If I remember correctly, Musk has stacked the board of directors with his friends and family. And he’s surely also paying them off.
They aren’t acting like a publicly traded company. The board and CEO of a publicly traded company has a fiduciary responsibility to the shareholders to try to make them the most money. That’s why Twitter’s board had to sue Musk to force him to buy the company. Because it made the shareholders the most money.
I don’t own any Tesla stock, but it seems like people who do own stock should be suing Tesla right now. Musk is enriching himself while the business is suffering. How is that not embezzling?
There was a lawsuit over the previous giant pay package. And I recall at least threats of legal action over Elon siphoning resources from Tesla to his other companies. However, the move to Texas allows them to require at least 3% stock ownership to sue as a shareholder.
At this point, anyone who chooses to own Tesla stock is unlikely to sue anyway since they’d have to be completely unaware, an idiotic true believer, or just someone who is fully aware and is betting that the bullshit inflating the stock price will be able to push it even higher. The first two wouldn’t know to sue and the third would only be bursting the bubble their trying to ride.
They’re a cult.
If I remember correctly, Musk has stacked the board of directors with his friends and family. And he’s surely also paying them off.
They aren’t acting like a publicly traded company. The board and CEO of a publicly traded company has a fiduciary responsibility to the shareholders to try to make them the most money. That’s why Twitter’s board had to sue Musk to force him to buy the company. Because it made the shareholders the most money.
I don’t own any Tesla stock, but it seems like people who do own stock should be suing Tesla right now. Musk is enriching himself while the business is suffering. How is that not embezzling?
There was a lawsuit over the previous giant pay package. And I recall at least threats of legal action over Elon siphoning resources from Tesla to his other companies. However, the move to Texas allows them to require at least 3% stock ownership to sue as a shareholder.
At this point, anyone who chooses to own Tesla stock is unlikely to sue anyway since they’d have to be completely unaware, an idiotic true believer, or just someone who is fully aware and is betting that the bullshit inflating the stock price will be able to push it even higher. The first two wouldn’t know to sue and the third would only be bursting the bubble their trying to ride.