Hacker News Reader

Comment by 2OEH8eoCRo0 | Hacker News Reader

What's the CEOs fiduciary duty again?

SpaceX is a private company. Tesla is public, but the board is not independent, still trying to give Musk a pay package of $50 B.

CEO answer to the board, but a board can be controlled by the founder in one way or another. For example, Zuck control shares with more votes and Bezos have vote rights over his ex-wife shares. The CEO can also fill the board with loyalists, as Jobs did on his return.

Tesla would in principle be so much better off without the connection to Musk and all the bad publicity that results, even without him constantly siphoning value from the company. However, if they were able to somehow get rid of him now, there'd be the potential retribution from the US government to worry about.

In what world Elon is the founder of Tesla? He's just a CEO and about 20% shareholder who stuffed the board with his cronies in ways that should interest legislature so that laws can be written to prevent something like that from happening again.

This world.

He sued the original founders into granting him the title. Although it really shouldn't be that big a deal he's labeled as founder. When you're the CEO you can just generate titles anyways so he could be called the The Excellent Supreme Leader Always (TESLA) and it'd be allowed.

In layman terms he's not a founder of Tesla but titles aren't required to fit a layman's definition.

I get a laugh out of HN comments maybe 5 times in a good year. You got me with this one!

So, he's "The Founder" (title) but not "the founder" (concept). Got it.

> When you're the CEO you can just generate titles anyways so he could be called the The Excellent Supreme Leader Always (TESLA) and it'd be allowed.

https://ir.tesla.com/corporate/elon-musk

> Elon is Technoking of Tesla

Pay package is over $100 Billion now due to stock price increase.

To not deal with flaky people whose word is worthless and whose ethics are worth even less.

Reply on news.ycombinator.com