4w ago

Tesla awards CEO Musk millions in shares valued at about $29 billion

abcnews.go.com Tesla awards CEO Musk millions in shares valued at about $29 billion

Tesla is awarding CEO Elon Musk 96 million shares of restricted stock valued at approximately $29 billion, just six months after a judge ordered the company to revoke his massive pay package

Tesla is awarding CEO Elon Musk 96 million shares of restricted stock valued at approximately $29 billion, just six months after a judge ordered the company to revoke his massive pay package.

The electric vehicle maker said in a regulatory filing on Monday that Musk must first pay Tesla $23.34 per share of restricted stock that vests, which is equal to the exercise price per share of the 2018 pay package that was awarded to the company's CEO.

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"While we recognize Elon's business ventures, interests and other potential demands on his time and attention are extensive and wide-ranging ... we are confident that this award will incentivize Elon to remain at Tesla," the committee said in a regulatory filing on Monday.
But... that moron is the reason the stock is tanking and people shifting to other manufacturers. Why in the flying fuck would they PAY to keep him. What kind of a cult are they running.
- a cult where he entirely controls the board, which is contrary to how large corporations are supposed to work
  
  But he only hold 13% of the stock. Any of the other stock holders could pretty easily group up and remove him, if they wanted to. It's not like the Zuck who is a permanent 51% vote owner.
  I suppose it's possible that he has more voting rights that owning rights, but still. A 37 point difference would be massive.
- They "ran the numbers" and decided he was still more valuable as the genius face of the company (that continually shits on the name of Nikola Tesla... which is actually saying a lot since homeboy clearly drank a lot of lead paint) than as someone actively trying to destroy the company. Err, actively trying to destroy the company he no longer has a financial interest in.
  Increasingly, the teslacorp consumerbase is just nazis and tech bros who don't want to admit they are nazis. If musk were to get up on stage and start reading /r/cyberstuck or whatever, it would very much zero out that stock.
- Tesla is a dictatorship. When the world's richest dickhead invested so heavily in Tesla after Martin Eberhard and Marc Tarpenning founded it, what he bought was control over Tesla's entire future. He, in that moment, became Tesla's board of directors. This payout of shares to incentivize him to stay isn't what that really is. It's himself, god emperor of Tesla, giving himself a higher percentage of control over the company. He's making it harder for any other ownership group of the company to oust him. He's entrenching himself deeper to ensure the enrichment machine continues to benefit him specifically.
- The fealty vibes are fucking comical at this point
- He probably has dirt on them. He posted to Twitter as if he had personally read the Epstein Files. In addition, he’s pawed through the most private of our government data.
  If anyone could have dirt on Tesla shareholders, it would be Elon after his walk through all of America’s data. And, possibly, the Epstein Files.
- Exactly, a cult.
  He wants to be Jerome Blake.
- Shhh. Let the shareholders award musk the shares. I look forward to Tesla going bankrupt.
- other potential demands on his time and attention
  Musk has claimed to work 100 hours a week. But: he's the CEO of five companies. If his hours claim is true (lol), that means being the CEO of just one company is a 20-hour-a-week job. CEO is a part-time gig!
- Tesla stock is not tanking. Their cars are still selling all over the world.
  
  Except they are not. Their car sales revenue is falling. Their plan to reverse it is to make their cars cheaper (crappier).
  https://arstechnica.com/cars/2025/07/tesla-q2-2025-sell-fewer-cars-and-carbon-credits-make-less-money/

To be clear, Elon Musk is the specific reason that people will not buy a Tesla. He's the kiss of death to the brand.
And Tesla wants to reward him?
- He controls the company. This is him “rewarding” himself. He’s desperately trying to cash out before the stock price tumbles because he knows their valuation is way out of hand.
  
