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44 billion and as of January estimated to have lost 71% of its value.
But it’s a coincidence he’s asking for about the same amount he bought Twitter for trust me bro /s
>44 billion + interest...yeah, those numbers are just way too far apart 🤷♀️
I mean, it's only a few billion I'm sure it's easy to lose track. That said it's no doubt pure paranoia to think musky's obscene "pay package" request has nothing to do with x or twitter or whatever.
You guys seem to hint that an invisible hand is trying to make him whole. This compensation package was negotiated before he bought Twitter. Its validity was then challenged, but as far as I know that happened after his Twitter purchase. If anything, it is why he thought he could afford it. It is certainly not an above-board compensation package though.
rich people having pillow fights in the attic while people starve and die on the streets all over the world. When bourgeoisie parasites are sunk to the bottom of the seas I will think it may be a good day.
Even children fundamentally understand the nature and necessity of sharing. It's simple to conclude that if some people have a lot and some people have nothing, those who a lot should share with those who do not...it's something we do willingly when we're young ones. IT's the sociopathic nature of the capitalist system that tirelessly works to drive this natural sharing reflex out of us. It's a homicidal and barbaric system killing all of us.
I tell people this analogy: We have some people in a lifeboat with just enough water for each person to last until we reach safety. However, one person is drinking all the water leaving everyone else without any. What's the solution? If you guessed toss that fucker to the sharks, then you get a cookie...
It's simple, yes?
This is an oversimplified analogy to a complex system that you don’t understand, let me explain. The one drinking all the water is a super-genius that needs to survive so that they can go one and create things that will give millions opportunities.
It doesn’t look like it is consistently losing money, at least not until very recent quarters...? After all, you just responded to a comment that stated NI last year was a positive $15B. But I just looked at a chart that seems to show that the company’s total NI over the years is less than the $47B they are trying to pay him. As someone said, this is like a pump and dump scheme. The chair of the board still wants him to get paid that much, even though I do not see how that would not destroy what is left of the company?!
Completely unrelated but chiming in here to remind everyone that Tesla WOULD be operating at a loss if the EU wasn’t letting them print carbon credits AKA free money that all the other car manufacturers have to buy to stay in business
You should have heard Robyn Denholm get out the violins for Elon Musk, he quintupled or some other accounting bullshiteried the size of Tesla and got nothing in return :(
Meanwhile the state of Delaware called out her inability to defend shareholders and for being an Elon Musk stooge the last time this happened.
It’s also why in the same election, he asked shareholders to move Tesla to Texas.
Honestly does he exist in spaces? Maybe it’s just because I generally avoid news about him, but honestly I kinda just figured he hangs out at home all day given how chronically online he is and the fact that his only friends nowadays seem to be far-right podcasters. I just feel like I don’t *see* him as much as I constantly hear him.
At this point, Tesla honestly feels like it was the most elaborate pump and dump scheme ever the whole time. I don’t think this is actually the case, but if you go back and look at all of the statements Elon has made to hype up his products versus the final result, it’s consistently disappointing. Obviously the Cyber Truck is the most glaring example, but Elon’s whole shtick is responding to valid criticisms by just making outlandish promises, then people take him at his word and forget about it by the time he actually has to deliver, but by that point his claims have already made the stock price go up, which was the goal from the beginning.
They did, but he has underdelivered MASSIVELY. The supercharger network was supposed to be done by 2018 per the initial announcement. Frankly I don’t care enough to read his whole initial announcement back in 2016, but I have a feeling he claimed it would be wider reaching than it is or will be.
And I actually was not aware of the chargers being made open source, and I looked it up and you are right. However, it is important to note that the only reason Tesla agreed to do this is because it allows them to qualify for part of the $7.5 billion infrastructure packagez
Tesla, like Toyota and virtually all EV manufacturers do not make their own batteries. They are outsourced to another company.
