If they approve an all-stock compensation package for Musk that was thrown out this year by a Delaware judge, it would almost guarantee he would remain at the company.

Tesla shareholders voted Thursday to restore CEO Elon Musk’s record $44.9 billion pay package that was thrown out by a Delaware judge earlier this year, sending a strong vote of confidence in his leadership of the electric vehicle maker.

The favorable vote doesn’t necessarily mean that Musk will get the all-stock compensation anytime soon. The package is likely to remain tied up in the Delaware Chancery Court and Supreme Court for months as Tesla tries to overturn the Delaware judge’s rejection.

Musk has raised doubts about his future with Tesla this year, writing on X, the social media platform he owns, that he wanted a 25% stake in the company in order to stop him from taking artificial intelligence development elsewhere. The higher stake is needed to control the use of AI, he has said.

  • Zaktor@sopuli.xyzEnglish
    2·
    6 months ago

    But in many cases their vote/say would decline to insignificance

    Their vote would decrease to roughly $1B / total company value. That’s not irrelevance unless you’re talking about businesses so large they’ve become major shapers or our culture and economy. And if the founder’s decisions are just amazingly awesome the new board can hire them as CEO. And then fire them when they’re an idiot. Twitter shows us the cost of autocratic control by a bad owner.

    Saying ‘why is this even a question’ when someone inquired for more information after you present a radical change to a worldwide economic concept, is just rude and thought terminating. Instead of encouraging discussion, you want to shut people down so you can get feel good points.

    If you think there is only one good way to run a business and it happens to be the way you thought up, I encourage you to self reflect.

    Lol. Yeah, it wasn’t intended to be (apparently) an attack on you and your personal belief system, but getting worked up about people being mean to literal tycoons makes me totally ok with having caused offense.