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.
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.