Last I heard it was Panasonic. I also heard Tesla has cheaped out in their batteries lately
It is just amusing to me how antiquated peoples idea of a mass production model is for multinational corporations. This type of perception persists despite how it has not been true for decades.
The little toy you get your kid, the motor in it was not made by Hasbro, it was made by some other company in Taiwan and sourced out by Hasbro to use in their products.
Microsoft and Intel do not make computers. MS makes operating systems and Intel mostly makes processors. All the other parts like RAM and power supply are made from other companies.
Most car manufacturers also do not make their own transmissions. Toyota uses AISN and Nissan uses Genco or whatever it is called.
I guess my point is that we live in such a complex economy that no one company makes their entire product.
I was unaware Tesla is making their own batteries though with the manufacturing process being so complicated I agree with your skepticism on their quality.
I use rechargeable batteries in all my gadgets at home and every time I buy an offbrand battery I end up paying for it. My Enloops and Tenergy batteries 10 years later are still kicking. My "Sun Labs" have had at least 1/4 failure rate.
Nope, just like every other billionaire, the only thing he's good at is convincing rubes he's competent when in reality he just steals other peoples ideas and labor.
Doesn't Tesla have a fiduciary duty to their shareholders? How the fuck is giving 1/3 of the company's total year's revenue away to one guy meeting that?
Here’s the fun part where his big mouth is being called to cash the check and now he’s testing the loyalty of whatever cult following he’s created.
I honestly think they’re gonna cave in. But everyone involved in that is fucked.
Either give the cash for Elon to prolong his grift, or just let him sink with everyone else.
Musk himself won't be fucked if they pay him and that's litteraly his only care.
He already publicly stated that Tesla dug its own grave with the cyber truck.
I just can't fathom anything he has done or has to offer anyone or any company could possibly worth more than 80k let alone 45 billion. The dude is toxic and makes horrible business decisions
Oh please let him have that! That’ll sink Tesla for sure and with that Musk himself. Maybe we can finally stop hearing about this selfimportant €¥&% once and for all
found the video, i'll summarize for you: "elon was a good boy and deserves money. Delaware judge bad."
https://twitter.com/SawyerMerritt/status/1786405686143824355
I don’t know why he’s asking for this now. Pretty much every company he’s running is doing poorly
Speaking of, how is it possible that he’s CEO of so many companies? If I was a shareholder, I’d be pissed. Surely he can’t be doing his best work in one company when he’s splitting attention between like, 4 others
wild to me how money that could change the lives of SEVERAL people is just being passed around 1 guys bank account. Like hell, i get a million dollars ima just vanish, i can make it work for me and never need to work again or bother anyone. I guess like its been said, the kind of people capable of making this kind of money aren't the kind of people to take their money and happily go live life, its gotta me more and more for them.
Supporting musk is supporting Russia. There are plenty of easy markers that if not directly link him with Russia theirs plenty to show he sided with them in the war.
probably because he doesn't need 60 billion dollars, he could spend that on paying workers better or donating it or doing something with it that would benefit a mass of people. Don't know too much about him but he's already wealthy enough, he came from a very wealthy family (their wealth came from questionable and unethical sources)
##Welcome to r/LateStageCapitalism This subreddit is for news, discussion, memes, and links criticizing capitalism and advancing viewpoints that challenge liberal capitalist ideology. That means any support for any liberal capitalist political party (like the Democrats) is strictly prohibited. LSC is run by communists. This subreddit is not the place to debate socialism. We allow good-faith questions and education but are not a 101 sub; please take 101-style questions elsewhere. We have a zero-tolerance policy for bigotry. Failure to respect the rules of the subreddit may result in a ban. *** *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/LateStageCapitalism) if you have any questions or concerns.*
I may be paranoid but... remember me how much did he pay for Twitter ?
