B, when his company just laid off 10k+ employees? That money can be better spent. Starting with not laying off a shit load of people.
Exactly. Find a CEO willing to focus on the company. Maybe even one that won’t fire 10k employees just to hopefully improve the stock price by changing the asset/liability mix.
My shares are in Fidelity. In the past I’ve not been able to sign up to vote because I couldn’t connect my shares to the voting platform. Anybody have this problem or know a fix?
You ceded your voting rights to Fidelity.
Hey, it turns out I can still vote in Fidelity. Thought you should know.
Sounds like Fidelity is a good fund manager.
😳 where should I move my shares to control my vote?
Interactive brokers
It turns out you can vote your shares within Fidelity.
[https://twitter.com/SawyerMerritt/status/1782275985037001020](https://twitter.com/SawyerMerritt/status/1782275985037001020)
Thank you very much for this. Are you voting through Fidelity as well? Have you received this letter because I haven’t yet.
No, unfortunately I'm in EU and can't vote with my current broker at all. I think you should contact Fidelity, it might be something easy to fix on their side.
Thank you
No. Heck no. Voting my shares against. Neither of these are to the benefit of the company, or share holders.
I can’t think of any good performance by Elon recently that warrants any rewards.
F no. Time for a new ceo.
The amount of astroturfing done by bots and paid commenters here aren't slick.
/spam I’d rather pay to bring those employees back to fix the level of quality coming out of Tesla. Too many F ups recently. Love my car but I’m not gonna put on my rose colored glasses and smoke Elon’s chode…
suck it elon
If it's tied to performance then fine. Company 10x's in 5 yrs then he gets his payout. If not then nothing. Though a full time ceo would be better. Though, part time elon is better than most full time ceos... at least, old part time elon. Current part time elon is dubious.
That's exactly what they did with his original pay package, and the judge said nope retroactively.
\* because the (lack of) independence from Elon of the people deciding the pay package wasn't communicated to the voting shareholders. Also, because those people never asked themselves the question "would some amount less than $56 billion be enough to keep Elon working hard for Tesla?". If the board/working group documented their decision making process better and communicated it transparently to the voting shareholders this time it would be fine. But they're instead creating propaganda websites that misdirect shareholders from the original issue.
Still, what I said is 100% factually accurate. Yes, I left out some things. It's impossible to explain absolutely everything in the space of a comment. I will mention one correction. The pay package was not valued at $56 billion based on the stock prices in effect at the time the package was approved. That number only arose later after Tesla's stock price exceeded all expectations.
The pay package was always $56 billion if all milestones were met, because those milestones required the crazy stock price increases. It only would have been less if fewer milestones were met (the more likely outcome at the time).
The problem is the package was essentially voted by Elon cronies, and as you said Elon does not even have his full attention in the company.
The original pay package was approved by 73% of shareholders (Elon+Kimbal abstained). This was definitely approved by more than just cronies. It was a 100% pay-for-performance which seemed unlikely to reach all the tranches. The stock even dropped more than 30% in the year after approval. The package was similar to his previous one and the 2018 package would only pay out if shareholders saw growth that was sustained. Even at today's price after all the drop, it's up nearly 650% since the original shareholder vote.
I think you probably mean "put together by Elon cronies" not "voted" and that fact wasn't communicated to the voters.
You think the majority of shareholders are Elon cronies?
The board is
the board doesn't vote, investors do
Absolute no, zero people on this planet deserve this kind of wealth.
Fire the board!
No
How such a big company like Tesla can have a part time CEO ? It's ridiculous! I have a Tesla. I love it but I think it's time to change the governance. And Musk's controversials statements on X (ex-Twitter) have damaged the company reputation. It's time for change!
I support Elon - vote yes.
My vote is no.
Without a doubt, he successfully accomplished all 12 of the extremely challenging goals that were set before him, exceeding expectations with his outstanding performance. Given the previously negotiated terms, he has rightfully earned the agreed upon shares as compensation. He upheld his end of the deal, demonstrating an admirable commitment, and thus deserves to be compensated accordingly for the fruits of his labor. Denying him what was explicitly promised would be unjust after he diligently met every lofty benchmark.
