Here's how critiquing Elon Musk's pay package cost Charles Elson his consulting gig

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@alanhall6909 7 ай бұрын

He agreed to a pay plan that he would be paid handsomely but only if he met near impossible goals. If he didn't meet the goals he would get nothing. Shareholders voted for it doubting that he would ever do it. But then he did, but a judge ruled it wasn't fair after the fact. That's totally not fair to refuse to pay the man as agreed. He made the impossible goals now he gets paid nothing? That's BS. Its a breach of contract. Its no different from agreeing to pay someone, a contractor or employee to do the work but after they do it, and meet the goals, decide not to pay after all because it seems like a lot of money. Imagine buying the winning lotto ticket but the lotto company saying the jackpot is "too much" so you don't get anything because the other people that bought lotto tickets voted not to approve it. People never want to pay after they get what they wanted out of you. That's why we have contracts and the law is supposed to enforce them, not cancel them.

@Mrgaunt1 6 ай бұрын

"People never want to pay after they get what they wanted out of you." Too true - sorta like how some workers didn't realize they were let go until they showed up to work and found that their badges didn't work at Elon's company back in April. Or how Elon just fires an entire 500 person Supercharger Team cuz he's in a bad mood and someone DARED to stand up to him.

@island97 6 ай бұрын

@@Mrgaunt1 stand up to him is doing a lot of lifting there 😂

@alanhall6909 6 ай бұрын

@@Mrgaunt1 False comparison. All laid-off employees got paid for their work. A company does not owe their employees lifetime employment just as the employees do not guarantee they will never leave for a better job elsewhere. Elon's history of laying off people is well known. No one goes to work for him thinking they will never be laid off. They knew what they were getting into.

@lukasfranca1292 6 ай бұрын

Elon's pay package was canceled not because of the value itself, private companies are still free to pay their executives as much as they want, but rather because of the approval process itself. A good part of Tesla's board of directors has close relationships (financial, personal and even family in the case of his brother) with Elon, and they concealed various metrics showing that the established goals themselves could be easily achieved. It's not the value itself, but it's the process.

@0007Donald 6 ай бұрын

@@lukasfranca1292 That is incorrect. The judge ruled against the pay package primarily due to her belief that Elon did not require further financial motivation to continue working for Tesla due to his preexisting 21.9% stock ownership. The judge penalizing Elon for being personally invested in Tesla is ridiculous and illogical. She should judge the worthiness of his pay package based solely on the growth of the company from 2018, ignoring his prior personal investment in the company.

@cpangws 7 ай бұрын

We will all find out that Elon may be the greatest con artist of this era.

@reggie2261 7 ай бұрын

If CEOs pay are base on stock performance am for it, some CEO get paid ridiculous sum even though the business is not making 😀 money like Lucid for one

@Hinodei 6 ай бұрын

The package would be more than tesla has ever made in profits. And the cybertruck isn't helping stop the cratering of the stock price

@Barb4sale 6 ай бұрын

Ceos make bonuses based on revenue. This isn’t the case here; this pay was based on market cap value. In other words “perceived worth” in other words “illusion”. Gotta understand the difference between real money earned as revenue and this.

@island97 6 ай бұрын

@@Hinodei the package was based on tesla value going from 60billion to 650 billion . He achieved this and investors made 10X their investments. Cybertruck wasn't intended to have any significant impact on tesla sales. Elon said that 2 yrs ago.

@island97 6 ай бұрын

@@Barb4sale you gotta learn how to read. The pay package wasn't solely based on market cap. Profitability and EBITDA was factored in. So he could have achieved the 650B market cap and got Zero shares if he didn't meet the other targets. That's why at the time it was seen as near impossible to achieve.

@Hinodei 6 ай бұрын

@@island97 its trashing the company's rep and tesla stock halved in value bro

@khockhong 6 ай бұрын

it would be cool to see lucid and nikola or any car company take up same package deal

@alexedens1 7 ай бұрын

The plaintiff’s lawyers argued Elon’s pay package was ridiculously high. The judge agreed. Then the lawyers based their compensation on the amount they and the judge agreed was ridiculous. Makes sense to me.

