Why Shareholders Sued Elon Musk (& Won)
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- Опубликовано: 2 июн 2024
- Did you know that Elon Musk got sued by a Tesla shareholder? It was by a shareholder who only owned a total of 9 shares of Tesla, but he would sue Elon for a whopping $56 billion. What did you Elon do that was so vile and apprehensable? Well, he gave himself an extraordinary payday if he was able to grow Tesla severalfold within the coming years. The idea was that if Elon Musk could 10X the market price, revenue, and income of Tesla within a 10-year timeframe, he was allowed to grow his Tesla stake by a couple of percent which at the current scale of Tesla translates to a whopping $56 billion payday. Most Tesla shareholders didn’t mind this massive payday given that their own Tesla stakes would’ve needed to be 10X before this happened. But, one fateful Tesla shareholder did care and he was able to get the whole pay package thrown out, at least for now. This video explains the story of Elon Musk’s pay package and how Elon Musk got robbed of $56 billion.
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Timestamps:
0:00 - $56 Billion
2:20 - The Case For The Package
6:32 - The Case Against The Package
10:02 - What Happens Now
Thumbnail Credit:
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Resources:
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Disclaimer:
This video is not a solicitation or personal financial advice. All investing involves risk. Please do your own research. 
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Man owns 9 shares
😂
Lok
Yeah, how many times in a generation does the little guy actually win against the rich and powerful?
Wild, can i do this with my 1 share? 😂😂
@@Jayjs20if it was against bezos, or Lockheed Martin or Boeing he would end up dead.. But let's all attack tesla, the only multi billion dollar company that isn't a giant evil conglomerate
Well, if they are not happy with the lawyer, they can sue him for excessive compensation.
I wish we could. The compensation is so absurd that they could give the 1 shareholder who let them file the lawsuit a $1 billion dollar kickback and STILL make out like utter bandits.
Suing the lawyer you used for the lawsuit 😂
Disclaimer: I haven’t seen the video and I don’t know what you’re talking about. Just wanted to make the dumb but funny observation
@@bandito241Elon did this to Twitter's lawyers that didn't want him to back out of the deal
The board voted for it because he stacked the board with cronies and yes men, no other reason. That is a big part of the lawsuit.
But the lawyers want $5.6b doing nothing 😂
There was a shareholder vote, it passed.
Cronies and yes men are subjective judgements. Unless he actually holds leverage over the other board members in a significant way, how can you deem them to be too close?
Apart from Kimbal, nobody on the board was related to Musk.
You do realize that it was voted by shareholders right? With a 70 something approval...
you are just Stup** , he gambled and he won
what u said was right in terms of common sense, but would require hard evidence in the court of law(and unless Elon is gay in bed with his board or something how would u obtain said evidence)
The current market/economy is unnecessarily tougher for boomers/senior citizens, I’m used to just buying and holding assets which doesn’t seem applicable to the current rollercoaster market plus inflation is catching up with my portfolio. I’m really worried about survival after retirement.
Just buy and invest in Gold or other reliable stock , the government has failed us and we cant keep living like this.
Yes, gold is a great investment and a good bet against the devaluating dollar, been holding some for awhile now, I’m grateful my adviser’s moment by moment changes in the market are lightening quick, cos who know how much losses I would’ve had by now.
I envy you, I’m still trying to recover from losses I incurred in 2021/2022, who is this investment adviser you work with, I’m intrigued and I could use some quality guidance
My CFA ‘’Colleen Rose Mccaffery’’ , a renowned figure in her line of work. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market.
Thanks a lot for this suggestion. I needed this myself, I looked her up, and I have sent her an email. I hope she gets back to me soon.
You don't understand fiduciary duty and duty of loyalty, director conflicts of interest, etc.
