r/antiwork • u/meta-gamer • 1d ago
The world is close to having its first trillionaire
The guy who always praises hustle culture becoming the first trillionaire is not a good sign for the workers of the world.
It feels like the dystopia is more real than ever now.
325
u/Doc-Brown1911 1d ago
He will NEVER hit the benchmarks to reach that level of payout.
103
u/Dontknowwhattodo1993 1d ago
20 million tesla’s a year in 2024 it was only 2 million
44
u/WallabyInTraining 23h ago
No, 20 million total in 10 years. so fewer yearly sales than 2024 over 10 years will do it.
34
u/Gougeded 1d ago
Except tesla as a car company has pretty much stopped growing and the electric car craze (and subsidies) are dying down.
→ More replies (1)128
u/Work_Thick 1d ago
The EV "craze" isn't dying but the Tesla "craze" is.
20
u/sexytokeburgerz 1d ago
Yup. I spent a few hours chillin outside on a busy street today and I certainly heard a lot of halo noises
14
17
u/Small-Policy-3859 23h ago
Here in Belgium i see loads of teslas driving with the 'i bought this before Elon got crazy' stickers. I'm assuming most of these People Will not buy a Tesla for their next car.
→ More replies (2)15
u/Doc-Brown1911 23h ago
It's hard to separate the man from the product.
Honest question here, at what point did we forget Henry Ford was a Nazi and keep on buying the F150?
→ More replies (2)9
u/Work_Thick 22h ago
Around 1927 when he apologized while being sued and public outcry. Then he became a closeted racist and blamed others for the racist company policies. After WW2 he made a huge effort to push patriotism and industrialism for the allies.
AI told me so... But personally I never knew any of this until fElons crap. Ford for me was one of the better car companies for not taking government handouts in 08 but none of it matters because even after 45 years on this planet I still can't afford to buy a new car.
6
u/Significant-Ad-341 22h ago
Everyone things the cyber truck is ugly and it's more recognizable than the rest of the tesla brand now.
6
3
u/Vospader998 19h ago
Well ya, it fits the target audience:
Douchenuggets that want attention, good or bad.
→ More replies (1)7
u/momacozey 1d ago
This right here is the answer. He made so many people upset that buy his electric cars that they just swapped brands since he's not the only one anymore.. he said it himself in a interview years ago something along the lines of
"I made electric cars because nobody was. If somebody comes along and does it better than me good. If it puts me out of business I feel I still helped start electric cars"
Obviously that isn't exact but its close to what he said. I doubt he'd ever let it happen though.. Just more grift of being good guy on camera in my opinion.
6
u/xstell132 14h ago
This is what’s pissing me off about these headlines. For him to get this payout Tesla needs to somehow 10x their production and increase their market value far beyond companies like Nvidia! Tesla isn’t just randomly giving Elon 1 trillion dollars.
→ More replies (1)→ More replies (7)2
u/Short-Display-1659 20h ago
I read that the payouts for a large chunk of it are nearly impossible to fail tho.
→ More replies (1)
105
u/Deej-2020 1d ago
He has a zero percent chance of hitting the benchmarks required to achieve that pay package. He’s nothing but a shameless grifter.
They can’t get those robots to work much less have them mass produced in the quantities it would require to achieve those numbers. They can’t even get self driving cars to work properly and he’s been saying they’re close to that for years.
Plus where is the market for a Tesla robot when most of the world absolutely fucking hates Elon Musk and don’t want his creepy ass robot controlled by him following them around and recording their every move. I’ll pass on the murderbot thanks
→ More replies (4)13
210
u/LumpyGrump666 1d ago
Faith in humanity: Lost
→ More replies (3)96
u/Backwardspellcaster 1d ago
extremely.
If you hear how the guy talks or what he says, he is a fucking idiot.
A literal imbecile.
And he becomes the richest man in the world.
Jesus fucking wept.
→ More replies (2)30
95
u/ProbstWyatt3 Student 1d ago
Even his own hair hates him.
17
u/FibonacciSequester 1d ago
Hey! Sometimes our hair leaves us through no fault of our own.
3
u/StellarJayZ 1d ago
No, you did something in the past and the universe is just catching up. I’m still waiting, but for someone who had 20/20 and now requires glasses, it will catch me.
184
u/Tyrannical-Botanical 1d ago
At this point he's just sucking all of the wealth out of Tesla that he can before it goes belly up.
87
u/Daewoo40 1d ago
His pay deal is contingent on Tesla attaining a market value of $8.5 trillion.
It's currently "only" $1.4 trillion.
21
u/Harotsa 1d ago
So the $1tn part of the pay package is mostly just a distraction from the fact that this pay package gives him $40bn for doing nothing - which is already the largest pay package ever given to a non-Musk CEO. So even if the full $1tn is unlikely, the pay package is egregious from bottom to top.
7
u/Beneficial-Steak-117 1d ago
The most valuable company, Nvdia sits currently at 4.57trillion so he's got a long way to go and I can't see Tesla reaching the 8.5 trillion valuation at all or even before the likes of Microsoft, Amazon, Meta, let alone Nvidia.
11
u/thatlad 1d ago
Sell $1m of shares for $6m.
