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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[+] 69 points 1 year ago (9 children)
  • [–] 23 points 1 year ago (4 children)

    Saudis keep dumping money into the stock. Its almost like a combo of money laundering + destabilizing the US government.

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  • [–] 13 points 1 year ago

    The shareholders, who are not starving by any means, dont mind lower earnings per share as long as their political machinations are being carried out. The world's largest capital equity firms have all gotten onto the musk bandwagon believing that his vision for the future is good for their funds.

    The overvaluation is more designed to fund the schemes of musk, who wants to break the US up into fiefdoms.

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  • [–] 4 points 1 year ago

    If you mentioned that Tesla is losing its competitive edge as EV manufacturer, most Tesla stock fans would quickly correct you that the company isn't just about that, it's also an AI company. I think the company is leveraging other competencies to future proof itself to market shocks; which makes sense since Musk stole personal information from the federal government to train his AI.

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