Ok so I’m not freaking crazy this totally seems like my guy missed the point of the lawsuit lmao
Could’ve bought another Twitter with that
For real hahaha
We have twitter at home
Twitter at home: X
The guy won his case because the board was colluding with the CEO for the pay package/ money. That's it really. The fact that people "shouldn't be surprised" is not a valid point. I agree with the irony of the lawyers wanting so much for winning the case; however, your point of saying "no surprise to anyone" doesn't hold up in court. Boards are supposed to be independent entities representing the owners. They can have some relationships with the CEO, but they are supposed to keep them in check. A CEO writing out his own pay package and the board approving it is collusion. That's the simple of it.
there was a shareholder vote
A contract is a contract
The collusion argument is circumstantial - apart from Kimbal, nobody on the board was related to Musk. And boards can have a working relationship with executives, its not a crime to get along.
CEOs have always been involved in determining thier compensation. This is nothing new. Especially if the CEO was the earliest major investor in the company and heavily involved in the nascent growth stages.
It isn’t. Writing your own pay package isn’t wrong
Yeah, a lot of this vid just feels like it's deliberately ignoring one side of this case.
You're mixing up two different issues here Hari, the pay package issue is not a robbery far from it.
the lawyers' compensation is a matter of discretion.
The pay package issue is an issue of corporate governance and fundamental fairness to minority shareholders.
The board's first duty is its duty of care, its fiduciary duty, especially for its minority shareholders.
The package is void at the very moment creation, because the board is ridden with conflicts of interests which opens up a minefield of fraud and misrepresentation.
They failed to exercise, at the very moment of creating the package, the oversight and governance expected of the board.
which is at the heart of the matter, prior to any talk of performance.
It is fundamentally at a legal level unfair.
all the things you mentioned in the video are irrelevant and confuses things.
You also failed to mention that 4 of 8 board directors are very close associates of Musk. The ruling and experts also criticized Tesla for having corporate governance unsuitable for a publicly listed company.
You also failed to mention that there was deliberate misrepresentation from the board to the shareholders because the operational and financial targets set are readily achievable for the company within 2-3 yrs, not 10 yrs, which misleads shareholders into thinking its a herculean tasks when its not, its a pump and dump
with extra steps by elon and gang.
There are many examples of Tesla Boards dereliction of duty.
The lawyer's fees are an entirely separate matter based on lawyer and client relationship which determines the fees, you are trying to insuate the 5.6b v fee vs 56b pay is non sense.
he has some bias?
Close associates is a subjective description. Apart from Kimbal, nobody had any blood relation to Musk. Besides, executives are supposed to get along with their board so this argument is weak.
Also, just because teslas internal reports predicted rapid growth doesn't mean it was going to happen. It's still speculation. Thier internal reports could have shown them making $100 trillion dollars- still doesn't mean it's going to happen.
The hard facts is that the company was on the verge of bankruptcy, not on the verge of achieving $100 billion revenue and a 1 trillion market cap like it is now.
It's not a pump and dump. They met revenue and ebidta targets (sales based targets), model y was the most widely sold car in 2023 and electrification is becoming mainstream.
Hardly seems like a pump and dump.
The merits of the case are weak imo. It comes down to proving conflict of interest of the board which is a pretty subjective judgement.
@@shankars6324is the argument really weak? Just because you think so? One of the main matters here before even getting into de specifics of the contract is that Tesla is a publicly traded company and as such it is bound to comply with a heavy set of regulations to ensure it works for the best interest of all its shareholders, and not only to their top executives. Conflict of interest in the board is a big no no since it puts into question whether they decide on behalf of their shareholders interest or their own. If Tesla executives were sincere about their duty as managers of a publicly traded company they would restructure to clear conflicts of interests and reestablish governance and authority. Under such a structure Elon would had gotten his package without this much of a legal challenge. It might sound absurd to you but think that this applies not only to Tesla but also to companies in the same jurisdiction to preserve the purpose of publicly traded businesses to an extent.
Honestly, the package seems fair given the market cap, but that probably speaks more to how disconnected the share price is to reality rather than anything else.
Not an Elon fan, but a contract/deal is a deal. He did exactly what was agreed to.
Indeed
55 billion dollars seriously
@@damoneboyd9945 the sum is irrelevant, it was tied to performance and this man got no salary whatsoever until all targets were met
@@damoneboyd9945anyone could of had identical results with 60M$. It’s legit like his compensation was 60M$ but you had to get 3 consecutive roulette number calls in a row.
