Elon Musks Asks For $56 Billion Payout AGAIN! Will This BACKFIRE!?
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- Опубліковано 20 кві 2024
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On this week's episode of RYGTBKM, a dealership in Northern California charges a $500 fee for simply being in NorCal; Stellantis CEO Carlos Tavares could potentially get a $39 million compensation package after cutting hundreds of jobs; the GMC Sierra EV has gotten a price cut; and Elon Musk is having trouble getting his enormous Tesla CEO compensation package approved. - Розваги
It feels like corporations are in max extraction mode right now ... Before it all crashes ...
You are 💯!!!
All of them!!
I agree with you. Any corporation that continues with business as usually is likely to fail. We have entered into a very disruptive period. Watch what happens in as little as 2 years when everybody is selling robots that are trained instead of programmed.
I feel he is going to pour his efforts into the Robot, he sees as the future money maker.
We are in the cancer stage of capitalism. Greedflation is real and has been for the last 4 years.
@@bomberaustychunksbruv4119 There are a good many companies working on humanoid robots. Tesla is building Optimus. I don't see Elon doing that again even if he leaves. Maybe a company that trains them. I expect that is where the money will be as well as the contribution to making our lives better.
Tesla should have focused on the cheaper model 2 than the cybertruck. a cheaper 2nd electric car would be a smart move.
Tesla should double down on the Cybertruck.
Elon caters to his simps.
The CyberTruck is a technology demonstrator. It introduces technology that is needed for a successful and accepted model 2. When the 2 hits the road Tesla and the public will have millions of miles on drive by wire, 48V, and a lot more giga Casting experience. Tesla is not the first to sell technology demonstrators.
I remember something I read about Ben and Jerry of _Ben & Jerry's Ice Cream_ : one of the items listed in their charter said that no one (including the owners) could make more than 11 times what the lowest paid worker made; therefore, if a janitor in the company back in those days made $25,000 a year neither Ben or Jerry could make more than $275,000/year. There really should be a national cap on how much company executives can make, or, a similar plan based somewhat upon the B&J Ice Cream plan. I'd really like to know what any CEO does that is worth the amount of money and stock they are getting. Of course I guess we have to consider the dangers of getting hit on the head with a golf ball while walking the course during those working hours.
No more money to car dealers and makers.
?? Are you going to steal your cars?
Things are changing. The expectation for the lifetime of a car is increasing. Soon a car that will not run a million miles w/o significant repair will be shunned. We may see the rise of the MVC or minimal viable car. What feature set it will include is very debatable.
Buying it used from private owners?
Florida is the absolute worst! I was negotiating a truck and this stealership had almost $4000 in add on BS fees!!! And acted like i was getting a great deal and their fees were wonderful and warranted. I told them where to go!!! They still won't try and deal and move vehicles here. I guess those record COVID profits are still carrying them. Rather than move metal and not pay monthly floor plans they would rather have no cash flow, than maybe a little less profit!!! Screw these crooks!!!
Florida is a tough place for buying a car. You have to be ruthless.
@@scottpulver Florida is bad in general, home & auto insurance are the highest in the country..50%+ over the national average, housing prices are high & even worse when you consider lower avg wages relative to states with similair average home price
You have to drive to find a good dealership here. I’m getting my rav4 from Earl Stewart Toyota in south Florida because no fees, no doc fees, under MSRP.
@@ChrisFromFloriduh just got a quote from a dealer in Brandon, $5900 of BS add on fees! I'm old school will never, ever fall for this garbage. Problem is, so many uneducated buyers falling for their crooked games. Yes, much respect for Earl Stewart, watch his Saturday video on UA-cam. Not in market for Toyota(have one)but will check his pre-owned. Id rather travel, then pay these crooks!
Florida has a $995 Document Fee.
I would NEVER buy a car in Florida.
Greed greed greed! It’s simple, I love my country to the bone but we are the greediest most materialistic group of people on the planet.
Are you sure? Define greed. If I earn a lot of money and reinvest it to create more jobs and technology that makes the world better am I greedy?
@@danharold3087We are at a height of greed not seen since the days of Carnegie and Rockefeller. No one is worth 56b, no one.
Are we sure nobody else in the world is like this? Look what employers do to workers in Japan, and how the workers love to buy the latest things.
