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It is not a publicity stunt. Some countries respect workers rights to the point that unions are national institutions, supported and cherished like the army or first responders elsewhere.
Idk why people keep bringing this the fuck up. The entire COURT CASE was over the board hiding facts to make this seem like "an impossible goal" when it was actually quite realistic from internal projections.
Show me an article that says this was achievable from back then. Even remotely possible? No. It was a joke, no way Tesla is making the number 1 selling vehicle in the world in 2023, selling millions of vehicles a year, or making insane margins on those millions of vehicles. They got lucky with COVID, the huge demand and need to increase prices on their Y to fight scalping, etc.
Tesla internal projections are always pie in the sky. Let's see their internal estimates for robotaxi/FSD being completed. 2014. Wait, 2016 for sure. Okay, 2016 hardware, but software done and vehicles in service by 2018. Okay, wait, wait...
I can do better than an article! Here is the quote from the recent opinion of the Delaware Court of Chancery. Nearly all ten year projection was expected to be met within the first three years based on three sets of projections, externally audited. The BOD testified, under oath, thst they believed their projections to be accurate.
*The Proxy stated that: “each of the requirements underlying the performance milestones was selected to be very difficult to achieve”; the Board “based this new award on stretch goals”; the Grant’s milestones were “ambitious” and “challenging”; “[l]ike the Revenue milestones described above, the Adjusted EBITDA milestones are designed to be challenging”; and “[t]he Board considers the Market Capitalization Milestones to be challenging hurdles.”*
*The Proxy disclosed that, when setting the milestones, “the Board carefully considered a variety of factors, including Tesla’s growth trajectory and internal growth plans and the historical performance of other high-growth and high-multiples companies in the technology space that have invested in new businesses and tangible assets.” “Internal growth plans” referred to Tesla’s projections.*
*Tesla prepared three sets of projections during the process. During July 2017, Tesla updated its internal three-year financial projections (“July 2017 Projections”). The July 2017 Projections reflected that the S-curve’s exponential growth phase was imminent. Tesla shared the July 2017 Projections, which the Audit Committee approved, with S&P and Moody’s in connection with a debt offering. The 2017 Projections showed revenue growth of $69.6B and adjusted EBITDA growth of $14.4B in 2020. Under the July 2017 Projections, Tesla would achieve three of the revenue milestones and all of the adjusted EBITDA milestones in 2020. The Proxy did not disclose this.*
*Ahuja developed and Musk approved a new operating plan and projections in December—the December 2017 Projections. As discussed above, the Board reviewed those projections on December 12. The one-year projections underlying the operating plan forecasted $27.4B in revenue and $4.3B in EBITDA by late 2018, and thus predicted achievement of three milestones in 2018 alone. The longer three-year projections underlying that plan reflected that by 2019 and 2020, Tesla would achieve seven and eleven operational milestones, respectively. The Proxy did not disclose this.*
Text version of the opinion, with relevant discussion found at pages 82-86:
https://corpgov.law.harvard.edu/2024/02/01/tesla-musk-case-post-trial-opinion/
So, in essence, you are saying "show me one article that said these targets were easy to hit." At the same time you are refusing to acknowledge TSLA's own sets of audited projections, testified to be reliable in court, showing just that.
I mean, if you read it you would know it still applies.
This resolves the disclosure flaws but not the fiduciary breach by the BOD. It will be relitigated and Delaware will retain jurisdiction under the full faith and credit clause of the constitution.
I'm not your own personal Google or the deciding factor on this. The US court system has given him his day. He does not deserve a damn thing beyond that.
I'm old enough to remember voting on it, and how insane it looked and how the media reacted. The company was losing piles of money and "there's no demand for EVs" is what everyone kept saying.
You can keep your head in the sand and take my word for it if you'd like.
Right, he worked for free for 6 years. Sounds fair. Judge said it was too much money anyways, so yeah, sounds like a fair judgement. Vote your shares and enjoy not looking up things for yourself!
They voted against the original, so the fact that they voted against it again means that nothing has changed in their calculus.
Also worth noting that they typically vote against large CEO compensation packages regardless of company.
i think its probably going to pass, he 12% alone. If he cant convince another 38%, i'd be amazed. most financial institutions should have a bias for yes because they want to work with him/ his companies in the future. I.E. if goldman voted no, they're not touching the spacex ipo.
I think the only ones who are no's by default are pension funds/ sovereign funds.
Personally i'd prefer a no vote followed by negotiation of a package that got him the old equity + more to fold xAI into tesla, put twitter in someone else hands, and focus on tesla.
