Summary via ChatGPT

A Delaware judge invalidated Elon Musk’s $56 billion Tesla pay package for a second time, citing undue influence and unfair terms set by Musk. Despite shareholder approval earlier this year, the court ruled the process failed to address governance concerns and transparency. The judge emphasized the board’s failure to prove the compensation plan’s fairness, suggesting alternative, reasonable payment options were possible. Tesla may appeal the decision or propose a new compensation plan.

    • @[email protected]
      link
      fedilink
      571 month ago

      Risk vs Reward.

      A relatively small cost towards legal fees has a decent chance to yield a large payoff.

      Musk is a warped gollum-man, but not an idiot by any means.

      • sepi
        link
        fedilink
        English
        611 month ago

        The man is one of the greatest idiots of this generation. There’s just a bunch of really dumb impressionable people falling for his lies. Doesn’t make him smart.

        • @Vikthor
          link
          11 month ago

          The man is was one of the greatest idiots of this generation.

          FTFY

            • @Vikthor
              link
              101 month ago

              I should be in the bed already, I misread that. I thought he wrote Musk is one of the greatest idols of this generation.

            • @[email protected]
              link
              fedilink
              4
              edit-2
              1 month ago

              I think the implication is he was the greatest idiot until all the other Impressionable idiots outdid him.

      • 100_kg_90_de_belin
        link
        fedilink
        101 month ago

        He’s a sociopath with absolutely no moral compass. This may have made him a great CEO, but it doesn’t mean he’s smart.

    • @danc4498
      link
      English
      211 month ago

      Different packages were struck down I think. The first he appealed and failed. So they approved another package this year and this is the result.

      Imagine what $51 billion would do for the average Tesla employee if it were split up evenly amongst all employees. But yes, give this one guy more money than he can ever use in infinite lifetimes.

      • @[email protected]
        link
        fedilink
        English
        131 month ago

        the 56b divvied up would be about 400k per employee (based on 2023 headcount from wiki). i think he’s fired more than hired this year, so it’d be a bit more than that.

        • @danc4498
          link
          English
          141 month ago

          Life changing amounts of money. Instead he’s getting bragging rights to the 5 other people in the world like him.

        • @Maggoty
          link
          61 month ago

          127,000 USD.

          Capitalism is a dream because you aren’t the capitalist.

          • @Aceticon
            link
            51 month ago

            It’s a dream because you have to be asleep to believe it.

            • @Maggoty
              link
              31 month ago

              I didn’t think he’d mind the paraphrase. It’s another idea Carlin talked about in his shows.

              • @Aceticon
                link
                2
                edit-2
                1 month ago

                Unlike the politicians and fatcats so loudly celebrated when they lived and so mourned when they died, by the Media, George Carlin was one of the truly great people of the second half of the XX century.

      • @[email protected]
        link
        fedilink
        English
        71 month ago

        We just need a general rule: no company may offer more in compensation to any person than one hundred times the value the company paid in compensation to its lowest paid worker.

        Add in words and details to make sure there aren’t any loopholes, of course, and the problem will be largely solved across the board.

        • @danc4498
          link
          English
          61 month ago

          I think even that would have issues. The fix is easy. Tax the holy fuck out of any earnings over $10 million. You can take that payment away from your company, but it will do very little to benefit you.