this post was submitted on 31 Jan 2024
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187
Tesla shares slide after judge voids Elon Musk's $56 billion compensation (www.cnbc.com)
submitted 9 months ago by L4s@lemmy.world to c/technology@lemmy.world
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Tesla shares slide after judge voids Elon Musk's $56 billion compensation::The compensation package the Tesla board gave CEO Elon Musk set a record for publicly traded corporations, a Delaware judge noted in her ruling.

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[–] TallonMetroid@lemmy.world 19 points 9 months ago (1 children)

Defendants also argue that Musk needed additional incentives to stay on at Tesla or he would spend more time at SpaceX, where he could fulfill his galactic ambitions to establish interplanetary travel, colonize Mars, and potentially earn more money in the meantime.

Not like he even actually does anything at Tesla anyway, between all the people they've got to babysit him and his spending all his time shit posting on Twitter.

[–] gravitas_deficiency@sh.itjust.works 15 points 9 months ago (1 children)

If a person can be the CEO of multiple companies, but normal humans aren’t generally allowed to hold two of the same job “because it means we’re not giving either job our full focus”, then it stands to reason that the job of CEO doesn’t require anything approaching the full focus of a human, and thus they are being overpaid by multiple orders of magnitude.

But we already knew all that.

[–] Corkyskog@sh.itjust.works 4 points 9 months ago

It's not uncommon for a CEO to sit on other boards or multiple of them. I really never saw how C class positions were as demanding as people revered them to be.