  Idk it's pretty smart, but how is he going to sell $29b of Tesla without crashing Tesla?
- It's not just him. Teslas are some of the most unreliable, unsafe, and recalled vehicles in the industry. And the company has a long history of labor and safety violations. The rot may start at the top, but it sure doesn't end there.
  
  unsafe
  https://www.drivedata.org/car-safety-ratings/d/make/Tesla
  ok dude
- Billionaires watch out for billionaires.
  
  they have the class solidarity we lack
- Well the real business is political bribery right in the open.

How is the company possibly worth that much when no one wants the cars? This economy is complete fucking made up bullshit.
- Saudis keep dumping money into the stock. Its almost like a combo of money laundering + destabilizing the US government.
  
  I'm sick of this make believe economy where things aren't worth their actual value but however much they're being propped up by bullshit and wealthy investors. I just can't take anything seriously anymore.
  
  Almost?
  
  My half-baked theory is that the Saudis backed Musk's takeover of Tesla with the idea that he would fuck the company up and completely discredit electric cars. And despite his best efforts, Teslas became incredibly popular anyway.
- The shareholders, who are not starving by any means, dont mind lower earnings per share as long as their political machinations are being carried out. The world's largest capital equity firms have all gotten onto the musk bandwagon believing that his vision for the future is good for their funds.
  The overvaluation is more designed to fund the schemes of musk, who wants to break the US up into fiefdoms.
- https://worldpopulationreview.com/country-rankings/tesla-sales-by-country
  Quite many people still want their cars. Tesla's valuation sure is odd though.
- Because idiots look at other automakers valued in the 30-50$ range and still ape into clearly overvalued Tesla stock
- If you mentioned that Tesla is losing its competitive edge as EV manufacturer, most Tesla stock fans would quickly correct you that the company isn't just about that, it's also an AI company. I think the company is leveraging other competencies to future proof itself to market shocks; which makes sense since Musk stole personal information from the federal government to train his AI.
- "no one wants the cars" is "complete fucking bullshit". The deal was made even before Tesla became a household name. It just took years to go through some lawsuits. The pay package is high because from 2018-2024, the world did in fact want the cars. What happened since Elon installed Trump doesn't affect the deal.

Must be an amazing feeling to know you’re on the spectrum, be called “removed” by your own father, then find a politician dumber than you who needs your money, and constantly fail upward thinking you’re the smartestest person ever. An actual IQ test would put him somewhere in the lukewarm category but he would buy the testing company to change the result.
- Without his money he’d be the most random, grubby, conspiracy theory loving pot head from high school. But when you’re rich everything is seen as “genius” and “innovative”.
  
  Yes, and being an asshole is being “quirky”.

Around $232,000 per employee, and all of it went to him...
- Stock is not cash.

This proves that "free market capitalism" and "competition" is a scam. I'd be happy to fuck up a company that badly for a mere $15 billion. But they won't even take my calls...
- It's “free market capitalism” for you and me, bailouts and welfare for them.
- well you see, one of the stipulations for getting this much is doing a Seig heil. Which I am sure your moral conscience wouldn't allow you to do. Or even if it did, I am sure there are a bunch of other criteria that is basically the inverse of whatever test for psychopathy they make people take at mental health institution that you must pass.
  So be glad you're not like him and don't lament that he gets a bag of money.
  
  I could do the Nixon victory pose, but yeah, best I can do.
- If you work hard and keep your head down... 😭
  
  if you work hard and keep your head down you will get cronic neck pain and fatigue because of course everybody sacrifices a good night's sleep at the altar of hustle.

Image of being a low wage worker in Tesla, and learning this.. They could have given around $230k in stock to every single one of their employees.
- Yeah but these workers are making sales possible, not driving them down with public nazi stunts.

They’ve sealed their fate. They could have pivoted, given musk the ax and said he doesn’t align with their core values, saved some face and maybe regained trust of their core demographic. Doubling down on someone who pissed off nearly everyone who cared about buying their cars is fucking idiotic.
- Every now and again I'll browse through some used Teslas, and occasionally see one that looks like a great deal.
  Even justifying it by saying "Buying a used Tesla, no money goes to Elon", I just can't bring myself to seriously consider owning one. It just feels icky, and I don't want to even be remotely associated.
  
