In 2018, Tesla was Worth Just Under $60 Billion. They Signed a 10-year CEO Extension
In 2018, Tesla $TSLA was worth just under $60 billion. They signed a 10-year CEO extension & compensation deal with @elonmusk, which offered him *zero base compensation*, but up to $55 billion in compensation if, and only if, he could more than *10x the company's value* to $650 billion, a feat no CEO has ever accomplished.
By 2020, less than 3 years later, Tesla did indeed hit a $650 billion market cap, despite the skeptics who literally called it "laughably impossible" when the plan was publicized.
Now, the Delaware courts are shooting down that compensation package, citing that the Board of Directors were not truly independent and that shareholders weren't aware of the Board's relationship with Musk.
This is a joke, an insult to basic capitalist principles, and a mockery of the work that Elon put in to grow Tesla to this point.
Below is a clip from 2018 highlighting how wildly ambitious these milestones were considered by the media at that time:
-
2:49:49
MissesMaam
7 hours agoGrinding Achievement + Perfection | Stardew Valley 💚✨ pt. 34
24.4K7 -
LIVE
Vigilant News Network
13 hours agoMedia Blackout: 10 News Stories They Chose Not to Tell You - Episode 25
3,099 watching -
3:42:05
EricJohnPizzaArtist
7 hours agoAwesome Sauce with Eric John
32.8K3 -
3:00:20
vivafrei
18 hours agoEp. 213: SHUTTING DOWN ALEX JONES? Biden Regime War in FULL FORCE! Viva & Barnes Live!
169K321 -
1:08:34
The Late Kick with Josh Pate
9 hours agoLate Kick Live Ep 518: CFB’s Wildest Era | Biggest 2024 ?s | Impact Freshmen | Bold Predictions
30.3K -
12:00
Dr. Eric Berg
1 day agoWhat Exercise Burns the Most Calories?
59.3K23 -
4:48:29
LumpyPotatoX2
13 hours ago$10,000 PUBG Tournament w/GamersError - #RumbleTakeover
69.3K16 -
3:22
One Bite Pizza Reviews
2 days agoBarstool Pizza Review - Marco Pizzeria & Restaurant (Branford, CT)
71.8K25 -
41:46
Standpoint with Gabe Groisman
18 hours agoEp. 27. From GameStop to the NBA. Gabe Plotkin
72.4K6 -
55:04
Matt Kohrs
15 hours agoThe Volatile Week Ahead || The MK Show
82.2K24