Tesla Shareholders Pitch $56 Billion Pay Package for Elon Musk | Vantage with Palki Sharma

Tesla Shareholders Pitch $56 Billion Pay Package for Elon Musk | Vantage with Palki Sharma

Tesla shareholders have proposed a vote to approve a massive $56 billion pay package for the company's CEO Elon Musk. Though Musk does not draw a salary for his work as CEO, he owns around 20% of the company. In 2018, shareholders had proposed a pay deal which would see Musk receive around 1% of Tesla shares every time he achieved a financial or operational target. The 2018 deal works out to around $56 billion over several years. A US court had blocked this deal after a few shareholders opposed the deal, but the proposal is now back on the table. Is Elon Musk worth $56 billion to Tesla? Why are CEOs paid so much amid recession fears and layoffs? Palki Sharma tells you.

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Elon Musk | Tesla | Shareholders | Pay Package | US | Firstpost | World News | Vantage | Palki Sharma

#elonmusk #tesla #shareholders #paypackage #us #firstpost #vantageonfirstpost #palkisharma #worldnews

Vantage is a ground-breaking news, opinions, and current affairs show from Firstpost. Catering to a global audience, Vantage covers the biggest news stories from a 360-degree perspective, giving viewers a chance to assess the impact of world events through a uniquely Indian lens.

The show is anchored by Palki Sharma, Managing Editor, Firstpost.

By breaking stereotypes, Vantage aims to challenge conventional wisdom and present an alternative view on global affairs, defying the norm and opening the door to new perspectives. The show goes beyond the headlines to uncover the hidden stories – making Vantage a destination for thought-provoking ideas.

Vantage airs Monday to Friday at 9 PM IST on Firstpost across all leading platforms.
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[Cookiman]

If he met the targets... he should be paid!!!!

[vbijala]

when the compensation package was announced in 2018 everyone said it was ridicules .... the targets can never be met!

[munagalavrr]

This is partial information. Only valid statement in the video, "would the company made what it made without musk". Rest of the information is all retrospective. When the pay package was announced, Tesla was valued (if I remember correctly) around 50 - 60 billions USD in 2018. Today's market cap is below his payout criteria. It can argued if the market jump was due to manipulation (jail him if proved guilty). Just because nobody else got this kind of payout structure, doesn't make it illegal. Most of the initial investors in TSLA are Tesla Car Owners(including me), they trusted his vision, sustainability and invested not because they were expecting huge returns. I gained from TSLA (currently I reduced my position to almost nothing). When I saw the pay package numbers in 2018, I thought it's ridiculous. Retrospectively I would have preferred better vesting criteria (may be 10 years) or some portion tied to his post-retirement value.

[krisige]

This goes to the core values of our society. A man who built a brand from scratch worked passionately for 10 years and now when it's time for him to receive his due these people have a problem with it. If this contract is breached then no contract is valid and what is the meaning of having contracts anyway. But as an Indian, I can relate to this. Here also we don't get paid based on our performance. Whenever we exceed expectations, the bosses somehow find a way to pay less. Perhaps this sentiment is driving these people.

[bonggesasangsangma]

Make Palki CEO of First Post qnd see her complain about salary

[blackups__]

If Elon Musk met his target, then he should get paid.

The agreement says he gets paid based on the performance of the company, so the current performance makes him eligible for $56 billion, then they should pay him his worth.

[greyfox]

A deal is a deal, he should be paid, period.

[adityabaheti]

I'm a little surprised by the opinion shared by Palki in this segment.
Elon is the co-founder of the company and took over as Ceo in 2007 (if I remember correctly) when the company was worth next to nothing. He took the company to a market cap of ~60 billion dollars in 2018 when this pay package was announced. Shareholders overwhelmingly voted for this pay package at a time when the entire world was laughing at the targets set for the payout (you are free to look up the articles and media coverage at the time).
Now, the company is worth 500 billion and all targets were hit and suddenly it's unfair.
Its also disingenuous to report how the stock has done over the past year and not mention how it did since the announcement of the pay package in 2018.
Its also important to remember that shareholders are the owners of the company and they have every right to decide how the CEO is compensated. The soliloquy on Ceo pay was nice but unnecessary. At the end of the day it's demand and supply. You want the best person running your company then you have to be willing to pay accordingly.

When companies are worth hundreds of billions or even trillions, then leadership is extremely valuable. Every decision is worth hundreds of millions or billions in revenue/profit etc.
As a shareholder, ill be voting in favour of Elon's pay package. The man has revolutionized the automobile and space launch industry, even when the rest of the industry "experts" and the wider world was laughing at him.

[kellymoses]

Tesla 2018 - 2022 (timespan of the comp plan):

Revenues: $191.4 Billion
Gross profit: $45.2 Billion
Net income: $17.9 Billion

[vp]

And you did not mention the initial stage of tesla where it was almost went for bankruptcy this guy single handedly save that company and caz of that many workers became millionaire plus he live in a tent like a house !! is it like garnishing bad name to enter to indian market Firstpost has disappoint me first time

[stark]

It is his idea and he initially created TESLA with his own money and he is the first successful EV maker in the world. He is capable inject many ideas to the companies which you can fix the price! He created many millionaire owing his stocks - he is deserve to have any amount of incentives and salary.

[asitdebnath]

There is no definite formula for how much one should be paid. I think if someone has created new wealth (without destroying another kind of wealth), then that person can be paid any amount.

[cwhtvck]

Elon is Tesla! The value he brought to the investors alone makes the pay package worth it. Remember when Tesla was worth $14 and now it’s at ~$150!

[faheemkj]

Talking about whats in U.S. but someone say about Adani Ambani then its become an India insult... Why not consider that as a business

[faheemkj]

Talking about U.S and business is okk but when someone say about Adani Ambani then it became India insult... Why not consider thise as well as business point....

[GK-lfll]

Unjust, an agreement should be agreement. Here onwards the share holders should be careful instead

[mandlas.]

He created and founded his American dream company. Why shouldn’t he be compensated the way he likes if the majority of shareholders agree? We’re about democracy after all. If anyone doesn’t like that, they should create their own company and call the shots, the way they like

[masterweaver]

1) He did meet the target where nobody believe is possible
2) He is a man of vision (history has shown us that this type of people are usually being targeted as people don't want them to succeed but they will leave behind a history to be remember by our future generation)

so he should be paid and encourage to break the limit of mankind

It's clear that his news channel is always bias in a lot of times.

[naidol]

What's with this lady's beef with Elon. She's not AOC 😂

[SSD]

He delivered more than he promised. He must be paid.