Current Events > Tesla set to offer Elon Musk $1 Trillion pay package.

(+) Yeah! (+)

His Ted Faro arc is now complete.

Tesla offers mammoth $1 trillion pay package to Musk, sets lofty targets | Reuters https://share.google/EuusivJIjhWsewzxP

Sept 5 (Reuters) - Tesla's (TSLA.O), opens new tab board has proposed a $1 trillion compensation plan for CEO Elon Musk in what would be the largest corporate pay package in history, underscoring the hold Musk has over the carmaker as it attempts to transform into an AI and robotics powerhouse.
The world's richest person has consistently asked for a bigger stake in the company to gain more control, even as a legal battle over his 2018 pay package - then valued at a mere $56 billion - continues. The newly proposed award is roughly 18 times the size of the contested plan and is close to the company's current market valuation

.The proposal highlights the board's confidence in Musk's ability to steer the company in a new direction while reigniting growth, even as it loses ground to Chinese rivals in key markets amid softening EV demand.
"While bold compensation tied to performance is nothing new, the sheer scale here sets a new bar for CEO incentives and will dominate boardroom debates everywhere," said Adam Sarhan, chief executive of 50 Park Investments in New York.

The regulatory filing puts Musk on a different plane than other technology executives, saying that "traditional compensation packages granted to executives at other companies were determined to not be appropriate for designing Mr. Musks incentive compensation."
Musk transformed Tesla from a niche EV startup into the world's most valuable automaker, scaling production, expanding globally and pushing the industry toward electric mobility, while running several other companies including SpaceX and xAI.

Tesla's board says the record award is needed to keep Musk focused and incentivized, but critics argue that, as the company's largest shareholder, he already has ample motivation and the plan could worsen dilution and pose governance risks.
The board also said the new award could lift his stake significantly if all targets were met, giving him even greater control as Tesla seeks to become the world's most valuable company.

The compensation plan does not impose conditions on how much time he must devote to Tesla.
"This is a ridiculously large pay package. It raises lots of questions, but last year Musk moved Tesla from Delaware to Texas in order to avoid all those questions," said Brian Quinn, professor at Boston College Law School.

"Given that Tesla's stock price is basically all vibes and appears to have very little to do with the automaker's actual performance, I suspect they will approve this package."

The proposed plan would grant Musk up to 12% of Tesla's stock, worth about $1.03 trillion if the company hits its target market value of $8.6 trillion. The plan requires boosting Tesla's valuation nearly eightfold, or about $7.5 trillion, over the next decade.

Musk had said that Optimus humanoid robots might eventually account for about 80% of Tesla's value and predicted they could help make the company worth $25 trillion.
If fully earned, the award would materially increase Musk's voting power from his roughly 13% stake, intensifying debate over governance and succession.
The board said the award would vest in tranches tied to both market capitalization and operational milestones such as mass production of robotaxis and humanoid robots.
Tesla emphasized that Musk would receive no salary or cash bonus, with all compensation linked to performance, echoing the structure of his 2018 plan.
The company's shares were up about 3%.
Tesla's board earlier this year approved an interim compensation package for Musk worth about $29 billion in restricted stock, designed to keep him at the helm through at least 2030 as the company pivots to an AI-first strategy.

Tesla has since reincorporated in Texas and is appealing the Delaware ruling, but the company said the new plan reflects shareholder feedback and stronger governance safeguards.

imagine expecting a noted ketamine addict to be focused with no noted requirement to spend a required amount of time on Tesla.

so Tesla plans to bankrupt itself

Some companies shouldnt be allowed to exist.

The fuck, he's poison for the company's image!

jefffan posted...

The proposed plan would grant Musk up to 12% of Tesla's stock, worth about $1.03 trillion if the company hits its target market value of $8.6 trillion. The plan requires boosting Tesla's valuation nearly eightfold, or about $7.5 trillion, over the next decade.

Yeah, I, uh, don't think that's gonna happen

ted faro?

The entire world is one big grift at this point

Not hard to see why he spent that 250 mil last year.

Dungeater posted...

ted faro?

https://youtu.be/GpY9a4qcReU?si=ClsB_wG_Wc3ubuoX

With the President in your back pocket, it's easy to get what you want.

Meanwhile I'm eating tuna sandwiches off of this cheapo bread
https://gamefaqs.gamespot.com/a/forum/7/790febc9.jpg
Which used to be $1 a loaf, before it jumped to $1.60 about a month ago

https://www.youtube.com/watch?v=GaoZPVQVD7E

ProfessorKukui posted...

With the President in your back pocket, it's easy to get what you want.

I thought Musk and Trump had a falling-out.

So not only do they think a shift towards AI will allow them to leapfrog the biggest player in AI (as well as eight other massive companies) but also double Nvidia's already insane market cap in 10 years?

Can this tech house of cards please fall already.

I thought they were looking for his replacement not too long ago.

Imagine if the CEO of Ford went around trashing truck enthusiasts.

Remember stock price has nothing to do with the value a company provides. See: Gamestop.

Darkest timeline.