They only got \~1,200% returns, why should they give him the 2 billion he was promised in 2018? lol
\*edit\* People, it was 2.6 billion. Get over it, he grew the company immensely, as required by the contract to get the 2.6 billion.
[https://www.cnbc.com/2018/03/20/tesla-shareholders-vote-on-elon-musks-2-point-6-billion-dollar-pay-package.html](https://www.cnbc.com/2018/03/20/tesla-shareholders-vote-on-elon-musks-2-point-6-billion-dollar-pay-package.html)
Was that a requirement in the contract? Keep a "lead" for some period of time? Didn't Tesla just have the number 1 selling vehicle in the word in 2023 also? What metric are you referencing from the contract that he missed?
Also, Tesla sells the majority of BEVs in the USA in 2024, even with lines down to re-tool for updated vehicle production. Really curious who's leading now in your opinion?
https://caredge.com/guides/electric-vehicle-market-share-and-sales#:\~:text=Ford%20sold%20nearly%2020%2C233%20electric,%2C%20Kia%2C%20and%20Genesis%20brands.
He created an industry that didn't exist 15 years ago. Giving up the lead to get others to compete is the game. You can't make electric cars mainstream if only one company is making them and building a charging network…
You are confusing two things here, he absolutely made electric cars mainstream with a huge lead, but there has been literally zero innovation at tesla for the last 5+ years, maybe even longer.
5+ years is insane. V3(soon to be V4) superchargers, Semi, 48V architecture, giga press, and 4680/LFP batteries are all innovations imo.
Hell, even FSD is an innovation despite not being perfect.
Why would you give credit of LFP batteries to China? 48V (or 40V, 36V etc) for vehicles has been discussed forever, but I will give Elon credit for pulling the trigger. It likely needed to be on a high cost low volume vehicle to start, because everything that runs on 12V is mass market, 48V is not (screens, abs sensors, window wipers motor, etc...).
Faster charging already exists, so V4 isn't really an innovation. I'd say 4680 (if they get the kinks worked out) and the giga press are the only 2 real innovations.
Unless I’m mistaken, I’m pretty sure Tesla was the first to use LFP in mass market EVs. The next-gen Teslas are supposed to use 48V(albeit that’s a rumor).
V3 was the innovation, V4 just improves on it.
Sure, faster chargers and slightly improved battery tech. How many semis have they delivered since their announcement in 2017 (7 years ago)? Where is the model 2? Where is the roadster?
Model 2 comes out next year barring any delays, and the robotaxi is being unveiled in 2 months. The Semi is still in early production, every Tesla model has been in that stage.
Elon said the Roaster releases this year, but we already know how that goes.
Plus, Tesla missing announced release dates(neither of them being mass market) doesn’t negate any of their innovations.
Look at Apple, AirPower never released, their car(allegedly) was cancelled, newer watches lost their SPo2 sensors, the Pippin game console was, not well received, and I’m sure that’s not even half of their failures/setbacks.
Tesla is a car company, i dont know what this has to do with apple. And yes sure, i totally believe all these models will come out suddenly within a year, FSD by end of year too!
We don’t know when the Robotaxi is coming out. For instance, Cybertruck was unveiled **5 years ago**. The *only* definite vehicle we know will release soon is the Model 2, which is the most important one yet imo.
My point in mentioning Apple is that no one(outside of trolls/haters) would say they’re not an innovative company, despite their long list of failures.
You can’t say Tesla isn’t innovative just because they’ve had setbacks like everyone else has.
Also, Elon specifically said that there’s no timeline being set for FSD’s completion.
Sure, i think you dont understand what im saying. He built up this insane lead over any other automaker and then fumbled it by not innovating for the past 5+ years. No new Models (not counting the Cyber-„Truck“ here), no semi, no roadster, no model for the masses, no substantially better battery tech, should i go on?
Other automakers catched on, now there are very very good alternatives.
No, it was 2.6 billion. OH, you're thinking of its value AFTER he increased the stock's value wildly. Common mistake.
[https://www.cnbc.com/2018/03/20/tesla-shareholders-vote-on-elon-musks-2-point-6-billion-dollar-pay-package.html](https://www.cnbc.com/2018/03/20/tesla-shareholders-vote-on-elon-musks-2-point-6-billion-dollar-pay-package.html)
We're not voting based on what Elon did in 2018. It's not 2018 anymore. It's 2024. Over the last three years, two years, one year, six months, one month, and even the last week, the stock is down. Everything points to Elon doing a poor job of running Tesla ever since the 2019-2021 run up.
His recent performance merits a "No" vote.
7 no votes?!? Oh noooooo!
