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Hey, he's in competition with his old mate Elon. Clearly this is what he's referencing. Tesla has made about 34bn in income over the last 3 years, with stormy
by slimebot80 2y ago
Hey, he's in competition with his old mate Elon. Clearly this is what he's referencing.
Tesla has made about 34bn in income over the last 3 years, with stormy waters ahead, yet Elon pocketed himself 56bn under the guise of saving humanity, which is a "vibe" OpenAI also needlessly projects.
- nightski 2y agoThat doesn't seem right to me, I am seeing $15B net income in 2023 alone. What am I missing.
- Ygg2 2y agoValuation isn't income.
- ivewonyoung 2y agoValuation is about $800B, not $15B.
- blackeyeblitzar 2y agoYou aren’t missing anything. The comment you’re responding to is wrong and understating net income for some reason. It was indeed $15B last year. Plus the targets set for Elon’s package was based on a number of metrics there were already met, so I don’t know why net income matters.
- slimebot80 2y agoHey you're right I updated the figure. It's better, but still ridiculous IMO. But people will justify it how they want.
- blackeyeblitzar 2y agoPocketed? No he took a zero salary comp package with equity for hitting absurd targets no one thought he could hit. A strong majority of shareholders approved the package then and reapproved it now. He hit the targets so it’s accurate to say he earned it.
- tock 2y agoWasn't the argument that a lot of internal folks didn't think the targets were absurd? That's what I read in the court document.
- blackeyeblitzar 2y agoThat’s the claim, but the court document’s tone and language shows this was an ideological decision for the judge rather than a factual determination. Regardless, shareholders just voted again on that same exact package retroactively and re approved it. This was a clear indication that the market still feels, even in hindsight, that the past targets were deserving of the equity granted. What internal folks thought or the judge’s guess about shareholders being “tricked” doesn’t matter since it is something shareholders (owners of the company) have judged on their own with all the information they have now about past performance. Also, neither Elon nor his brother voted on the measure. So to me all this serves as evidence that enough people think the targets were absurd enough to at least justify the equity.
- tock 2y agoThe cult of Elon is a large reason for Tesla's ridiculous valuation so it makes sense to give him credit. I just find it hilarious that Tesla's total profit over all these years is still lower than this pay package.
- slimebot80 2y agoExactly, and now the shine is gone, along with a timely 56 billion.
- ivewonyoung 2y agoIf internal folks really thought the share price would increase by 983%(the pay package target), they would have bought shares with all the money they have, plus sell/pawn everything they have and borrow as much as they could. That didn't happen.
- dangitman 2y ago[dead]