Elon Musk’s $1 trillion pay package is moronically stupid in every conceivable way. But Musk and his cronies know that. They know that anyone with even the tiniest drop of sanity would throw out this proposal. So what do they do? Well, because, like all billionaires, Musk lacks originality, he is holding Tesla to ransom exactly the same way he did with his denied $55 billion pay package. Will this work? That is the question everyone is asking as November 6th approaches, the day shareholders vote on this package. But that isn’t really the question we should be asking. Instead, we should ask why Musk wants this. So, let’s do that instead.
If you don’t know about this $1 trillion pay package and the ways in which it is idiotic, read my previous article here, as you will need the context for this article.
Firstly, how is Musk holding Tesla to ransom?
Well, Musk has threatened to step down as Tesla’s CEO if the pay package isn’t approved. Tesla’s board of directors has supported this statement and issued a warning to shareholders: vote to approve Musk’s $1 trillion pay package or risk losing him as CEO. Tesla’s board has also filed documents with the SEC stating that it is prepared to name a new CEO from within if…