The greed I see is the $6 billion the lawyers are getting.
The Ray Rants on this episode are classics. Thanks Zach!
Yep. A sub 30k Tesla with aggressive financing will sell like hot cakes now.
Stellantis is headed for a brick wall, I'm thinking - as more dealers reject new shipments, their unit sales numbers are going to tank - and I'd love to know what unsold inventory is sitting around their various storage facilities.
Ray Shefska is a national treasure.
If only there were a way to not pay these prices? I got it. STOP PAYING THESE PRICES. you don’t need a new car.
Had that figured out by the time I had enough money to buy a new car.
If you paid those 14,000 workers $200,000 a year (probably far more than they actually were making), it would be $2.8 Billion. That would still leave Musk with $2.8 Billion a year, AND there would still be workers on the (much touted) $25K affordable Tesla. Such blatant disregard for responsibility to workers and community.
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@Morris280...
He's mostly on Telegrams, using the user name.
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EV reduced price by $10,000 how nice, when I trade it in after 1,000 miles I'll be $10,000
less upside down then if I was a fool a month earlier buying a damn EV!
"It's outrageous, egregious....PREPOSTEROUS!." - Jackie Chiles
North Cal greed
GM must falsify their earnings, it's impossible that they beat earnings, when their cars are not selling, dealership lots are full of unsold trucks.
Guys. Thanks for all the insider info provided. keep up the good work
Pops I learned a new word today "Invidious". Thanks for what you do. Keep them coming.
Elon lays off 10% of Tesla and tells his Board (of "yes" men) to "get me my $56 Billion dollar bonus or I'll be pissy".
Yep, my local Toyota dealer (ohio) has a 50k Grand highlander for 59k with *addons* . They're 10k (on average) over MSRP from what I've seen when looking. That's regardless of model, base to loaded.
Thank you!
Every year since 2004 when I last bought a car for cash, 20 years of no payments and
not many electronic BS reporting on my driving habits. I don' t think just 'on star' reports
on you. Every OEM puts some unreported monitoring device. (no additional charge)
OEMs collecting data is a double edged sword. With a software defined car the company can actually monitor the health of the vehicle and use that data to not only improve new cars but adjust existing ones to work better. On the other hand OEMs reporting your data to anyone outside the company is pure bullshite. The EV industry will have million mile batteries in the next few years. Now they need to ensure that the cars can make a million miles too.
My last car payment was at age 29 back in 2008. One of the best things I ever did for my family. My kids in college don’t even know what an auto loan is…and I intend to keep,it that way. Buy Toyota or a Lexus, buy them used, and drive them for many many miles.
@@hokie9910 you know how to play the game.
Yeah, I don’t like being on the losing end of the stick.
That’s a lot for Elon to ask for, but that’s realistically his annual salary. He probably makes well north of $5mm per hour, at a 24/7 rate, x 8760 hours per year. Crazy.
I remember reading an article about 15 years ago when Buffett was at or near the top. He made about $2.5mm per hour 24/7. Eating, sleeping, etc. Literally not worth his time to pick up ~$20k+ cash as we’d stop to pick up a penny.
The freight should be included in the cost of the car or optional and the buyer be able to pick it up and drive it home. RIP off by your industry.
Al Hendrickson Toyota in South Florida tried to pull the same stuff with me. Literally almost 8k in BS that I got them to takeoff.
Lol! Gold dust-infused Nitrogen Tire Inflation!
Will I always have to drive 20 year old cars? It's invidious! Even at 0 percent I'm not spending 40k because there's still property taxes and insurance to maintain along with the car, the quality ain't there to justify the expense either. The roads in New England are covered in salt in the winter and pot holes the rest of the year, where, when, and why would I want to drive something new. Once again, invidious lol.
Let's hope the type of recent attempt in the EU to ban parts/repairs for 15-year-old cars and older doesn't come here in some form (MSM tries to spin it but it's clear what the agenda is). Already there's been the John Deere ban on farmers repairing their own J.D. machines and then didn't Massachusetts try to pass a law so only authorized dealers could repair cars? Getting crazier by the day!
@@phreedomphile This rates with things I did not need to hear today. My newest car , which I am not using, is a 95.
