Musk’s $70 billion pay package approved by Tesla shareholders
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- čas přidán 5. 09. 2024
- Shareholders of Tesla have just voted in favour of Elon Musk's astonishing $70 billion pay-deal.
The $46 billion US deal gives Musk more power in an appeal against a Court decision that reversed it initially.
A gleeful Musk celebrated the result in Delaware, hopping on stage and saying, ‘hot damn, I love you guys!’
Elon does it again, just can’t stop winning
He hasn't won yet. The new shareholder vote does not overcome the court's stop on it.
Yeh, he can't stop screwing people over, which is how he's made his wealth.
I suppose you could call that winning.
@@gibbonsdp I smell a snowflake that hates massive snowflake melting, self-landing rockets
He can't stop ripping off the shareholders.
But what will happen to his eternity? Naked we come into this world and naked we go out, not bringing anything with us..
Tesla will move their corporate offices in Texas. Bye Bye Delaware.
Texas land of the free. Except for the socialist capital in Austin where defund police happened.
Very dangerous precedent when you can make a deal, trading your services or goods with somebody else and the court can over rule the deal that both parties agree to.
It's a very dangerous precedent when a supine board allows a CEO to do as he likes in flagrant breach of listed company norms.
What right does a governmental body have to intrude into business decisions?
Thats what makes them "the government" duh..
if you have gotten ripped off by a crooked builder who misbuilt your new highrise unit, and it leaked and was crooked, you would go to...YES THATS RIGHT!! THE GOVERNMENT...
Very well said, sir.
@@colossuemadam Except thats its factually inaccurate
Ironically it's the way Tesla structured the company that opened them up to this
So funny. Every news article is like ‘Elon wins 46 Billion’ ‘Elon gets his 56 Billion’ ‘Musk finally gets his 70Billion’ ‘Tesla CEO gets his 48 Billion’
People just don’t get it. It was 2.3 billion before his unpaid hard work increased the share value.
He wasn't working for "free". You don't think $56 billion is going to dilute the existing shares? It comes out of the shareholders' pockets.
@@user-ll9qk2el4d You're wrong. It was expensed as each milestone was reached. There is no dilution and no payout.
Lol why you you think it got reversed in the first place? A wet towel would have passed those milestones.
All he had to do was tell a million lies for delusional fanboys to pump the stock.
@@user-ll9qk2el4dit was already set aside sense 2018, it will not dilute
He earned it! Many people could learn from him.😮😊
By sitting on the sh1tter and tweeting 80 times a day?
In the future he will be remembered as the ultimate charlatan.😂
@@kallekas8551
The proof is in his accomplishments thus far which are numerous and in plain sight.
Smart move... moving to Texas
Except for the closer proximity to the crazies all roaming around from south america..we are just one heartbeat away from eternity.
@@user-co2li1vd5d as "crazies" I assume you are referring to the tens of thousands of illegals. In that case, I would agree.
@@Metal-Detecting-NC Yep..we have heard about only some of the crime they are perpetrating..Il be willing to bet there are alot of crimes nobody is being told.
Wow. They were so fearful of Musk walking away from Tesla.
Or maybe they believe that a deal is a deal.
@@JanBruunAndersen Only morons would give $70 billion for a part-time CEO for a company that's only a little over $500 billion in market cap.
Musk has said so many times definitively that "he will make a self-driving car' it still hasnt happened.
That's almost twice as much as he paid to save TWITTER / X 😃😃
@@robot336 Its all crap, and all passing away. This world and all of its processes are passing away. Everything will change in ONE HOUR
Fuck yeah dump deleware
X cost him NOTHING 😂😂😂😂
He has so much money that anything he buys now doesn't cost him anything.
He got all the money from the government to start tesla, with grants
He should buy facebook next!
@@jeremygoodman9807 And close it down, its a cesspool
@shannoncook6208 you do understand the different between stock and actual cash yeah?
Elon is the man!
You mean the conman?
@@RogueElementMkIIhe made that company, he built it . He deserves the lion’s share
@@RogueElementMkII
The AUD $70 Bill payment was signed off and agreed to at the early stages of Tesla, (many, many years ago) Musk set some goals that looked unachievable at that time and the board agreed to that compensation agreement. The goals were so far fetched that no one but Musk thought they were achievable.
Anyone and everyone who has invested in Tesla has 10X to 500X++ their investment, ie the investors have made huge returns in Tesla.
