This is moot. Musk has never met a milestone once, and if he doesn’t meet milestones, he gets jack shit.
Musk has never met a milestone once
Apart from all the ones that he has, like his last mega paypacket at tesla, you mean?
The reason his last pay package of 50 billion was awarded to him is because he met the milestones for that. It was a similar deal to this one where they set top end milestones that everyone felt were ridiculous and they’d never hit them. Mostly stock targets IIRC.
Those were lowball milestones. He actually has to generate real money this time.
They were absurd milestones at the time, which nobody thought he could hit in his wildest dreams.
Quit rewriting history, those were absolutely not lowball milestones.
If Mr. Musk were somehow to increase the value of Tesla to $650 billion — a figure many experts would contend is laughably impossible and would make Tesla one of the five largest companies in the United States, based on current valuations — his stock award could be worth as much as $55 billion
That is a quote from this contemporary article: https://www.cnbc.com/2018/01/23/teslas-pay-deal-to-keep-elon-musk-all-or-nothing.html
Piss baby Musk should take his final breath under a bridge with nothing to his name. That would be fair.
And then the bridge should fall on him.
I’d like to see his EGO want to be the first man to set foot on Mars.
I wouldn’t be upset if something went catastrophically wrong.
What would be fair would be if he as he is sitting on the ground a Cybertruck in summon mode careened off the road pinning him against the building not killing him instantly but slowly while the radio in the car is playing a comedy show where he and his companies are the punchlines. The last thing he hears is his legacy being laughed at as a joke
It sounds like you’ve put some þought into it.
Tesla has sold 7 million and something cars in total according to google. If each of those was 100k, that would still be less than a trillion in total. How could one guy get paid more than the whole company ever made?
This is supposed to be paid out over time based on future performance milestones. Also based on projected increased value of shares as a result.
Still insanely, insanely high though.
Still insanely, insanely high though.
But undeniably worth it if you’re a tesla shareholder.
It’s like your financial adviser saying “I’ll make you a billionaire in 5 years, and if I do your bill will be $1mil. If I don’t, don’t pay me anything, and you’ve lost nothing” - why would anyone have an issue with that?
Because it’s an incentive to make money, not an incentive to be a good corporation making good products and services.
In the market these days, it’s not what you’re making now but the future potential of what you might make in the future. And Musk is an expert in dreaming big and make other people believe it.
Ya most of his shit is stupid though. The cyber truck, terra forming mars with nukes, the hyperlopp, etc. The Tesla dream was there before him. I just don’t get it…
Because it’s nonsense. We’re a decade past the promised rollout of full self driving, the hyperloop is a failure, the cybertruck is a flop, China makes EVs significantly better and cheaper than Tesla. The batteries they’re selling are looking more and more likely to get leapfrogged by solid state batteries too. Half the world refuses to touch anything his companies produce.
Tesla stock should be in the shitter, but results don’t matter anymore.
Hyperloop was Musk’s tactic to distract from and destroy sensible public transportation. Tesla didn’t work on it or plan for it.
Ya most of his shit is stupid though
It appears to me that your average human isn’t particularly smart so this hasn’t been to his detriment yet.
And Musk is an expert in dreaming big and make other people believe it.
And has a near flawless record in achieving those dreams, making the people who believed in it filthy rich.
This pay packet is, like his last one, a “bet big on me and I’ll make you all insanely rich, or I get nothing” bet. It makes no sense why anyone would say no to it.
How could one guy get paid more than the whole company ever made?
Because that $1trillion pay packet is contingent on the value of Tesla going to like $5tril, which would make it the biggest company in the history of the world. It would make every shareholder insanely rich.
Could the megawealth fund float me a couble billion dollars? Here are my qualifications and reasoning:
I’m not Elon Musk.
I’m cool with a few million. I’ll even give it back in 10 years or so.
Solid reasoning tbh
Strange, because in order for Musk to get any of that $1trillion pay package, the part of Norway’s mega wealth fund invested in Tesla would have turned into a mega mega, mega, unbelievably mega, wealth fund. Voting against their own interests sure is something.
But he needs 1 trillion dollars for his robot army so he can retain control of his robot army so nobody else can have control of his robot army so he alone can rule the entire world with his robot army.
Dude is a literal supervillain.
I’m just waiting for Musk to get his robots to learn how to feed off biomass and complete his transition to Ted Faro.
Reading this while waiting for HFW to load is an eerie coincidence. I very much would prefer to enjoy the post-apocalyptic world from behind the safety of the fourth wall.
He needs an excuse to rage quit.
From what I have read, he’s still likely to be able to line up enough votes to get his $1 trillion pay package (and the associated voting rights), despite a lot of major institutional investors being in opposition. But we’ll see when the vote goes though.
I think that Tesla can probably get a more-effective CEO for less money, personally. Even if he leaves as CEO, he still owns 15% of Tesla and is fabulously wealthy as a result. I don’t feel like he’s getting a bad deal.
I do think that there are some arguments that the SEC should pass some regulation to help ensure board-CEO independence; part of the issue is that the board, which is supposed to oversee Musk, has been considered to be acting on his behalf by quite a few people. I don’t think that it will happen under the present administration, though.
Slime mould would be a better CEO.
I think that Tesla can probably get a more-effective CEO for less money, personally.
Musk takes $0 pay as CEO other than these post-performance-goal-hit pay packets though. Good luck finding another CEO who will work for free for 5+ years.
He wants the bragging rights. It’s just a game at these numbers
1 Trillion % this.
Effective yes, but uh what’s the wording image-that-props-up-crazy-valuation no.