@@damoneboyd9945 imagine if you had to go to court because someone thought your agreed upon salary or pay is too much, after you accomplished the work that was agreed up.
Elon Musk must hate Delaware rn
He does hahaha
the kicker is... even Mr Deeds knew that the great thing about being a share holder, is that no matter how many shares you hold, you have a voice. Thats the american way, if you have a problem with it 🤷♂
Only person that got a problem with it is Elon boys
He stacked the board like crazy and had connections with all of them. Thats why the board approved the plan
One can argue that executives at most companies tend to get along with their board and work closely with their board.
Besides, there's no evidence that the board acted against the interests of the company at the time the deal was signed- they could have thought it was a dying company and the compensation package was just fiction.
Scummy lawyers should never get that much foe these big cases.
From my understanding, he has practically filled the boardroom with friends who pretty much agree with everything he suggests, so there is a conflict of interest. Awarding him a pay package larger than the company has ever made in profit is not good optics. It's just a joke, to be fair, and the amount is ridiculous.
I think the most shameful thing will be if the judge actually side with the lawyers.
Hahaha, honestly doubt that
What are you talking about? Both sides have lawyers.
10x'ing a company is virtually impossible. 56B is a lot but 5.6B is certainly deserved with voting shares of 56B...
He battled the board on this once already when he threatened to take it private at 420 with Saudi backing. He accused the board of shorting the stock to stop is comp package from triggering. The issue with the package wasn’t so much its size, but the nature of the board and if it was independent or not. Comp committee has to have a makeup of independent members for this exact reason. Arms length negotiations and assessments on behalf of the shareholders.
if we somehow agree for you to invest $1000 with me and if I made $1000000 at year's end, I keep 80% of the return any less than that I walk away with nothing(even at $999,999), most people would take the deal, but once it comes to pass, people develop all sorts of ideas
Elon Musk originally managed to talked them in a crazy pay package that his marketing managed to make a huge win fall for himself and unlucky for Elon the board managed to get the court to bring this crazy pay package down.
How is it crazy? The Zuck owns 51% of Meta platforms. Larry page and Sergie Brin own a way higher stake in Alphabet than Elon does in Tesla.
Bruh had 9 stocks and was worried 🤣🤣🤣
And he still earned a fuck ton off those few shares to lol
He should face a class action lawsuit from the other shareholders. My shares have lost value since the decision. That's on this ahole.
@@ExcessumGaminghow much did he earn
No wonder he's been railing against Delaware C-corps
Indeed
Funny thing is, corporations always go to Delaware because they're among the most business friendly state for this kind of thing.
@@Jayjs20looks like it’s not anymore
EBITDA stands for 'Earnings Before Interest, Taxes, Depreciation and Amortisation'
8:36 That's simple. The Board Has to act in the shareholders best interest NOT the best interest of the CEO. This means that they weren't trying to negotiate based on what would Be best for the shareholders - the Minimum viable compensation they could have given to Elon.
And the Other Problem is that even according to Tesla's internal expectations, Elon would have already achieved 3 or 4 of These milestones (I don't remember the exact Number). That means that Elon could already expect quite a Bit of that compensation. Because of this, these weren't hard milestones for him to achieve, or rather the First were basically guaranteed.
A significant factor in the case going the way it did was the lack of independence of the board members. They're all buddies of musk. And that's not how a board is supposed to operate when it is a public company.
"Robbed" lmao oh no, somebody think of the poor billionaire!
Elon took the stock from $400 to $190 after it inflated during the pandemic, leveraged stock to buy twitter then lost half of it, then asked to dilute the shares by $56B or he will start a rival company 😂
No wait
You missed somin
He is now demanding $83 billion guz he sold of a lot of stonk
Lemme exppain those points
1. By How easily the goals would be met, he meant that 3 of the operational milestones would have been met in just two years
2. Saying that he already has a big enough stake in tesla that he doesnt need more
3. Simce hes an insider he knows whats up and designed it to his favour
4. All the board members ate made up of family and friends
Richard must be fun at parties.
if he didn't get money, how did he buy twitter?
