June 9, 2024

Elon Musk

Prospect - On June 13, Tesla shareholders will vote on whether to grant founder and CEO Elon Musk a bonus worth roughly $50 billion (estimates range from $45 billion to $56 billion). This is the first time in recorded history that the proposed pay level of a single person has been so large that it’s actually a macroeconomic issue. ...  No remotely comparable paycheck appears ever to have existed. The Musk bonus is more in line with the amount of money that Congress appropriated for Ukraine—$61 billion—earlier this year after months of legislative and political maneuvering. Moving this amount of money is customarily a question before nations, not shareholders or banks, and only very wealthy nations at that.

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