@@danharold3087 Sorry friend, I want to fight all that nonsense tooth and nail. I love Scotty Kilmer's perspective. I'm heartbroken last year I lost my 98 Tacoma in mint condition to a very reckless distracted driver and I'm still physically recovering. Love the classic no frills vehicles. Hang in there, buddy, the crazy techno dystopia is absolutely not sustainable.
@@phreedomphile Or if that reckless driver was in a self driving car he might not have hit you. Computers are not known to get distracted. We are just starting on the self driving stuff. When we get V2V in every car it will be near impossible to hit other people unless you meddle with the equipment.
Still I think a car w/o power windows etc even with self driving is needed. Time to make driving optional for traveling in our cars.
Damn Ray, You know Calif. is known as LA-LA Land?
In Spanish we say the word "PENULTIMATE." Here in the USA hardly no one anymore says it. Peeps say, "Next to last." Ray can you use that word? ¡Gracias!
"Mohican Edition"
@@NVRAMboi Boss Radio KHJ -Los Angeles Rules!
no comment - auto mfg's are all out of their minds!!
And out of touch.
Welcome to the age of the new robber barons.
Technological Innovation: While robber barons primarily focused on consolidating existing industries, Musk is a major driver of technological innovation in areas like electric vehicles and space travel.
Philanthropy: Some robber barons became philanthropists later in life, but philanthropy seems to be a more integrated part of Musk's vision.
Social Impact: Musk's ventures, like electric vehicles and clean energy, have a focus on positive social and environmental impact, which wasn't a major concern for robber barons.
@@danharold3087 Wasn't a major concern? Was it any concern? Some barons tried to rehabilitate their image with dubious philanthropy. How about Carnegie's giving money to build libraries WITH HIS NAME over the door? No books, mind you. It is said in his native Scotland nobody is fooled by that. The Rockefeller family went heavily into building and naming after themselves, too, such as Rockefeller Center, because the old man was universally loathed in America.
buying a new car is crazy. first of all $50k for a long highlander is too much already, then they add $10k in "accessories" then you finance it and end up paying $70k for a car thats worth $40k a year later.
Tesla's historically ridiculous stock price & multiple was based on the sycophants saying it was a tech, company. At its high 2 1/2 years ago it was trading at a 95 price to earnings(P/E). It's still a 34x P/E, Established Car companies trade at max 15X earnings, usually around 8 to 10. It is and always was a car company. Tesla stock if it were cut in half from it's current price of $147 would still be over priced, it's already down about 40% year to date from $248.
If you keep saying the quiet parts out loud, the Muskrats will get mad at you.
That's a tired old line about Tesla being a car company. It's a tech company that happens to make cars. Its valuation has nothing do with the cars themselves. Instead, it's the technology they are developing such as FSD or the Tesla Bot that if successful will be profitable like nothing we have ever since. It could quite literally change the way the world works. That's why Musk was given a nearly impossible task with an out of this world compensation package and he delivered. That's why he got 56 billion in compensation .
FSD (world class if not leading AI), robots, grid scale batteries & energy arbitrage, over 50K chargers, megaCasting and more. Does not sound like a car company to me.
Car companies typically are parts integrators. While Tesla also uses suppliers they are making Tesla designed parts.
Tesla is slowly changing how the world builds cars. Left to their own legacy car makers can't see past sunk cost.
@@jerryinmon2731 That's a tired old line about Tesla being a tech company that makes cars.
If Tesla isn’t a car company why does almost 90% of their revenue come from automotive?
At first glance I thought this was a late April Fool's Day video then I realized that you can't make this stuff up.
$56 Billy Compensation Package?! C'mon man! 😵😵💫
thought it was a typo.
I will never buy things from scammers.
Taxpayer subsidies for the Big Three are all but guaranteed.
Why in the world buy new from a dealer? Wait and buy used or wait them.😅😅😅
As a great youtuber always says.... "it is not what you deserve, it is what you negotiate." when it comes to business deals. Musk's lawyers are worth their weight in gold.
Also Ray, could you please work in Bamboozle or Bafflegab into a future show. Thanks
For Ray, since we're adding cool vocabulary, could you please use "vicissitude" and "verisimilitude" during one of CarEdge's regular videos?
I'll see what I can do. All the best, Ray
"Surreptitious!" heh
Ray…….go ahead and just say it…….What the F - - - ??
