421
submitted 3 weeks ago by MicroWave@lemmy.world to c/news@lemmy.world

Summary

A Delaware judge upheld her earlier decision to void Elon Musk’s $56 billion Tesla CEO pay package, ruling it was improperly granted due to Musk’s control over Tesla and flawed board negotiations.

Tesla’s attempt to overturn the ruling through a shareholder vote was rejected, with the judge warning against revising judgments with new facts post-trial.

Musk called the ruling “absolute corruption” and plans to appeal.

Meanwhile, Musk’s net worth has surged, driven by Tesla’s stock jump following optimism about his alignment with Trump’s policies.

top 30 comments
sorted by: hot top controversial new old
[-] FuglyDuck@lemmy.world 99 points 3 weeks ago

Good to see.

this probably hurts him more than me saying he's an incompetent nepo baby. (the best way to hurt rich fucks is to hurt their wallet, after all.)

[-] Sterile_Technique@lemmy.world 49 points 3 weeks ago

the best way to hurt rich fucks is

with a guillotine.

[-] FuglyDuck@lemmy.world 9 points 3 weeks ago

The guillotine was actually meant to be painless. Properly constructed and sharpened it pretty much is. Or so I’m told.

[-] Auli@lemmy.ca 5 points 3 weeks ago

The brain is alive for minutes afterwards so don't know what it would feel like.

[-] oyo@lemm.ee 5 points 3 weeks ago

Eh, I think all those pain receptors in your neck will send signals to your brain just fine, for a while.

[-] FuglyDuck@lemmy.world 4 points 3 weeks ago

maybe you have a point. But can I loot all his money first and make him watch as i donate it to trans rights, maybe also some no-kill shelters. you know puppies and kittens. also, maybe end homelessness and take a bite out of world hunger?

[-] Duke_Nukem_1990@feddit.org 2 points 3 weeks ago

Nah, the sudden loss of blood pressure sends you into shock immediately.

[-] Sterile_Technique@lemmy.world 2 points 3 weeks ago

While a quick and painless death certainly falls short of the misery they cause, I'm more concerned about ending that misery to the masses; it's not so much about punishing the oppressors. ...even if they do deserve to be skinned alive and then drowned in a pool of lemon juice; that's just more work than it's worth.

[-] dohpaz42@lemmy.world 27 points 3 weeks ago

Unfortunately his wallet isn’t hurting. He’s still rich.

[-] Breezy@lemmy.world 11 points 3 weeks ago

So what you're saying is, more hurt!

[-] coyootje@lemmy.world 11 points 3 weeks ago

I think hurting his ego also hurts him, just look at the amount of people that get banned from X for doing it.

[-] takeda@lemmy.world 11 points 3 weeks ago

That sum is close to the 44 billion spent on Twitter, could that somehow be the payment for it via inflating Tesla stock price?

[-] Free_Opinions@feddit.uk 4 points 3 weeks ago

Probably? I'm fairly certain that saying mean things about Musk on Lemmy has no effect on him whatsoever.

[-] FuglyDuck@lemmy.world 11 points 3 weeks ago

You’re right. I’d say mean things about him on twitter, but that requires a twitter account… and that’s just gross.

[-] betterdeadthanreddit@lemmy.world 3 points 3 weeks ago

I do like knowing that anywhere that assclown's name comes up (or other deserving parties), somebody will chime in with an insult or five. He'll never see it in almost any conceivable universe but on the off chance that this is the one where he's browsing !news@lemmy.world comments, at least we can make sure they're not all neutral or positive.

[-] Metz@lemmy.world 48 points 3 weeks ago

I just leave one quote here:

According to the Department of Housing and Urban Development, it would cost $20 billion to end homelessness in the United States.

[-] Corkyskog@sh.itjust.works 19 points 3 weeks ago

Here is a fun fact, if every church housed 2 homeless people, there would be no homeless in America.

[-] WhatYouNeed@lemmy.world 6 points 3 weeks ago

As if a church would give a damn about the needy.

[-] CM400@lemmy.world 18 points 3 weeks ago

Excellent comment. I donated to Coalition for the Homeless in your name.

[-] Metz@lemmy.world 2 points 3 weeks ago

Hey thank you, I feel honored!

[-] fuzzywombat@lemmy.world 38 points 3 weeks ago* (last edited 3 weeks ago)

It boggles my mind why anyone would still be holding onto Tesla stock right now. The board and the Musk are actively trying to screw them over right now and one judge barely managed to prevent shareholders from getting shafted. How does it make any sense to hold onto Tesla shares at this point?

[-] Blackmist@feddit.uk 17 points 3 weeks ago

Because he's going to make money hand over fist when Trump's "road safety" department allows Tesla to operate unsafe robo taxis.

