Former Tesla board member Steve Westly says he would vote 'no' on Musk's pay package
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- čas přidán 5. 06. 2024
- Steve Westly, former Tesla board member and The Westly Group founder, joins 'Squawk on the Street' to discuss Tesla CEO Elon Musk's upcoming shareholder meeting to determine his compensation package.
Asking for a pay raise ? This was a contract signed 2017
What's happening now has nothing to do with the deal. Targets was achieved , he should get paid
🤥 Elon pumped $TSLA shares with Fool Self Driving and sold at the top - to overpay for Twitter.
What a weasel. He already earned the package.
Found the elmo cultist.... Nah only reason elon wants such a absurd pay package is so he dump and bolt. I believe he owes the Saudi's around that much for his absolutely disastrous play on Twitter.
But it seems cnbc bring in quite low quality people. Ross Berber having 800 shares and now this guy 😂
Westley should return his 6 year pay if he wants to vote “no” on Elon’s 6 year pay. Let’s see what westley says in this case
greed...😂
That’s awesome!
This doesn’t gives any security to any CEO if he works his ass off for next 5 years and his pay contract will be rescinded through politics!
If this happens then Tesla is on its way to become another Ford/ GM run by executives who are more concerned on their yearly bonus packages rather then ensuring a long term vision is achieved!
The board of directors BROKE THE LAW by not negotiating in good faith and instead rubber stamping what Elon wanted. Just like Elon broke the law making billions selling stock on inside information. It's a public traded company owned mostly by people not named Elon Musk treated as a sole proprietorship by him and his fanboys.
the institutional investors voted yes in 2018 and vote no this year should be boycotted by investors, they have no shame…😅
Why should they vote yes? The court found the vote was defective. Elon isn’t entitled to their vote. He can go pound sand if this isn’t approved (I bet it is approved).
What a weasel this guy is. This was already agreed upon bro.
Hes a honest man!
@@brunoheggli2888no he's a rat for this
so was Musk's commitment to Tesla, guess an eye for an eye, eh?
The shareholder vote was defective that’s why it needs to be voted on again. I’m a NO.
Big Fat NO!
Tesla is laying off staff to cover costs ,how can this even be discussed .
Either you’re a bot or a schill. What a stupid comment.
Its a matter of principle... An agreement agreed & signed upon newds to be honored... It's a simple, straightforward process... Unfortunately, a large number of ppl have lost values...
Despite listening patiently to everything he said, my conclusion is clear: he is deceitful, dishonest, and utterly reprehensible. It's shocking and disappointing that Tesla allows someone of his low caliber to be a board member.
You're referring to Musk, right?
I watched Wesley the Skank live. He is “an ungrateful guest” who enjoyed Musk’s hospitality and became rich because of Musk now stabbing his benefactor in the back.
Reading the comments gives me such a relief that most people understand clearly that Elon earned the compensation, in despite of the media campaigning against him.
Anyone doing business with Steve Westly should cease immediately, for your own protection. He should be a pariah.
You are a pariah not him.
History will always repeat. Remember Apple and Steve Jobs?
Vote NO!!!
Such a boneless man
If a contract is not worth the paper we write them on then why have contracts? In my opinion Elon has earned every penny plus now that he has to go through all of this BS by unappreciative shareholders that have seen their investment 10X.
Steve Westly is a weasel as Tom mentioned. He got his money and cashed out all because of Elon. Now, he is taking the unamerican position with zero shame. Going forward my trust in this weasel is beyond zero. Truly shameful.
Everyone should remember what Westly did here before doing business with this man.
@@brianmangan15 He was a politician. California politics!
Pay the man
He’s a traitor
@mygic183 Your orange savior is a traitorous felon.
👿 Indeed, Elon Musk is a traitor!
Specifically, in a 2013 tweet, Musk stated:
🤥 "Forgot to say one thing at Tesla annual shareholders meeting: just as my money was the first in, it will be the last out."
👿 Indeed, Elon musk is a traitor!
🤥 In a 2013 tweet, Musk stated:
"Forgot to say one thing at Tesla annual shareholders meeting: just as my money was the first in, it will be the last out."
wtf man, does this guy OWNS $TSLA shares??? If no, then why invite to SPREAD negativity??? The loser doesn't care if the stock goes down 🤮
Lemme buy more Tesla share…go Mr. Musk…
You Steve have GOT to be kidding!
Here's the thing: you folks say this pay package is for Elon's 2018 achievements, why didn't he asked for it in 2019, 2020, 2021, hell even 2022, but only bring this up in 2024? Please help me to understand.
Must have had a bad fall and hit his head...or is just a blathering propaganda hater of all that is good.
It's not "Pay" let alone a "Raise". It's stock options that Elon has to buy. Having said that, lets clear up another misconception. Elon's compensation DOES NOT cost Tesla a dime. Tesla would actually make $7B when those options are exercised because Elon has to buy the options for $7 billion in total, at a per share price set back when the contract was written and those shares are then created with the click of a mouse. So it cost Tesla zero, it just increases the share pool causing shareholder dilution. So it's the shareholders paying Elon, and the shareholders overwhelmingly approved.
Steve if someone owns 52% market share they own more than everyone combined by default…lol
Actually in case you’re not aware, if they own more than 50% they have more than all others combined 😮
See cause that would be more than 1/2 and that would only leave 1/2 or less to be divided among the others.
Even Steve is not clued in on what Elon's compensation package is. These guys are incompetent.
Musk already earned the contract levels. What is happening now has nothing to do with it.
Tesla charging Up for another green close today as the EV sector Surging another Summer. FSRN..7 %.. Fisker. Near 7,000 Ocean deliveries... Rivian...Xos Trucks.. Lillium Evtol Jets and more.
what a clown 🤡 blah blah blah...
