Elon Musk earned his $56 billion pay package, Tesla shareholder says
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Published 2024-06-13
Laffer Tengler Investments CEO and CIO Nancy Tengler and MDB Capital Holdings President and Chief Market Strategist Lou Basenese join Market Domination to discuss Musk's performance as chief executive and the future of the EV company.
A Tesla shareholder, Tengler voted in favor of Musk's pay package, explaining that "he earned it. These were ludicrous targets at the time they were set, and he achieved them and surpassed them. And so here's a guy who's made a lot of money for shareholders over the years."
On the other hand, Basenese — who does not hold any stake in the electric vehicle maker — is bearish on Tesla under Musk, comparing him to the likes of Apple (AAPL) CEOs Steve Jobs and Tim Cook: "Does Musk have that protege? I don't believe so. If he did, he wouldn't be three-timing it at three companies as the leader."
However, as AI continues to develop at Tesla, Tengler sees a clear growth trajectory: "This company has the best margins. And he's been he's been reducing the margins voluntarily to take share. Free cash flow is about to accelerate. Earnings growth is about to accelerate. And he has the vision. And he will figure out how to converge all these technologies."
While many investors may have gripes with Musk's behavior, she adds "this isn't a personality contest for me. There's a lot of CEOs and companies that I own the stock and I don't actually like the CEO, or how they operate, but they're good at their business. And as an investor, that's my job for my clients."
Yahoo Finance shared a poll at the start of the trading week, asking whether Tesla shareholders should approve Musk's pay package. Over 1.4 million respondents have participated in the poll, as of Thursday afternoon, with 93% voting "No."
For more expert insight and the latest market action, click here to watch this full episode of Market Domination.
This post was written by Melanie Riehl
Follow along with Yahoo Finance's coverage of Musk's pay package saga:
Takes from 3 Tesla shareholders: Unenthusiastic yes to unequivocal no as Musk awaits vote on his pay
Musk pay package: What's incentivizing shareholder votes
Elon Musk's $46B Tesla pay package: Explained
Poll: Should Tesla shareholders once again bless CEO Elon Musk's pay package proposal?
Musk's Tesla pay package is 'excessive' and should be voted down, shareholder advocate says.
#youtube #TESLA #ELONMUSK
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All Comments (21)
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Elon was smoking weed with Charles Rogan.... He sure was 😂
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Shorting the stock looks like a valid option right now
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Always hilarious watching Yahoo Finance, who have a mandate to paint Elon and Tesla in a negative light no matter what, struggle to come up with ways to make Elon and Tesla look terrible. They fall flat on their face all the time and yet they continue to try. Insanity!
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I can’t seem to understand why so many people are glazing a billionaire who is diluting his companies share price lol
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This was never about Elon Musk or Tesla or even the $56 billion amount. This is about an activist judge abusing her power to make a deeply unfair ruling, motivated by her partisan, ideological worldview. The opening line in her ruling tells you all you need to know. It essentially said "does the world's richest man really deserve to have even more money?" You can feel the outright contempt. It didn't matter to her that he earned every penny, that it was 100% performance-based with no guaranteed pay, or that it was the most shareholder-aligned incentive and compensation package in history. No, Elon Musk's crime was being TOO SUCCESSFUL, and she was gonna "fix" that problem. Think about the underlying ideology that says activists, judges, bureaucrats, and other gatekeepers get to arbitrarily decide what you can have, whether you have "too much" of something, whether the contract you negotiated in good faith should be honored, whether your vote as a shareholder should be honored. This was never about Musk.
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😂😂😂 the first guy is clueless, keeps thinking that its a forward looking package...
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Results proof this was an absolute miscarriage of justice
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Yahoo news is pure lunacy
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the negative analyst guy has no clue don't follow tesla not your bag
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"If musk isn't incentivised" ?????????????????????
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Vote YES or say BYE to your capital invested, this is what seems like happened here
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I've been looking for a detailed guide to binary options trading and this sober trading video is exactly what I need. Thanks for sharing your knowledge!
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EV sales are tanking including Tesla.
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I expect the responsible among fund managers in the US and abroad to sell out of Tesla completely, then the retail investors and the controversial institutional can own Tesla alone going forward until those values are pulverized by Elon, Good luck!
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Buy puts.
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Lololol
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🤡🤡🤡 Judge🤣🤣🤣🤣 Elon won. Now maybe Tesla will move to Florida or Texas
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Lol, these activist news skits are fun too watch. Trump and Musk derangement syndrome is on peak levels. 🤣🤣🤣🤣
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This Narcissists self-proclaimed genius (?) is NOT WORTH a single tire off of one of his Tesla Cars!!! This Angel Investor's EV's are soon to be a thing of the Past !!!
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I'm here early; let's see how many likes we can get!
