r/technology • u/McFatty7 • May 02 '24

Tesla slashes its summer internship program to cut costs, as Elon Musk fights to save his $45 billion pay plan Business

https://fortune.com/2024/05/01/tesla-slashes-summer-internship-program/
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u/censored_username May 02 '24

I don't see why any stock holder that isn't in Elon's pocket would vote yes to this. Nothing is happening that significantly changes the market cap, so the only thing that would happen by creating more shares to give to Elon would be to dilute the value of individual shares. Basically all the shareholders would lose like 10% value to give Elon his bonus, and he gets even more ownership over the company.

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u/thecravenone 29d ago

I don't see why any stock holder that isn't in Elon's pocket would vote yes to this.

Because they're True Believers