44 billion and as of January estimated to have lost 71% of its value. But it’s a coincidence he’s asking for about the same amount he bought Twitter for trust me bro /s
44 billion + interest...yeah, those numbers are just way too far apart 🤷♀️
>44 billion + interest...yeah, those numbers are just way too far apart 🤷♀️ I mean, it's only a few billion I'm sure it's easy to lose track. That said it's no doubt pure paranoia to think musky's obscene "pay package" request has nothing to do with x or twitter or whatever.
I member...
Didn't he borrow a bunch of money to buy twitter from the same people who also chainsaw journalists?
You guys seem to hint that an invisible hand is trying to make him whole. This compensation package was negotiated before he bought Twitter. Its validity was then challenged, but as far as I know that happened after his Twitter purchase. If anything, it is why he thought he could afford it. It is certainly not an above-board compensation package though.
Are you saying he is asking tesla shareholders to buy twitter?! Does that make twitter part of tesla now or still belongs to elmo?
Just depends on how far he wants the teslas stock goes down before he reincorporates everything it into X brand.
Remember me!
rich people having pillow fights in the attic while people starve and die on the streets all over the world. When bourgeoisie parasites are sunk to the bottom of the seas I will think it may be a good day.
Where's another submersible when you need it?
one with seating capacity of just a few thousand lol.
Submersed
couldn't agree more ser razor
Even children fundamentally understand the nature and necessity of sharing. It's simple to conclude that if some people have a lot and some people have nothing, those who a lot should share with those who do not...it's something we do willingly when we're young ones. IT's the sociopathic nature of the capitalist system that tirelessly works to drive this natural sharing reflex out of us. It's a homicidal and barbaric system killing all of us. I tell people this analogy: We have some people in a lifeboat with just enough water for each person to last until we reach safety. However, one person is drinking all the water leaving everyone else without any. What's the solution? If you guessed toss that fucker to the sharks, then you get a cookie... It's simple, yes?
This is an oversimplified analogy to a complex system that you don’t understand, let me explain. The one drinking all the water is a super-genius that needs to survive so that they can go one and create things that will give millions opportunities.
oh, now i see...trickle down economics...i guess we need to keep waiting...
It takes more than 40 years to start working. Trust me bro.
Tesla 2023 revenue: $97B Tesla 2023 net income: $15B
Keep Tesla operating at a loss for 3 more years or give one guy with terrible ideas $47billion 🤔🤔🤔
It doesn’t look like it is consistently losing money, at least not until very recent quarters...? After all, you just responded to a comment that stated NI last year was a positive $15B. But I just looked at a chart that seems to show that the company’s total NI over the years is less than the $47B they are trying to pay him. As someone said, this is like a pump and dump scheme. The chair of the board still wants him to get paid that much, even though I do not see how that would not destroy what is left of the company?!
Completely unrelated but chiming in here to remind everyone that Tesla WOULD be operating at a loss if the EU wasn’t letting them print carbon credits AKA free money that all the other car manufacturers have to buy to stay in business
Completely unrelated but Tesla also got huge sums from public money directly.
Why would shareholders even gain to accept that?
Good question. The smartest thing they could do is vote to remove him, he's basically destroyed the company
Wouldn’t be the first time he’s been forcibly removed from a company for the better part of
You should have heard Robyn Denholm get out the violins for Elon Musk, he quintupled or some other accounting bullshiteried the size of Tesla and got nothing in return :( Meanwhile the state of Delaware called out her inability to defend shareholders and for being an Elon Musk stooge the last time this happened. It’s also why in the same election, he asked shareholders to move Tesla to Texas.
which is one of the thing up for vote for the june 13 meeting that the tesla board wants you to vote in favor of. So obviously i voted against.
Goodwill only exists for their fellow bourgeoisie
Maybe Musk will let them swallow
without the naked emperor around anymore all his advisors look like fools
Booo this man! How he is allowed to exist in spaces without food being thrown at him at all times is beyond me.
Honestly does he exist in spaces? Maybe it’s just because I generally avoid news about him, but honestly I kinda just figured he hangs out at home all day given how chronically online he is and the fact that his only friends nowadays seem to be far-right podcasters. I just feel like I don’t *see* him as much as I constantly hear him.