@markthomas7279 6 ай бұрын

That not the whole truth though is it poppet??

@alexedens1 6 ай бұрын

@@markthomas7279”The court found that the size of the package was excessive.” Most of the story sweet little muppet.

@alexedens1 6 ай бұрын

@@markthomas7279 Here’s the rest Sweetpea: “The lawyers who voided Elon Musk's $56 billion compensation as excessive on Friday sought a record $6 billion legal fee”

@alexedens1 6 ай бұрын

@@markthomas7279 “The lawyers who voided Elon Musk's $56 billion compensation as excessive on Friday sought a record a $6 billion legal fee.”

@alexedens1 6 ай бұрын

“The lawyers who voided Elon Musk's $56 billion compensation as excessive on Friday sought a record $6 billion legal fee”

@chillguy2758 7 ай бұрын

Tesla is wouldn’t be the best EV company without Elon. Pay him what he’s already worked for and earned

@smileandlaughs 7 ай бұрын

They wouldn't have nothing if there wasn't a supply chain issue with other manufacturers during the pandemic. Elon Musk had nothing to do with it. Today, with the supply chain issue went away, and tesla even has government incentives, yet their sales number drops. It got so bad they had to cut down their work force right before the stakeholders call. Why should the CEO be compensated while the company is struggling for money?

@buffbatman2 7 ай бұрын

@@smileandlaughs this is illogically wrong

@buffbatman2 7 ай бұрын

i expect that teslas retail investors will vote for elon for sure. but the large firms with more influence and less ethics could derail everything. blackrock makes my skin crawl

@KimetsuNoYaiba100 7 ай бұрын

He pumped vapourware to secure the package.

@chillguy2758 7 ай бұрын

@@KimetsuNoYaiba100 Tesla sold more cars profitably and fundamentals got better that’s why stock went up

@MinhVu-in9iz 7 ай бұрын

Nope, not even close, vote that package down!!

@markthomas7279 6 ай бұрын

But you are not a shareholder are you?? You just resent his achievements.

@neerajgowsami6969 6 ай бұрын

@@markthomas7279 yes out of spite hehehehe

@MinhVu-in9iz 6 ай бұрын

@@markthomas7279 musk is a con man, he’s trying to get his money and run, Tesla is going down, and he’s moving on to his next project!!

@face4me2 7 ай бұрын

It's funny how they complain about employees getting raises but CEO just give him whatever he wants while the workers get nothing

@Barb4sale 6 ай бұрын

Do these workers have shares? I don’t think you know what you are saying..

@pietro160775 6 ай бұрын

I think the compensation packet needs to be reinstated. I think it’s so sad that it went to court. It was all legal and never should’ve gone to court.

@robertyu7341 7 ай бұрын

I love democracy a vote will take place to settle peoples’ difference of opinions. Yes, these are people who actually own shares of the company will decide not someone who just has a two cents opinion.

@Hinodei 6 ай бұрын

The board speaks on behalf of the shareholder but the shareholders can alway sue the board for fraud and going against the interests of the shareholders and the company.

@markthomas7279 6 ай бұрын

@@Hinodeihmmm but really ... Taking the views of one shareholder with a holding of 9 shares is not really representative is it??

@dvoglavaazdaja 7 ай бұрын

Elon earned his money. Tesla is great company!

@Hinodei 6 ай бұрын

He did not. He lied about nonexistent tech the was "coming next year" for 7 years. Hes a vaporware salesman that pumped the value with lies. Tesla is worth a tenth of what its stock is valued at, cant wait for the fraud charges.

@FuzzyCoconut7 7 ай бұрын

The hatred for Elon is not about Tesla. It's about his support for free speech on X.

@tatata1543 7 ай бұрын

X is a cesspit.

@MooseMeus 6 ай бұрын

100% political. you are correct sir.