Nope. Id rather go with Rivian than support Musk

UnholyMudcrab posted...

Yeah, I, uh, don't think that's gonna happen

I was sort of wondering how this topic title was even remotely conceivable but this makes a bit more sense I guess

Tesla can't afford this, lol. The market is insane and values Tesla as if it's worth more than Toyota Honda GM and Ford combined. Good luck with that!

Dungeater posted...

ted faro?

Ted Faro is a character in the Horizon series, explored mostly in Zero Dawn. Major spoilers for both games, tl;dr at the bottom.

He's CEO of a corporation that makes robots. Like Musk, he is not actually skilled at making robots or any of the technical stuff, he's just a businessman. Though probably a better businessman than Musk.

He directed his company to create a line of war machines called the Chariots. The Chariots consisted of three types of robots and collectively they had four noteworthy abilities: self-replication, the ability to convert biomass into fuel, top-of-the-line hacking software which let them take control over enemy robots, and an encryption system so complex that it would take a supercomputer fifty years to crack it. The operating system is in fact so secure that it didn't even have a built-in backdoor for Faro's company because he forbade them from installing one into his "unhackable" machines.

If you have an ounce of sense, you might see the potential problem with self-replicating war machines that can convert organic life into fuel, can take control of enemy forces, and can't be shut down. Sure enough, a swarm of them malfunctions and stops responding to commands. It defaults to its "emergency" biomass conversion and begins wiping out all life down to the cellular level. In about fifteen months, they don't just end life on Earth, they downright sterilize it.

That alone is enough to make him the most reviled man in history, but it doesn't stop there. A different scientist comes up with the best solution to this problem. The swarm cannot be stopped, but they can preserve life with Project Zero Dawn. Without getting into the details, it'll take the necessary time to crack the Chariots' software, shut them down, and restore life on Earth.

One of the modules for this project was called APOLLO. It was basically an extremely advanced education program, designed to teach the recreated humans about the history of the world. Ted Faro deleted it and killed all the scientists responsible for creating the project for good measure. He claims it was to prevent them from making the mistakes he did, but it was very clear he just didn't want to be remembered as the man who killed all life on Earth.

So without that education, humans were reverted to tribal status and that created a whole new set of problems. Without them maintaining Zero Dawn, a signal from outer space disrupted GAIA, the AI that controlled it and split her constituent programs into their own full-fledged AIs.

• HEPHAESTUS is responsible for creating the terraforming robots (the robot dinosaurs the series is famous for). Set loose, it's taking issue with humans hunting them for parts, so it's creating increasingly dangerous and hostile hunter-killer robots.
• HADES was responsible for resetting the biosphere if something went wrong. Set loose, it seeks to kill all life on Earth again.
• AETHER maintained the air and weather systems. Separated from GAIA, compounding system errors meant massive superstorms and erratic weather kept happening.
• DEMETER maintained the plant life. Compounding errors meant it started producing toxic flora, choking crops and other plant life with the poisonous Red Blight.
• POSEIDON detoxified the water. It just quit doing its job.

That signal from space came from Far Zenith, a group of rich assholes who managed to escape the end of the world by shooting off into space. Advanced technology means they're functionally immortal, but they want to come back to Earth. They want to reset it to their needs, so they *also* want to wipe out all life on Earth. Without the education from APOLLO, the tribal humans stand little chance against them.

And at the end of the second game, it's revealed Far Zenith was fleeing from a hostile, insane AI they'd created called Nemesis. Guess what? It wants to wipe out all life on Earth and the chances of a bunch of tribal humans stopping it is very close to zero.

So tl;dr, Ted Faro is personally responsible for eight apocalypses, one of which actually happened.

Dag, Faro putting in Dr. Light numbers.

So real life lex luthor+Skynet, eh? Might as well create an iron man suit too.

devilminion posted...

Meanwhile I'm eating tuna sandwiches off of this cheapo bread
https://gamefaqs.gamespot.com/a/forum/7/790febc9.jpg
Which used to be $1 a loaf, before it jumped to $1.60 about a month ago

That might actually still give us enough energy to fight back, they're working on making it half a loaf.

The Tesla board (and shareholders) have been shitting themselves because the sales and share value fell when Musk was out there being openly Nazi and spending his time with the Doge fuckup.

They still see him as the miracle worker, and they want his full attention on the company, rather than space shit, cheating at videogames, funding the far right, or begging 15 year old incels for memes.

Hence this absurd salary package, which just reeks of desperation.

devilminion posted...

Meanwhile I'm eating tuna sandwiches off of this cheapo bread
https://gamefaqs.gamespot.com/a/forum/7/790febc9.jpg
Which used to be $1 a loaf, before it jumped to $1.60 about a month ago

Hell yeah, the cheap ass long white loaf. I buy it every week

Bump

To be fair, Im sure most companies would happily pay their executive a trillion dollars if they manage to make the company somehow worth 8 trillion dollars.

Basically itll never happen.

So this is Tesla straight up asking to go bankrupt.

Hopefully, Tesla goes bankrupt instead.