Tesla is awarding CEO Elon Musk 96 million shares of restricted stock valued at approximately $29 billion, just six months after a judge ordered the company to revoke his massive pay package.
The electric vehicle maker said in a regulatory filing on Monday that Musk must first pay Tesla $23.34 per share of restricted stock that vests, which is equal to the exercise price per share of the 2018 pay package that was awarded to the company’s CEO.
The company will not survive if Musk doesn’t leave.
It may not survive if he does leave, either. The damage is done. Who’s going to buy Tesla now?
Plenty of people would in a heartbeat if Elon Musk was publicly and thoroughly excommunicated from the power structure of the company. They would have to rebuild the brand but heres the thing people hate Elon Musk not Tesla.
Personally, I can’t help but see them as junkers these days. You could be right, of course, but I wouldn’t buy one. Not for a very long time after Musk was gone and no longer screwing everything up, anyway.
Tesla will go bankrupt either way and will be bought up for pennies by competitors