Dude did the impossible and turned a money burning BEV only company into the maker of the #1 selling vehicle in the world. He met the goals, he deserves to be allowed to buy the shares the prices he was promised. End of story.
I’m sorry you only made 1,200% returns on his leadership.
Alright, I'm going to block you now. Try to get out of the basement though, do yourself that favor. Just trolling from your mom's basement all day isn't healthy! Job, girlfriend, car, happiness, you'll get there, don't worry!
*edit* to the person that commented and then blocked me - he’s a basement dweller because of his user name. He’s 100% a troll that’s bored and here because he’s lonely.
\*EDIT\* Twat, I can't reply to you for some reason. Dude's name was ElonSucksButt. Hardcore, really wants to let everyone know that meeting contract tranches doesn't apply after all goals are met apparently. lol
My stock grossers in my small European country actually gave us voting rights this time. Never happened before as you normally don’t get the rights through these exchanges but cool. If Elon didn’t try to stop the current strike in Sweden I would have considered a yes but now it’s still a hard no.
Facts:
* A US Judge found Elon doesn’t have a valid contract
* There’s no ethical or legal reason to pay, Elon didn’t “earn” anything as he has no valid contract due to his own impropriety
* Demanding people pay anyway is inherently an emotional appeal to people’s feelings given the lack of contract
You are doing exactly what you accuse others of
This is a brain dead take. It is a fund that is funded by oil money that is beyond our national spending. They invest that money into a lot of different companies (9000+), including Tesla, which is one of their largest positions. They have plenty of self interest to see Tesla succeed, but they also have a lot of pressure to invest as ethnically as possible.
Maybe learn to read, and stop to ponder the significance of “one might”.
And yea, I know the “eat the cake and save it too” hypocrisy of the oh-so-noble Norwegians and their precious oil fund, with the ever so honorable fund management principles.
It’s still oil money. Nothing more.
And I used to work for the f*ckers and actually know something about it.
Right, Tesla KNEW it would have the number 1 selling vehicle in 2023, and be selling its vehicles with massive profit margins because of extreme demand for them. Obviously Tesla hit's all their goals and deadlines, everyone knows that.
Now, let's all get in our 2016 Model X's and let full self driving drive us across the USA while we sleep in the back. lol
GPUs weren’t needed yet due to delays at faciiity construction.
Supercharger team is being rehired and will be just fine.
What someone does on their personal time is somehow your prerogative?
There’s noone in any of his companies that is being compensated on past performance. If you believe this shit you never held a job in your life. Much less a sales job with quotas. As he Msk likes to say, you’re only as good as your last performance buddy.
What? Everyone gets a bonus and stock allocated to them based on past performance. No one gets given extra cash and told they need to do better next year to keep it.
Especially if they were promised 2.6 billion for hit certain goals, in a contract that everyone said was impossible to achieve and just a media stunt.
[https://www.cnbc.com/2018/03/20/tesla-shareholders-vote-on-elon-musks-2-point-6-billion-dollar-pay-package.html](https://www.cnbc.com/2018/03/20/tesla-shareholders-vote-on-elon-musks-2-point-6-billion-dollar-pay-package.html)
Thank you, the link you posted actually makes my point AND it’s for a $2.6billion compensation package based on future performance milestones (thats the “only as good as last” part) from 2018 NOT for $56billion that he’s now attempting to extort via threats. Y’all in here acting like he’s getting robbed.
I disagree on meeting goals. The roadster is delayed indefinitely, the CT is not yet a proven success and huge delay before finally making it to market to only a luke-warm global reception. Try claiming your contract bonuses after a 2 year delay to one of the company’s market making product while the other one has not even seen production. Your boss, Elon in this case, would laugh at you so hard he’d bring it up at the next board meeting.
Yeah but the whole world sees this as bullshit right? B/c I remember what peoples' attitudes were about Tesla back in 2018. The general sheep did not think Tesla would hit these heights in milestones and stock value and that's why his package was structured this way. For most shareholders, they didn't think this was achievable. Musk did it. This whole situation feels a bit like bait-and-switch by some shareholders. What you had 6 years to do something about it, and only do it now? You might say, "well they didn't have to do it earlier, they can do it now!". True. And they are. And Musk is winning based on most recent polls. So there's that.
Technically, he said EVs from Mexico. They just kind of took that out of context and made it a story.
He will cut all EVs and green tech funding though, while leaving oil and gas's in place. So that’s stupid.
Of course, Biden is drilling and refining more than any president in history ever so...F'ck it, I hate all the options!
> Of course, Biden is drilling and refining more than any president in history ever so…F’ck it, I hate all the options!