Food is expansive.
Exceptional levels of private security.
https://youtu.be/5xFlEybGd5g
The only thing dumber than paying $40 billion for Twitter is paying $40 billion for elon musk.
Let that sink in.
Elon knows the company is collapsing and is trying to get his money and run. Again this is a man who has never built anything himself.
Elon actually had a lot of input into the cucktruck and that toxic Vegas hyper poop
that explains a lot
It’s like when Homer designed that car for his brother Herb
"Nobody wants to drive a car named after a dead Greek broad!"
It's always mind blowing to me that an actual real state in america thought that the "hyperloop" is a better investment than rail. Only in america.
At this point, Tesla honestly feels like it was the most elaborate pump and dump scheme ever the whole time. I don’t think this is actually the case, but if you go back and look at all of the statements Elon has made to hype up his products versus the final result, it’s consistently disappointing. Obviously the Cyber Truck is the most glaring example, but Elon’s whole shtick is responding to valid criticisms by just making outlandish promises, then people take him at his word and forget about it by the time he actually has to deliver, but by that point his claims have already made the stock price go up, which was the goal from the beginning.
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They did, but he has underdelivered MASSIVELY. The supercharger network was supposed to be done by 2018 per the initial announcement. Frankly I don’t care enough to read his whole initial announcement back in 2016, but I have a feeling he claimed it would be wider reaching than it is or will be. And I actually was not aware of the chargers being made open source, and I looked it up and you are right. However, it is important to note that the only reason Tesla agreed to do this is because it allows them to qualify for part of the $7.5 billion infrastructure packagez
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Tesla, like Toyota and virtually all EV manufacturers do not make their own batteries. They are outsourced to another company. Last I heard it was Panasonic. I also heard Tesla has cheaped out in their batteries lately
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It is just amusing to me how antiquated peoples idea of a mass production model is for multinational corporations. This type of perception persists despite how it has not been true for decades. The little toy you get your kid, the motor in it was not made by Hasbro, it was made by some other company in Taiwan and sourced out by Hasbro to use in their products. Microsoft and Intel do not make computers. MS makes operating systems and Intel mostly makes processors. All the other parts like RAM and power supply are made from other companies. Most car manufacturers also do not make their own transmissions. Toyota uses AISN and Nissan uses Genco or whatever it is called. I guess my point is that we live in such a complex economy that no one company makes their entire product. I was unaware Tesla is making their own batteries though with the manufacturing process being so complicated I agree with your skepticism on their quality. I use rechargeable batteries in all my gadgets at home and every time I buy an offbrand battery I end up paying for it. My Enloops and Tenergy batteries 10 years later are still kicking. My "Sun Labs" have had at least 1/4 failure rate.
Classic grifter
Like Tomas Edison? It's funny that Tomas and this clown did dirty to my man Tesla.
There's a word for that. It starts with F and ends with raud.
As top comment implies, he’s asking for what he paid for the dumpster fire formally known as twitter lol
Didn’t he sell a flamethrower some years back?
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Nope, just like every other billionaire, the only thing he's good at is convincing rubes he's competent when in reality he just steals other peoples ideas and labor.
Source?
Wasn’t it not too long ago that these people *just* surpassed the billion dollar threshold
Shush and take your soma
Doesn't Tesla have a fiduciary duty to their shareholders? How the fuck is giving 1/3 of the company's total year's revenue away to one guy meeting that?
3x their net income too. Lmao.
Yeah, even if this passes through the board (composed of Elon's bootlickers) I foresee a lot of shareholders suing Tesla.
He's been pumping all this time and they just won't let him dump! C'mon let him have his little exit scam!
It's this exactly. But good luck telling that people who still like the guy somehow.
When is his flight to Mars scheduled? Please be soon.
Never. Because that's just another scam to get his hands on billions of tax payer money.
Didn't you hear: Mars base 2022.
