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Vanguard votes “yes” on Elon’s pay package
(lemmy.world)
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this post was submitted on 17 Jun 2024
55 points (95.1% liked)
Enough Musk Spam
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Lmao what the fuck? That’s an objectively stupid and unprofitable move, even in a purely capitalistic sense. No sane stockholder should vote to hand any one person that amount of money.
I've read plausible explanations that when your company is a meme stock, you need the thing that makes it a meme to stay around lest the price fall to reasonable levels dictated by market demand.
In other words they gotta give him the money or else the fanbois will stop pumping up the price.
Pretty much:
IIRC most of the proxy voting firms like Glass Lewis and ISS tell the ETF types to vote in favor of mgmt. Because reasons, apparently