There’s a Bobby Axelrod behind all of this about to make billions.
not hybrid? lol
Smiling assassin. Wonder how Westly would feel having his remuneration stolen for work he completed 5-10 years ago.
52% because the blocked imports
Steve Weasel
What sneaky face this Steve
What a peach this guy is . Elon has not been paid for 7 years . He pulled it off , pay the man ! What an empty suit this man is .
Steve Westly is not a good person
please vote yes and dilute shareholders so that i can make more with TSLZ 😂
Steve Westly was a top candidate in the Democratic primary for Governor of California in 2006, but he didn't win the race....Never this guy.
revenge of the nerds
So Wesley is an unhonorable business person, probably shouldn't put your money with him.
She's wrong the world is waiting for pure EV and longer batteries, she's needs to find another job.
Anyone thinking Elon deserves 50 billion dollars needs brain surgery
PaY the man
💦 Glaze the man!
All silly excuses not to pay the man who put his sweat in this company!!!
This is typical American cunning shareholders who would want the CEO to work for no money for 6-7 years and make them the same money as CEO’s shares while these cunning guys were enjoying on the beaches with their families!
Mark Zuckerberg takes a $1 annual salary from Meta. Elon is the greediest man on the planet potentially. I voted no on the giveaway package.
He is not asking for a pay increase. He is asking to get his options that were promised to him for doing an impossible task. Everyone got rich out of it, but now that you have an opportunity to not pay him (rob him) why not!! Right. Would you work for this Steve when he will f&$k with you if he can
The task was not impossible. And he is not owed shareholder votes. I voted no. He can be paid a reasonable sum or he can be paid nothing. I won’t have anything to do with a giant corporate giveaway. Give him your shares for free if you want.
@@singed8853i voted yes to give him those options and in exchange I got what I asked for, now he won’t be paid because you feel the amount is to big or not justified. If you voted no the first time or were not a shareholder at the time and now you vote no, that makes sense. But if you were a shareholder then and said yes and now say no, you are a crook.
You cant vote to violated securities law. The courts told them toactually negotiate they refused instead using threats of sabotage to blackmail investors into doing what they want.
@@geelangfordo3272what are you talking about violating securities laws??? Last time I checked the SEC was fine with the package. This is a law firm who is asking now for 5.6B in stock option as a reward to cancel the contract between Tesla and it’s CEO. Harming the shareholders, if you are a shareholder you loose if you are not a shareholder than your opinion does not matter.
@@ThePhilangeli The judge threw the package out because it was not negotiated on behalf of investors it was dictated by Elon and rubber stamped by the board of sycophants who pretended they negotiated in good faith.
It’s pity that guy is owner of Tesla stocks
What a Mitch!
He shouldn’t get any pay. What has him done for TSLA or any company?
The board has to negotiate in the best interest of shareholders it clearly did not do that and looks the other way as he insider trades and sabotages the company to benefit his other businesses. If the SEC did its job Elon and the entire board would be forced to step down.
Tesla is not the future product Elon knows now. After he back and forth between US and China. Mission accomplished for him. LOL...
Steve shame on you
What a jerk
cringe
well there goes our profits to spacex... over 1.2 billion in nvidia AI processors. Musk needs to be ousted.
He is cherry picking the data. He is probably shorting Tesla stock.
He dont get pay ! He will sale all his stock and move on now he can get money ....he knows telsa is not more profitable and telsa will go down 👇 made history and real movie coming 😅😮
Elon can go pound sand. Let him leave. If it’s 56 billion or nothing I vote nothing.
No he wont every other business he runs doesnt make any profit.
Westly the weasel
🐍
Çox da Elonun qozunadı axı )))
Their excuse is always "but what has he done lately"
🤥 Elon pumped $TSLA shares with Fool Self Driving and sold $TSLA at the top - to overpay for Twitter. 📉
another musk hater
Elons fanboys are a cult who think he can break whatever SEC regulations he likes if it benefits him. He just got caught insider trading and then sabotaging Tesla with that chip diversion and non of you seem to care.
@Mysterwealth Another muskox's penile rider.
What a SELLOUT
Steve is scummy
The Con is over . Elon wants to cash out and move on.
Tell us you don't know what you're taking about without telling us you don't know what you're talking about.... Elon would get options, have to inject cash into Tesla to convert those options to shares, and then he needs to hold those shares for 5 years without selling. This does not allow him to cash out and move on.
🎥
#Project2025 Spread the word of evil
No! Elon does not need to get paid! The Delaware Judge said - "NO" to the paid. Elon needs to be working for free. That was the ruling! All the institutions will vote the way of CalPERS(California Pension Plan) that strongly opposes paying Musk now and vote "Yes" the 1st time too! All the law professors on CNBC on Elon's Pay Package said basically that Musk should not get paid on his contract but maybe something to what an average CEO gets paid. The Tulane Professor question if Musk should get paid and The Columbia Professor question if Musk is the right person to run Tesla!😊😊😊 Steve Wesley said “No” to, and he was on the BOD of Tesla!😮
🤡👀👊
I sold my 1335 shares because of Elons bad CEO behavior. I wouldn’t give him 10 cents. Tesla’s a dead company. Way over valued now!
I hope you made money
@@ronsilva7394 lost 76 k. Tesla hasn’t moved since i sold but my current investments have gone up. Ask me if I’m mad at Elon and his big mouth. I worked hard for that money just to have a rich arrogant jerk who doesn’t know how to behave as a CEO. I was waiting to dump it when I broke even but he wouldn’t shut up!
@@ronsilva7394lost 76k waiting for Elon to shut up so I could break even and dump it. I would still be waiting today.
Now that's a man who still has a pair. Unlike the current board and many unhinged elmo's minions.