  Be careful. You may suddenly need to drop 20k+ on a failing battery if you buy them used.
  
  He still makes money off the monthly subscription fees, especially from the idiots stupid enough to pay for FSD
- Maybe they're afraid of the dirt that he has on the company. He could potentially do more damage than it costs to keep him such as revealing that tests were faked or the Cyber truck was a friend of Epstein's
- Could they, though? It’s another cult, and if Glorious Leader leaves, so do the simps and therefore the profits.
  
  There are definitely a lot of culty fanboys out there, but I doubt they account for anywhere near the majority of Tesla customers. They’re going to see a huge sales dip this year as a result of musk’s political fuckery. Hopefully people don’t forget who he is and that sales dip continues until they go out of business. Stupid decisions should be punished.
  
  Yes?

"Hey, you know that asshole who tanked our brand? Let's give him a ton of unearned money to stick around!"
- Pretty reasonable when the board consists of your family and friends.
  
  I'm also pretty certain that the stock would absolutely tank if he left.
  He's a fucking idiot, but the current valuation has zero basis in reality outside of his personality-cult. If that's gone, all they are is a struggling mid-sized car company.

Car makers, here's your chance to prepare to take over the EV market when this meth lab finally explodes
- They already are, Tesla's sales are stagnating in a Growing market, their market share is disappearing.
  
  Yeah, Ford has been trying to hype up an event coming next week. I assume it is going to be a new line of EV's. They keep trying to call it a "model T moment.".
  I assume they'll launch a smaller EV truck, small SUV, and hopefully an actual car. If Ford actually launches 3 EVs sub $30,000 before any kind of rebates it would be great. A 20,000EV would be better, but I just don't see it happening with the lack of support or rather opposition our government has put forth.
  ”We believe the only way to compete effectively with the Chinese over the globe on EVs is to go and really push ourselves to radically re-engineer and transform our engineering supply chain and manufacturing process.”
- As far as I can tell from test driving a handful of EVs, they're not doing a very good job at it yet.
  
  I’m on my second EV. My sister has an EV. My mother is getting an EV. A friend is on his second EV. A coworker has an EV. My ex and another friend have plug in hybrids and plan to move to EVs.
  Not Tesla anywhere to be seen. None of us had ever even considered a Tesla.

More money than any person should ever have

If this isn't the best signal to you that nothing fucking matters at all and the share market is totally and utterly only some random imagination thing then i dont know what is.
Tesla sale goes down but stock price still up. CEO is one of the reasons it does and he gets rewarded for it.
Clownshow for sure

Yeah, the guy that single-handedly dropped the company's stock value by ~20% should get a nice big bonus.

pats himself in the back
good job buddy, you earned this.
- I wonder if he can ingest 29 billion worth of ketamine in the next year?
  
  I fucking wish he'd try. Just do it all in one night.

Sounds fair for turning the brand to shit. That's the corruption. Filthy evil rich.
- Aristocracy never went away.

Was just thinking this morning how it'd been a week or two since I saw this dipshits face on here.

I’m imaging them gathered around him singing “For He’s A Jolly Good Fellow” and raising their glasses to him, before presenting him with an oversized stock certificate
- You had it half right they did gather around him, but each one of them sucked him off.

This stupidity aside, Tesla is falling behind, and they don't seem willing to admit it.

Musk needs to be rewarded with a few holes in his back.
- Suicide by 3 shots to the back of the head.

