Delaware judge strikes down Elon Musk's Tesla pay package for 2nd time
Delaware judge strikes down Elon Musk's Tesla pay package for 2nd time
Tesla shareholders approved Elon Musk's pay package in June, after it was voided by a judge in January. But that wasn't enough, the court ruled.
Summary via ChatGPT
A Delaware judge invalidated Elon Musk's $56 billion Tesla pay package for a second time, citing undue influence and unfair terms set by Musk. Despite shareholder approval earlier this year, the court ruled the process failed to address governance concerns and transparency. The judge emphasized the board's failure to prove the compensation plan's fairness, suggesting alternative, reasonable payment options were possible. Tesla may appeal the decision or propose a new compensation plan.
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Why does he get to keep appealing if it's already been struck down twice? Fuck this guy.
Risk vs Reward.
A relatively small cost towards legal fees has a decent chance to yield a large payoff.
Musk is a warped gollum-man, but not an idiot by any means.
The man is one of the greatest idiots of this generation. There's just a bunch of really dumb impressionable people falling for his lies. Doesn't make him smart.
The man
iswas one of the greatest idiots of this generation.FTFY
Now he's just an idiot but not great?
I should be in the bed already, I misread that. I thought he wrote Musk is one of the greatest idols of this generation.
I think the implication is he was the greatest idiot until all the other Impressionable idiots outdid him.
Hard to tell when we're this many idiots deep.
He's a sociopath with absolutely no moral compass. This may have made him a great CEO, but it doesn't mean he's smart.
Different packages were struck down I think. The first he appealed and failed. So they approved another package this year and this is the result.
Imagine what $51 billion would do for the average Tesla employee if it were split up evenly amongst all employees. But yes, give this one guy more money than he can ever use in infinite lifetimes.
the 56b divvied up would be about 400k per employee (based on 2023 headcount from wiki). i think he's fired more than hired this year, so it'd be a bit more than that.
Life changing amounts of money. Instead he’s getting bragging rights to the 5 other people in the world like him.
127,000 USD.
Capitalism is a dream because you aren't the capitalist.
It's a dream because you have to be asleep to believe it.
I didn't think he'd mind the paraphrase. It's another idea Carlin talked about in his shows.
Unlike the politicians and fatcats so loudly celebrated when they lived and so mourned when they died, by the Media, George Carlin was one of the truly great people of the second half of the XX century.
We just need a general rule: no company may offer more in compensation to any person than one hundred times the value the company paid in compensation to its lowest paid worker.
Add in words and details to make sure there aren't any loopholes, of course, and the problem will be largely solved across the board.
I think even that would have issues. The fix is easy. Tax the holy fuck out of any earnings over $10 million. You can take that payment away from your company, but it will do very little to benefit you.