Keep an eye on tesla stock guys. Has gone down almost 40 points just this week. People are seeing the writing on the wall and selling off their stocks. I am actually interested in a tesla but im kind of apprehensive
Interested in their stock or their cars?
TSLA the stock is highly disconnected from Tesla. It is one of the most actively traded stock and shifts on the weind as opposed to company execution. If you don't have the money to gamble stay away unless you are looking for a long term investment. Never put all your eggs in one basket.
It is mind boggling how the big three are paid and a never make a Profit. Elon has the highest per vehicle margins of ALL CAR MFGS… Pay Him !!!
I went to drive a Tesla Model Y the other day and they raised the price by like 895 I think within the last week, fast forward to 4 days later, Tesla dropped the price by 5000!
Far more stable than a dealer who charges based on the ignorance of each customer.
Who’s writing the titles? Elon Musks? Plural? It’s Elon Musk…..Not Musks.
😂😂
One is definitely enough.
That was intended to be possessive as in Elon Musk's
They never hear the tumbrills coming,
buy the TSLA DIP
Cars are overpriced by at least $10k and closer to $20k
Car Dealers and Sales persons should be licenses like Real Estate sales persons and Brokers. This BS would STOP in a heart beat. IF not they would be fined by the State License board and licenses REVOKED
First justify the need for selling cars via a dealership. The worse the car the more you need a dealer?
Elon's package was fairly negotiated with strict, (almost impossible), goals. He met each of them and then a judge meddled in the middle. Elon brought more value to the shareholders than ever before. Stock was up 2000% during this time.
🎯🎯🎯
The package was sold to stockholders as being independently handled when the people in charge of the deal had financial ties to Musk. They thus had monetary incentive to make sure the package was approved that stockholders did not know about. That is why the court invalidated it.
From a stockholder perspective, the company got the benefits of Musk's work and have the option of wasting $56 billion of stock for it or save and not pay that.
Not to mention, the company will not have growth for several years thanks to Musk's CyberTruck and RoboTaxi focus instead of new/cheaper models. They also laid off 10% of employees (about 14,000 people) and now Musk is asking for over $50 billion
@nintandrew13 nonsense. You're parroting what you heard in the garbage media, and what short-term investors like Ross Gerber, looking to make a fast buck, are crying. People who have never run a company much less created and run 3 simultaneously.
@@nintandrew13would you work for free for 6 years?
@@nintandrew13if anything the shareholders will like the layoffs. They probably realize if they don’t and he walks to the competition the stock will sink so I see this getting approved with no issues.
Should be 100b
Oh Maron 🤌🏻
So far I have decided I would never buy a Tesla. Even though at my age you should never say never.
You have to do some research first about the compensation package of 56b, he left out so many details about this topic. The audience deserves more explanation, and just went ahead and bash Mr. Musk
Ray: “be thankful prices are coming down! People in the comments are ungrateful!”
Also Ray: “A 10% decrease in price doesn’t make a difference!”
Which one is it? 😂
Forget that! He's worth 100+ billion. What's the point of letting him keep all that money if he's not gonna use it to save his own company?
Tesla is the perfect teaching moment for unionizing
Welcome to sleeping on the floor
AKA sending the work to mexico. The replacing thee people with robots.
We are already in a disruption and it will get much much worse. Unions are now a footnote.
Greed!!!
Define Greed if you will.
@@danharold3087The desire to want something so bad you would throw everyone else around you under the bus to get it
@@ryanfraley7113 What if the thing you want is very good like feeding the hungry or world peace?
@@danharold3087 That's not greed!! If you don't know greed then find out about it!!
@@williampinchbeck4321 The problem is that when I ask 2 people about greed I am apt to get 2 different answers.
Elon Musk is said to be greedy yet he reinvest what he earns and creates jobs as well as new tech. Neural Link has a quadriplegic controlling a computer with his brain. Arms or legs are likely to be next. That is one greedy mother. Need more like him.
Payout? Do you mean bailout? Let this fool and his company rot! Oh, Ford, Gm, et al, go away!
Shareholders should sell Tesla if they pay monstrous compensation to Musk.
Tesla also just "Lowered" prices again Today. Elon should know that Russia would "Never" Bail him out
Elon agreed to a package that was so ambitious,few thought he could accomplish it! He did it and already earned the money that an activist judge screwed him on!
