Economy Elon Musk gets 1 trillion dollar pay package

Aegon Spengler said:
apple.news

Tesla Shareholders Approve Elon Musk’s $1 Trillion Pay Package — WIRED

The unprecedented payday will go into full effect by 2035—as long as Tesla hits ambitious financial and production targets.
apple.news apple.news



I wonder how many Roman Salutes he will do once he becomes Americas first trillionaire



I’m sure everyone is very happy for his success
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I'm all for giving him the trillion but taxing him 90% on it. Talk about greedy. I wonder what percentage of the stock he and his allies own. What percentage of non billionaire investors are okaying this?
 
LangfordBarrow said:
I'm all for giving him the trillion but taxing him 90% on it. Talk about greedy. I wonder what percentage of the stock he and his allies own. What percentage of non billionaire investors are okaying this?
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Not really sure what someone does with that kind of money if they aren't philanthropic.

There is only so much time in a day and so many cars you can drive, meals you can eat, clothes you can wear, properties you can reside in. Perhaps Elon actually has enough creative and useful ideas where that sum of money can actually be of genuine good use.

Was listening to Sam Harris the other day and he mentioned from a philanthropy perspective, Bill Gates is probably the greatest of all time, yet there is no shortage of weird conspiracy theorists who will make him out to be evil.

And at the other end of the spectrum, it doesn't seem like Musk is that kind of person who would organize philanthropists or propose a framework of giving back.... instead he is actually really weird in a petty way (like the scorn for the rescue diver, or him pretending to be a gamer). So this might just be another sad, ironic case.
 
Unknown Pleasures said:
Not really sure what someone does with that kind of money if they aren't philanthropic.

There is only so much time in a day and so many cars you can drive, meals you can eat, clothes you can wear, properties you can reside in. Perhaps Elon actually has enough creative and useful ideas where that sum of money can actually be of genuine good use.

Was listening to Sam Harris the other day and he mentioned from a philanthropy perspective, Bill Gates is probably the greatest of all time, yet there is no shortage of weird conspiracy theorists who will make him out to be evil.

And at the other end of the spectrum, it doesn't seem like Musk is that kind of person who would organize philanthropists or propose a framework of giving back.... instead he is actually really weird in a petty way (like the scorn for the rescue diver, or him pretending to be a gamer). So this might just be another sad, ironic case.
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IMO he's just another old money blue blood narcissist like Trump.
 
Unknown Pleasures said:
Not really sure what someone does with that kind of money if they aren't philanthropic.

There is only so much time in a day and so many cars you can drive, meals you can eat, clothes you can wear, properties you can reside in. Perhaps Elon actually has enough creative and useful ideas where that sum of money can actually be of genuine good use.

Was listening to Sam Harris the other day and he mentioned from a philanthropy perspective, Bill Gates is probably the greatest of all time, yet there is no shortage of weird conspiracy theorists who will make him out to be evil.

And at the other end of the spectrum, it doesn't seem like Musk is that kind of person who would organize philanthropists or propose a framework of giving back.... instead he is actually really weird in a petty way (like the scorn for the rescue diver, or him pretending to be a gamer). So this might just be another sad, ironic case.
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Musk has given billions to charirty and started his own. In something like 2021 or 22 he was the world's single biggest charity donor.
 
Just wanted to add to this Blue Origin rocket was getting setup for another launch this is the new Glenn rocket that made orbit on the first try then Jared Isaacman Elon buddy was in charge the first time and New Glenn never got a NASA launch window after its single launch while Biden was President. Now a new launch window being setup and Trump picked Jarad again to run NASA good chance New Glenn will not see the light of day or launch. Surprising that 10 billion as I talked about already getting put to good use. But that is based "very likely confirmed this time to run NASA.
 
Bob Gray said:
Musk has given billions to charirty and started his own. In something like 2021 or 22 he was the world's single biggest charity donor.
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Thanks. I googled. It's of course better than nothing, but seems a far cry from ending malaria in Africa. Though will say there are hatorade drinkers everywhere so maybe not all criticism is fair.

Key points on Musk's donations and foundation:
  • Donations to his own entities: A significant portion of the funds from the Musk Foundation have been directed to entities controlled by Musk. For example, in 2023, $137 million was given to "The Foundation," another Musk-controlled charity focused on STEM education for a school near his Boring Company's employee housing development in Texas.
  • Failure to meet IRS minimums: The foundation has missed the IRS's 5% donation threshold for at least three consecutive years (2021-2023). In 2023, it fell short by $421 million.
  • Criticism of self-serving giving: Critics have described Musk's giving as "haphazard and largely self-serving," noting that many donations are tied to his personal interests, businesses, or employees, such as contributions near SpaceX facilities or to schools for employees' children.
  • Potential tax benefits: Donating shares to his own foundation has provided significant tax benefits for Musk by allowing him to avoid capital gains taxes and potentially claim large tax deductions.
  • Use of donor-advised funds: The foundation also transfers millions to donor-advised funds, such as at Fidelity Charitable, which allow him to claim a tax deduction immediately while deferring the actual distribution to a charity.
 
The plus side of this is that if he's going to have any chance of meeting that valuation for Tesla that he needs to trigger it he's going to have to stop acting like a mong in public.
 
Wall Street is totally untethered from reality.

Elon destroyed Tesla's customer base in the past year, and the company would be getting crushed by the Chinese if fair competition existed in its core markets.

Yet the stock is still soaring because it's valued as a genius-led tech company despite the fact that everybody now knows that Elon is a drug-addled moron who spends 18 hours a day doom-scrolling on his social media app and reposting 4Chan memes.

Late stage capitalism is amazing.
 
Phisher said:
Wall Street is totally untethered from reality.

Elon destroyed Tesla's customer base in the past year, and the company would be getting crushed by the Chinese if fair competition existed in its core markets.

Yet the stock is still soaring because it's valued as a genius-led tech company despite the fact that everybody now knows that Elon is a drug-addled moron who spends 18 hours a day doom-scrolling on his social media app and reposting 4Chan memes.

Late stage capitalism is amazing.
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Perfect summation.

Tesla board and various funds were in a tough predicament. Tesla valuation is astronomically inflated but only due to Musk and his crazy promises for the past 20 years. If Musk left, the price would likely collapse so they continued with the Ponzi scheme by promising another pie in the sky thing of robots and AI that Musk will deliver on sometimes in 2050 if it's like his every other target date delivery. The quality of the robots with Ai will be comparable to those of the Teslas where his employees would raid local hardware stores for spare parts. I can't wait to use my AI bot with part from my local Ace hardware store. What am I saying the robots will probably be deployed by the Feds to keep the 'peace'...I am sure our paper trillionaire will come begging the government for some more subsidies...

Chinese EV companies are now a decade ahead in their tech/AI/autonomous driving/etc. If US removed the tariffs /trade barriers Tesla would go bankrupt.
 
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