Elon Musk Pay Deal Voided - Should Tesla Reincorporate in Texas?

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"This was above minimum wage at the time" was one of several very good jokes.

"a salary of $1 a year, which was below minimum wage at the time"

TIL minimum wage in 1993 was between $1 and $2 million per year. Fascinating!

If a business is too loose for Delaware, you got problems

20:10 "after all man cannot live on Stock options alone"😂😂😂😂 well played Patrick, well played

Elon Musk wants $50,000,000,000 so that he will get out of bed and work.

Here are some numbers just to put 55.8 billion dollars into perspective: The cost of the Burj Khalifa, the tallest building in the world: ~1,5B You could buy more than 35 Burj Khalifas for Elon's compensation package. The GDP of Iceland: ~26B You could buy 2 years of Iceland's total economic output for Elon's compensation package. Nintendo's profits from all Mario games ever sold: ~45B. Elon's compensation package is bigger than 40+ years of profits from arguably the most iconic video game series in existence. The compensation package of Stephen Schwarzman, head of Blackstone and one of the highest paid CEOs in America: ~253M Stephen Schwarzman would have to work for over 200 years at his current income to reach the same level as Elon's compensation package.

Getting paid with options sounds like a infinite leverage glitch

Cult of personality, whether in business, politics or pop culture, is the reason we’re in this mess.

This bizarre trend of overpaying CEOs has essentially become circular (and nearly tautological) in its justification. A well paid CEO is well paid because CEOs at good companies should be paid well, so obviously if you're paying your CEO well it means you're a good company. That's how that works, right?

$19 billion for being a lawyer. Talk about obscene!

Once worked at a Logistics centre in UK that had a contract to distribute a US product that had a shelf life. The US managers of the company in the UK would change regularly after all falling into the quarterly reporting trap. The stuff was pushed out to retailers on sale or return to manage the reporting then a chunk would come back as it passed it's sell by date and the manager would be fired, rinse and repeat until they gave up on the UK market as unprofitable....

Imagine if you as a worker argued you needed extra compensation and a stake in the business to properly do your job.

Elon Musk: Am considering taking Tesla private at $420. Funding secured. 😅

Common Sense Skeptic is a great channel, good on you for mentioning them.

"he took a salary of only $1 a year, which was less than minimum wage at the time" 😂

Would have been useful if you had presented the structure of Musk's pay package. Would've fit in nicely after the very interesting "history of CEO pay" part of the video.

“Dear shareholder, Let me tell you why paying more corporate taxes and myself is a win-win for you….”

In response to people talking about LLCs in different states being like the "Switzerland of the US", neither Delaware nor Texas are anything close to offering the level of privacy that Switzerland was famous for. Nevada is better in this regard, but... at least for people who are living outside the US, arguably the best tax shelter product available in the world now is a South Dakota Trust with the addition of Wyoming LLCs as needed. South Dakota and Wyoming have conditions on these entities that keep the identity of the true owner of completely hidden, including not reporting information to foreign governments or even the IRS. If you want to get really crazy, there's some people out there that claim that setting up an LLC in the country of Nevis and operating it here in the US is even more powerful than even Wyoming, and you'd be shocked that this is even legal once you learn some of the benefits Nevis LLCs purportedly offer.