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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[+] 221 points 1 year ago (15 children)
  • [–] 143 points 1 year ago (4 children)

    a cult where he entirely controls the board, which is contrary to how large corporations are supposed to work

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  • [+] 35 points 1 year ago (3 children)
  • [–] 10 points 1 year ago

    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.

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  • [–] 13 points 1 year ago

    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.

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  • [–] 6 points 1 year ago

    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.

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  • 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!

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  • [–] -3 points 1 year ago* (2 children)

    Tesla stock is not tanking. Their cars are still selling all over the world.

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  • [–] 6 points 1 year ago (1 child)

    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/

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  • [–] 0 points 1 year ago

    That is true, but a million cars per year is still not quite nothing even if it's much worse than last year.

    Like I said, the valuation of the stock is very weird and even though I've made money on the stock earlier, I wouldn't currently touch it with a long pole.

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