I see that a bunch of people are “sickened” by something they barely understand.
Musk negotiated a pay package in 2018, which was subsequently approved by the shareholders, that had significant performance hurdles to unlock his share rewards. He cleared all of those hurdles, but a Delaware judge this year invalidated the pay package. This reauthorizes it and grants Tesla the right to move their state of incorporation to Texas.
In 2018 Tesla was worth $50-60Bn. Today it is worth nearly $600Bn, if you don’t think Elon had something to do with that and shouldn’t have been compensated for the last five years, I can see why you’re not in business.
The Delaware judge struck it down because Tesla's board which is mostly made up of Musk cronies and family members did not do their due diligence. I've been an investor in Tesla for more than 10 years, it's been a great investment but Musk is not that critical, he's the source of most of Tesla's biggest problems. When he talks about sleeping on the factory floor he fails to mention it's because he pushed to automate car production and he doesn't know what he's doing. So other people had to come in and fix the production issues he caused in the first place. The Cybertruck production issues are also a Musk problem as he pushed for a design favored by one of his kids, instead of the engineers recommended design which was easier to produce and more conventional.
Tesla doesn't need Musk anymore he served his purpose and Tesla would probably do better without him much like Apple shareholders have done much better under Tim Cook than under Steve Jobs. Tesla already has a product roadmap to dominate, they just need to execute and increasingly it's Musk who is a distraction and obstacle towards that execution.
Tesla is incorporating in Texas because Musk has continuously flouted corporate governance laws and thinks he'll get away with more stuff in Texas.
Agreed. Also, Elon Musk turning more and more towards alt-right extremism is REALLY off-putting to the core environmentalist consumers of EV's. My wife recently bought a Tesla even though I was against it. I'm getting a Polestar instead (in two days, infact) - there's just no way I'm giving Elon Musk my money. As Musk increasingly becomes known as a destructive right wing force, the environmentally concerned purchasers of EV's will increasingly look elsewhere when alternatives to Tesla becomes more plentiful (because Tesla obviously does have first mover advantages currently).