Hey Ray, you are finally starting to figure out that the wealthy business people do not care about anybody but themselves and that is not likely to change anytime soon. I wonder why we are seeing the rise in unionization? Hmmm……
We are entering a disruption. Robots will reduce that value of common labor to where it is not enough to live on by a large margin.
We need to remake our society of there will be world wide revolts.
Ray imagine if your son in 2019 said Dad lets start a you tube channel and i wont pay you any money for 6yrs but if we get 300,000 subscribers i will pay you 1 million dollars. 6 yrs later you have 430000 subscribers and your son says we have made alot more than we ever imagined but the million dollars we agreed on i dont want to pay you anything. But 3 months before you were expecting your million dollars you purchased a 100000 dollar car ie twitter and now how to you pay for your new toy.
Correct up till you mentioned Twitter. Twitter prior to Elon was corrupt in the sense that politicians and others could request topics be removed. People not aligned with the agenda were banned. Not saying it is perfect now. It is a sep in the right direction. It is much much better on these things. It is very important that we the people have a forum where we can express ourselves with minimal censorship.
Too many ads…..see ya!
Zero ads for me!
The share holders voted on his compensation. He hit his objectives. It’s only fair.
he barely hit the numbers and only did so after a few tweets that raised the stock prices to the level his contract required.( at the last day ) That was the whole problem.
@@batsonelectronics There were 12 tranches or steps in the plan. He earned the stock as per the agreement.
Rerun of this video 🤔
Doubt Elon cares about optics.
LOL yeah. That and most everything else but his companies and mankind in its entirety. Not so much the individual.
100k ev truck that's a piece of junk or 100k home I can live in the rest of my life hmmmmmmmmmmmmmmmmmmm?
@@yrock777 ring theory the further you go out from the center the cheaper it is. noone wants to live in a city that's just gross.
@@reaglebeaglier enjoy your carnote all I've gotta say and the cyber truck was intented to be 40k soooooo yup simp away simpson. and noone said budget you seem to be confused with reasonable and keeping up with the nieghbors. We don't play that game. anywho enjoy that 900k prefab home that falls apart. good luck out there.
Tell him to pound sand. Why is the government installing electric car chargers?
Because Tesla is the only car company to build out significant charging infrastructure.
@@danharold3087 that tells me that no one but a select few want those turds
They are? Under what agency is this occurring? Where can I go to test these government chargers? I need to make some UA-cam comment here.
@@ryanfraley7113 our town installed one by a city park. The state of Wisconsin just announced they are installing %91 million dollars in chargers on Wisconsin highways.
@@daleolson3506 Check to ensure they are not installing slow chargers. Here in OK they specified 150 KW. Did not say if that was a floor or an exact spec.
Greed and oh more greed
I don't pay federal taxes
Reinstating the Pay Package reinstates his goals to get it. PAY HIM !!!
Elon is that You😂😂😂😂
Regardless how we feel about it, it’s worth mentioning that Elon earned this compensation for achievements already accomplished years ago. That’s an integral part of the story. But totally agree the optics are abominable.
There is no helping the optics. Even if the shareholders vote to give Elon his shares there is no stopping another law firm from finding a guy with 9 shares and make another $6 billion in fees.
Elon would have made zero dollars if he didn’t hit all his milestones. Would any other ceo do that package?
A lot of repeated material, so much so it seems like a rerun.
No videos no money. No news..... rehash what you can dig up.
He wants out of a failing company with multiple violations...😂
The right word is hidious shit cant spell it but hope you all get the drift
😂😂😂
The huge difference is Elon funded tesla.
Elon didn’t fund Tesla, your tax payer money in the form of subsidies did. It’s the biggest con imaginable and nobody talks about it.
Elon’s pay package was approved by shareholders like me !!! The Government does not have the right to cancel it… He delivered for that pay. PAY HIM !!!
OK, let the market decide, but then why do taxpayers have to subsidize Tesla and Musk's other ventures? Like Bezos' grandfather who backed DARPA and the rise of a surveillance state, Musk's grandfather Joshua Haldeman oversaw a branch of a global totalitarian economic and political movement called Technocracy Inc. Haldeman was also Chairman of the Social Credit Party in Canada before he was forced to leave the country facing sedition charges. Big pay for corporate elites but strict surveillance and rationing for everyone else. Is that the free market at work or something else?
