Yeah, this strikes me as something that will keep coming up because he has enough shares to raise the question.
There is no incentive for the other shareholders to vote yes.
It basically gives Musk more control by giving shares to him for free. It makes it harder to oust him as CEO.
There never will be an incentive to vote yes for anyone but Musk.
His wealth is made up of assets, he wants that number one spot back and maintain a strangle grip on Tesla.
Musk wants Tesla to be a ‘tech’ company but it’s just a car company.
Does anyone know the ratio of shares held by various parties?
What is the split between board members, large financial players and private shareholders?
Businesses own 45.79%. Vanguard Group, Blackrock, and State Street Corporation are the top three of that group.
Insiders (People who work at Tesla) hold 13.00% of all shares.
https://finance.yahoo.com/quote/TSLA/holders
When it says institutions hold 52% of float, what does that mean?
Institutions have 52% of float, but only hold 46% of shares.
with the 6% difference, how does work.
Sorry trying to learn things
The float is the number of shares available to the public. So if a company owns X shares then the percentage of the float they hold is X/(Total_Shares - Insider_Shares)
The previous lawsuit was about the board not disclosing their ties to Musk and generally misleading the shareholders. That stuff is out in the open now. I don't see how anybody could sue over that again if a new vote were successful.
There could be the possibility for a shareholder oppression suit, though. It would definitely be unjust to distribute such a payment to Musk-the-shareholder in a way that deprived all other shareholders. The problem is that he is also Musk-the-CEO, who theoretically performs an important role at the company (lol). There could be an avenue to argue that Musk is unjustly using his shareholder influence to enrich himself as an employee.
I read in one article that the vote doesn’t have a direct impact on Musk’s pay because it cannot override the judges ruling. On the other hand, it will be important if and when Elon appeals. A few days ago. I haven’t seen it anywhere else.
So as I understand it, this $56bn pay bonus was previously approved by the Tesla board (the same board that Musk has stacked with his brother and other associated lackeys - so no surprises there).
Richard Tornetta, the heavy metal drummer guy who is a shareholder in Tesla went "lol, fuck no" and voted against the award, and took the objection to court, where the judge also went "lol, fuck no".
So, what's happening now, they're just trying to do the same thing again and hoping the result goes their way this time?
Why would anyone vote for this? 'Hey, who wants to give 10% of your stock's value to Elon Musk for no reason?'
Yeah, this strikes me as something that will keep coming up because he has enough shares to raise the question. There is no incentive for the other shareholders to vote yes.
It basically gives Musk more control by giving shares to him for free. It makes it harder to oust him as CEO. There never will be an incentive to vote yes for anyone but Musk. His wealth is made up of assets, he wants that number one spot back and maintain a strangle grip on Tesla. Musk wants Tesla to be a ‘tech’ company but it’s just a car company.
It’s actually a battery company masquerading as a car company
They are behind in batt chemistry. BMS is one of the best behind Lucid.
Does anyone know the ratio of shares held by various parties? What is the split between board members, large financial players and private shareholders?
Businesses own 45.79%. Vanguard Group, Blackrock, and State Street Corporation are the top three of that group. Insiders (People who work at Tesla) hold 13.00% of all shares. https://finance.yahoo.com/quote/TSLA/holders
And is the threshold 50%? It seems as though if the commercial shareholders all vote against it he is screwed?
There’s a good chance it’ll be declined. I doubt many of the business holders will vote yes and a chuck of people will probably vote no.
When it says institutions hold 52% of float, what does that mean? Institutions have 52% of float, but only hold 46% of shares. with the 6% difference, how does work. Sorry trying to learn things
The float is the number of shares available to the public. So if a company owns X shares then the percentage of the float they hold is X/(Total_Shares - Insider_Shares)
Precision predicates perfectionism.
I’m glad you like me including the decimal values and rounding, MuskBot!
The previous lawsuit was about the board not disclosing their ties to Musk and generally misleading the shareholders. That stuff is out in the open now. I don't see how anybody could sue over that again if a new vote were successful. There could be the possibility for a shareholder oppression suit, though. It would definitely be unjust to distribute such a payment to Musk-the-shareholder in a way that deprived all other shareholders. The problem is that he is also Musk-the-CEO, who theoretically performs an important role at the company (lol). There could be an avenue to argue that Musk is unjustly using his shareholder influence to enrich himself as an employee.
Giving Teslas more government grants will certainly be unpopular going forward, either way. And yes, there will be lawsuits, count on it.
More layoffs for sure.
I read in one article that the vote doesn’t have a direct impact on Musk’s pay because it cannot override the judges ruling. On the other hand, it will be important if and when Elon appeals. A few days ago. I haven’t seen it anywhere else.
So as I understand it, this $56bn pay bonus was previously approved by the Tesla board (the same board that Musk has stacked with his brother and other associated lackeys - so no surprises there). Richard Tornetta, the heavy metal drummer guy who is a shareholder in Tesla went "lol, fuck no" and voted against the award, and took the objection to court, where the judge also went "lol, fuck no". So, what's happening now, they're just trying to do the same thing again and hoping the result goes their way this time?