Elon Musk Is Mad About His Paycheck. A judge struck down Musk’s $55.8 billion pay package at Tesla. Musk had a temper tantrum, suggesting he may move Tesla’s incorporation from Delaware to Texas. The billionaire joins the 89% of Americans who are dissatisfied with their compensation.

by mafco

15 comments

  1. So hard not to hate him. What was he being asked to settle for? A measly 40-45B? Wild stuff

  2. Remember when everyone was crying about who killed the electric car? You may not love Elon, but his impacts on humanity are important. He’s also creating jobs and tons of opportunity. He’s building something and the government is trying to suckle his tit. I know there’s hypocrisy in my message, but it just amazes me how someone can have endless hit pieces because of his political opinions and overall attitude. The positive aspects are completely ignored.

  4. I think it’s hilarious how close that pay package is to what he paid for twitter. Certainly not a coincidence.

  6. Poor guy is living paycheck to paycheck. Have you seen the out-of-control costs of spaceships and social media companies lately? And to add insult to injury his crypto ‘investments’ are down. Won’t someone think of the billionaires in this economy?

  7. More on this subject from other reputable sources:

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    – Associated Press (A-): [Elon Musk cannot keep Tesla pay package worth more than $55 billion](https://apnews.com/article/elon-musk-tesla-compensation-pay-shareholders-e75687178d1175fba36ca55bd9c4c805?amp;utm_campaign=TrueAnthem&utm_medium=AP&utm_source=Twitter&taid=65b976d6779583000152a238)
    – BBC Online (A-): [Elon Musk: Judge blocks ‘unfathomable’ $56bn Tesla pay deal](https://www.bbc.com/news/business-68150306?at_bbc_team=editorial&at_campaign=Social_Flow&at_campaign_type=owned&at_format=link&at_link_id=500A2FD6-BFCC-11EE-AD3E-B4B2D0B4AF07&at_link_origin=BBCWorld&at_link_type=web_link&at_medium=social&at_ptr_name=)
    – Reuters (A): [Elon Musk tops list of largest US corporate pay packages](https://www.reuters.com/business/elon-musk-tops-list-largest-us-corporate-pay-packages-2024-01-30/)
    – New York Times (B+): [Elon Musk’s Tesla Pay Package Is Voided by Judge](https://www.nytimes.com/2024/01/30/business/elon-musk-tesla-pay-package.html)

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  8. At the same time,EU unlock €50bn support package for Ukraine

  9. Main issue cited here is that a public company’s board did not negotiate in good faith when this deal was made. He basically came in and said “I want xyz stock in 5 years if I hit these milestones” and they said “sure”. If you or I negotiate at a job, they might come back with “how about 50% of xyz” and have a back and forth. If this were a private company, this presumably wouldn’t be as big a deal, but it being a public company, it’s the fiduciary responsibility of the board to negotiate.

  10. Awwwww. He won’t move his company to TX. Delaware’s Court of Chancery is considered the nations best and most business friendly court systems. His lawyers, if he listens to them, will advise to keep it right there in Delaware.

  12. Getting smacked down in _Delaware_ is hard. You must’ve really been doing shady dealings with the board.

  13. LOL, why the hate on Elon. This genius has created so many jobs and brought society forward through his leadership. Envy? If you are writing a hate comment on reddit against Elon I doubt you have an education. I doubt that you have achieved anything of significance in your life.

  14. Yeah so Jeff Bezos wife got $38 billion in the divorce and Elon drove Teslas value from $60 billion at the time of the compensation package agreement to over $600 billion and he gets nothing, nada, ziltch. Not even a pay check for that entire time period

    Elon also paid over $11 billion in personal income taxes. The highest tax ever paid in history by any person to any government.

    But some idiot judge just evaporates $55 billion in value over a complaint from a guy with only 9 shares. The guy with only 9 shares gained money in his shares and did not loose a dime.

    “According to the divorce filings Jeff Bezos will keep 75% of the former couple’s Amazon stock and control 100% of the voting rights. He also retained all the interest in The Washington Post and Blue Origin. Mackenzie Bezos was awarded 25% of their Amazon shares valued at over 38 billion dollars.”

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