@tatata1543 6 ай бұрын

He’s all for free speech until someone says something he doesn’t like. Ask Don Lemon.

@FuzzyCoconut7 6 ай бұрын

@@tatata1543 Don Lemon is still posting on X. He isn't being censored.

@tatata1543 6 ай бұрын

@@FuzzyCoconut7 I never said he was.

@leonardschoenborn9209 6 ай бұрын

To be clear, Elon has earned the billions that he already has -- that's it. For two and a half years now, Tesla's stock has been a trainwreck, and still floundering. But, because investor's appear to be threatened that he will either leave the company or downgrade his performance, investor's are being advised to approve his package. In my opinion, Elon is not going anywhere! Elon has way too much invested in Tesla to leave; furthermore, he has billions more to make if the stock reaches $400 dollars a share. That should be his incentive. Elon is, in effect, holding investor's hostage to approve his $46 billion compensation package on a threat to leave. What a scam! Again, Elon has earned the billions that he already has, but has NOT earned a $46 billion dollar package based on the last two and a half years of Tesla's performance. And now, to approve a $46 billion dollar package based on future performance, none of which Elon has any control, is a mistake. Why? The fact is, the last two and half years should tell you that Wall Street is in control, and the simple truth is, that Elon has failed to impress Wall Street despite all that Tesla does. What Elon must do is ensure that Tesla's stock price realizes $400 dollars a share and his billions more than double. That should be his only incentive, NOT a package. Let's see where Tesla is in a year or two, then decide on a package.

@Barb4sale 6 ай бұрын

Where is the source of “inverstors appear threatened”??

@markthomas7279 6 ай бұрын

No compensation since 2018. Obviously unacceptable. Nuff said. No need to say more.

@jceejcee5495 6 ай бұрын

Yes...exactly this!!! Finally a NON enabler.

@steveahalverson1532 7 ай бұрын

Elon wants 1000 times what the CEO of Nvidia receives. He says he deserves it because of Merit and because of incentives. Joke. That's 10,000$ per car ever produced by Tesla. Sick of fanboys/bootlickers' innumeracy. "OMG it's Elon..give him anything". Tesla is sucking wind...

@markthomas7279 6 ай бұрын

NVDIA guy could have done the risk deal with no guaranteed income too. He did not. Retrospective analysis is pointless. The goals are set at the start.

@TheJagjr4450 6 ай бұрын

I love it... they give him impossible goals to achieve over the course of 5 years, it's hit the goals and get paid. or miss the goals and get ZERO... Then when the pay package is astronomical(deserved) in retrospect it's WRONG? typical of bean counters.

@markthomas7279 6 ай бұрын

The time to ask was in 2018. We are well past any statute of limitations because the job has been done.

@jordanslingluff287 7 ай бұрын

Billionaires are such crybabies

@Inan2015 7 ай бұрын

If 50 billion on the table I better become nervous too

@Wongseifu548 7 ай бұрын

This is not chump change we are talking about

@Barb4sale 6 ай бұрын

Makes sense, they have a lot more to lose than you. You can’t cry about losing something you don’t have 🤣

@markthomas7279 6 ай бұрын

It's not really in the table. It was on the table in 2018 and the job done.

@learnprogress6618 7 ай бұрын

The solicitors should not be paid. Non of us want them paid , a crap world it is full of dirty solisitors

@Mrgaunt1 6 ай бұрын

I want them paid.

@learnprogress6618 6 ай бұрын

@@Mrgaunt1 u go and pay them then out of ur own money , it’s robbery

@Mrgaunt1 6 ай бұрын

@@learnprogress6618 Just don't speak for "everyone" when you indicate NO ONE wants them paid - lol

@learnprogress6618 6 ай бұрын

@@Mrgaunt1 ok , so u think it’s right to these evil 👿 n my opinion lawyers to get paid several billion for going back on a agreement, , I should have put , most people & not everyone , as their are the bad out their too , lol , 😂

@trungtpham 7 ай бұрын

There are several titles for this segment; the choice of this particular one indicates bias.

