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Musk could become history's first trillionaire as Tesla shareholders approve giant pay package (apnews.com)

submitted 2 days ago by cm0002@mander.xyz to c/usa@midwest.social

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Christ, is he holding the shareholders' children hostage here, or what? From the article:

The vote is a resounding victory for Musk showing investors still have faith in him as Tesla struggles with plunging sales, market share and profits in no small part due to Musk himself. Car buyers fled the company this year as he has ventured into politics both in the U.S. and Europe, and trafficked in conspiracy theories.

The vote came just three days after a report from Europe showing Tesla car sales plunged again last month, including a 50% collapse in Germany.

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[–] fistac0rpse@fedia.io 12 points 2 days ago (1 children)

"The board of directors that designed the pay package require him to hit several ambitious financial and operational targets, including increasing the value of the company on the stock market nearly six times its current level."

At least he has to work for it. 6x increase is a lot easier said than done.

[–] AlecSadler@lemmy.blahaj.zone 5 points 1 day ago

They're allowed to override the requirements and grant it anyway.