Re:Elon Musk's $56B Tesla compensation voided by judge
by what3ver on Tuesday January 30, 2024 @10:34PM
(#39199510)
The judge said "no":
"A Delaware judge on Tuesday voided the $56 billion pay package of Tesla CEO Elon Musk, ruling that the company's board of directors failed to prove "that the compensation plan was fair" or show much evidence that they had even negotiated with him".
And , to be objective :
"Tesla ended Q4 2023 with a net income of $7.9 billion and the full year with $15 billion in profits" , that money is more 3 years of profit, meaning that the company , after that compensation, must wait almost 4 years, if the trend remains that one, to generate profit !
So who can say the judge was unfair ???
Other possible repercussion, Tesla lack of funds for R&D in a sector where the competitors became very aggressive.
"A Delaware judge on Tuesday voided the $56 billion pay package of Tesla CEO Elon Musk, ruling that the company's board of directors failed to prove "that the compensation plan was fair" or show much evidence that they had even negotiated with him".
And , to be objective :
"Tesla ended Q4 2023 with a net income of $7.9 billion and the full year with $15 billion in profits" , that money is more 3 years of profit, meaning that the company , after that compensation, must wait almost 4 years, if the trend remains that one, to generate profit !
So who can say the judge was unfair ???
Other possible repercussion, Tesla lack of funds for R&D in a sector where the competitors became very aggressive.