He earned compensation, but $56 billion? Why should Tesla shareholders have to recompense Elon for buying Twitter and then some? If he hadn’t sold the stock he sold to buy Twitter he wouldn’t need the compensation package he is asking for in the first place.
Read it… Over 10 years so he can regain control of HIS company and Not Loose it like Steve Jobs lost Apple the first time…. And We Stockholders Approved it… PAY HOME!!!
Bass Mouth Toyota. Well, that's what they all look like.
You need a new thumbnail for your Dad.
Discrimination! 😂
Just reading the title. And I’m thinking 2 answers to this. No… and fuck no!
Because you don't think contracts should be honored?
@@danharold3087 What contracts? The arbitrary numbers they make up from a stock value?
@@Millbro82 The pay compensation package is a performance based contract The contract was for shares of stock.
its crazy how these guys talk about the same 3 things and make the same videos over and over again
He deserves it. They made a deal, and he did his part. What they did in Delaware was straight-up fascist
I'll be a frigid day in hell before any of my money goes to feed musk's inflated ego. I would like my next car to be an EV. But it won't be a Tesla.
Frankly, I'd rather see more outrage over manufacturers' 40% mark-ups than Elon Musk's salary. I have zero to do with paying Musk but if I want to buy a car or truck I have to go mingle with the sheisters at car dealers to do it. I'll likely never be within 100 yards of Musk.
Tesla is so much more than Elon Musk even with him steering the ship. 140K people make Tesla work.
How much money does one need. You can't take with you when you die.
Takes billion and billions to create new companies to create new things and JOBs.
I have a word: Pussilanimous.
And Trump is fighting for his life over crap.
10% workforce reduction laying off thousands of workers but Elmo somehow deserves to be rewarded. Only horrible people are still buying Teslas.
Yes. Shitstain entitled elites and shitstain elite wannabes are buying these turd mobiles.
And what Car Company isn't laying off workers at this time. High rates play a great fact in Sales of all Cars New and Used.
didn't ford laid off workers recently?
Probably 5 people on my street driving them and they are absolutely wonderful human beings.
@@kevinm9246 Wonderful supporters of fascism.
You Guys better Look how Elon's Pay was structured and how long he had to wait for it. Let alone work his A^& off Sleeping in the factory. Do you see any other CEOs work their butt off? Ray didn't you have a Business? The owner takes the biggest risk, Loose big or win big! Where did you end up Ray?
LMAO, Elmo doesn't work. He plays on Twitter all day long.
@@Mark-jb9hx Yet he gets blamed for EVERYTHING Tesla.
@@danharold3087 The Cybertruck is a miserable failure.
@@Mark-jb9hx Try using better bait.
Tesla is the future
Toyota Ford and GM are the past
Yelling through the "soapbox" session is overdone. Detracts from the message.
Musk hasn't earned a salary since 2019. Withou him Tesla would have failed. His compensation is directly related to his productivity. It's capitalism. That doesn't compare to Stelantis. You're oversimplying the Musk deal.
So it is capitalism when Musk needs $56B to pay for his Twitter failure but inflation when a bag of potato chips is $5?
@Mark-jb9hx
Wow? Soo many incorrect lideas in your comment. He earned the bonus. It was voted on by shareholders. Nearly 3/4s were in favor. Please, get some facts.
@@Mark-jb9hx So why is it anyone's concern where Musk puts HIS money. Musk/Tesla is driving car prices. Tesla was cutting car prices when it was making record profits. Elon said the profit margins were ridiculous at that time.
@@danharold3087 Why do people jump through hoops to make excuses for Elmo?
@@Mark-jb9hx Still the wrong bait.
$56 Billion is pennies compared to the value Elon brings to the world.
Tesla is fixing to die! Elon needs funds to run space x!
Looks like Elon is trying to grab all he can before the ship sinks.
I agree, we owe 36 trillion dollars. Our interest payment On our debt.at the end of the year will be 1.6 trillion.
Elon pay is complicated. It was a previously agreed amount for hitting specific targets. If the pay is removed, a new package will have to be approved as he doesn’t take a salary. The lawyers are the only winners here as they will take a large chunk of it and stockholders will end up on the hook.
@@ajstl9556 Well put. FWIW the $56B of stock is now about $40B.