A democrat appointed judge halted the agreement, this left leaning judge is in part funded by Soros. Because Musk is seen as a Trump ally the democrat appointed judge took action against Musk. Had Musk supported biden no action would have been taken against Musk. NOTE that the agreement was a legally binding agreement between Musk and the Board of Tesla, based on watersheds achieved. Those watersheds were not only achieved but exceeded. One has to ask why any judge would get involved in a legal agreement for the benefit of shareholders and owners???
Like all far thinking people, that has been proven over time - again and again, Musk makes claims that sometimes do not work out, it is called evolution. If Musk didnt literally reach for the stars E vehicles would still be in their infancy. If Musk didnt stretch his team, Tesla would be no where. Prime example is Henry Ford and the V8, his engineers told him it was not possible, his determination proved them wrong.
Then lets talk about SpaceX, Star Link etc - the guy literally develops life support systems for humans in outer space....
@@LeosarebetterAre you done?
@@RobertMoore-fd3guHe stole the company from its original founders.
It was not his company. Do you understand?
$46 BILLION in U.S. Dollars based on today's stock valuations
It should be 100 billion we love Elon Musk
...cult member thinks Musk is God. 🤣
Meanwhile he doesnt care about any of you.
It's his company, he is building it, he deserves it.
He bought it
@@bobhawke7373He didn't buy it, he bought shares, became a majority shareholder and board member.
Then essentially forced the original founders out of the company.
He stole it from them.
It's not his company. He owns only 13% of it.
@@gibbonsdp As this report said - he owns just over 20% of it
@@patrickkelly6691 He owns 13% now. He'll own about 23% if the bonus award goes through.
Well, they owed it to him, pure and simple.
Bring it to Texas!!
Musk‘s compensation is NOT a pay package by any means.
Good for musk ha😂
Elon 🇿🇦 from ur home town, ur a Genius ! Made back his money, he spent on twitter !
Honestly, Elon Musk should just buy Star Wars already!...
Trek
@@deletedcomment2478 Yes, he could buy that as well 👍...
At this point, there's no saving it.
@@ItsAllFake1 Never been worth saving bro 😂 jk
I think SW would be worth 4 million after all these flops... it's going to cost a lot of money to get the fans back especially after the latest disaster series...
So funny how people put elon down hahaha.. they all have tall poppy syndrome 😅
Musk musk musk Elon Elon Elon he deserves everything because he's the man
Yes, just a man. Money wont save anyone from hell
@@user-co2li1vd5d no but being a good human will Loving Jesus will and everybody needs to learn to fall for Jesus and loving with all their heart and follow his word he has just so much of a chance to go to heaven as anybody else, it's really sad that some people just give up on other people I see so many walking the street that need Jesus but I never give up on them or condemn them like you condemn him You need to pray
To the people against this, don't be jealous. If you had your own company, you would do exactly the same if you could. If you say otherwise, you are a liar!
Agreed. Honestly I've no doubt this was all political BS, he's not towing the line thus must be punished......yeah the commies are learning over and over again he wins just like Trump.
The only problem with that, is "Tosla" wasn't Musk's company mate.
He bought into the company as a majority shareholder, and fired the original founders.
@@RogueElementMkII Major sad point I very much agree. But right now I'll take that he's not walking the commie/woke line and actually being open vs not.......F I hate that he lit stole it for all intents and purposes.
@@atticusseverusHe's trying to win over the right, that's all. And seems to be doing a good job of it too.
He doesn't really need to appease the left, because they're the ones buying all of his cars, and batteries.
He seeks to be admired by everyone.
Im sorry for him, and all the rest who believe their money will save them in the end.
It ain’t cash. It’s share value. Let musk or anyone for that matter try cashing in . The only ones with real cash in the trillions are the Saudis. Y’all think musk is rich? Hahahah. The Saudis have trillions.
Hahahaha..and here we are,not wirth even a million dollars and talking shite about someone who does !! One of Biden voter's, are you?you sound like his supporters!!🤔 😜😂
Yes, theyre also the very ones paying for the acts of terrorism wreaked onto the western world...
@@user-kz1vg9ry2b yes, idolatry..for a man who will die and rot in the grave. he has no more power to save any1 from hell as do I
👏👏👏👏👏👏
Good for him. He's earned this. AND, he'll put every penny EVERY PENNY of that money to good. I promise that, money doesn't mean to Elon what it does to most of the rest of the world. He uses it for something completely different. He's different.
