Tesla shareholders restore CEO Elon Musk's pay: More legal battles to come?
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- čas přidán 13. 06. 2024
- Former SEC Chairman Jay Clayton joins 'Squawk Box' to discuss the fallout from Tesla's shareholder vote to restore CEO Elon Musk's pay package, how the result could impact the judge's ruling in Delaware, what's next for Tesla, and more.
All these lawyers are delusional and should get sued
The shareholders who voted yes are delusional
Delaware judge are communist leftist appointed and have no trust thats why Musk move tesla tò Texas
The lawyer should get nothing and pay a penalty for damage to Tesla.
Yeah it's one of those cases where this case did more damage then realistically it should have
Yes they should be punished of causing the works recreating a wheel. Damaged stock pices guilty by SEC.
@@victoriaphan6633lol
That's not how this works, also TSLA's little vote still didn't overrule Delaware's court ruling. Thus more legal battles to come.
Not only should the lawyer not get paid but he should be reprimanded for throwing a smokescreen and circus foray into the fold that accomplished nothing and caused damage to the company.
This messy is 100% on the judge. The case shouod have been thrown out since day one. From the wording of her judgment shes an activist , not an objective Judge .
Do you even own any TSLA shares? If so are you bagholding?
@@nikushim6665 own stocks since 2012. Cashed out 70% of my shares 2022. I still hold a decent bag
@@nikushim6665you’re not contributing anything, so do us all a favor and stfu. Are you bagholding for the ambulance chasers???
The judge is democratic communist appointed thats why
Lawyer argues pay package is ridiculous…. My fee is $5 billion 😂… what a waste for shareholders
5 billion is less than 56 billion. For being a loud mouth doesn't guarantee someone to get billions
@@mysticwatersooHe was entitled to that because he made Tesla’s value increase by 100s of billions. His package is all Tesla stock so it’s not like he is getting $50b dropped in his pocket anyway.
@@mysticwatersoo But in Elon's case, his $56B was a FRACTION of the value created for the entire shareholder base, many hundreds of billions of dollars. The lawyer is demanding 10% of what Elon got for creating hundreds of billions in shareholder value, while the lawyer DESTROYED shareholder value. It's like Mom and Dad bringing home $150k/yr to the household for going to work all year and providing for the family, and the kid demanding a $15k/yr allowance for breaking the windows and catching the living room on fire. It's absurd and the judge is a fool if she allows the attorney anything more than a million dollars.
By that logic Tim Cook of Apple should get 100 billion dollars for creating such market cap of his company. All tech executives should be paid in hundres of billion of dollars. The lawyers have helped use the funds for more productive uses than pay up someone who does nothing except for trolling on X all day long.
@@mysticwatersoo No, because that is not something AAPL shareholders have voted for. The fact Tim Cook's compensation is nowhere near that ratio suggests his board and shareholders do not find him valuable to that degree. The proof is in the pudding. Elon Musk, however, has now been awarded this compensation package twice by his shareholders. They clearly, overwhelmingly, value his leadership of the company. Again, the proof is in the pudding. Those who disagree with the compensation package can simply sell their shares. It's an extremely liquid market for TSLA shares. Sell them and move on. Or better yet, short the stock and make profits from the "unproductive use of funds" by Tesla. The attorneys can get their $1M and move on.
Attorney who brought lawsuit should OWE Tesla the company and Elon Musk $5B!!!
D-Riding wont magically stop you from bagholding TSLA shares :P.
Exactly!
@@nikushim6665 you have got to be the dumbest person ever. Tesla is a buy and hold. It will be worth over $5 TRILLION in the next 5 years. Keep short selling and give me all your money!
He made the sales as previously agreed upon, he gets the cut
The plaintiff in this case was a Tesla Short Seller who held 9 shares in 2018. The Chancery Court had a reputation for not allowing these predatory litigators from profiting through the court. Corporate executives need to take notice of the risk of being incorporated in Delaware. If this plaintiff "wins the lotto" via the Chancery Court, more and more similar suits will be brought against other Fortune 100 companies.
