Tesla CEO Elon Musk loses bid to get $56B pay package reinstated

https://www.cnbc.com/2024/12/02/tesla-ceo-elon-musk-loses-bid-to-get-56-billion-pay-package-reinstated.html

by PLenz • 2 years ago

22 4 2 years ago

This was expected actually.

Everybody knows Tesla's board is absolutely not independent, and Tesla literally buying ads trying to convince shareholders to vote yes, should have erase any remaining doubts about it.

I think it also highlight quite well the issue with public companies and passive funds. If Tesla was a private company, or a small public company, then I would very much like them to do whatever they want.

But it's not that - it's a big public company, turned meme stock and 100% treated as a private company by Musk. It's sufficiently big though that was included into several indexes, and thus tens of billions of $ of passive investment flows poured into it. That's why we have rather strict rules about what can and cannot be done as a public company, and especially one being part of major indexes. Of course Musk don't think the rules apply to him.

dzhiurgis• 2 years ago

The most entertaining outcome is the most likely.

nojvek• 2 years ago

He’ll get his way once Trump is in power.

xvector• 2 years ago

Good. This ruling is absolutely absurd. The judge should be removed from office. What an incredibly biased ruling after shareholders voted for what they wanted.

Tesla CEO Elon Musk loses bid to get $56B pay package reinstated

Related Stories