Tesla shareholders awarded CEO Elon Musk a pay package on Wednesday that could grant the tech entrepreneur nearly $1 trillion in compensation over the next decade.
    • Buffalox@lemmy.world
      37·
      11 months ago

      So over ten years Musk is getting about 3% of the entire US GDP for 2024!
      ONE MAN receives just above 3% of GDP! AFAIK that’s about the combined value of the productivity of 5 million people for a whole year!
      I don’t get how it’s even possible for Tesla to pay him that much? And it’s absolutely insane that stockholders think he should be paid that much?!

      • Triumph@fedia.io
        21·
        11 months ago

        They basically print money by issuing stock, then compensating with that stock.

        • wuffah@lemmy.worldEnglish
          19·
          11 months ago

          To add to that, billionaires avoid taxes by borrowing against their astronomical securities and stock assets. This is one of the reasons interest rates are of such concern to the rich.

          They can then use dividends and other liquid income to perpetually pay for the interest. If shit hits the fan, or they want to pay off the loan, then they would have to pay taxes on the income from the sale of assets.

          But if you have a trillion fucking dollars in stock, paying tax on several billion dollars isn’t comparably bad, especially when you can purchase influence by manipulating society with your own social media company and inducing corruption by getting Trump elected.

        • Buffalox@lemmy.world
          7·
          11 months ago

          It may be their plan, but I think that stock is already on shaky ground. Tesla car sales are declining and they are probably running on deficits now, and energy projects are not going anywhere fast.
          The moronic Optimus robot Tesla plans to make is already surpassed by Xpeng, with way more convincing presentation of their humanoid robot Iron, and where Xpeng uses in-house chips something Tesla doesn’t have. And robotaxi is an obvious flop that is also going nowhere. Everything Tesla is falling more and more behind.

          How that stock hasn’t already collapsed IDK.

          • Triumph@fedia.io
            3·
            11 months ago

            Oh sure, the stock price is shaky because Musk is a Nazi and people recognize it, as well as their products not at all living up to the hype, and Musk doing things like only using cameras for any self driving.

            The Musk compensation package itself won’t effect the stock price, though, unless you count it as “throw it on the pile of injustice”.

            • Buffalox@lemmy.world
              3·
              11 months ago

              The Musk compensation package itself won’t effect the stock price

              Maybe not as long as it’s just a piece of paper, but as soon as this compensation begin to actually have to get paid, you can bet it will have an impact.
              I sincerely hope the Norwegian fun pulls out, and even if they try to do it slow to not impact the stock value to much to get as much out as possible, there is no way you can put 5% of the stock back to the market without it having an impact.

              • Triumph@fedia.io
                2·
                11 months ago

                It’s not in the market, though. It’s in Musk’s account, and that’s where it’ll stay (for the most part). Especially options.

                • Buffalox@lemmy.world
                  2·
                  11 months ago

                  Doesn’t matter, when the stock is registered it’s diluted, and will impact the numbers in earnings per share, and the total stock value of the company.
                  You can’t just issue stock, to increase the value of the company, the stock price will always go down when you issue a significant amount of stock.

            • krashmo@lemmy.world
              1·
              11 months ago

              There’s a fair amount of EVs on the market in the US that aren’t Tesla’s or Chinese. It’s a market segment growing every year.

        • NotMyOldRedditName@lemmy.world
          2·
          11 months ago

          Ummm dude that’s not how that works.

          No money gets created.

          All existing share holders get diluted. The shareholders are paying Musk if this happens. When he gets a paid a tranche, the stock price will dip because of the dilution.

          Edit: like if Musk magically met all the tranches on the last day, and Tesla was worth 8.5 trillion. It’s not going to suddenly be worth 9.5 trillion the next day. The price will go down.

    • meco03211@lemmy.world
      16·
      11 months ago

      The difference between 1 million and 1 billion is about 1 billion. The difference between 1 billion and 1 trillion is about 1 trillion.

    • cloudy1999@sh.itjust.works
      1·
      11 months ago

      The BBC had a segment on tonight claiming that a stack of $100 bills reaching 1/3 the distance to the moon is worth $1 trillion.

  • Enkrod@feddit.org
    40·
    11 months ago

    1 trillion dollars divided by 8 billion humans could pay each and everyone if us 125 dollars, which would go a long way in poor regions.

    Or, framed differently: Tesla stole 125 dollars from every human alive to give it to Elon Musk.

  • BlameTheAntifa@lemmy.world
    30·
    11 months ago

    I can also run a successful business into the ground, and I would do it for a lot less money.

    Edit

    I saw a meme earlier and adapted it from billions to trillions. It is a literally unimaginable number.

    How Much Is A Trillion?

    • 1 million seconds = about 12 days

    • 1 billion seconds = about 32 years

    • 1 trillion seconds = about 31,710 years. This long ago was the beginning of the last ice age, and before the invention of rope.

    • 1 million minutes ago was approximately 2 years ago

    • 1 billion minutes ago was the year 114 AD,

    • 1 trillion minutes was 1.9 million years ago, the time of the earliest known homo erectus fossils, distant ancestors of modern humans.

    • 1 million hours ago it was the dawn of the 20th century (1901)

    • 1 billion hours ago was 114k years ago, the time when neanderthals first began using seashells as personal decorations. The Sahara desert is a marshland.

    • 1 trillion hours ago was 114.2 million years ago, the Cretaceous period, time of dinosaurs like the Stegosaurus and Triceratops, and the time when bees first evolved. Humans would not evolve for millions more years.

    • 1 million days ago it was about 700BC, Rome was a small village and writing had only just begun to spread.

    • 1 billion days ago was 2.7 million years BC. If all the time since then were compressed to one year, all of recorded history would be just a couple of hours.

    • 1 trillion days ago was 2.7 billion years BC, and the only life on earth were single-cell organisms. Pangaea did not exist yet.

    The entire universe is only 13.8 billion years old, so 1 trillion weeks ago is older than reality itself. That’s how much money Musk was just paid for destroying Tesla.

    • Jarix@lemmy.world
      2·
      11 months ago

      1 trillion hours ago was 114.2 million years ago, the Cretaceous period, time of dinosaurs like the Stegosaurus and Triceratops, and the time when bees first evolved. Humans would not evolve for hundreds of millions more years.

      You fucked this up.

      By your own logic humans wouldn’t evolve for at minimum another 85.8 million years from today, which is obviously weekend because humans wrote both my statement and yours so we already exist

  • Fedizen@lemmy.world
    18·
    11 months ago

    Tesla is still one of the smallest car companies by actual amount of produced goods and their values

    • SaveTheTuaHawk@lemmy.caEnglish
      3·
      11 months ago

      But the stock is a religious cult. Frankly, cults are a way to make good steady money, ask the Mormons.

    • CharlesDarwin@lemmy.worldEnglish
      4·
      11 months ago

      It’s pretty obvious now that being a CEO is a part-time job. If only everyone could get 1 trillion at a part-time job.