Elon Musk demands another huge payday from Tesla | CNN Business
www.cnn.com
Elon Musk says he wants a significantly larger stake in Tesla than the one that already made him the richest person on the planet.

In a series of posts on X Monday night, Musk said that he would not want to grow Tesla to become a leader in artificial intelligence and robotics without a compensation plan that would give him ownership of around 25% of the company’s stock. That would be about double the roughly 13% stake he currently owns.

Just casually asking for a roughly 80 Billion dollar pay raise. But at this point would Tesla be better off without him?

  • No1@lemmy.worldEnglish
    42·
    8 months ago

    Every time I leave my house, I see dozens of Teslas driving around. If they’re not profitable, then they’re horrifically bad at making money. They’re ubiquitous. Pretty impressive market penetration for a business run by people who don’t know what they’re doing.

    • Voroxpete@sh.itjust.worksEnglish
      20·
      8 months ago

      Their single biggest revenue stream is selling carbon credits. They’re basically a regulatory arbitrage business with a side hustle in cars.

      • LilB0kChoy@midwest.socialEnglish
        111·
        8 months ago

        Just like Amazon who is a cloud computing company with a side hustle in e-tail or Google which is an ad company with a side hustle in tech.

        In general most people don’t really understand this about big companies.

        • guacupado@lemmy.worldEnglish
          41·
          8 months ago

          Yeah but in their cases the “hustle” got them the funds to move into their current space. Musk just had so much money that Tesla outlasted all the red it was in. Same thing going on with Twitter.

          We all know it’ll never fully go under, he has too much money for it too. It’ll last long enough to sooner or later come back up.

          • LilB0kChoy@midwest.socialEnglish
            2·
            8 months ago

            We all know it’ll never fully go under

            No, it likely won’t, and part of that is also because of who’s invested in the company’s success. Just another example of “too big to fail”.

          • Hypx@kbin.social
            11·
            8 months ago

            That depends on how bullshit the numbers really are. If it is just Jack Welch level of financial shenanigans, you can see a stump version of the company eventually surviving. If it is worse than that, then probably not.

    • Hypx@kbin.social
      61·
      8 months ago

      Enron was a huge business that had millions of customers. It just happened to lose money while doing so. The crime was that they hid that last part.

      • Optional@lemmy.worldEnglish
        3·
        8 months ago

        Also they deliberately turned off people’s power for more money. Like, scum-of-the-earth.

    • Riven@lemmy.dbzer0.comEnglish
      2·
      8 months ago

      Might be area dependant. Lots of them where I work at not many at all where I live at about an hour away.