8:21
Musk did not found Tesla.
Lmao so much detail is left out here. Bad coverage. There was already information out there that suggested all of the milestones would be hit easily with internal reports.
Bruv he didn't see that
Every company thinks they will be the next Apple. We all know Elon is overly optimistic. Let’s say he does it again, but to 2 trillion $. Guarantee you there will be internal documents saying Fsd or whatever bs may reach that amount. But most people today would rightfully say « no way ».
@@juniorbitare3041 The funny thing is that with or without that 56 billion dollar package the guy suing is still broke
Fun fact: The law firm that won the case are now demanding $5.6 billion worth of Tesla stock for "saving the company $56 billion"
This channel is a fake walk street millennial…they aren’t millenial…wall street millennial covered this already and made it make sense
@@fredm.2699 Woah bro
Wall Street and Logic do different videos bruv
Wsm is about stocks and investing
Logic is, well in the name, things being Logically answered
I think that compensation matters a lot to Elon. Buying Twitter was a massive investment, and it's not like it's paying dividends.
Elon is NOT the founder.
Legally a cofounder. Realistically, while not a co-founder, he lead the company from nothing, invested most of the initial capital, took over control before they had a product & made it worth 2x Toyota.
He is the CEO thi
@@juniorbitare3041 they already had a successful product before he joined.
@@aviation11000 No they didn’t 🤦🏾♂️😂. Where are your sources for this??
@JustaRealKid yup. Tesla roadster. In fact the Tesla roadster is reportedly what made Musk wanna join the company. You obviously have a huge bias towards Musk
It’s still excessive. The board was in the tank for him from go.
im on the judges side. tesla hasn't generated 56 billion dollars in profit since it's inception. not to mention the board was packed with his friends and family.
But it has generated $1 trillion+ in market cap which is what is most relevant for investors
Shareholders aren't paid anything from profit, at least in the 21st century. Profit is just an accounting term now.
Shareholders want to see the stock go brrrrrr
Do a video on whether you think he deserves the $83 billion dollar pay package@@LogicallyAnswered
@@LogicallyAnswered shareholders want profitability market cap is trash and can be manipulated like Elon did to get paid
I'm not from the US but isn't it possible to go to a higher court or something?
could you please make a video talking about the fall of the Dell XPS laptop line, or consider it?
The fall? Looks to me like the XPS line is doing really well. Basically the Windows MacBook right?
Right
well, the dell xps has been getting quite bad over the last few years. they didn't update the chassis for a while, so they were essentialy putting power hungry proccesors in a laptop that does not have the cooling or the space to accomodate it, so there were no real improvements. even when they did update the design with the xps 13 plus , then the xps 14 and 16, it was a step backwards. they keyboard became akward, the function row became stupidly annoying and they were STILL putting proccesors that were way too powerful for the small chassis of these laptops. They decided that form was going to be over function.
Believe me, dell's not doing well at all with the XPS right now, the negative reviews from users and youtube channels aren't the greatest either.
@@LogicallyAnswered
@@LogicallyAnswered not really, the XPS line isn't doing as well as it did before. they got a ton of criticism over the past few years because they didn't update the design at all, so they were essentially putting power hungry processors in a chassis that didn't have enough cooling and space to take advantage of it, so there weren't any real improvements from generation to generation.
Even when they did decide to change the design, they went for form over function. the issues of before still aren't solved, except that now the keyboard is terrible, since it uses a touch function row instead of a normal one and the keyboard is uncomfortable.
@@IlyasSahnounBro we need a big story not sum loose change
It was declined because it was irregularly granted. The board should've been more neutral, and Teslas board isn't neutral
How can i prevent Elon from getting his next pay package with my 1 share guys?? 😂
It is like giving John Wick an impossible task.
You missed out on some detail like compensation plan is post pone during tesla production problems
only when the internal future focus is looking good elon propose another plan and how board didn't disclose some important detail to shareholders for decision
Its not shareholders but 1 shareholder with couple of shares lol. Its obvious scam. And the lawyers are asking for almost as much money making it just crazy.