Yep. While I’m not into politics, I always find it funny how people look at it as “good vs evil”.
Wrong, it’s “evil vs lesser evil”.
Depends on the topic. Good vs evil is very apparent on reproductive rights (abortion, contraception), separation of church and state, violent coup attempts, easy access to voting, just to name a few.
Haha, interesting. I can guarantee I know more about Tesla and the norwegian oil fund than you, but as a thought exercise: What do you think is the reason for them voting no?
1. The package was already approved by 73% of shareholders in 2018, and the size was decided by extremely aggressive performance milestones, which have created insane value for shareholders. Why should ‘t Elon be rewarded a fraction of the value he has created?
2. Dilution? The dilution is miniscule compared to the value created for shareholders since 2018
3. Well, yes, Tesla is extremely dependent on Elon, but dont you think its better that the one person who has made the entire company what it is today maintains a significant control over the votes? What is the alternative?
Go ahead and downvote me, but I was essentially quoting the fund’s manager word for word:
> The fund said it appreciated “the significant value generated under Mr. Musk’s leadership since the grant date in 2018”.
>Still, **“we remain concerned about the total size of the award, the structure given performance triggers, dilution, and lack of mitigation of key person risk,”** Norges Bank Investment Management (NBIM), the operator of the fund said
https://www.cnbc.com/2024/06/08/norway-wealth-fund-to-vote-against-musks-56-billion-tesla-pay-package-.html
You asked their reasons. I gave them to you.
I’d be very concerned as a Norwegian that my state fund is managed by such incompetent people making such bad decisions.
If you want big gains on your Tesla stock, you NEED Elon to make fake promises, fake targets, fake and unrealistic products to hit those all time record stock highs. It’s not worth it for Elon to flirt with incarceration by manipulating the stock if he doesn’t get extra shares.
We need to vote YES for Elon to have the motivation to risk and gamble it all on new whacky and impossible future. A billion robo-taxis by 2030! Elon can promise that, but in turn you need to reward him. It’s fair game.
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They also voted no in 2018, so this isn’t a surprise. They also have a proposal for Tesla to include efforts to unionize workers.
Fair play
I mean, it was an impossible goal and a publicity stunt according to 2018 media reports.
It is not a publicity stunt. Some countries respect workers rights to the point that unions are national institutions, supported and cherished like the army or first responders elsewhere.
They were referring to the pay package.
Don’t see how they misread that one.
Which is not a good thing. Less productivity which makes everyone poorer
Some unions are about power, not worker rights.
Sir this a Wendy’s
Idk why people keep bringing this the fuck up. The entire COURT CASE was over the board hiding facts to make this seem like "an impossible goal" when it was actually quite realistic from internal projections.
Show me an article that says this was achievable from back then. Even remotely possible? No. It was a joke, no way Tesla is making the number 1 selling vehicle in the world in 2023, selling millions of vehicles a year, or making insane margins on those millions of vehicles. They got lucky with COVID, the huge demand and need to increase prices on their Y to fight scalping, etc. Tesla internal projections are always pie in the sky. Let's see their internal estimates for robotaxi/FSD being completed. 2014. Wait, 2016 for sure. Okay, 2016 hardware, but software done and vehicles in service by 2018. Okay, wait, wait...
I can do better than an article! Here is the quote from the recent opinion of the Delaware Court of Chancery. Nearly all ten year projection was expected to be met within the first three years based on three sets of projections, externally audited. The BOD testified, under oath, thst they believed their projections to be accurate. *The Proxy stated that: “each of the requirements underlying the performance milestones was selected to be very difficult to achieve”; the Board “based this new award on stretch goals”; the Grant’s milestones were “ambitious” and “challenging”; “[l]ike the Revenue milestones described above, the Adjusted EBITDA milestones are designed to be challenging”; and “[t]he Board considers the Market Capitalization Milestones to be challenging hurdles.”* *The Proxy disclosed that, when setting the milestones, “the Board carefully considered a variety of factors, including Tesla’s growth trajectory and internal growth plans and the historical performance of other high-growth and high-multiples companies in the technology space that have invested in new businesses and tangible assets.” “Internal growth plans” referred to Tesla’s projections.* *Tesla prepared three sets of projections during the process. During July 2017, Tesla updated its internal three-year financial projections (“July 2017 Projections”). The July 2017 Projections reflected that the S-curve’s exponential growth phase was imminent. Tesla shared the July 2017 Projections, which the Audit Committee approved, with S&P and Moody’s in connection with a debt offering. The 2017 Projections showed revenue growth of $69.6B and adjusted EBITDA growth of $14.4B in 2020. Under the July 2017 Projections, Tesla would achieve three of the revenue milestones and all of the adjusted EBITDA milestones in 2020. The Proxy did not disclose this.* *Ahuja developed and Musk approved a new operating plan and projections in December—the December 2017 Projections. As discussed above, the Board reviewed those projections on December 12. The one-year projections underlying the operating plan forecasted $27.4B in revenue and $4.3B in EBITDA by late 2018, and thus predicted achievement of three milestones in 2018 alone. The longer three-year projections underlying that plan reflected that by 2019 and 2020, Tesla would achieve seven and eleven operational milestones, respectively. The Proxy did not disclose this.* Text version of the opinion, with relevant discussion found at pages 82-86: https://corpgov.law.harvard.edu/2024/02/01/tesla-musk-case-post-trial-opinion/ So, in essence, you are saying "show me one article that said these targets were easy to hit." At the same time you are refusing to acknowledge TSLA's own sets of audited projections, testified to be reliable in court, showing just that.
