Tesla’s biggest retail shareholder votes against Elon Musk’s $55 billion

Tesla’s biggest retail shareholder votes against Elon Musk’s $55 billion

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[chrisdanielson]

What good is a deal if you can choose not to honor it later.
No redo's in the real world kids.

[benmlee]

Expo facto ruling.
You waited until after the targets were already met and Tesla already benefited to reverse the promise.

[menotyou]

He says he is against family members having board seats, but he co-owns his company with his ex-wife...???

[markocean]

If i worked at a company where they said if I hit milestones i would get paid X, and i hit those milestones. Pay me X. Its that simple.

[MarksElectricLife]

If he bought into Tesla in 2022 that was well after the original compensation deal was done and the targets were met. Too easy for him to say Musk doesn’t deserve to be paid now his shares are worth so much. Reminds me of a small town that didn’t want to pay a piper after he solved their rat problem. 🐀 🐀 🐀

[Ronnieleec]

he is pretty much right. just as he has done, i continue to invest in Tesla. i do support Elon’s pay and Kimbal on the board.

[justice]

Koguan seems like he inherited his fortune, what a stupid move as he is actually gifting corrupt lawyers >$6Bn in the process and is probably too dumb to understand that.

[rhino]

I think Tesla should honor the original agreement otherwise it will de-motivate Musk.

[LittleWM-xf]

Teslees, do remember to vote for the pay package and do press confirm and do submit before June 12th 2024 11:59 PM Eastern Time.
I went back to the voting page and found that I didn't confirm and submit which could originally resulted in my shares vote invalid !

[Billi]

How much was the stock worth when the deal was made? Evaluating what he was paid should be based on that since the increase in stock price was in a large part a result of Elon's leadership so he should not be penalized by his success.

[carsareaddictive]

The vote is June 13th & I am a long time shareholder that will voting yes to Elons pay package, just like i voted yes last time. "F" that Delaware judge. Nobody should work for free, but that's what the Delaware judge is saying he should do.

[richb]

He obviously wants Elon to have less influence over the direction the company is going and he wants more personal control over Tesla’s direction. Tesla is going to be a enormous company and even a little piece will mean tremendous power.

[MatthewBui-fy]

As an investor, I would vote no. The amount paid should be calculated based on a flat amount plus a small % of % gain in stock valuation at the end of each year. If the stock performance is negative, the amount paid is a flat amount only.

[nerdbikes]

Shareholders are the boss. If I were a shareholder, I would demand 100% attention from Elon and drop all other jobs if he wants this kind of money. 100%. Or I’ll find someone else who will give 100% time and effort.

[joeforte]

it was agreed; pay him according to original shareholder agreement

[ffyy]

Biggest shareholders voting against the package will also be the biggest losers I. The end then

[tgdomnemo]

let's wait till all voted are cast ?
🖖🏼

[peterviceroy]

The original agreement must be honored. Shareholders risk the loss of a performing goal oriented leader that met all performance goals. Elon Musk is Tesla. Elon brought the company to where it is today. Pay him what you agreed to.

[georgedurrant]

It's not just the judge's ruling on the past pay package - even if shareholders vote for it, there may be more legal challenges - but the next pay package he wants under threat of taking AI away from Tesla, which would further destroy the savings of shareholders. His justification for it is that he wants to have enough shares that he cannot be easily voted out. He had that, and chose to sell. It was his choice, and shareholders should not have to pay for it. Time to act like an adult and take responsibility. Before asking the shareholders to do something for him, maybe he should get the ship moving in the right direction.

[ge_song]

The man sounds like a reasonable man. People should give him the airtime to explain himself.