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It would be a good thing for the company, no doubt, but it might crash the stock price.
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Not for the current shareholders who haven’t had the opportunity to cash out their vastly overpriced shares it wouldn’t.
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Tesla shareholders really like this Tr*mp’s spiritual successor treating them like his piggy bank.
Do the board not realize Mush doesn’t have the leverage he thinks he does. Most his wealth is tied to Tesla meme stocks. If he leaves, he will be pissing away that wealth. The guy is cash poor. His demand is like asking your creditor to give you more credit so you can get more into debt or else… you will get more into debt? He is not to be trusted to manage his own desk drawer, not talking about companies.
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Nope.
It reminds me of those 1970s mall robots, with one guy controlling it, and another doing the voice.
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That seems a bit much based on projected futures. How about a lesser raise - say L5?
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Like Cruise robotaxis?
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i’m not by far the biggest musk fan however his ask isn’t that bad to me, and i am certain an arrangement could be set up where he indeed acquires 25% of tesla; provided certain targets are met. failure to meet the targets, of course, should be costly to musk.
The Tesla board is stacked with his talentless relatives and sycophantic friends - they’re riding the grift as long as they can and would be out on their ears if a competent CEO was brought in to the company.
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“Optimus cannot yet do this autonomously, but certainly will be able to do this fully autonomously and in an arbitrary environment"
“No one has managed this yet, and certainly not us, but we’ll certainly do it, and in an even more complicated environment, no less - because if I’m going to make shit up, I might as well go all the way! Hey, at least it isn’t a guy in a robot costume anymore.”
This robot only had one guy controlling it - Cruise robotaxis require 1.5 controllers for every vehicle. Why, the robot is basically autonomous by comparison!
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The highest he’s ever had is 22%. He’s never had 25%. Due to the supermajority rules of shareholder voting in place at Tesla, this combined with the holdings of his brother meant that Musk could readily ignore proposals he didn’t like.
In 2021ish, Musk began selling his Tesla stock because it was even more stupidly overvalued than it is now (remember when Tesla’s market cap was over a trillion dollars?). I guess he and his bro (along with a whole lot of the exec) figured it would never see that valuation again. This sell-off accelerated because he opened his big mouth and ended up acquiring a social media company.
Anyway, turns out that 12% of stock and the fact that his idiot brother sold off more or less all of his holdings isn’t sufficient for him to ignore any and all shareholder proposals, so I guess Musk wants the board of directors to give him the extra shares so he doesn’t spin up a competitor to the very company he is CEO of.
What can I say, I’m glad I don’t own a Tesla. This way, I can hope it ends badly for all parties involved.
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Either it ends up badly for them both or they’ll have taxpayers (possibly worldwide) holding the bag for them.
So yeah, fuck them all.
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