It was an easy vote.
Almost everything from the company was reasonable, while almost everything raised by shareholders was woke nonsense.
'Shareholders move to investigate ways to ethically source silver.'
'Shareholders move to organize an investigation into employee conduct.'
Piss off, Karens.
There is nothing astonishing about this. There was a formal contractual agreement where if he performed in accordance with the contract he would be rewarded. He did just that. Don’t sensationalize what was a normal contract…
He deserves it and more. ❤❤❤❤
Why is it astonishing? He's worth every penny.
You mean 56 billion,let's not b.s. more on this news.We voted for this and now we will move from the woke Delaware to Texas and try and stop us..Don't piss off the retail investors
😂thats going to piss off esafty karen
Well deserved.
Good for him
Got to love it more power to Elon way to go
Meanwhile he is backing the unseen perpetrators of global control, setting up the ways to control YOU
It’s his company in all honesty. He started it , made it was it is .
Oh I give up!
He didn't start "Tosla" he bought shares, became a board member, and forced the original founders out of the company.
Made it what it is..?
As in, being the key player in the forced EV revolution against the people who don't ever want to buy one.
Beware of wolves in sheep's clothing mate.
They need to fix this, he doent "get" 56B dollars. He has to buy those shares outstanding by 2028 at a cost of about $4 billion, Musk's pay package was worth $2.3 billion when it was granted to him in 2018, though its value has sky-rocketed so that is why they say these stupid comments not really doing any research that took me all of 10 minutes...
Of the $56bn in value, he'll pay $4bn and the rest will be paid for by other shareholders through the dilution in the value of their stakes.
@gibbonsdp the shares were already outstanding that is the thing, if this packe didn't got thru then the shares would of been diluted as the would of went back to the company and then Elons pay package would have to be renegotiated which would of cost us even more money.
@@toddhanson658 The shares are not already outstanding. New shares would be issued - at a fraction of their current value - when the options are exercised. Giving Musk fewer options would cost the company less.
Well shareholders believe without him around, Tesla is worthless。 They are the owners, their rights to decide.🧐
It's not PAY... It was an options deal worth $2.3B... For each additional doubling of the 2018 company value ($50B), he got another one percentage point of ownership... on top of that, it has been expensed as each milestone was reached. there is no payout by Tesla. In fact, Tesla will gain $7Billion when the options are exercised.
0:55 Correction, before the shareholder vote he owned around 13% of Tesla. He will now own 25% after being approved to receive the compensation shares
It doesn't affect the court decision. It simply overrides it by re-awarding it and locks it in by taking the jurisdiction away from the Delaware court. There is no reason to go back to that court or any court as the award has just been re-awarded and any future complaints will be decided in Texas where Biden holds no sway.
The only reason to revisit it would be to claw back the attorney's fee granted by Delaware.
You are clueless, that's not how any of this works
Money Talks and, you know the rest.
and people think this is a big number but it's not, this number is divided into multiple years, and not to mention all the overtime he put into the company, I mean cmon people!
I have worked under Robyn D (chair) before.
Since I would like saving shareholders money I gladly would accept 10 or 100 times less then Mr Musk. 💰💵💵💵💵💰💶💰💴💶💷💸💰🇦🇺
Whats insane is ppl were trying to deny him his money.
Glad for Musk🎉
I am not jealous of Elon's pay package. I am a stockholder for 3+ years and haven't seen anything worthwhile . . . yet.
Welcome to Tx!
1:28 The Delaware court didn't knock it back just because it was excessive, they did so because voters had not been given unbiased information at the time.
I was just watching the same news on a liberal channel. You should have read the comments from the people , crying and bashing Elon for leaving. When its all of the northern states who have lost so many major companies and corporations and prevented many from coming up there and opening up businesses. This is what they wanted. All of them are going to Florida, Texas or Tennessee, or some other Southern state... They're not going to or staying in New York, Delaware or Connecticut.. There are just too many outside liberal forces straining their companies and businesses up there.
Delaware is simply a tax-beneficial address for corporations. They rarely have any presence there.
"THANK YOU ABBA FATHER 👨, ALMIGHTY GOD, ICJN AWESOME 👌 AMEN 🙏." ❤🇬🇧 ❤
Well done Elon. Love what you do.