I think that they are afraid that his cult following is all they have left. Tesla's record of late is very poor. The self driving software, something they have been pushing as a major feature, is buggy as hell and they've now been found liable for at least one death because of it. Plus, their manufacturing and QC is very low from everything I've seen about their cybertrucks. Anyone remember when that guy blew up himself and his cybertruck in Vegas? People literally didn't know at first if it was an attack or if it just blew up because that's what Teslas do.
In its most recent quarter, Tesla reported that quarterly profits plunged from $1.39 billion to $409 million. Revenue also fell and the company fell short of even the lowered expectations on Wall Street.
Quarterly profits dropped by more than two thirds? That is a huge hit and the shareholders must be screaming. On the one hand, between his DOGE bullshit and his general incompetence as a leader, I have to think that Musk is the cause of nearly all of this. On the other hand, it's very probably his cult following that is fueling the sales that they still have.
If Musk were to be fired or quit Tesla, I could see his cult ditching all their EVs and going back to rolling coal in their gas powered cars. And I don't think regular EV shoppers would forget about all the flaws in Teslas and start buying them just because Musk was out. Tesla sales would probably tank even further. That's my guess as to why they are so desperate to keep him around.
The electric vehicle maker said in a regulatory filing on Monday that Musk must first pay Tesla $23.34 per share of restricted stock that vests, which is equal to the exercise price per share of the 2018 pay package that was awarded to the company's CEO.
So he has to pay them for the stock first. The article doesn't say how many millions of shares, but at that price Tesla is getting a cash infusion of at least $50 million dollars, possibly much more, and they get to keep their figurehead and his cult followers for a while longer. This might be the best move they can manage considering the damage he's done to the brand.
- The company will not survive if Musk doesn't leave.
  
  It may not survive if he does leave, either. The damage is done. Who's going to buy Tesla now?
  
  Tesla will go bankrupt either way and will be bought up for pennies by competitors
- EU EV sales are falling, Tesla used to dominate sales, now they don't even make it to top 5 in europe.

What a great use of their money! The free market always knows best! /s

Damn for a community so knowledgeable on tech, ya'll sure got a lot to learn about stocks lol.
So this is a power move by the rest of the board member of Tesla. RSUs arent considered tangible assets by the IRS. Meaning Tesla will be forcing Elon to pay the full value of the shares as income tax the year they were vested.
Plus the company issuing the RSUs have a security blanket where a company can defer issuing shares until the vesting schedule is complete, which helps delay the dilution of its shares. On top of any scenario where the employee/person holding the RSUs leave the company before the conclusion of their vesting schedule, they forfeit the remaining shares to the company.
They're usually used as incentive to keep employees at a company so here's where I hit the logical brick wall... what fuckin incentive do they have to keep must around unless theyre just betting that captain adhd jumps ship before the stocks are vested.

The money aspect doesn't mean much to him. What he wanted is more control of Tesla, so he can do even stupider shit with the company.

Makes sense honestly. The only thing holding the stock price aloft of his lunatic followers' unwaivering belief in his greatness.

Failing his way to greater riches. Only in America.

I too would love to receive 29 billion dollars for running a company off a cliff but I'm not corrupt to the bone

It's a cult.

The meritocracy at work.

Didn't Tesla just lose* a huge legal settlement regarding autopilot?
Idk if a large sell dump is happening soon but I'm sure there will be some effects.

Real question because I don't know stocks: Would this be where you'd short it?
- Normally I'd say yes, but I've been saying people should short Tesla for 7 years now, and if I'd stuck with that I'd be flat broke.
  
  I'm sure they'd find a way to keep manipulating it so that shorting it continues to be the losing play

Proving the obsequious nature of Tesla's board. Knowing that he is pulling them down, still too afraid of going another direction and incurring his wealth hoarding wrath. So instead reward him like a tythe to the mafia.

Short everything this guy has touched.

Heil, Shitler!

Shareholders should look at uber. It’s totally fine to change the leader.
- Or Apple, Microsoft, or any of the companies that have been around for 100+ years. Look at John Deere, they are evil but people still buy their shit.

- These image generators are good for one thing!

29b for sinking the company? If any of us sinks a company, it's usually way worse.

Insane

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