I didn't understand, did he or didn't he get the $56B?
No. But he is appealing the result.
Will move company to Texas and will get his paycheck eventually.
It's one shareholder. One. And he didn't have any damage. Far from it. He made ten times the money he invested. It's all a scheme triggered by the lawfirm that wants to profit off of it.
He wasnt a founder. He BOUGHT IN.
In Jamaica, we call this "badmind!"
Pay the man!
If Elon were American-born, would the outcome of the case be different?
The narrator missed a lot of context and naunces of the the case
If the terms of the compensation were planned ahead of time the judge overstepped his authority….the judge’s job is simply to enforce the contract. The judge should be removed from the bench, it’s not his job to determined what’s fair compensation.
No honest board gives out a free "you get tenth of value" if weirdly our stock quadruples. That's not standard. And process matters, a biased board rushing thru negotiations is EXACTLY what is improper in corp law. So yeah if 5% of stockholders dislike this, if gets undone. No corp lawyer is surprised by Delaware court. We don't run big trillion doller corps like a fraternity or mafia family, we want analysis and care. Why do CEOs get chance at trillion dollar payday, no other employee does.
Nobody should get paid. The lawyers are vultures for trying to get 5.6 billion out of the company. And the guy who filed the lawsuit holding 9 shares (or whatever insignificant amount) is also a vulture. It’s true the the amount of the compensation was excessive and the board was probably favorable to him. But if it happened in 2018, then the people sueing should have been significant shareholders in 2018. 2019 at the latest. Anyone that didn’t agree with the boards decision could have sold their stock years ago
The lawyers will not get it. Most likely they will get about 400 to 500 million.
I don’t think Elon deserved it at all. Free cash flow and return on invested capital matter more than stock price. And those KPIs are currently not high enough to justify a 56B payout.
That's a matter of opinion. The contract was around revenue, ebidta targets as well as market cap.
If these targets weren't met, nobody would say he is making too much.
@@shankars6324 My issue was that those targets were ridiculously low when compared to the payout. Their operating profit in 2023 was 8.9 Billion. His compensation of 56 billion is 6 times that. It make zero sense.
@@TheChannelofOrange again that's a misconception. He is not given 56 billion in cash from the companies revenue, he was actually awarded a certain amount of stock options which are currently valued at 56 billion (probably lower now given drop in share price).
But this is just assets on paper which are tied to the companies equity (raised capital), not actual money coming from the companies profits. Beyond that, he cannot rapidly liquidate those shares.
One could argue that Tesla is also a tech company which does make it more possible to reach those goals compared to car companies.
Anyway I got no idea what the law is on the matter, so it can go either way “in my book”.
One of your great videos recently. No useless history lessons and straight high quality information
Appreciate the feedback Shafeen
@LogicallyAnswered I like your tech history videos though so don't stop. All your content is 🤌👌
you could the package was well deserved, but somehow the actual outcome feels like justice.
😂
Hahaha
Too hard to understand needs for those unfamiliar with big tech boards procedures about compensations
Friendly reminder, if you bought in 18, at the peak you where up 1600% or just shy of 700% now. Yea, if a dude says he can 7x my portfolio for 54 billion. I'd ask him, why are you asking for my permission. Just do it.
Ponzi scheme
I mean I agree Elon has the right to get those money and he should geet them, however I understand that a further 10% dilution is heavy on shareholders
he deserves it he fires people who's loyal to the company for no reason his money got a head of him and become arrogant
A deal is a deal! It's the basis of civilization, without honoring deals, debts and ownership we all collapse into a free for all.
Imagine if he knew the future back then, would he be bothered to go through the immense troubles that he went through? Would he devote is full attention and time into making a great company, providing value to shareholders, providing much wanted products to consumers against all odds (every electric car model by any brand exists because Tesla made the market for them).
What about the next person in the same position? Will we start seeing less innovation and wonder why no one solves hard problems anymore?
Tesla shareholders prefer to spend money to motivate a CEO rather then spend money on unproductive lawyers, those 56 Billion already paid for itself.