He took no pay,
Hit his KPI’s
And deserves to be paid…
70 or 40?? Or is that the exchange rate?
$46 billion USD.
Bye delware
That covers the Twitter payment. 😂
Astonishing Musk love here - you'd think it was the commentators who were getting it. To be clear, the $571 billion @ 0:36 is the company share value, and vastly more than the company assets or all the gross profit it has made since it was founded. In fact Musk's award is about equal to that latter amount. The share value is high for the same reason as the Bored Ape NFT price was high. The award is obscene.
ELON!!!! Buy the US government ( they’re for sale, you know) and make Trump President 🇺🇸🇺🇸🇺🇸🇺🇸🇺🇸❤️
Bye bye blackbird....
And the Albanese Government want to waste Australian Taxpayers money sueing Elon Musk... 😅😅😅
@@holley850-ij8dn The government doesnt actually have any money of their own, their money ALL comes from the taxpayer..where do you think
Proof it was an absolute total miscarriage of justice : what
Shot memories we have , just recently we voted against a referendum that was accepted and cost millions
@@holley850-ij8dncan't sue anything with a pretend paper value
Elon is the modern day Eron. A fraud. Look around you
Don't be surprised if he pulls the plug ,, sooner rather than later. He just has to find the right sucker.
Wait till the reality sets in that a sharehoder vote doesn't void a court ruling.
At least pretend to have negotiated a new package with independent board members....
I'm shocked and disgusted that these muppets insist on paying $56 billion for a mentally challenged, absentee CEO with a dubious history and questionable morals. Let the short selling commence
You sound jealous. Get a life.
❤❤❤❤❤
Good, a deal is a deal.
CYBERBORG NEWYORK SHEEESH I CAN EVEN RETIRE FOR LIFE EVEN WITH $ 10 MILI SHEEESH! STAY CHILLYPOP TO WIN!
If successful, elon will own 33% of Tesla?
Only 25 pct in total !
25 percent
thats their secret power number, but only because it was Jesus age when He beat death and sin..why do you think the enemy likes it? Everything God creates, the devil counterfeits.
Good work if you can get it. Wonder how much the 14,000 employees who were laid off will get from him? 0
He will take you all down with him.
1:38 correction: It wasn't Elon who put the ratification of the 2018 deal forward, it was the board and Elon and his brother did not vote on it neither did they back in 2018.
Also a deal is a deal, Elon 10x shareholders money so who the hell are we to say "nah we happy with our money but you get shit hehehehe".
There is no discernible difference between what Elon wants and what the board agrees to.
Seems like he is worth every penny...
There are 1,000,000,000 people living on less than a dollar a day? Their lives have value, but we've sleepwalked into a situation where economics are so grossly distorted one man can be given a sum like this and people think he's worth every penny. A rebalancing is needed, and it will happen eventually, peacefully or I fear forced upon us.
Fantastic news
Harm
This will bankrupt Tesla, maybe that's the point, Tesla cars aren't that popular.
With resale values dropping like a hot potato, having to rent space to park those unsold cars, recalls for several reasons, AI hands free not working correctly...... yeah, pay the man that ridiculous pay package. Now wait & see the whiners about greedy owners
Wow, it was 56B just minutes ago, I missed the part where it went to 70B
70B in Aussie Dollars
Hi Elon could you sort of give me a few grand pay my bills and get some stuff like heating in my house and live comfortably in my sham shack of a couple bungalow and have these last few years or a year or two the way my health is .
Much love to you Janey ♥️💯🥰
exactly, idolising this man is a tragic, defunct empty exercise...
God Bless Elon 🙌 🙏🏼 ❤️
Trump 2024
If he gives all of his money to the poor and takes up his cross and follows Jesus, God will bless him.
I believe it was Jesus who said; "it is easier for a camel to go through the eye of a needle than for a rich man to enter the kingdom of God"
So your idol wouldn't be getting God's blessings, quite the opposite, he will spend eternity in hell. 😂
Nothing wrong with capitalism but the checks and balances are clearly needing improvement when one man can get a pay package that could pay off the national debt of many poor countries. Our economic system exists to benefit the whole population overall, not lock down more and more wealth out of their grasp. I just hope musk spends it on his worthy 'occupy mars' project.
