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Marketing School - Digital Marketing and Online Marketing Tips

Judge Sinks Elon Musk’s $56B Tesla Pay Package

Marketing School - Digital Marketing and Online Marketing Tips

Eric Siu and Neil Patel

Careers, Business, Marketing

4.61.3K Ratings

🗓️ 4 December 2024

⏱️ 7 minutes

🧾️ Download transcript

Summary

In episode #2878, Eric Siu and Neil Patel discuss the recent legal ruling against Elon Musk's $56 billion pay package, despite shareholder approval. They explore the implications of such legal decisions on business operations and the broader context of public figures in the business world, contrasting Musk's visibility with the anonymity of other successful entrepreneurs. Don’t forget to help us grow by subscribing and liking on YouTube! Check out more of Eric’s content (Leveling UP YT) and Neil’s videos (Neil Patel YT)  TIME-STAMPED SHOW NOTES: (00:00) Elon Musk's $56 Billion Pay Package Controversy (02:53) The Impact of Legal Decisions on Business (05:45) The Dichotomy of Public Figures: Elon Musk vs. Anonymous Wealth (06:22) That’s it for today! Don’t forget to rate, review, and subscribe! Go to https://www.marketingschool.io to learn more!   Leave Some Feedback: What should we talk about next?  Did you enjoy this episode? If so, please leave a short review.   Connect with Us:    Single Grain << Eric’s ad agency NP Digital << Neil’s ad agency X @neilpatel X @ericosiu

Transcript

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0:00.0

Judge confirms the decision to sink Elon Musk's $56 billion pay package despite the Tesla shareholder vote.

0:09.0

Musk won't get the salary he wanted.

0:11.0

Elon Musk has had his Tesla pay blocked by a judge.

0:15.0

Yes, $56 billion pay award will not be reinstated.

0:24.9

So originally, Elon Musk had a $56 billion pay package.

0:30.2

For performing. For performing. Insane goals that were basically unachievable. And for a company that wasn't doing well at all financially. And it had a potential of going under, but he not only saved

0:35.6

the company, he made it, you know, blow up in a good way. So the original judge decided, you know what? Forget you, Elon, you're not going

0:41.5

to get this money. All right? Because one person, a very small shareholder, said, hey, you know what?

0:47.1

I don't think he should get it. It's unfair. Yes. Even though he was the one who made the shareholders tons of money as well.

0:56.2

So the judge is like, all right, you're not getting paid.

1:00.2

So then must, you know, of course he moved his business to Texas.

1:05.8

I think they moved their incorporation to out of Delaware to Texas, I believe.

1:06.6

I'm not sure about that.

1:10.0

It was some state or it was to Delaware, whatever they ended up changing it to.

1:12.3

They casted a shareholder vote.

1:16.1

The shareholder said, yes, we believe you should get paid your 56 billion dollars. The vast majority of them.

1:17.5

Yeah.

1:17.9

Well, he won majority.

1:19.2

Yeah.

1:19.6

And then again, today, judge decided, I don't know if it's the same or a different one, but a judge decided that he's not going to get paid his 56 billion, even though the shareholders voted that he shared the majority.

1:31.9

And here's a kicker. The plaintiff's attorney, right, the people who are fighting against him, they just got awarded $345 million from the judge.

1:40.3

You know what this is? This is the same thing that like, I don't care which side you're on. This is lawfare, right?

...

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