Joe.My.God. LGBT News
NBC News reports:
Tesla CEO Elon Musk won the backing of shareholders Thursday in his fight to reclaim a $56 billion pay package voided by a Delaware judge who ruled the record-breaking compensation was excessive.
Shareholders voted in favor of restoring the package they approved in 2018, Brandon Ehrhart, Tesla’s general counsel and board secretary, announced on stage at the company’s annual shareholder meeting. He did not announce the vote totals.
The crowd at the meeting in Austin, Texas, cheered after the announcement, according to the livestream of the event.
Reuters reports:
Musk told shareholders that Tesla would monetize an autonomous vehicle fleet by allowing owners to put their cars into an app when they aren’t using them.
Like AirBnB or Uber, “you can add or subtract a car to the fleet whenever you want. So you can say, like, I’m going away for a week, just one tap on your Tesla app, your car gets added …. and makes money for you while you’re gone.”
If Tesla had a 10% market share and sold each one for $20,000, “Tesla would basically make about a trillion dollars of profit a year,” he said.
BREAKING: Tesla shareholders just voted to give Elon Musk $56 billion.
This outrageous pay package is over $55 billion more than the CEO of Google gets.
The vote allows Musk to further enrich himself, even as Tesla falters as a company and fires thousands of workers.
— More Perfect Union (@MorePerfectUS) June 13, 2024