Tesla shareholders have approved a $1 trillion pay package for Musk as CEO.
I listened to some idiot American justifying this. "But one of the conditions is that he raise the share cap to $7 trillion. So if he increases the value to that and only wants $1 trillion in return, I think it's worth it!"
I have real problems with this for a number of reasons.
Firstly, no person, however brilliant, is worth $1 billion let alone 1000 times that. This spanker was talking about Musk like he was some kind of genius. "He didn't improve things. He made things out of thin air!" What, like rockets? Yeah I think Werner was doing that in WW2. Electric cars? Not a new thing. Yes he did some good in pushing them into public consciousness but now his product is done better and cheaper by the Chinese. Robotaxis? Well, his don't work very well, whereas Waymo or whoever they are do. So not sure how that's a world leading step by him. Cybertrucks? Please. Pile of shit that he has to sell to his own companies because no one else wants them. Humanoid robots? Again, done much better by the Chinese.
Secondly - it's grotesque. He's already a half-trillionaire. He cannot physically spend all his money in the rest of his life. So why? The American idiot was saying it's "recognition". You can recognise someone's achievements without giving them the GDP of an average sized country to do it.
Imagine what a trillion US dollars could do in fighting disease, spreading education, health, vaccines in poor countries, improved sanitation, etc etc. Instead it's given to one man who will probably spend vast amounts destroying democracy.
Thirdly - what is the message this gives to other CEO's? "Hey, how come he gets that much? My company is bigger than Tesla. I deserve that too!" So now the already bloated CEO class will be crying poor and agitating for bigger salaries. And we already know that they don't just get bonuses when their companies do well. They can make absolutely stupid mistakes, drive the share price down and still walk away with their massive bonuses.
Billie Eilish had it right the other day. https://www.theguardian.com/commentisfree/2025/nov/05/billie-eilish-billionaires-super-rich To summarise, she gave away $11m of her own money to help fight hunger and said "Love you all, but there’s a few people in here that have a lot more money than me. If you’re a billionaire, why are you a billionaire? No hate, but yeah, give your money away, shorties."
It's a good question. Why are there billionaires? They didn't earn it, they don't need it, they can't spend it all, and it would be far better for everyone if it was given to the poorest people on Earth.
And if billionaires shouldn't exist, that goes a thousand times more for trillionaires.