@Barb4sale 6 ай бұрын

The hell are you even saying? The man him self said it cost him his position, in order to continue his work he had to resign.

@markthomas7279 6 ай бұрын

Of course its fair because all parties agreed to it in 2018. There is no other way to view an incentive package. Obviously the judge has enabled greed and opportunism to welch on the deal. Clearly welching is legal. But that does not make it right when the share price has grown by multiples since 2018.

@tatata1543 7 ай бұрын

I suspect the robotaxi launch in August will be a lot of bluster and boosterism followed by years of silence. Kinda like the Roadster, took full payment seven years ago, banked the money and now years later still no Roadster.

@markthomas7279 6 ай бұрын

Then don't be a shareholder and gfy!! Simples. It's your right not to invest. Good luck in your alternative world!!

@mildlycurious8333 6 ай бұрын

Im with you bro, the extreme bootlicking if elmo fan is wild

@tatata1543 6 ай бұрын

@@markthomas7279 Thanks! Good luck with your investment. You’re going to need it.

@tatata1543 6 ай бұрын

@@markthomas7279 😂

@tatata1543 6 ай бұрын

@@markthomas7279 I’m no longer a shareholder, I got the message and sold up when all the board members jumped ship first chance they got. It’s interesting, considering how we are told the stock is going to take off, that none of them have bought any stock since.

@peterc8021 6 ай бұрын

Remember the last hand in movie Rounders with Damon? “ He beat me straight up…..” “ Pay thaht Mahn his Mah-Ney…..”

@rudbeckia885 6 ай бұрын

No bonus for Tesla

@logangantner3863 7 ай бұрын

When everyone these days seems to be struggling more and more to pay their bills, you have to ask...Whose labor and wealth did that 50 billion come from that should now allegedly be going to one guy?

@chakmiss 7 ай бұрын

when people are dying of hunger somewhere around the world... you shouldn't get payed for what you do specially when you turn a 50billion company into a 550billion dollar company. By the way the compensation is a 10year agreement to be paid in if and only if there was a 10x stock rise in value. Shareholders had already approved in 2018 and everybody benefited immensely from this deal. All except one stockholder with 9shares and his layers ofcourse demanding 6BILLION for themselves for doing NOTHING. How would you feel if you were paid nothing for a rightful job you did after 6 years of extremly hard work where you did extremely well and the deal was already made?

@logangantner3863 7 ай бұрын

@@chakmiss Bro, he wasn't paid nothing, this is a BONUS on top of his crazy normal pay and stock options. tf are talking about? I also find it, as a worker for a corporation, borderline offensive for you to attribute 100% of a company's gains to the CEO. I work for an extremely profitable and high-yield company in SPITE of the terrible decisions of our CEO. We just make a good product. No, Elon does not deserve 50 billion, nor does anyone else. It's just egregious wealth accumulation accelerating nonstop until like 100 guys own 99% of the global wealth.

@chakmiss 7 ай бұрын

@@logangantner3863 Ok... so according to you how much is his "crazy normal pay"? This is not a bonus, this is a contract of payment based on performance. Payment was in fact agreed in form of stock options that cannot be cashed within 10 years. Fun fact, if stock didn't perform he would be payed nothing Tf are you talking about, read the fine print.

@chakmiss 7 ай бұрын

@Thinksmartlivelonger 7 ай бұрын

I watch videos of his gigafactory every day, no matter what weather occurs

@SerenitySilversmith 6 ай бұрын

Yes

@SerenitySilversmith 6 ай бұрын

Oh god back to this okay

@crunchypb8987 6 ай бұрын

Elon will get his check on the back end plus some

@lrs7777 7 ай бұрын

He’s ruined the company. He owes them money.

@Wongseifu548 7 ай бұрын

Did he though considering the road block that came out of the fossil fuel and legacy auto companies

@jordanslingluff287 7 ай бұрын

@@Wongseifu548 The other automakers had to pay Tesla $10 billion over 10 years because Pelosi threw it in a bill to help her own stock holdings. Get real.

