A Tesla retail investor, SFTahoe, is fighting on behalf of Tesla retail investors to get Elon Musk the compensation package he deserves for the hard work to get Tesla to grow.
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Tesla Retail Investor Fights For Retail Investors and Elon Musk's Hard Work
Elon Musk has done quite a bit for Tesla as its CEO, In the time since 2018, when a new compensation package was outlined, Elon Musk had to hit certain targets or get paid NOTHING.
That's right, you read that correctly. If he didn't grow Tesla to various market cap and other growth targets, he would get nothing.
During Elon's time over the last 6 years, he did the following:
- Grew Tesla from 50 billion to over 500 billion in market cap.
- Unveiled and delivered on ramping the Model 3.
- Unveiled and delivered on ramping the Model Y.
- Got the Model Y to be the world's best-selling vehicle.
- Unveiled and delivered on the Cybertruck.
- Continued to ramp Tesla energy to now be a serious contributor to Tesla's revenue.
- Evolved Tesla FSD to version 12.3.6, which is a pretty good driver assist software now.
- Unveiled the Tesla Bot and began demonstrating its capabilities.
Tesla has grown in revenue and profits over this time due to all these extraordinary things Elon Musk helped lead to their completion or beginnings. He deserves to get paid for his work in a contract that was ALREADY voted on.
There are many CEOs in this world for companies that stay flat or flounder, and they continue to get paid on stock options and millions of dollars of salary.
Elon Musk set a precedent that all other CEOs should follow - and that is, you only get paid when you succeed at growing the business and delivering on the vision you set forth.
A Tesla retail investor, Amy, also known as SFTahoe on X, said the following on X on June 5th, 2024:
I have retained counsel to appear in the Delaware Court of Chancery to challenge the plaintiff’s fee request in Tornetta v Musk et al. I voted for the CEO Performance award in 2018, and voted for the ratification now. While I’m active in the case, I’ll refrain from commenting here. #tesla
I think it's very brave and honorable for her to go straight to the "battlefield" of this court battle that is ongoing where Elon Musk's fair and contractually obligated compensation package has been denied.
Tesla is doing a lot of good in this world, and it's only fair to compensate the main who helped put forth the vision to make Tesla a success.
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Pay Elon Musk For What Was Contracted On
The bottom line of all of this is to pay the man for the work he did that got Tesla to where it is today.
If not, what precedent does this set for future CEOs and compensation packages? Will they, too, be able to be overturned by other courts?
The original case, which took years to bring forth, was brought forth by a plaintiff with 9 shares of Tesla stock. This person has wasted a tremendous amount of people's time and money, and that is where the courts should be looking.
I'm happy to see retail investors fighting back and to see Amy getting involved in this. Tesla produces amazing cars that the world needs. Its FSD software will one day be much safer than any human, and that is technology that needs to develop. Better have the man that had the vision at the helm to make it so.
For Further Reading: Cybertruck Chrome Polish Makes It Look Nearly Invisible
Should Elon Musk get paid for the contract that was already voted a yes on? Or is there any reason for him not to get paid for what he has done for Tesla?
Share this article with friends and family and on social media - or leave a comment below. You can view my most recent articles here for further reading. I am also on X/Twitter where I post more than just articles daily, as well as LinkedIn! Thank you so much for your support!
Hi! I'm Jeremy Noel Johnson, and I am a Tesla investor and supporter and own a 2022 Model 3 RWD EV and I don't have range anxiety :). I enjoy bringing you breaking Tesla news as well as anything about Tesla or other EV companies I can find, like Aptera. Other interests of mine are AI, Tesla Energy and the Tesla Bot! You can follow me on X.COM or LinkedIn to stay in touch and follow my Tesla and EV news coverage.
Image Credit Reference: Tesla & Amy (SFTahoe)
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