Elon Musk has trashed the US government this year, albeit not quite single-handedly, but he tried.
Now he is trashing Tesla by demanding $30 billion of new shares, or he says he won't come to work any more.
Bizarrely, the Tesla board have granted him the shares when refusing them should have been the easiest and most logical business decision that could ever have been made in history.
That decision confirms my instinct that such companies should not have a penny or cent of pensioner funds ever go near them. They are set up for exploitation by a few, and not for the benefit of those they are meant to serve.
How do I know? That's easy. It's because giving Musk $30 billion of shares did not change the worth of Tesla (which is still falling as coin sumers boycott the company). Instead, it appropriated value from other shareholders to give it to Musk. That's the essence of this. The bull demanded and got the other people's share, quite literally, just as I explained has been the behaviour of the wealthy for a very long time, in a recent video on their behaviour.
Thanks for reading this post.
You can share this post on social media of your choice by clicking these icons:
There are links to this blog's glossary in the above post that explain technical terms used in it. Follow them for more explanations.
You can subscribe to this blog's daily email here.
And if you would like to support this blog you can, here:
Buy me a coffee!
Maybe Musk is doing us all a favour with his childishness – maybe he is just helping us to see how it all really works?
I hope so.
A perfect illustration of how the 1% steal from the rest. And how the rest happily allow it to continue.
Sounds like he is building a pile of money for … US elections? He can’t be president but he could fund somebody.
He certainly can’t spend the loot on himself – which leaves the open question: What would he do with $30bn?
It is perception – he wants to maintain being the richest person in the World, which then gives him some power – people listen to what he says, and many are fooled into thinking what he says has value, because look how much money he has.
He also has lots of businesses, although he has mastered the trick of getting other people to commit their money rather than his own.
And of course, if he tried to actually turn his $30billion of shares into cash the value would drop quickly.
Tesla also received a lot of money from the US government to build and expand because I think deep down the non MAGA guys know they need electric cars. Not that I think he’s likely to again but he should be barred from receiving any more government funding indefinitely for this kind of behaviour. He has shown he is unworthy of anything but scorn.
I would pay $30 billion to get rid of him.
BYD about to overtake Tesla in UK car sales.
We gained a new word this year. Swasticar. Swasticardotcom, when I checked, was no longer available. You have to wonder if Tesla now own it. In the states they have removed badges from cars, launched advise lines of why you should get rid of them. Celebrities have publicly disposed of them. There is also the small issue of the protests outside dealership. Not once but multiple times.
A lot of this was kicked off by that Elon special wave.
Having an affair affects the families involved. The Coldplay couple both had to quit within days. The company even exploited the situation.
This isn’t worth thirty dollars. This just proves how the directors are living in an ivory tower.
Your instinct about these companies is spot on.
Tesla might be the poster boy but they are definitely not alone.
This is a good advert for Rachel from customer services drive for more share ownership.
“It is imperative to retain and motivate our extraordinary talent, beginning with Elon,” Tesla board chair Robyn Denholm and fellow director Kathleen Wilson-Thompson wrote in a letter to shareholders. “The war for AI talent is intensifying, with recent months including multibillion-dollar acquisitions of companies and nine-figure cash compensation packages for non-founder, individual AI engineers.”
$29 billion-worth of incentive and motivation?
Shareholders challenged the previous package of $55 billion+, so the board, which is not independent of Musk, changed the rules so that only shareholders with a stake of at least 3% could challenge pay packets. That’s a stake of at least $3 billion, so de facto ruling out any challenges.
What is are “coin sumers”????
“coin sumers” or did you mean “consumers”????
Of course I did.
Oh dear, I made a mistake on a day when I also was on holiday.
Perhaps I should just closee the site.
Sorry, but thats what comments over the last couple of days make me feel like doing. That or jyst turning off all the comments.
There is nothing economic about the effort I put into this blog, and maybe I should just take up golf or something else.
Sorry – usually you are supportive, but I returned to 75 comments tonight and negativity is not what I needed.
Richard, you are doing a grand job… keep up the good work. I can imagine that some of the comments coming through may be grinding. Yesterday I could not believe the comments made by “Claire” and “John” about Gaza. Shocking and sheer ignorance. Good for you to have still published these comments… you do not need to publish this one.. it is just to remind you.. that ‘we are here’, we are paying attention, there is true value in what you do.
Thank you
For those who wanted Thatcherism on steroids, this is it, lawless men unhindered by the rules and regulations and social ties that bind the majority doing incredibly crazy and anti social things which affect things on a global level and might draw us into trade wars, tariff wars and even serious military conflicts.
This is where it was always leading. You cannot build wealthy Western societies on glaring economic divisions that benefit the already wealthy and those who have no conscience, that creates rampant injustice as par the course and by its very nature has to keep getting worse and worse. I call that out for what is, evil. If 350,000 deaths under the last round of austerity isn’t enough for those in power then let’s carry on under Sir Keir and make it 500,000 then. The fact that almost nobody else mentions the brutal results of austerity, particularly the msm, tells you how leery they are about it but also how nobody really cares either.
What has happened to this country and how do we get it back?
To quote Thatcher “it’s our job to glory in inequality and see what talents and abilities are given venting expression for the benefit of us all.”
Possibly the first time I realised by “all”she really meant the inner circle not the majority.