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Tesla seeks to award Elon Musk $56bn pay package | BBC
(www.bbc.com)
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this post was submitted on 19 Apr 2024
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I am speechless, are his employees and shareholders buying this ****?
No, most shareholder don't have voice in big corp. Only a handful of shareholder who invest ton of cash can speak
I've voted in quite a few board elections as a retail investor.
Employees on the other hand ...
your votes don't make any impact or just to look good on paper work (that they actually let retail investor vote).
There is, to my knowledge, not a single public company out there where retail investor votes outweigh the sum total of corporate/rich people investment. There are some rare outliers where retail investors hold as much or more weight than any individual company invested but as soon as you even just add 2nd place on the corporate investment ladder that sliver of relevance fades away again.
Not to mention getting a few million retail investors to pull in the same direction is a lot harder than getting 6 corporations to agree on the same matter.
if they didn't matter the big money running the campaign against the incumbent board wouldn't have been soliciting votes.
also the biggest vote you have is taking your ball and going home.
I did that after the Cybertruck was shown the first time.
Unless you have to mention that you're a significant shareholder when making trades of the stocks, you have zero influence on what the company is doing.
Protip: Your shareholder votes are not secret, so if you're voting based on your holdings from an employee stock program, you might experience retaliation if you vote the "wrong way."
People like Ron Baron
Most of TSLA is held by retail. Institutional investors are around 13%, Elon is around the same. (From memory)
Elon said he and his brother will abstain from the vote. They're also going to spend millions to influence the vote.
It'd be pretty stupid for the shareholders to approve either. They also want to move the incorporation from Delaware to Texas, because apparently Delaware isn't corporation friendly enough.
It'll be interesting to see whether common sense or propaganda is more effective on TSLA retail shareholders.
https://www.macrotrends.net/stocks/charts/TSLA/tesla/number-of-employees
56.000.000.000 / 14.000 = 4.000.000
That's 4 million per fired employee.
Sounds like one hell of a severance should have been given ๐