Tesla Board Chairperson Robyn Denholm urged shareholders to re-approve CEO Elon Musk’s $46 billion pay package this week, saying the vote is “not about the money” while suggesting that Musk could leave Tesla or devote less time to the company if he isn’t properly compensated.
I remember when Bill Gates was the richest person on the planet with $45 billion total and it was covered in all the news. Things have gone more out of control than anyone could’ve imagined.
I can see! Man could you imagine spending a full twenty hours a week socializing with your peers, traveling, or (gasp) even exercising!? Why, I’d barely be able to hold it together for my daily hour long “Business meal”!
God knows I’d never be able to soldier through like Musk, constantly promising things like “Mars colony in two years” every year (among other things)while still having the time to spend hours posting “!!” “Concerning” or “XD XD XD” until 3 am on Twitter. Why I probably wouldn’t even have the time to signal boost white supremacists and post dog whistles about we need more babies to stave off “the great replacement”.
My money out on a major state banning the cyber truck after it Julians a pedestrian.
I know that a normal car with sharp protruding bodywork/rust holes, wouldn’t pass the safety inspection in at least the 2 New England states I’ve owned cars in.
I could see CA and the rest of the west coast banning their sales first, or requiring so much rework that they aren’t viable cars there.
The chair ought to be questioning whether the company should continue to employ someone who needs that much “motivation”, not urging shareholders to give it to him.
It’s funny that he’s asking for what amounts to an undo button for this colossal mistake he made in buying Twitter.
“Please give me exactly enough cash to bail myself out of all this Saudi debt that I took on when I memed myself into a legal requirement to acquire Twitter”
I hope this gets him booted from Tesla. It’s an open secret that he doesn’t run the show anyway, he just has enough power to force them to develop boondoggles like the Cybertruck.
Grab 5 of the top engineers, sales people, and marketing at the company, double their pay, and grant them a $1,000,000,000 bonus in 5 years time if they beat certain performance metrics. Have them sit on a board as coCEOs and watch true motivation. Kick out the guy that’s demanding 3 times your annual income as “motivational” compensation.
I’ll happily be their new CEO for a mere half a billion. I will be intensely motivated as such.
Seriously though, how can you pay a CEO this much money and actually believe that’s how much value you’re getting? Absolutely ridiculous. I imagine it’s a revolving door system where you and your buddies always vote each other up into bigger compensation packages.