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

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.

  • psycho_driver@lemmy.world
    23·
    5 days ago

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

    • etherphon@midwest.socialEnglish
      10·
      5 days ago

      I’m sick of this make believe economy where things aren’t worth their actual value but however much they’re being propped up by bullshit and wealthy investors. I just can’t take anything seriously anymore.

    • ChickenLadyLovesLife@lemmy.worldEnglish
      3·
      5 days ago

      My half-baked theory is that the Saudis backed Musk’s takeover of Tesla with the idea that he would fuck the company up and completely discredit electric cars. And despite his best efforts, Teslas became incredibly popular anyway.