This is bad precedent that exposes all businesses incorporated in this jurisdiction.
And apparently he's a drummer. Like me.
Exactly
Delaware can send itself to hell for all I care. Unfortunately this does terrific damage to *America brand* too. Why incorporate here when predictable adherence to proper principles is no longer assured?
These people act as if this was a fair a legal process. The Judge and the layer should both be disbarred for the damage that they did to the company!
$5M to this sleazy attorney is ridiculous. He should owe money… all attorneys who bring frivolous lawsuits should 100% pay damages and have huge monetary consequences. This would really make every attorney in the world think 2-3x before bringing a lawsuit!!
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That does make a lot of sense, unlike us, you seem to have the Market figured out. Who is this coach?
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As shareholder of Tesla, I don’t agree the lawyer should get paid at all. The lawyer and Delaware judge make Tesla shareholder life a hell for the past months, it’s ridiculous and unnecessary and NOT HELPFUL AT ALL. To pay the lawyer is DAYLIGHT ROBBERY!
Tesla stock swings too much to calmly accumulate and hold, After buying TSLA shares for just over 10 years, i'm struggling to make gains presently. How do i adjust or revamp my $2M portfolio? or should i consider some defensive investments?
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Trash activist judge should be disbarred and immediately investigated.
Our judicial system is broken.
Its civil and why are you rooting for ketamine fueled pump and dump artist that does nothing but post tweets all day?
What do you mean by "system"? Please be precise.
Which bit don't you understand. The judicial system is a complex system of people, processes, precedents codified textually. I don't think anyone thinks it's not system.... Except perhaps you??
Will this have an effect on Tesla stock? I was hoping to buy some and would probably want to know if I should wait till this is all over or strike while the iron is hot.
probably not. Tesla will always be a good buy
I'd recommend you get yourself an F.A if you really want to get in instead of starting with guesses. They're not half as expensive as you think and know the market better. Experimenting with CZcams-based suggestions may not be the best for you. I know this from experience and as somebody who has made real money off coins. Goodluck.
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Dont buy tesla now or ever
If this activist judge still confirms her judgement, it shows her bias towards tesla/shareholders and corporate America as a whole
Shareholders need to class action a lawsuit against the corruption in this case.
Give Elon Musk his money!!!
He is a con
@@PerfectoKissfrom the going nearly bankrupt to current Tesla net worth... Yeah it's Musk go and apply burnol
@@PerfectoKissu are a failure
What I don't understand is Tesla's total net profits, since ever, is only around $30b. How did Elon wrangle a deal where he gets $56b?
@@danielch6662 In 2018 the board proposed a compensation package which allowed him to purchase 20,264,042 TSLA shares at the 2018 price ($70per). The compensation package was 100% performance based, which means in order to buy these shares, he had to hit certain performance tranches which were related to generating value for shareholders. In this case, the main one was a 1000% increase TSLA value between 2018-2023 (5 years), so growing teslas market cap by 10x, increasing the value of shareholder stock by 1000% over those 5 years. The board put this compensation package to a shareholder vote, which was overwhelmingly approved - as growing the company by that much seriously benefits the shareholders.
So Musk is not receiving $56bn, he is allowed to buy 20.2 million shares at the 2018 valuation, which currently is worth around $48bn. He will also have to pay the largest tax bill in history to exercise those stock options.
circus indeed....delaware legal
You mean Delaware illegal. 😂
The remedy is to pay the man his salary.
The short seller can pay his lawyer.
Very disappointing that CNBC did NOT do enough research to tell the truth; it was a
It's like 2033 isn't it?
Because that would require the viewer to hold more than one thought in her mind at once.
They dont want to tell that Delaware judge is a leftist appointed democratic hater against Musk
The most important aspect of the voting was demonstrating to Elon that he has full support of the majority of shareholders. That’s the key outcome here. Well done to all who believe in him. 👏👍😁
Lawyer deserves $0
Respect democracy and respect the shareholders will!