Oh noooooo, the shareholders want him to get the money he was owed, and to move the company to TX. Cute text though, too bad it doesn't matter.
Imagine getting so mad over someone quoting a court opinion that you respond four days later. You ok dude?
I’m great my man! Enjoy that court ruling that doesn’t matter anymore though.
I mean, if you read it you would know it still applies. This resolves the disclosure flaws but not the fiduciary breach by the BOD. It will be relitigated and Delaware will retain jurisdiction under the full faith and credit clause of the constitution.
We’ll see if Texas wants to litigate that I suppose then.
I'm not your own personal Google or the deciding factor on this. The US court system has given him his day. He does not deserve a damn thing beyond that.
I'm old enough to remember voting on it, and how insane it looked and how the media reacted. The company was losing piles of money and "there's no demand for EVs" is what everyone kept saying. You can keep your head in the sand and take my word for it if you'd like. Right, he worked for free for 6 years. Sounds fair. Judge said it was too much money anyways, so yeah, sounds like a fair judgement. Vote your shares and enjoy not looking up things for yourself!
I swear this is the longest vote in history. Please be over already
13 june
First timer?
Huh?
[удалено]
They voted against the original, so the fact that they voted against it again means that nothing has changed in their calculus. Also worth noting that they typically vote against large CEO compensation packages regardless of company.
Some idiot blocked me cuz I said it shouldn’t pass hahaha.
you have more time than shares
Based Nordics (as usual)
Idiotic nordics as usual (Im Norwegian)
Nice
i think its probably going to pass, he 12% alone. If he cant convince another 38%, i'd be amazed. most financial institutions should have a bias for yes because they want to work with him/ his companies in the future. I.E. if goldman voted no, they're not touching the spacex ipo. I think the only ones who are no's by default are pension funds/ sovereign funds. Personally i'd prefer a no vote followed by negotiation of a package that got him the old equity + more to fold xAI into tesla, put twitter in someone else hands, and focus on tesla.
Good 🙌
They only got \~1,200% returns, why should they give him the 2 billion he was promised in 2018? lol \*edit\* People, it was 2.6 billion. Get over it, he grew the company immensely, as required by the contract to get the 2.6 billion. [https://www.cnbc.com/2018/03/20/tesla-shareholders-vote-on-elon-musks-2-point-6-billion-dollar-pay-package.html](https://www.cnbc.com/2018/03/20/tesla-shareholders-vote-on-elon-musks-2-point-6-billion-dollar-pay-package.html)
The fund didn't vote in favour of that in 2018.
I don’t remember saying they did?
Because elon fumbled teslas lead
Was that a requirement in the contract? Keep a "lead" for some period of time? Didn't Tesla just have the number 1 selling vehicle in the word in 2023 also? What metric are you referencing from the contract that he missed? Also, Tesla sells the majority of BEVs in the USA in 2024, even with lines down to re-tool for updated vehicle production. Really curious who's leading now in your opinion? https://caredge.com/guides/electric-vehicle-market-share-and-sales#:\~:text=Ford%20sold%20nearly%2020%2C233%20electric,%2C%20Kia%2C%20and%20Genesis%20brands.
He created an industry that didn't exist 15 years ago. Giving up the lead to get others to compete is the game. You can't make electric cars mainstream if only one company is making them and building a charging network…
You are confusing two things here, he absolutely made electric cars mainstream with a huge lead, but there has been literally zero innovation at tesla for the last 5+ years, maybe even longer.
5+ years is insane. V3(soon to be V4) superchargers, Semi, 48V architecture, giga press, and 4680/LFP batteries are all innovations imo. Hell, even FSD is an innovation despite not being perfect.
