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Elon's pay package was very unusual. He would be paid a salary of zero. He would only receive compensation if he drove his company to ridiculously high growth,
by cbeach 1y ago
Elon's pay package was very unusual. He would be paid a salary of zero. He would only receive compensation if he drove his company to ridiculously high growth, and only if he sustained that over a number of years. This package was agreed by shareholders (all of which have been massively enriched by Tesla). Few believed Elon could hit these targets.
Elon surprised everyone when he achieved ALL the ridiculously high targets.
Even more surprisingly, and somewhat disturbingly, a judge then decided to nullify his shareholder-agreed package, such that he would receive ZERO compensation for growing a penny stock startup into the world's most valuable automaker.
Obviously, Tesla disputed this ruling, and held another shareholder vote on Elon's original package. The shareholders once again voted for Elon to be given what he was promised by the company.
The judge again disregarded the opinions of the shareholders.
This happened in Biden's home state.
It's no wonder that Tesla reincorporated elsewhere, is it?
- Spooky23 1y agoCourts interpret the law, they don’t provide affirmation for decisions. The company reincorporated to a state whose laws with respect to corporate governance are engineered to meet the needs of resource extraction industries which have long dominated it. The former president has no bearing whatsoever.
- justinrubek 1y agoYou're still spouting the same talking points used when this was more fresh. They didn't hold up then and they don't hold up now. You can try to drag Biden into this I guess but it doesn't help your point.
- cbeach 1y agoCould you help me out by explaining which of my points are factually incorrect?