This is what happens when your actual board of directors aren’t actually independent. It does reveal one facet of the “rigged” system that executives have created for themselves in corporate America (their compensation structure, their golden parachutes, their ability to land elsewhere and continue their incompetence in the c-suite, and using shareholder directives to further increase their executive compensation).
Tesla’s chairperson (Robyn Denholm) warned shareholders ahead of the companies shareholder meeting on November 5th that the company could “lose” Musk if that $1 trillion package is not approved. That would actually be doing the company (and the world a favor if he would just send himself on a one-way trip to Mars with the rest of these billionaire oligarchs that have screwed up things up for the rest of us).
Musk and the company would need to meet aggressive targets in order for him to receive the full compensation. The funny thing is this whole plea makes Musk out to be like someone who is crucial to increasing shareholder value and to the business operations. Excuse me? He is another in a long line of executives that are INCOMPETENT clowns.
$1 trillion is not a trivial number. 1,000 billions is equal to a trillion. 1,000,000 millions is equal to 1 trillion. Absolutely no one needs that amount of money except for showing off. Excessive isn’t even the right word at these levels. It’s just pure greed and one that ignores the disparity when there are people around the world that cannot even afford to get a proper meal each day.
Such a package is also dilutive to shareholder value, but like everything else in this screwed up timeline we live in (where being a rich/powerful/connected criminal is paying them dividends by sucking up to the felon in the oval office), people have had a tendency to vote against their own best interests. So I won’t be surprised if this measure passes
This moron also isn’t really very smart or a visionary either. He bought the company and kicked out the original founders like he did with SpaceX. The real brains behind Tesla were those founders and the countless number of engineers who helped them put together the first prototypes. Musk was good at making himself sound smart (and selling that persona to a broader audience that bought into that false facade), but he’s mostly an incompetent buffoon by trade. He’s also shown himself to be a Nazi.
His foray into U.S. politics and taking an illegal sledgehammer to various government institutions (with the blessing of the felon-in-chief), is what caused reputational damage to Tesla. But that wrecking ball will end up serving him well with anything corrupt including his companies not being held accountable for any wrong doing.
This executive compensation being tied to those aggressive targets? There is little from stopping the executive team from cooking the books to help him achieve those goals. Why? Because the various institutions that are supposed to root out corruption, have been corrupted by this criminal enterprise that has captured the U.S. government.
The Securities and Exchange Commission has a loyalist (Paul Atkins) to the regime and will turn a blind eye to corrupt hacks like Musk. The U.S. attorney general is a loyalist hack. The F.B.I. director is a conspiracy theory quack. All corrupt criminals in charge of these institutions as they purge the ethical ones and replace them with even more crooks. You have to be pretty oblivious, gullible, and naive to believe otherwise.