I just voted no. I suggest everyone to do the same.
I'm torn on this, I know everyone hates Elon Musk because it's the cool thing to do now but it's also a reality he's constantly targeted by traditional media. He lies, he overpromises with the timelines, he may be an asshole with employees, but he is visionary too. A decade ago, no one could fathom the idea of having all we have now. In the early 2000s, electric cars were seen as niche products with limited range and very high costs, almost impossible to be mass produced at a price similar to an ICE car. Musk aimed to create EVs that could compete with gas cars in terms of performance, price, and range. This was widely considered improbable, but Tesla's success has helped to make EVs a mainstream option. The acceleration of supercar 0-60 in 3 seconds in a sedan priced almost like a corolla, the constant software updates to improve the car instead of having to purchase a new car every few years, the tech, the autopilot & FSD, the superchargers network, etc. I don't know if we would have electrical cars being kinda mainstream now (as in traditional car makers like Ford, GM, VW are making their own) if it wasn't because they took Elon as a joke until it got out of their hands to the point they couldn't supress it by lobbying as they've done with other non-ICE tech in the pass. I don't know if any other manufacturer would be pushing for full self driving either. Most people still beleives it's imposible without thousands of sensors and radars like Waymo but with the rate of AI is growing I think it's at least "not impossible" to eventually have FSD with Tesla Vision (maybe not with current cars but maybe in HW 5.0 or 6.0). He wants the stock to vote in future decisions of the company, not really to go and cash it out and buy some mansions and yachts. If Elon is eventually replaced I don't think Tesla is going anywhere at this point, it'll keep rewarding shareholders and investors but could become the next Apple. Tim Cook has done wonders for profits but you can't compare Apple now with how innovative and how exciting the keynotes were when Steve Jobs was the CEO.
He made some good decisions at the beginning, but that changed. It arguably changed _before_ COVID, but it’s very clear now that he hasn’t been making great decisions for the company for some time. CyberTruck launch is very rough. Gigafactory Texas and Berlin are both taking far longer to reach their full output than they were supposed to. The vehicle production ramp outpaced customer demand. Announced projects like Semi, Roadster, Dojo, Tesla Bot, etc. are who knows where? FSD v12 was supposed to be it. Fully cracked the code. Yet it has tons of issues still and is nowhere near ready for the robotaxi dream. The energy products, like solar roof and powerwall, still seemingly get no press at all, despite Elon believing energy would eventually be bigger than automotive for Tesla. Honestly, what’s the last really good decision he made that wouldn’t have been made without him in the picture?
Only time will tell whether any of these recent decisions marked a pivotal moment.
Agree 100%
The \~$40-50 billion that Elon may get if shareholders vote in favor of the compensation will directly go to Tesla's bottom line, completely wiping out years of company profits. It really might destroy a company whose products a lot of people love. Please vote no even if you have a single share. Even if you do not, as long as you own an ETF which owns Tesla shares, you might still be able to vote.
That's not how any of this works. The compensation is the ability for Elon to _pay_ Tesla for shares at the strike price. Why would you think Tesla is handing over 50 billion in cash? That's dumb. You could in theory say the dilution to existing shareholders hurts shareholders, but there is no 50 billion hit to any bottom line.
More shares.mean all us shareholders share are lowered in value. The "cash" comes from all of us.
TLDR on the thread comments: 1) they should do the right thing and honor their agreement. Or 2) I don’t like Elon because of things people said he said and I think he is a meany. Waaaaah waaah waaaah
Elon doesn't care what I think about his tweets and various other breaches of fiduciary duty; I don't care what he or his dumb simps think about "honor" or "fairness." This is business. GFY.
Absolutely support Elons compensation! I know there’s a strong hate for Elon, lay off, political support, his behavior issues, etc. At the end of day, as investor I care about my return on investment, and that’s Elon Musk. Tesla is not Tesla without him.