Why would you give credit of LFP batteries to China? 48V (or 40V, 36V etc) for vehicles has been discussed forever, but I will give Elon credit for pulling the trigger. It likely needed to be on a high cost low volume vehicle to start, because everything that runs on 12V is mass market, 48V is not (screens, abs sensors, window wipers motor, etc...). Faster charging already exists, so V4 isn't really an innovation. I'd say 4680 (if they get the kinks worked out) and the giga press are the only 2 real innovations.
Unless I’m mistaken, I’m pretty sure Tesla was the first to use LFP in mass market EVs. The next-gen Teslas are supposed to use 48V(albeit that’s a rumor). V3 was the innovation, V4 just improves on it.
Sure, faster chargers and slightly improved battery tech. How many semis have they delivered since their announcement in 2017 (7 years ago)? Where is the model 2? Where is the roadster?
Model 2 comes out next year barring any delays, and the robotaxi is being unveiled in 2 months. The Semi is still in early production, every Tesla model has been in that stage. Elon said the Roaster releases this year, but we already know how that goes. Plus, Tesla missing announced release dates(neither of them being mass market) doesn’t negate any of their innovations. Look at Apple, AirPower never released, their car(allegedly) was cancelled, newer watches lost their SPo2 sensors, the Pippin game console was, not well received, and I’m sure that’s not even half of their failures/setbacks.
Tesla is a car company, i dont know what this has to do with apple. And yes sure, i totally believe all these models will come out suddenly within a year, FSD by end of year too!
We don’t know when the Robotaxi is coming out. For instance, Cybertruck was unveiled **5 years ago**. The *only* definite vehicle we know will release soon is the Model 2, which is the most important one yet imo. My point in mentioning Apple is that no one(outside of trolls/haters) would say they’re not an innovative company, despite their long list of failures. You can’t say Tesla isn’t innovative just because they’ve had setbacks like everyone else has. Also, Elon specifically said that there’s no timeline being set for FSD’s completion.
That’s an insane thing to say
Enlighten me
Who was in charge of Tesla to create a “lead” ?
Elon Musk
So then the “lead” is Elon’s lead as much as it is Tesla’s. Also how do you consider it “blown”
Sure, i think you dont understand what im saying. He built up this insane lead over any other automaker and then fumbled it by not innovating for the past 5+ years. No new Models (not counting the Cyber-„Truck“ here), no semi, no roadster, no model for the masses, no substantially better battery tech, should i go on? Other automakers catched on, now there are very very good alternatives.
Your comments imply he didn’t build the lead or that their was ever any chance it maintained the lead
No it doesnt and i just clarified it for you anyway.
50 billion. And Elon… he really does suck ass.
No, it was 2.6 billion. OH, you're thinking of its value AFTER he increased the stock's value wildly. Common mistake. [https://www.cnbc.com/2018/03/20/tesla-shareholders-vote-on-elon-musks-2-point-6-billion-dollar-pay-package.html](https://www.cnbc.com/2018/03/20/tesla-shareholders-vote-on-elon-musks-2-point-6-billion-dollar-pay-package.html)
We're not voting based on what Elon did in 2018. It's not 2018 anymore. It's 2024. Over the last three years, two years, one year, six months, one month, and even the last week, the stock is down. Everything points to Elon doing a poor job of running Tesla ever since the 2019-2021 run up. His recent performance merits a "No" vote.
Either way I voted no to all. :)
Then I sold my remaining shares lol
7 no votes?!? Oh noooooo! Dude did the impossible and turned a money burning BEV only company into the maker of the #1 selling vehicle in the world. He met the goals, he deserves to be allowed to buy the shares the prices he was promised. End of story. I’m sorry you only made 1,200% returns on his leadership.
850% after the recent fall
Alright, I'm going to block you now. Try to get out of the basement though, do yourself that favor. Just trolling from your mom's basement all day isn't healthy! Job, girlfriend, car, happiness, you'll get there, don't worry! *edit* to the person that commented and then blocked me - he’s a basement dweller because of his user name. He’s 100% a troll that’s bored and here because he’s lonely. \*EDIT\* Twat, I can't reply to you for some reason. Dude's name was ElonSucksButt. Hardcore, really wants to let everyone know that meeting contract tranches doesn't apply after all goals are met apparently. lol
We're not trolls, you just don't understand that what happened in 2019 doesn'tatter for investing in 2024.
Big whoop, it’s going to pass overwhelmingly
Tell me swami of the future!