Delaware becoming a disgrace
It was established for all to see that there never was a case to bring to court. The activist clown in a judge costume was never right.
Would the lawyer still be paid if the ruling is overturned? The ruling in itself has now created a legal dilemma
Good question . Wondering this myself .
No, the lawyers will not be paid if the ruling is overturned. That's how it works, if you lose the lawsuit, you don't have any right, and the lawsuit is not over until all the appeals are done or the deadlines are passed
He hit all of the pay targets.
And that was why this whole case this have been thrown out in the first place. The targets he hit were not easy
He hit the targets, it's the compensation and how it was agreed that was suspect. Your brother agrees it? No conflict of interest there?
@@GK-qc5ryhis brother did not vote obviously
Lawyer didn't do anything but cause chaos and disruption. Get paid at your standard hourly rate if at all.
The whole lawsuit was ridiculous. The shareholders stood firm and proved the pay package was legit. The lawyers deserve nothing.
Andrew is such a clown..
Literally listen to what you’re saying, dude, Elon Musk brings tremendous value to every single organization that he’s a part of.
What are you talking about? He’s talking about the lawyer who is supposed to represent “shareholders’ interest”
Andrew has been perhaps the only MNM dude asking the right questions for months on this issue and he's doing OK here too.
Pay the man and stop the lawyer fees
The real question is how much of a kick back from the lawyers the judge gets. Any integrity Delaware had with business just got flushed. I have no reason to trust them after this stunt.
Lawyer requests an unprecedented high payment in a suit about too much pay.
Fate loves Irony.
What you call influence over the shareholders we would call a mutual understanding of how to achieve excellence through good choices and sticking to a meaningful business plan. Maybe we’re not a stupid as you think we are.
I thought a court rules this payout illegal? “Unfathomable” and “neglecting his financial duties to his staff”!
Countersuit against lawyer for costing Tesla money.
What's excessive is how much the lawyers are asking to be paid for "winning" the case.
If an arrangement was established in advance and he fulfilled his obligations, the remuneration is indisputably his. The enormity of the sum should not serve as grounds for repudiation. It is quite disingenuous to set out such audacious targets if there was never any genuine intent to honor the consequent substantial payout. If they considered the targets preposterous and beyond reach, then such targets should not have been proposed to begin with. Reneging on the agreement after the conditions have been met, merely because the reward now seems excessive, is both duplicitous and unscrupulous.
100%!
In my opinion that lawyer who won the case caused Tesla shareholders money & time for a guy who only invested 9 shares in Tesla? 😮
Good he deserves it ! Hard work !
Can Mr Clayton point to the law where it describes what a Super CEO is and what their exceptional responsibilities are? We are in crazy world where literally planes fall from the sky.
Like Adam Neumann. Or Trevor Milton.
Funny. Everyone thought Elon was crazy in 2018 for taking this deal. But now they want to renege because he won.
If you are earning $30,000 per annum, it would take you 1.86 MILLION years to earn $56 Billion.
Jeez Broken system
He asked for commission only pay which he doesn't get for five years. He has the most altruistic vision of any company. I guess the SEC will have to up their standard.
Musk needs 50+ billions to be motivated. How much will it take for him to be motivated, again, couple of years later?
Why would any future court case be held in Delaware? Tesla just reincorporated in Texas. Any future cases should therefore be held in Texas.
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I think unfortunately, this is just the start of more legal wrangling.
I feel Musk should get agreed upon $.
The correct "payment" for that lawyer is:
1) he gets absolutely nothing and
2) he has to pay for all of Tesla's legal fees.
Andrew is absolutely right. That ambulance-chasing grifter lawyer created NEGATIVE value for Tesla shareholders.
Lawyers and judges always want a share, either economical or political.
Make the fraud lawyers pay five billion to shareholders. Sue them and the judge for tortious interference.
