Elon Musk's $56 Billion Payday: Tesla Votes Passed by wide margin. Shareholders Make It Rain
Still on Tesla folks, gather 'round because we have a juicy one for you today. Picture this: Elon Musk, the man who makes Tony Stark look like an intern, just tweeted about Tesla shareholders voting on his little pocket change of a pay package—$56 billion. Yeah, you heard that right, billion with a 'B.' And guess what? It's passing by wide margins, which means most shareholders are either very confident or very blind.
Now, Musk's pay isn't the only thing on the ballot. Tesla’s planning to pack its bags and head to Texas, leaving Delaware like that ex you promised to stay friends with but really don’t call anymore. They're also voting on re-electing two board members: Musk's brother, Kimbal—because what’s a tech empire without a little nepotism?—and James Murdoch, who I'm pretty sure is just there to make everyone else look good.
Musk thanked shareholders for their support in his tweet, as if they had a choice. Some investors see this vote as a test of confidence in Musk's leadership. Sure, Tesla's had some slowing sales and profits, but the board's basically saying, "Hey, he's the richest guy in the world, give him his money!"
Meanwhile, a Delaware judge previously said the 2018 pay plan didn't ensure Musk spent enough time on Tesla. I mean, who knew a guy running multiple companies and planning Martian colonies might be a tad busy? Musk, ever the team player, has threatened to build AI and robotics products outside Tesla if he doesn’t get enough voting control. Classic Musk move: "Give me what I want, or I’ll take my rockets and go home."
So there you have it, folks. Another day, another billion-dollar drama in the Musk-iverse. Stay tuned, because with Elon, there's never a dull moment.
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151149039 : Now we need a relax on Diablo 4, Elon.
ZnWC : Lawyer fee likely to reduce by 99%
Tornetta Vs Musk case lawyer deserves only $29 million legal fees not $5.1 billion
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