10 ms·

Tesla's all-time net income is still below Elon Musk's $55B compensation package

36 points by zfg 2y ago

calrain 2y ago
For the wealthiest, there's no such thing as 'enough.' The game isn't about money anymore - it's about keeping score. When a company's lifetime profits still don't match a single executive's payout, it's clear the system has no upper bound.
- m463 2y ago
  I thought everything was about funding mars.
roshin 2y ago
I probably would have voted against such a compensation package if I was a board member. But the board thought differently and voted for it. Why shouldn't we let the board do what they wanted to?
- brookst 2y ago
  We should, of course. But we should also recognize that it’s not an independent board, it’s his cronies who also see personal profit from not exercising fiduciary duty to shareholders. But I think that’s ok, everyone knows the governance shortcomings.
  - TheAlchemist 2y ago
    Exactly. And the big issue with that, is that Tesla is part of S&P and other indexes - ie, we all are indirect investors, sponsoring Elon, weather we like it or not.
- Fade_Dance 2y ago
  This is a bit of a tired subject, but I suggest you read the ruling. The reasons that it was struck down were director conflict of interests, lack of process, lack of reasonableness, and inaccurate disclosure. Each of which have extensive legal arguments that went into the conclusion. I think that it's certainly arguable that shareholders did not have proper representation and their representatives were not looking to get shareholders the best value in the deal. That's the argument that speaks the most to me, although obviously the compromised board of Musk cronies is the big obvious one.
deleted 2y ago
[deleted]
s1artibartfast 2y ago
Hard to take the article seriously without any recalculation of the compensation package value. What is it worth today? More? Less? How many options and what was the strike price?
aurareturn 2y ago
TSLA has a 136.58 (and increasing) P/E ratio because of Elon. It's a meme stock because of Elon. Some investors buy into Elon's promises. TSLA will drop like a fly if Elon leaves.
- lawn 2y ago
  The drop is inevitable either way.
  - Zigurd 2y ago
    It is, but only a fool would take the job before the drop.

36 points by zfg 2y ago

For the wealthiest, there's no such thing as 'enough.' The game isn't about money anymore - it's about keeping score. When a company's lifetime profits still don't match a single executive's payout, it's clear the system has no upper bound.

m463 2y ago
I thought everything was about funding mars.

roshin 2y ago

I probably would have voted against such a compensation package if I was a board member. But the board thought differently and voted for it. Why shouldn't we let the board do what they wanted to?

brookst 2y ago
We should, of course. But we should also recognize that it’s not an independent board, it’s his cronies who also see personal profit from not exercising fiduciary duty to shareholders. But I think that’s ok, everyone knows the governance shortcomings.
- TheAlchemist 2y ago
  Exactly. And the big issue with that, is that Tesla is part of S&P and other indexes - ie, we all are indirect investors, sponsoring Elon, weather we like it or not.
Fade_Dance 2y ago
This is a bit of a tired subject, but I suggest you read the ruling. The reasons that it was struck down were director conflict of interests, lack of process, lack of reasonableness, and inaccurate disclosure. Each of which have extensive legal arguments that went into the conclusion. I think that it's certainly arguable that shareholders did not have proper representation and their representatives were not looking to get shareholders the best value in the deal. That's the argument that speaks the most to me, although obviously the compromised board of Musk cronies is the big obvious one.

deleted 2y ago

[deleted]

s1artibartfast 2y ago

Hard to take the article seriously without any recalculation of the compensation package value. What is it worth today? More? Less? How many options and what was the strike price?

aurareturn 2y ago

TSLA has a 136.58 (and increasing) P/E ratio because of Elon. It's a meme stock because of Elon. Some investors buy into Elon's promises. TSLA will drop like a fly if Elon leaves.

lawn 2y ago
The drop is inevitable either way.
- Zigurd 2y ago
  It is, but only a fool would take the job before the drop.