Elon Musk Lobbies on X for His $46.5B Tesla Pay Package
nytimes.com
nytimes.com
He didn’t do it all. The company of very smart people got them there. Sure he is the CEO but… he couldn’t do it all himself.
Ford and GM have more and better engineers than Tesla, but can't achieve what he did.
Rivian and Lucid are full of Ex-Tesla employees, again, aren't at the same level of profitability and production levels Tesla had when it was their age.
(same for space, Boeing with engineers, Blue Origin with Billionaire money. Etc etc)
The difference is him. Recognize it and account for it.
you don't have to like him or his products, you just have to admit he's the lego piece that made that makes the toy work
Count me skeptical about a 46B pay package to a part time employee thats constant bad PR.
No magic, just hard work and sheer pigheadedness.
You don't have to like him, but we can't pretend the last 15 years didn't happen. It happened, and happened because of him.
This isn't reddit, we need to accept reality here.
Should they build permanent magnet motors or induction motors?
Should they use aluminum or steel? so on and so forth.
And these decision rest with the C-Suite and ultimately the CEO, and if they make the right calls, the company succeeds, sales increase and the share prices rises, making shareholders happy. If not...
And making the right call depends on the skills of the CEO, in this case both the business and engineering (yes, specifically that) skills of Elon Musk.
He used them, made some bad calls, made some good calls, but over they years made enough right calls to that he was kept on as CEO for multiple years in a row, and he made everyone rich.
Employees were paid, Board members were paid, he should be paid too.
Don't like him? Pay his dues and fire him.
In fact if you want weasel words, follow Musk (although that's more a rabid weasel ... or perhaps a hyena).
If Twitter's decline is anything to go by, one might assume that Tesla succeeded despite Musk ... just a right product at the right time ... and he got lucky.
That's certainly warped perspective.
I was alive and online when the pay package was announced (21 March 2018), and I remember how much it was NOT certain any of this would come to fruition.
It's simple, he was shown ~2 Bn worth of shares and told he would get them only if he converted the shares to 56 Bn.
You (the big institutional shareholders AND the small shareholders) were greedy and knew what he would do, you paid for alchemy and he made gold from lead, don't cry now.
____
disclaimer: not an american, not a shareholder or user of his products (not even paypal lol, it doesn't work in my country)
It's up to the market and their stupid analysts to judge how much they value all the various hopiums (autopilo/FSD, 4680, large castings, Optimus, etc etc)
Shareholders agreed to that, and he met those standards. If you didn't like the metrics, you should voted against it in 2018, and upon failure, sold the shares.
But if you kept the shares, and enjoyed the multiple share prices increases, then it meant you agreed.
Then after paying, by all means fire him. His current performance is lacking, after all.
But if the Shareholders and Board vote to keep him, and yet vote not to pay him, then it's absurd.
I'm in favour of lower executive compensation in all publicly traded companies I hold (which, due to ETFs, is nearly every publicly traded company), I can't very well stop holding stock of every company that doesn't decrease executive compensation.
He could just resign and move to xAI or whatever the fsck he raised that $6Bn for last week.
Or to SpaceX.
Or to Neuralink.
Or to Boring Company.
Or Twitter/X.
or to whatever stupid thing his ADHD brain is fixated on next.