Taking into account the second point maybe Vanguard Group should work for free for Tesla because they own so much, or every shareholder should dedicate his life, 80hours because they have equity. This is absurd (like he's rich enugh)
Talking about moral grounds I belive this is the best way for a CEO to be payed, you get what you bring back to investors, if your company is sh*t you don't get anything, if you 10x the stock for shareholders you deserve a part of your progress.
Calling a pump and dump scheme shareholder value is not exactly right. What about the shareholders when the balloon burst? Probably it technically still value for the short stock holders.
It’s a Ponzi scheme, the whole company is.
That is insane.
Seems unfair
He blew all of his cash to buy Twitter
Now he wants another package 😅
Bro the guy cannot rest
Won't someone think of the billionaires!
@@RichardBaranstill, seems unfair. Also ur thinking about it stupidly. If the richest person in the world with a massive influence can get screwed like this. What stops them from screwing over literally everyone else?
@@juniorbitare3041poor people get screwed by the system daily. But when it happens to a billionaire, all of a sudden it's a problem 😒🤦
@@kingiam9271 u are not what I am getting at. I am saying IF the #2 billionaire who supposedly has everything can’t protect himself, how can we?
Have the lawyers gotten the 5.6B paycheck? who has to pay it anyway, Tesla or that board member who filed the lawsuit?
Tesla
They want Tesla stock
For winning a case against Tesla CEO 😵💫
a loss is a loss, he should just take it like a champ
The final point fails spectacularly here.
Standard attorney compensation for judgments like this usually start at around 1/3 of the amount. Not that I want to defend the legal profession's exorbitant fees, but If anything, they asked to be compensated less than a third of the standard rate soooo...
*My Only News Sorce I Need ❤😊🎉*
There’s something off about this intro…I’m gonna have to edit this comment after watching the full vid but you’re framing the lawsuit based on his compensation package being excessive which that court wouldn’t normally hear a case on (it’s not really their business) unless there’s a valid argument that the compensation package was not agreed to in good faith. From what I heard those KPIs that made this package seem “impossible” to achieve mislead shareholders because internal projections had already forecasted a few of them being hit in the next few quarters, plus the board was(for lack of a better description ) operating to please Musk. I’m going to have to re-read into the case and I may be wrong about those facts but this is the first time I’ve heard someone say the outrage was based off the comp size, which again, is not a normal thing Delaware Courts will intervene on so long as the comp package is in good faith. Love to hear anyone else’s opinion tho!
Edit: actually I can already tell from the amount of likes the positive comments for Elon vs people pointing out the actual issue that this is more of an Elon Elephant walk vs a critical analysis of the case. If you’re reading this, wouldn’t hurt to actually read the case files or at least find a more neutral source.
What about the investors that put in millions of dollars but now r billionaires .
You mean we should talk more about the 5% who made a lot with investing in Tesla stocks and less about the future 95% bagholders?
@@brunoheggli2888tbh, if you invested in Tesla past a market cap of 200B$ you are either stupid or just gambling.
@@brunoheggli2888 those 5%contribute 95% ODTE options don't count bro
I usually side with the little guy, but this is an exception.
I don't like Elon (or any billionaire for that matter), but I appreciate @LogicallyAnswered unbiased approach, not truly for or against Elon, just showing the numbers and explaining the situation from onset. Too many RUclipsrs go in from the angle of Elon is amazing -_-.
Hi hari.. Engaging topic you got here
Why did Elon Musk not call us to take his case for him? Its still not too late to call me to take up his case, we will definitely win for Elon Musk, right or not, rigt for sure! Tell him to call me to take his case for him , tell him to arrange for me to be there we will win, then he can at last travel with me wherever he wants to, in Gods eyes we are husband n wife, n i can win cases for who Jesus choses to stand for, get it? Call n arrange me to be by his side, NOW! Love u ❤❤❤
It's not theft, it went through the legal system.