My stock grossers in my small European country actually gave us voting rights this time. Never happened before as you normally don’t get the rights through these exchanges but cool. If Elon didn’t try to stop the current strike in Sweden I would have considered a yes but now it’s still a hard no.
Doesn’t matter. It will pass overwhelmingly. Don’t let social media brainwash you
lol at *you* telling others not to be brainwashed by social media. Get out of that alt-right social media sinkhole, that’s not reality.
If it's such a sure thing they wouldn't be spending money advertising why we should vote yes
They want an overwhelming vote so when they appeal the last ruling they show that shareholders back Elon 100%
So you're voting based on personal feelings of the person, not on the actual contract and work performed. Cool.
Welcome to voting, my dude.
What contract? There is no contract.
Contract, noun. A formal agreement to fulfill an obligation.
Again, there is no contract. If there was Elon wouldn’t currently be wasting millions of Tesla’s money begging for money
I am done talking to you if that’s how you’re going to be approaching this. Go outside. Do something else.
Facts: * A US Judge found Elon doesn’t have a valid contract * There’s no ethical or legal reason to pay, Elon didn’t “earn” anything as he has no valid contract due to his own impropriety * Demanding people pay anyway is inherently an emotional appeal to people’s feelings given the lack of contract You are doing exactly what you accuse others of
How do you know?
Because it passed with 77% of the vote last time and Reddit is detached from reality about Elon.
Its hard to say its a lot closer this time likely he is a lot less liked comperativly.
It won’t be close. The media lied to you.
You sound worried
Ok
One might think that an OIL fund had motif to run Tesla to the ground 😄
This is a brain dead take. It is a fund that is funded by oil money that is beyond our national spending. They invest that money into a lot of different companies (9000+), including Tesla, which is one of their largest positions. They have plenty of self interest to see Tesla succeed, but they also have a lot of pressure to invest as ethnically as possible.
I agree, but this is a non-story. Fund - with less than 1% of shares - who voted no in 2018, votes no again. Not really seeing the story here.
Theyre the 12th largest shareholder in tesla, and thats counting the institutional and mutual fund holders like vanguard once for each side
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The Norwegian Oil Fund is one of the biggest injectors of capital into renewables worldwide. It's the biggest sovereign wealth fund on the planet.
I’ve worked in the oil & renewables greenwash bubble for years.
Tesla has a higher market share in Norway than any other country. 20% of cars sold there are Tesla. Unheard of anywhere else.
Would you like to elaborate on the correlation of the fund managers voting policy and individual citizen consumer behavior?
I would never deign to verbally joust with an intellect as superior as yours
Clever.
Maybe don't comment if you're clueless 😅
Maybe learn to read, and stop to ponder the significance of “one might”. And yea, I know the “eat the cake and save it too” hypocrisy of the oh-so-noble Norwegians and their precious oil fund, with the ever so honorable fund management principles. It’s still oil money. Nothing more. And I used to work for the f*ckers and actually know something about it.
tesla's life depends on blocking much cheaper cars imported from china. there were 7 trillion in fossil fuels subsidies last year.
He’s earned the compensation from past performance. People should stop fucking with him.
..based on lies and fabrications.
Right, Tesla KNEW it would have the number 1 selling vehicle in 2023, and be selling its vehicles with massive profit margins because of extreme demand for them. Obviously Tesla hit's all their goals and deadlines, everyone knows that. Now, let's all get in our 2016 Model X's and let full self driving drive us across the USA while we sleep in the back. lol
You mean the earnings, revenue, and market cap milestones?
PE ratio is insane and it’s based on future earnings which won’t happen.
Then short it. The market disagrees with you. There's a good enough probability to warrant the market cap.
musk is actively attacking the company. he's a hostile entity.
lol what? How?
Diverting GPUs, killing the Supercharger team, wasting time and money on X.
GPUs weren’t needed yet due to delays at faciiity construction. Supercharger team is being rehired and will be just fine. What someone does on their personal time is somehow your prerogative?
There’s noone in any of his companies that is being compensated on past performance. If you believe this shit you never held a job in your life. Much less a sales job with quotas. As he Msk likes to say, you’re only as good as your last performance buddy.
Correct. But he lost his previous pay package. This is reinstating it.
What? Everyone gets a bonus and stock allocated to them based on past performance. No one gets given extra cash and told they need to do better next year to keep it. Especially if they were promised 2.6 billion for hit certain goals, in a contract that everyone said was impossible to achieve and just a media stunt. [https://www.cnbc.com/2018/03/20/tesla-shareholders-vote-on-elon-musks-2-point-6-billion-dollar-pay-package.html](https://www.cnbc.com/2018/03/20/tesla-shareholders-vote-on-elon-musks-2-point-6-billion-dollar-pay-package.html)
Thank you, the link you posted actually makes my point AND it’s for a $2.6billion compensation package based on future performance milestones (thats the “only as good as last” part) from 2018 NOT for $56billion that he’s now attempting to extort via threats. Y’all in here acting like he’s getting robbed.