[-] fuzzywombat@lemmy.world 10 points 3 weeks ago

If those robo taxes are working off of similar system to their half baked self driving tech, it would be a disaster. I keep seeing videos of Waymo taxis clogging up the streets of San Francisco and those things have much better suite of sensors than Tesla. It's insane that our public road has become a alpha/beta testing platform for bunch of tech bros.

[-] Blackmist@feddit.uk 4 points 3 weeks ago

It's OK, they'll have a fully qualified team of crack operatives, ready to take over if the car needs human assistance!

And by that they mean a guy in Bangalore, being paid $1 an hour to stare at 20 screens all day, hoping to Vishnu that he doesn't kill anybody today.

I'm assuming that it's the same shitty self driving tech they have now, only instead of you sat there ready to take over when it decides it can't be bothered or veers into oncoming traffic, some other poor schmuck will be doing it instead. Only with an extra second of latency.

People will die.

[-] Sabata11792@ani.social 12 points 3 weeks ago* (last edited 3 weeks ago)

That is the company than owns and operates the US president elect. People are going to shovel money into that as long as morons think Trump is doing a good job

[-] cybersandwich@lemmy.world 9 points 3 weeks ago

Tesla stocks (and quite a few other company's stocks) are not based on 'fundamentals'. They are based on hype, speculation, and perceived future value.

People investing in tesla either 1. Are 'playing the game' and trying to take advantage of the hype. Which incentives them to also hype because they benefit when more people buy the stock. Think crypto bro-esque grifting. Id also throw in people who do short term trading to time hype jumps. 2. Novice/uninformed investors who don't understand fundamentals (who may be getting boozled)3. People that understand fundamentals but are also hedging against a miracle.

Elon isn't a stupid guy. There is a reason why Musk is constantly hyping things. It keeps the stock high. It's keeps the buzz going which gets more people to buy in. It keeps him rich which lets him do silly things like buying Twitter or donating to political campaigns and ingratiating him to the president elect.

But the overall valuation of Tesla absolutely, unequivocally is not based on fundamentals/realistic valuation of the company. It's almost all a "bet" and people buying stocks are gambling.

[-] Corkyskog@sh.itjust.works 3 points 3 weeks ago

Market is irrational

[-] RememberTheApollo_@lemmy.world 28 points 3 weeks ago

When you've essentially already got everything the only thing to do is try to get more.

[-] DeadWorldWalking@lemmy.world 16 points 3 weeks ago

Every rich person has a hoarding mental illness

[-] NutWrench@lemmy.ml 5 points 3 weeks ago* (last edited 3 weeks ago)

ruling that Musk had individually “controlled Tesla” and dictated the terms of his compensation to a board that didn’t fairly negotiate.

I'd like like to know more about the makeup of this "board" who I assume were all hand picked by Musk.

this post was submitted on 03 Dec 2024
421 points (100.0% liked)

News

23655 readers
2412 users here now

Welcome to the News community!

Rules:

1. Be civil


Attack the argument, not the person. No racism/sexism/bigotry. Good faith argumentation only. This includes accusing another user of being a bot or paid actor. Trolling is uncivil and is grounds for removal and/or a community ban. Do not respond to rule-breaking content; report it and move on.


2. All posts should contain a source (url) that is as reliable and unbiased as possible and must only contain one link.


Obvious right or left wing sources will be removed at the mods discretion. We have an actively updated blocklist, which you can see here: https://lemmy.world/post/2246130 if you feel like any website is missing, contact the mods. Supporting links can be added in comments or posted seperately but not to the post body.


3. No bots, spam or self-promotion.


Only approved bots, which follow the guidelines for bots set by the instance, are allowed.


4. Post titles should be the same as the article used as source.


Posts which titles don’t match the source won’t be removed, but the autoMod will notify you, and if your title misrepresents the original article, the post will be deleted. If the site changed their headline, the bot might still contact you, just ignore it, we won’t delete your post.


5. Only recent news is allowed.


Posts must be news from the most recent 30 days.


6. All posts must be news articles.


No opinion pieces, Listicles, editorials or celebrity gossip is allowed. All posts will be judged on a case-by-case basis.


7. No duplicate posts.


If a source you used was already posted by someone else, the autoMod will leave a message. Please remove your post if the autoMod is correct. If the post that matches your post is very old, we refer you to rule 5.


8. Misinformation is prohibited.


Misinformation / propaganda is strictly prohibited. Any comment or post containing or linking to misinformation will be removed. If you feel that your post has been removed in error, credible sources must be provided.


9. No link shorteners.


The auto mod will contact you if a link shortener is detected, please delete your post if they are right.


10. Don't copy entire article in your post body


For copyright reasons, you are not allowed to copy an entire article into your post body. This is an instance wide rule, that is strictly enforced in this community.

founded 2 years ago
MODERATORS