Tesla pushes for $56B pay deal for Elon Musk 20240417_1621BST

[chipuni]

Compare and contrast: https://qz.com/tesla-layoffs-confusion-elon-musk-1851416343

$56 billion for Elon. Layoffs for the people who made his cars.

[TheLoafOfBread]

Is it going to fail exactly same as last one, because board of directors is still not independent?

[nojvek]

They changed to be Incorporated in Texas. Texas is corporation friendly.

[syntaxing]

From all the Musk simping, I’m gonna go on a whim that a lot people here didn’t read the verdict. At a minimum, I recommend the first handful of pages. It explicitly talks about why the judge voided this. Musk made a boat load of money to begin with from the valuation appreciation. The question was, does the extra 56B provide required incentives for Musk to do his job. The answer was determined to be no, he already owned over 20% of the company. In addition, the board was not doing its job to protect its shareholders since the board has heavy personal vested interests and relationships with Musk.

[drak0n1c]

Good. Courts should not undermine shareholder consented contracts nor should the company be intimidated out of following through. Any minority shareholder who seriously disagreed with the 2018 compensation plan has had 6 years to trade out of the stock.

[hackerlight]

This is completely ignoring the contents of the ruling. I can only imagine deliberately so.