Elon Musk 🗣️🌐🙏
They lost 😪bye bye money grabbers
Super helpful!
They hire someone else to do the sketchy activities I’m trying to accuse him of, elitism at it’s finest
How can a judge determine what was excessive in a capitalistic society! Agreed - lawyer delivered negative value! Without Elon Tesla would not have survived. Not a sycophant. It’s just true. Shareholders know this.
Thats right !
Perspective: $50B is $1,000,000 per HOUR for 25-years. Nice.
This guy Andrew acts too smart!!!
What's with all these bot comments
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can you guys tell him to talk at all?
Go Elon! 🥰
Sad
10 %
He earned it and 8f was cash which it isn't he would spend it doing sensible things in the name of progressing humanity! See anyone else like that with that sort of leverage/ money?
Es gigante e realmente faz a diferença nesse mundo amo e aprecio tudo que faz em prol da humanidade Deus o proteja sempre
Let the guy talk
Screw Delaware
Doubt he’s spending most of this luxuriously
Not trying to sound like a Tesla bull but they just get more views or trp doing all this talk, very idiotic. The guy spent lot of hours working hard are they even qualified to speculate like this??? Goodness gracious!!!
yeah musk win 😊😊
Musk, wins. Who else wins ??
His obsequious, compliant Cult followers Stockholders ???
If his obsequious, compliant Cult followers Stockholders win. O.K. , now who else wins ?? Nobody else, that is it. So , very, very few people celebrating ?? O.K. Now what ? Nothing. That's it. O.K.
Go Elon!
Don’t worry Elonstans. I heard FSD is coming next year! lol.
Elons the literal living embodiment of the free beer tomorrow signs at bars.
What stick is Bidenomics going to stick in the way of progress.
Why is she always speaking over him lol?
Two main issues. One, this pay package can also be struck down. Two, Elon is very likely leaving Tesla either way.
Shut up Andrew!
So many Chinese Musk bots here
Go elon
Wahhhhhhhhh gives a crap of stupid shareholders.
The fact that everybody seems to think that a CEO taking 50 billion off his company no matter what the argument is shows crazy greedy America has become.
So the courts should confiscate ALL our shares, everyone of us shareholders? We were *ALL IN ON IT* and got insane 10X gains, by your and this court's Neo-Marxists "principles" it's universal poverty for all.
Scank
Never seen people so happy to have their shares diluted lol
Shares have already been diluted for some time now. They didn't wait til today. Either get educated or stop blurting nonsense.
@@brakmaster spoken like a true Tesla investor lol
@@TheLocknload1no one is diluted because it's an opinion pool
Man yoy sound stupid clesrly you dont even know whatd going on
⁉️⁉️⁉️What is the deference between Elon’s dancing & Elaine's dancing⁉️🤔
These hosts should let the guest speak. Muck is such a con.
The Musk clown show continues . Where's the mass profits from anything except vehicles . Tesla a car company .
Communist Biden Said no!
Andrews hate for Elon is really disturbing.
Cultists literally cheering for a billionaire to get 56 billion dollars…lol.
The court wanted to pay the lawyers $5 billion for this case btw.
@@TopShot501st $56 billion dollars is more than Tesla has made as a company in their entire existence.Why do you think Elon should be compensated for lying and missing deadlines?
Btw I heard FSD is coming next year lol. And then next year guess when it’s coming? That’s right next year lol.
@@one1blue Tesla made $21 Billion in Q1 alone this year. This is for pay going back 6+ years at this point.
@@TopShot501st yeah I’m talking profit genius. Not sales. Maybe you don’t know the difference.
@@one1blue WE believe. Even if he takes the money out of tesla, he puts it into mar colonies or protecting free speech. Not a yacht like most billionaires. I like that. And he's late but he has never not delivered, which is expected when you think about his goals. Please be a bit more optimistic about the world. You sound so sad.
Make dozens of broken promises, build a cult, and request 56B.
I can see the elmo cult is strong with this comment section.