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this post was submitted on 09 Jun 2024
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Enough Musk Spam
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I don't know if this site is reputable, but it lists Tesla's cash on hand as just under $27 billion. Burning through that and adding a mountain of debt, while sales are way down seems like it could send Tesla into a tailspin. They have 47,000 unsold cars. Not to mention Musk seems to keep screwing Tesla over to help Twitter.
Watching Musk drive Twitter into the ground should have set off alarm bells for investors.
Not to defend Musk, but the payout would be in stock options, so it wouldn't really cost Tesla any cash. But that volume of new shares would probably devaluate other shareholders' portfolio even faster that Musk's erratic leadership already has in the last couple years.
Besides, NO ONE deserves this kind of money. Ever. This level of payout shouldn't be normalized. I mean the guy doesn't even work full time for that company !