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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[–] 129 points 1 year ago (13 children)

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?

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  • [–] 84 points 1 year ago (5 children)

    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.

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  • [–] 4 points 1 year ago (4 children)

    Idk it's pretty smart, but how is he going to sell $29b of Tesla without crashing Tesla?

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  • [–] 27 points 1 year ago (2 children)

    Rich folk don't sell their stocks for daily spending money. They use the stock as collateral to take out loans at low rates then just pay the service fees on the loans. He's got to be leveraged to the tits in his current stocks so he's just giving himself more.

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  • [–] 16 points 1 year ago (1 child)

    Yeah, but the issue with that is that when the Stock starts coming down the banks will come for their money, though I guess aa the saying goes if you owe the bank a 100 million the bank is in trouble not you

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  • [+] 38 points 1 year ago* (5 children)
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  • [–] 17 points 1 year ago* (3 children)

    About that....

    The highest fatal accident rate among all car brands...

    https://www.roadandtrack.com/news/a62919131/tesla-has-highest-fatal-accident-rate-of-all-auto-brands-study/

    So you have real world data vs crash test data. I know which one I would pay attention to.

    In fairness this is largely based on how drivers use them, but we have seen people over trust the system and get into trouble. We also have seen autopilot make some serious mistakes. We also seem to have a cover up to shift blame back to the driver.

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