It comes just days after Musk announced plans to cut more than 10% of its global workforce.
In a memo issued to staff Musk said there was nothing he hated more, “but it must be done”.
I am speechless, are his employees and shareholders buying this ****?
No, most shareholder don’t have voice in big corp. Only a handful of shareholder who invest ton of cash can speak
I’ve voted in quite a few board elections as a retail investor.
Employees on the other hand …
Unless you have to mention that you’re a significant shareholder when making trades of the stocks, you have zero influence on what the company is doing.
your votes don’t make any impact or just to look good on paper work (that they actually let retail investor vote).
There is, to my knowledge, not a single public company out there where retail investor votes outweigh the sum total of corporate/rich people investment. There are some rare outliers where retail investors hold as much or more weight than any individual company invested but as soon as you even just add 2nd place on the corporate investment ladder that sliver of relevance fades away again.
Not to mention getting a few million retail investors to pull in the same direction is a lot harder than getting 6 corporations to agree on the same matter.
Most of TSLA is held by retail. Institutional investors are around 13%, Elon is around the same. (From memory)
Elon said he and his brother will abstain from the vote. They’re also going to spend millions to influence the vote.
It’d be pretty stupid for the shareholders to approve either. They also want to move the incorporation from Delaware to Texas, because apparently Delaware isn’t corporation friendly enough.
It’ll be interesting to see whether common sense or propaganda is more effective on TSLA retail shareholders.
Board chair Robyn Denholm wrote in a letter included in the regulatory filing: “Elon has not been paid for any of his work for Tesla for the past six years… That strikes us, and the many stockholders from whom we already have heard, as fundamentally unfair.”
Musk’s compensation for 2023 was $0, the filing showed, as the billionaire does not take a salary from the company and is compensated through stock options.
it’s so unfair that elon hasnt gotten a single pay check and has instead had to settle for making billions off of his stock options. think of all the mega yachts and social media companies he could’ve bought if only he had been paid a salary.
What bullshit it is to throw stock at someone that ends up being worth billions and turn around and say they never got paid.
He received compensation via stocks in lieu of cash. It’s business pay and compensation 101…this is how you get can get paid.
She’s saying “he got paid, just not cash pay, so we didn’t really pay him, and now we want to pay him again differently.”
I guess we are going to find out exactly how stupid the remaining Teslas stockholders are.
Well I own it through my SP500 index fund. I’m trying to determine how to best contact the fund managers. I have a well thought out and reasoned rationale why Elon shouldn’t remain CEO and I will be heard:
- Repeatedly failed to deliver products on time
- Product offerings are insufficient in terms of engineering for cost
- Design process leaves gaps in engineering causing greater issues
- Product offerings are uninspired and boring
- Valuations are driven by CEO repeatedly trying to scam investors for developments that are over budget and over schedule
- Numerous, numerous Conflicts of Interests by CEO
- Concerns about the CEO’s physical and mental health
- Concerns about the CEO’s national security obligations
- CEO’s pay is ridiculously beyond the norm for his obligations and the rest of the sector
- CEO has not seen any stock growth in the past year
Make sure to tip your CEO
*tip over
*guillotine
*Elon Musk seeks to award Elon Musk $56 billion
Conveniently covering the amount of principal + interest on his purchase of his latest nazi propaganda outlet.
You have to hand it to him. He’s managed to figure out how to milk US government subsidies whilst being a royal cunt.
Figured it out? All you need is money. You hire a lobbyist and that’s it, it’s not a genius move, the system is just designed for people like him
