RealTesla

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dragontamer

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[Threads] Musk demanding a $53 billion payout would be the equivalent of (www.threads.net)

submitted 7 months ago by dragontamer to c/realtesla

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A nifty little @threads post by esg.hound.

Probably a good time to point out that Tesla's total revenues since inception are $338 billion. Total Gross Profits are 73 billion and net income is 27 billion. Musk demanding a $53 billion payout would be the equivalent of

16% of total revenues since 2009

72% of gross profits since 2009

195% of net income (i.e. real economic profits) since 2009

It's lunacy and completely detached from reality

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[–] polygon6121 -5 points 7 months ago (1 children)

Isn't this bonus based on the stocks performance? I agree that it is incredibly stupid. But if the contract checks out they should honour it. Tesla would probably not exist in its current form if it wasn't for Elon Musk.

[–] dragontamer 8 points 7 months ago (1 children)

The contract was determined to be null-and-void because Elon Musk (the largest shareholder) was working with Elon Musk (the Chairman of the Board) to determine Elon Musk's salary (the CEO).

There's a bit of squabbling at the Board of Directors stage, as there's more people involved. But it turns out that the Board of Directors acted entirely like Elon Musk sycophants. The Court of Delaware was not amused at this obvious and massive scale corruption where Elon Musk loyalists set the wage of Elon Musk.

[–] polygon6121 2 points 7 months ago

Oh thanks for the explanation... Fuck Elon Musk.. is there anything not rotten coming from his direct involvement.