Summary
A Delaware judge upheld her earlier decision to void Elon Musk’s $56 billion Tesla CEO pay package, ruling it was improperly granted due to Musk’s control over Tesla and flawed board negotiations.
Tesla’s attempt to overturn the ruling through a shareholder vote was rejected, with the judge warning against revising judgments with new facts post-trial.
Musk called the ruling “absolute corruption” and plans to appeal.
Meanwhile, Musk’s net worth has surged, driven by Tesla’s stock jump following optimism about his alignment with Trump’s policies.
Elon Musk’s wealth is listed as about $337,000,000,000. If you earn $50K per year it would take you 6.74 million years to earn it, or 3.37 million years at $100K. If you earned a million dollars a year it would still take you 337,000 years. It’s an obscene amount of wealth to belong to one man.
I highly recommend On Freedom book but Timothy Snyder, it basically talks how the wealth is being stolen from us and now with help of modern technology like social media.
This is what I mean when I try to explain to people that if they’re not pulling down multiple millions of dollars per year on the interest of their wealth…
They are the middle class. And they’re basically poor.
This shit is slipping fast.
If you have a salary that’s in the hundreds of thousands and you think that you’re doing well? You’re just not very poor. You’re basically a slave. You’re a slave with bells and whistles.
If you have that salary, then you can have a comfortable life. And if you have a comfortable life, then you are doing well.
Poor isn’t a measure of wealth compared to others. It also means “with less resources than you need to survive in a healthy way”. For most people $100k/year will let you survive in a healthy way. Above a certain dollar figure, having more money doesn’t let you live better, it just gets spent on unnecessary crap (or stacked up and hoarded).
In the short-term: yes.
In the mid- to long-term: obscene inequality (like we are seeing currently) inevitably leads to awful awful things…
No wonder people are so miserable if they believe someone earning 100k+ a year means they’re poor. In the vast majority of places in the world that puts you well into the upper middle class. I earn less than half that and I consider myself quite well off.