Future of Elon Musk and Tesla are on the line this week as shareholders vote on massive pay package
Ladies and gentlemen, gather 'round because the drama at Tesla is reaching "Keeping Up with the Kardashians" levels of intrigue. This week, Tesla shareholders are deciding if they should restore Elon Musk’s $44.9 billion pay package—yes, you heard right, billion with a B—that got tossed out by a Delaware judge. And in true Elon fashion, he's hinted that if he doesn’t get his way, he might just pack up his AI toys and go play somewhere else. Because why just quit when you can make a spectacle out of it?
Now, let’s break this down. Imagine your boss demands a raise so astronomical that even space doesn't seem far enough, and when the court says, "No way," they threaten to take their genius to another playground. That’s Musk for you. The man doesn’t just think outside the box; he thinks outside the atmosphere.
So what’s at stake here? Well, if they vote yes, Musk stays and promises to focus on Tesla's future in AI and robotics. But if they vote no, who knows? He might just leave Tesla, and we all know what a Musk meltdown looks like on social media. He’s already demanded a 25% stake in Tesla (he’s got about 13% now), and he’s flexing his new AI venture, xAI, which just snagged $6 billion in funding.
Analysts, like Wedbush’s Dan Ives, think this will get approved because, frankly, nobody wants more Musk-induced drama clouding Tesla's stock price. The company's already had a rough year with a 30% stock drop and slowing sales growth.
But wait, there’s more! The shareholders are also voting on whether to move Tesla’s legal home from Delaware to Texas. Why? To escape the Delaware court’s oversight that rejected Musk’s pay package, of course. Delaware’s like, "You can’t just move states to dodge a court ruling," but Tesla’s playing coy, promising not to run off to Texas mid-case.
And in the midst of all this, we have institutional investors like Norway’s wealth fund and California’s State Teachers Retirement System voting against Musk’s mega-payout. They’re like, "Listen, Elon, you’ve done great, but this is just too much."
So, tune in folks. It’s the season finale of "Elon Musk: Pay Package Showdown." Will the shareholders approve the payout? Will Tesla move to Texas? Will Musk take his AI and leave in a huff? Stay tuned, because with Elon, anything is possible.
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Tan Kim Song : If you had not vote the proxy, pls do it by today and do vote for Elon.
Randominvestor : Congrats Elon!!!!