👍👍👍
I don’t know how he gets by on such pittance: Barron Rothschild
Elon can u loan me a couple hunnerd dollars until next year
Good
Someone help me out? Friend is bugging me about Musk (he doesn't like him) - I do. But I'm stupid. Anyway - he told me someone wrote this:
To illustrate how insane Musk is:
-The bonus is equivalent to 10,000 dollars for each car Tesla has made.
-Total assets in Tesla are approximately 100 billion dollars, the bonus Musk is demanding corresponds to half of all Tesla's assets.
-Total salary for all other employees in Tesla is about 10 billion dollars, so Musk will have 5 times more than what everyone else in the company together earns in one year.
- He dismissed 14,000 employees a few days before to
Save Money.
... I'm like. Okay? - Mostly I wonder why people are so insisting on hating on a man that bought Twitter and opened it again to the public to say their damn opinions. Why don't you go hate on some war-profiteer or something instead? Like maybe ALL of Washington DC? But naaw.
So can someone fill me in? What is this about?
Seems like a bargain. The best advertisimg money can buy.
Wooohoooo🎉
He deserves that and more his price tag it’s immense, Tesla it’s Elon Musk brand
As he well deserves. The arrangement seemed crazy back when it was drafted but he was right.
He can now embark on a different venture now with $70 Billion . God knows what this will be as he half does things and then embarks on another venture.......lololol IMHO
❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤very very happy good Thanks you ❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤
great news
Socialism for the rich
This is what the end of capitalism looks like… well one can dream can’t one?
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.
Clearly the Delaware court disagrees. But you are quite right to say that such an outlandish award should never have been proposed. If the board had been doing its job, then it would not have been.
@@gibbonsdp clearly it would be overturned soon
@@AdrianCHOY Probably. There's only so much a court can do to save shareholders from their own folly.
Will you share?
O Homem dos foguetes espaciais
É o cara!
"Whoever multiplies his wealth by interest and profit gathers it for him who is generous to the poor" Proverbs 28:8
He deserves to get payed! Imagine the court says you can’t get what you were promised, you get whatever the judge says you get?!
If the amount wasn't so egregious, the court would not have stepped in.
@@gibbonsdp you’re missing the point! He bet on his company and went without salary that’s why they made the deal with him. The greed is on them because they never in a million or billion years through it would do so well. Now they have to pay up.
@@1914inheaven Musk isn't the only tech CEO to take no salary. Nor is he the only one to blackmail his shareholders by threatening to relieve them of his almighty presence. But none previously have extracted such an egregious price for the privilege.
@@gibbonsdp I agree that’s a ridicules amount of money but deal is deal. If they didn’t like the deal they shouldn’t have made it.
Elon Musk pays his Tesla employees $10 billion a year, and he pays himself $70 billion a year? What happened to this world?😂
Well I guess Tesla is not doing as bad as they claim then eh……NO HUMAN BEING SHOULD EVER MAKE THAT MUCH MONEY.,..ITS OBSCENE
Why not? You don’t mind Joey handing Ukraine that much money in a single day, do you?
@@Threedog1963 actually “Joey” belongs in a prison cell with his son. Imagine a whole prison filled with ex-politicians
Musk a biggest then gad, for real
Just goes to show - become a fanboy shareholder, and you'll get bilked. Most of his shareholders won't even realise that his bonus will be coming out of the value of their stakes.
@@DG-wo8fx Whatever the share price does, other shareholders' will be getting less of it as their stake is diluted from 87% to 77%.
@@DG-wo8fx Only a fool shorts a mood stock like Tesla. I'm more concerned with the terrible example this sets for corporate governance.
@@DG-wo8fx I assure you that I fully understand the simple basics of stock trading, along with the importance of good corporate governance and protection of minority shareholders. As do the many institutional investors and shareholder advisory groups who voted against this egregious deal from the start.
What you don't seem to understand that if your stake in a business is diluted by giving the CEO options, you get a smaller share of the business and a smaller share of the upside, however great that might be.
@@DG-wo8fx The company has not reneged on the deal - the court has blocked it, on grounds that it was "unfathomably" generous and an abuse of shareholder interests.
And there are plenty of corporate governance issues here. A CEO of a public company who has stuffed his boards with yes-men. A CEO who has browbeaten shareholders into an absurd remuneration package with threats to quit. And a board that has failed to look after the best interests of the company. That's why shareholder advisors called for a No vote.
@@DG-wo8fx Hilarious. I'm a qualified accountant with decades of experience in stock markets on both the buy and sell side. What are your qualifications?