"theft" was just a figure of speech here
I saw another channel make a similar video on this a month ago (this one if anyone is interested: ruclips.net/video/zLqA68S4Ai8/видео.html) and it had like the opposite conclusion, that the money was ill deserved. I guess it's just a reminder that even though both this video that that video reported only facts, with complicated scenarios you can really cherry pick points to support either side.
This entire thing is just so bindbogglingly stupid. No, never America...
He should of gotten paid.
Every time Elon throws a tantrum, an Angel gets its wings.
The first 2 payments were a guarantee from Tesla's own predictions. How much time was Elon committed to Tesla? The only way Tesla justifies it's current valuation is if they get Full self driving to work. That isn't going to be happening any time soon. Even if it was "finished" tomorrow how would you implement it? Will the regulator sign off on just having a vision system or would they require 2 systems? If you are drunk and getting your car to drive you home but it got foggy what would happen? You can't drive and the car can't drive.
There are so many problem to solve once you actually have the best system you could get. FSD won't be happening any time in the next 10 years so is Tesla worth current value? Will sales keep increasing at the current rate? Between Elon being Elon and all the easy electric car sales being completed it will keeping getting hard to sell an unlimited amount of electric cars.
Elon manipulates lot of things to achieve those KPI’s, he’s very good at it.
How many Tesla shares do you own?
you need to watch some thunderf00t
how did this case was won because legal ground side elon and further more this dude would increased his stake in tesla isnt that a good thing
That 9-shares-owning loser drummer is infuriating. The idea that Elon shouldn't be paid because he "doesn't need it" is the stupidest argument I've ever heard. It's not about what he needs (and who the hell gets to decide what someone else "needs" anyway?"). It's about what he deserves, what he's owed, what he negotiated for, and what he EARNED.
Richard is the Hero of this story
Interesting, you are clearly pro Elon in this video.
People are happy because Elon musk got robbed... But this sets precedent, and maybe in the future, they will claw back employee earnings. This is very short sighted for people to cheerleader this, when once precedent is set, companies could later say your bonus was "excessive" and sue you in court. And make it hell to know your compensation.
First as always!! For some logics
Thanks for being early Choqao!
no, he wasnt robbed you sad sad man
it is a pleasure to listen to mastodont
0:50 this is why shareholders signed off.... I thought "ya... Sure.... I'll pay you that much if you can grow the company that fast. You'll NEVER DO IT but sure.... And then he did it..... Made me money.... If I hadn't doubted him and put more in, would have made me more, oh well.
Hahaha
i don't care about Elon musk, Tesla, SpaceX, Neurolink or Twitter 😐
Ok
Cared enought to click the video, AND leave a comment.
@@SwitchMaxFX that's because i watch Logically Answered Videos regardless of the topic
Boy, did you get this wrong. The only question under the securities law was whether the board fully disclosed all the material facts to the shareholders. The court was not empowered to determine that if the hidden facts had been disclosed, the shareholders would still have approved the pay package. For what it’s worth, your claim to know is just hogwash. The court properly decided the case under applicable Delaware law. I like your business videos but you should avoid expressing legal opinions because your lack of expertise is apparent.
This is so against what I had read elsewhere about how close the board is to elon, and how they themselves projected it was on track to be met, sorry but that's an unsubscribe
Dear LA, Thank you once again for a well developed and researched piece. Of course you are correct, there really was no law that should have prevented Elon from receiving his contractually agreed to package. Chances are this decision will be reversed in a higher court, should Musk ( or The Board ) wish to push the decision. However what is morally ( and socioeconomically ) untenable one year, can quite easily become illegal in the next. For the moment your response is perfectly accurate, however the public and the Media re-action to this fact was never about Elon, The Board, or The Laws, as the character once said to a military administrator, "...Listen to me, Major Walsh, it is an événement sociologique.....".
Great video as always
Thank you as always Balpreet!
This is a diferent perspective than I have heard and it makes a lot of sense.
Glad the video gave you a different perspective:)
@@LogicallyAnsweredStill missed out on a good amount of info according to other comments
Really great different perspective video that the media should pick up on. Great job!
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Why A SINGLE SHAREHOLDER had a brain.
Fixed ur title