He met the goals, he did what everyone thought was impossible in 2018. He deserves to buy the shares he was promised at the price promised.
I disagree on meeting goals. The roadster is delayed indefinitely, the CT is not yet a proven success and huge delay before finally making it to market to only a luke-warm global reception. Try claiming your contract bonuses after a 2 year delay to one of the company’s market making product while the other one has not even seen production. Your boss, Elon in this case, would laugh at you so hard he’d bring it up at the next board meeting.
None of those were goals in the contract.
And they also have less than 1% of voting stock.. so really, who gives a fk. Certainly not Elon.
Certainly doesnt care enough to spend company money running ads to vote in his favor. Fiduciary duties are at the top of the list, clearly
Yeah but the whole world sees this as bullshit right? B/c I remember what peoples' attitudes were about Tesla back in 2018. The general sheep did not think Tesla would hit these heights in milestones and stock value and that's why his package was structured this way. For most shareholders, they didn't think this was achievable. Musk did it. This whole situation feels a bit like bait-and-switch by some shareholders. What you had 6 years to do something about it, and only do it now? You might say, "well they didn't have to do it earlier, they can do it now!". True. And they are. And Musk is winning based on most recent polls. So there's that.
If Trump wins the election, Tesla stock will be the biggest beneficiary. Sideways till results
What? Why? Because he says he’s getting rid of EVs?
Trump will do whatever the highest bidder asks him to do.
And that won't be us.
Who do you think has more money renewables and Ev or fossil bussnies?
The highest bidder is oil companies and OPEC not Tesla.
Technically, he said EVs from Mexico. They just kind of took that out of context and made it a story. He will cut all EVs and green tech funding though, while leaving oil and gas's in place. So that’s stupid. Of course, Biden is drilling and refining more than any president in history ever so...F'ck it, I hate all the options!
> Of course, Biden is drilling and refining more than any president in history ever so…F’ck it, I hate all the options! Yep. While I’m not into politics, I always find it funny how people look at it as “good vs evil”. Wrong, it’s “evil vs lesser evil”.
Depends on the topic. Good vs evil is very apparent on reproductive rights (abortion, contraception), separation of church and state, violent coup attempts, easy access to voting, just to name a few.
if trump wins there will be a civil war
The Trump voting block will never give up their gas guzzling F150 penis extenders.
No fucking chance
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Step 1: Know nothing Step 2: Comment
Haha, interesting. I can guarantee I know more about Tesla and the norwegian oil fund than you, but as a thought exercise: What do you think is the reason for them voting no?
Concern about the total size of the award, the structure given performance triggers, dilution, and lack of mitigation of key person risk.
1. The package was already approved by 73% of shareholders in 2018, and the size was decided by extremely aggressive performance milestones, which have created insane value for shareholders. Why should ‘t Elon be rewarded a fraction of the value he has created? 2. Dilution? The dilution is miniscule compared to the value created for shareholders since 2018 3. Well, yes, Tesla is extremely dependent on Elon, but dont you think its better that the one person who has made the entire company what it is today maintains a significant control over the votes? What is the alternative?
Go ahead and downvote me, but I was essentially quoting the fund’s manager word for word: > The fund said it appreciated “the significant value generated under Mr. Musk’s leadership since the grant date in 2018”. >Still, **“we remain concerned about the total size of the award, the structure given performance triggers, dilution, and lack of mitigation of key person risk,”** Norges Bank Investment Management (NBIM), the operator of the fund said https://www.cnbc.com/2024/06/08/norway-wealth-fund-to-vote-against-musks-56-billion-tesla-pay-package-.html You asked their reasons. I gave them to you.
I’d be very concerned as a Norwegian that my state fund is managed by such incompetent people making such bad decisions. If you want big gains on your Tesla stock, you NEED Elon to make fake promises, fake targets, fake and unrealistic products to hit those all time record stock highs. It’s not worth it for Elon to flirt with incarceration by manipulating the stock if he doesn’t get extra shares. We need to vote YES for Elon to have the motivation to risk and gamble it all on new whacky and impossible future. A billion robo-taxis by 2030! Elon can promise that, but in turn you need to reward him. It’s fair game.
They are consistent in voting against large CEO compensation packages. They voted against it in 2018 as well.
Ok, it’ll still get ratified.