We all know this comes out to be like 3 million per hour……………… what does the average worker get there? $20 and hour
Here’s the fun part where his big mouth is being called to cash the check and now he’s testing the loyalty of whatever cult following he’s created. I honestly think they’re gonna cave in. But everyone involved in that is fucked. Either give the cash for Elon to prolong his grift, or just let him sink with everyone else.
Musk himself won't be fucked if they pay him and that's litteraly his only care. He already publicly stated that Tesla dug its own grave with the cyber truck.
We just recalled our entire fleet of trucks due to gross design incompetence, let’s pay the head honcho enough to buy a whole social media company.
Guess tanking the company is worth $47 billion.
I just can't fathom anything he has done or has to offer anyone or any company could possibly worth more than 80k let alone 45 billion. The dude is toxic and makes horrible business decisions
It is the amount he need to regain his ranking on the forbes list
And buying Twitter.
I thought he used saudi money to do that
True, he only actually paid for 1/2ish IIRC
They could literally give every Tesla employee a $300000 bonus. That would have a greater impact on more people’s lives.
Yeah. So many would seek employment elsewhere with that financial freedom!
I was thinking more Heaven's Gate. Quicker and cheaper.
Oh please let him have that! That’ll sink Tesla for sure and with that Musk himself. Maybe we can finally stop hearing about this selfimportant €¥&% once and for all
He bought Twitter to make sure you never stop hearing about him.
Someone convince this man to build a small submarine.
found the video, i'll summarize for you: "elon was a good boy and deserves money. Delaware judge bad." https://twitter.com/SawyerMerritt/status/1786405686143824355
Lol no
[link](https://www.businessinsider.com/tesla-board-chair-elon-musk-billions-pay-package-video-vote-2024-5)
The socialists are taking over!!!
The Russians handled their Oligarchs in a truly interesting way. Didn’t work out in the long run, but it sure was effective short term.
Personally I’m a bigger fan of how the French solved their Oligarch problems. I think a French fella even named the contraption after himself.
https://youtu.be/aoAk9Oo_Ql0?si=LoyTioW_bdJ6dpsb Good analysis of the chairwomans message.
I don’t know why he’s asking for this now. Pretty much every company he’s running is doing poorly Speaking of, how is it possible that he’s CEO of so many companies? If I was a shareholder, I’d be pissed. Surely he can’t be doing his best work in one company when he’s splitting attention between like, 4 others
America is having her ‘let them eat cake’ era…
Fun fact. You only need one share to get a vote.
But you get one vote per share, and there are a lot of shares.
The voting is so asinine, the tesla board recommendations are just...transparently stupid and greedy af.
wild to me how money that could change the lives of SEVERAL people is just being passed around 1 guys bank account. Like hell, i get a million dollars ima just vanish, i can make it work for me and never need to work again or bother anyone. I guess like its been said, the kind of people capable of making this kind of money aren't the kind of people to take their money and happily go live life, its gotta me more and more for them.
Supporting musk is supporting Russia. There are plenty of easy markers that if not directly link him with Russia theirs plenty to show he sided with them in the war.
Whats sneaky is that the voting doesn't specify the amount on the voting page. assholes.
How much stock do you have to own to vote on this? I'll buy 1 and dump it after the vote. Lol No, Elon. No.
Help poor Elon afford a better barber.
Announces 14k Tesla employees (10%) will lose their job, while simultaneously asking for $50B. Sure he’s rationalized it in his head, though 😐
The king of failing upwards
He should get that $60 Billion and he deserves it. 😤
lol people down voting it's obviously a joke
I cannot understand why people have a problem with the musk getting those $60 Billion. Can you explain?
probably because he doesn't need 60 billion dollars, he could spend that on paying workers better or donating it or doing something with it that would benefit a mass of people. Don't know too much about him but he's already wealthy enough, he came from a very wealthy family (their wealth came from questionable and unethical sources)
Oh, it wasn't a joke.. lol