@matt.stevick 7 ай бұрын

Owes the USA tax payers money. He (South African Nepo baby) was subsidized by our government, built during zero interest rates during Covid emergency measures, and staggering investments of billions of real people’s hard earned money based on legitimate web of lies. This makes Madoff look like a saint.

@Barb4sale 6 ай бұрын

You mean he owns himself money? You know it’s his company right 🤣

@shimmy1984 6 ай бұрын

@@Barb4sale no its a publicly traded company. He has around 20% ownership

@ryansalazar1180 7 ай бұрын

Yes!

@teslacarolina 6 ай бұрын

Tesla should move to Texas regardless of anything else. Delaware is done and as a share holder I don't care what Elson thinks, if he wants an opinion he should own shares like the rest of us.

@Barb4sale 6 ай бұрын

He does own shares like the rest of us, in fact he owns what just under 20% of all shares?? Like hu?…🤣

@doug3691 6 ай бұрын

Ideology clouded the Judge's opinion. Anyone who considers the matter agrees that CEO compensation should be Based On Performance, not just on what everyone else is making, regardless of how the company is doing. And this pay couldn't actually be spent for 5 years, so no "pump and dump schemes". And of all the highly paid CEOs out there, most having a giant "golden parachute" arrangement for time of departure, regardless of how badly things go before that point -- Elon Musk does Not have any golden parachute at Tesla, and in fact, at this point, has been working for Free for 6 years because of this nonsense. A time during which the company has grown enormously, from the verge of bankruptcy in 2018 trying to scale the production of the Model 3 to being the dominant EV maker and having last year's best-selling vehicle globally, the Model Y. Elon has earned his pay and shareholders should unanimously vote that he get it. Again.

@SerenitySilversmith 6 ай бұрын

right hmmmm wicked

@TerriAnnNiemeier-dy3no 7 ай бұрын

Elin Musk, surprise we need an Handicap accessible EV, the walker n wheelchairs ? ? Dont fit

@SerenitySilversmith 6 ай бұрын

Spy

@solar2k6 6 ай бұрын

Give him the money or Tesla is done. It’s simple lol

@wwrussell180 6 ай бұрын

Charlie Elson is not a $TSLA shareholder. I am and have been for 11 years. I and an overwhelming majority of my fellow shareholders voted to affirm the pay package. To assume that we didn’t understand what we were doing is madness. With that stated, why does Elson’s opinion matter? He has no skin in the game. Nor does the Delaware judge, the shareholder who owned and SOLD his nine shares, or the law firm who brought the case. The firm and the judge say they are acting on the behalf of shareholders. That is B.S. They have done nothing but harm the shareholders by creating a cloud of uncertainty around the stock and Elon’s future.

@richarddinh7577 7 ай бұрын

Let me run Tesla, I only take 1 Million dollar salary. 😀

@SerenitySilversmith 6 ай бұрын

❤

@Mr-Wallstr. 6 ай бұрын

Give him the money... wtf

@Hinodei 6 ай бұрын

Dont give him the money wtf.

@Mrgaunt1 6 ай бұрын

@@Hinodei Agreed. wtf

@markthomas7279 6 ай бұрын

@@Hinodeiyou mean welch on the deal of SIX years ago??? Dishonourable!!!

@NonnaVassilieva 7 ай бұрын

Soon there will be clothes that will be controlled from your phone. ❤

@FourComma-Inc. 7 ай бұрын

As any employee who's overwork, overstress, being pushed out, getting yelled at, do this do that, dealing with rude customers, and yet just go our there and work hard kick a%%. We all can take it. So "Just pay me right" shareholders should do what's right. Elon, give everything to tesla. He earned. ☺️

@Barb4sale 6 ай бұрын

Seems like you are very fed up with being an employee. Maybe you should start your own company like Elon did 🤣