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After mass layoffs, Tesla asks again to approve Elon Musk’s $56 billion pay package
(www.fastcompany.com)
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this post was submitted on 17 Apr 2024
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As shitty as that is, the practical reality in that board room is that headcount is not an indicator of profit or Elons contribution to Tesla.
Sure, Ok. What does Elon bring to the table? Is it even possible for him to produce something worth $56 million for Tesla? Each of those employees was producing something for the company, something more valuable than their respective salaries. They were fired to improve the expense side of a balance sheet. How many of them would still be employed if they cut the $56 million payout to Elon? What would the company lose if Elon did not get paid? What would Elon lose if he didn't get paid? Hundreds of people loat their jobs, possibly their homes, maybe even died because they were fired.
Billion. That's $56 billion he wants. Oof.
Oof, indeed.
I guess it never hurts to ask. If they fire him, the stock price drops to a somewhat realistic value and everyone loses their money.
At this point, the stock might go up. Elon’s reputation is probably negative now.
I don't know about now, but at one point, Tesla was worth more than all other car companies combined. Musk has created that stock price because big investors know he will do almost anything, including lying, swatting the families of whistle blowers, committing securities fraud with very little consequence, or sacrificing worker safety, to keep that price high.
If Musk leaves, there probably isn't someone who will replace him that (1) has no morality or that is not afraid of getting caught or (2) is willing to go to great lengths to avoid any consequences of their actions.
I imagine the stock plummets if he leaves.
Just bear in mind that all these shady practices might have a short-term positive effect on the internal cost matrix but at the same time a lasting negative effect on the external reputation / revenue. I recently read a lot of posts in EV forums where potential buyers bring up Musk as a major factor not to buy a Tesla.
For me personally, the cars as well as the stock would be far more interesting without that manchild of a CEO.
There are two reasons why I do not buy Tesla. 1) Elon musk. 2) absence of CarPlay. If Elon is gone, there is no reason(1), and I am sure CarPlay will be implemented quite soon after that.
what, again?