Elon Musk's pay package granted in 2018 was the largest compensation plan in U.S. history for a public company executive.

Summary

A Delaware judge upheld her earlier decision to void Elon Musk’s $56 billion Tesla CEO pay package, ruling it was improperly granted due to Musk’s control over Tesla and flawed board negotiations.

Tesla’s attempt to overturn the ruling through a shareholder vote was rejected, with the judge warning against revising judgments with new facts post-trial.

Musk called the ruling “absolute corruption” and plans to appeal.

Meanwhile, Musk’s net worth has surged, driven by Tesla’s stock jump following optimism about his alignment with Trump’s policies.

  • partial_accumen@lemmy.world
    152·
    22 days ago

    If you have a salary that’s in the hundreds of thousands and you think that you’re doing well? You’re just not very poor. You’re basically a slave. You’re a slave with bells and whistles.

    Poor isn’t a measure of wealth compared to others. It also means “with less resources than you need to survive in a healthy way”. For most people $100k/year will let you survive in a healthy way. Above a certain dollar figure, having more money doesn’t let you live better, it just gets spent on unnecessary crap (or stacked up and hoarded).

    • ECB@feddit.org
      10·
      22 days ago

      In the short-term: yes.

      In the mid- to long-term: obscene inequality (like we are seeing currently) inevitably leads to awful awful things…