Musk's Massive Pay Package, Trump Fires BLS Head, Stocks Rebound After Friday Sell-Off 8/4/25

Squawk on the Street

CNBC

News, Business, Investing

4.1 • 567 Ratings

🗓️ 4 August 2025

⏱️ 43 minutes

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Summary

David Faber and Jim Cramer led off the show with Tesla shares rising after the company awarded Elon Musk a massive multibillion dollar pay package consisting of 96 million restricted shares of stock. The anchors also reacted to President Trump's decision to fire the head of the Bureau of Labor Statistics after July employment data came in weaker than expected. Also in focus: What to make of stocks in rebound mode after Friday's sell-off, fascinating Mag 7 stats, shares of Warren Buffett's Berkshire Hathaway fall on earnings, what to expect from Palantir's quarterly results after Monday's close of trading, Figma's red-hot post-IPO rally takes a detour. Squawk on the Street Disclaimer

Transcript

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0:00.0	Market Moving Insight and Analysis.
0:02.1	Join Jim Kramer, David Faber, and me, Carl Cantonia, on the opening bell hour of CNBC Squawk on the Street. Good Monday morning. Welcome to another week, Squawk on the street. David Faber. You're ex-thusiastic? I'm how hot, man. Yeah, no, you're coming out hot. He's coming out hot. He's Jim Kramer with live for Postal and the New York Stock Exchange. Carl has some running off.
0:23.6	Let's give you're coming out hot. He's coming out hot. He's Jim Kramer. We're live for Postline at the New York Stock Exchange.
0:22.4	Carl has the morning off.
0:23.6	Let's give you a look at futures if we get ready to start the trading week 30 minutes from now. We're looking for an up open after a decidedly negative day on Friday. Let's get to our roadmap this morning. It begins with Tesla, which approves a massive interim compensation award for its CEO Elon Musk.
0:40.9	We'll give you a... morning. It begins with Tesla, which approves a massive interim compensation award for its CEO
0:39.6	Elon Musk. We'll give you details on that staring number, talk about what it means for
0:44.6	Musk, and of course the EV maker and its many investors. Plus, we'll discuss the follow-out
0:50.2	from the president's decision to fire the chief of the Bureau of Labor Statistics
0:56.2	after he did not like the weak jobs numbers and the growing dominance of the Mag
1:02.1	7 versus the rest of the S&P 500. What are the stats signaling about this market?
1:09.7	All right, let's start this morning with that massive pay package
1:12.2	that Tesla is awarding Elon Musk. And Jim, really what this is is only one third of the 2018
1:20.0	compensation package that he was awarded that was approved by shareholders once and an approved by
1:27.4	shareholders again last June.
1:30.1	Now, I've been covering this pretty closely, as our viewers probably recall.
1:33.3	We're waiting still for the Delaware Supreme Court.
1:36.7	They haven't even held the hearings yet on it to find out whether they will overturn the ruling of Chancellor McCormick, which even after the second
1:47.8	approval by Tesla shareholders, at some almost 70% of those shareholders, she said it was not
1:53.8	valid. And they got tired of waiting, is what I've been hearing at this point. And they felt like
1:58.9	with Musk certainly making noise,
2:01.4	and we're going to share some of our interview that I did back in May with him on this very
	...

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