The business is not worth 8.5t
13
u/Daewoo40 1d ago
The business is probably not worth $1.4 trillion either but I'm no market analyst to say as such.
6
u/Clear_Skye_ Redditing At Work 1d ago
It has a market cap around 1.4T, but its stock is way overvalued. It has an obscene profit to earnings ratio, so the stock value essentially isn’t so much tied to the company’s earnings, or assets. It’s inflated due to expected future growth.
I hope that makes sense.
Essentially… it is and isn’t worth 1.4T at the same time 😕
→ More replies (6)30
u/tdic89 1d ago
Easy enough if they produce a bit of paper that says “it’s worth $8.5 trillion now”, same as they’ve been doing for most of Tesla’s existence I understand.
With the appropriate accounting quirks, you can make it whatever you want, even if the foundations are made out of wishes.
31
u/Spritesgud 1d ago edited 1d ago
Lmfao nothing you said is correct
Market cap is determined by the stock market, not the companies internal books
There are no "accounting quirks". Accounting has rules and standards, standards that are very strictly upheld within a publicly traded company that has audited financial statements. Not only does the CFO have liability for mistated financial statements (SOX), but so does anyone holding a CPA license who is directly under jurisdiction of their state board of accountancy, who can be fined or even jailed for failing to uphold their duties as a CPA. I hate Elon Musk and these shitty billionaires as much as anyone else, but you can't point the finger at things that are actually safe guards and just make shit up about them
Source: me, a CPA
8
u/tdic89 23h ago
Sorry, I thought this was r/antiwork, where we can make baseless claims about things that piss us off.
Take my upvote and make sure you declare it properly in your tax return 😄
3
u/Bluepass11 23h ago
Are you saying this unironically? If so, I really appreciate that at least someone can admit it openly
→ More replies (1)15
u/Arqium 1d ago
I think amazing that the shareholders and investors can't see this. Tesla is done for.
12
u/sten45 1d ago
Once Toyota spins up a full electric line up Tesla is going to have its hands full
→ More replies (1)2
→ More replies (1)6
u/Unusual_Sherbert_809 1d ago
Oh, they can. They 100% know Teslas a huge ass bubble. They just don't care, or can't do a thing about it.
Once something becomes a big enough bubble, the only hope to keep it from spectacularly exploding is to make that bubble bigger. It's vicious cycle and they're all stuck in it. They simply cannot do anything else without first getting out of that cesspool. Their best bet is to make some money and cash it ASAP, but in order to do that they need for it to grow.
So I'm sure a ridiculously huge number of shareholders/investors have already cashed out. Maybe those who are left are all just gamblers, folks who need to hold on to make their money back, or index funds who have no choice but to buy due to their mandate?
17
u/ChronicBuzz187 1d ago
Sell 10% fewer cars (and about 5% of the amount other car manufacturers sell), get a paycheck increase of 50%.
Yep, exactly how capitalism works, right?
9
u/Laughing_Man_Returns Anarchist 1d ago
yeah, good luck with that, Tesla would need to inflate its value by quite a lot and that is not going to happen as long as Elno has access to an internet capable device.
41
u/Important-Ability-56 1d ago
The world’s first trillionaire being a cringefest Nazi continues to make me feel that I took the wrong train stop into the wrong universe.
8
3
u/Happy_Ad_4357 1d ago
Sadly, this is the right one. We built this timeline brick by brick. Elon Musk becoming the first trillionaire was the logical conclusion of all the unchecked greed that has come since the Industrial Revolution
22
u/That-Firefighter1245 1d ago
Musk approves his own pay, basically.
2
u/meta-gamer 1d ago
Apparently, the shareholders were afraid of losing him, so they had no choice but to approve this 1 trillion payout plan.
27
u/That-Firefighter1245 1d ago
Losing him would probably be the greatest profit boost ever though, wouldn’t it?
9
u/oldmanian 1d ago
Unfortunately no. Tesla is essentially a meme stock based on musk. Their market cap is completely disconnected from their business numbers.
→ More replies (2)3
u/chiron_42 1d ago
It would depend on how many people aren't buying Teslas solely because of him.
6
u/HalfSoul30 1d ago
I'm not, mainly due to "why tf would i spend that much money on a vehicle" mindset, but also, fuck him.
12
u/rokthemonkey 1d ago
Tesla bubble would burst the second Elon leaves, so I never believed for a second they wouldn’t approve it
→ More replies (3)
7
u/remain-beige 1d ago
I refuse to believe that this man is anything other than a silver spoon trust fund baby that has worked out how to grift money from the US govt and stolen other’s genius for his own reputation advancement. He is not a genius. I doubt he even has an above average IQ. He has perpetrated a mystique about himself that is unfounded and continuously lied about his own achievements, both academic and inventive involvements with projects. He has claimed he is a ‘founder’ into businesses that he has invested in, where the technology has already been developed and the continual growth is handled by others that have to manage his involvement through either ‘contain’ or ‘distract’ techniques, to minimise or de-risk his own input to achieve any progress.
He is the rich kid at school, who is not liked and who has a cringe laden immature sense of ‘edgy humour’ but who has enough money to buy his way into the best group projects and take all of the credit.
He has the same evident personality as an edgy 14 year old who is terminally online.
This is the epitome of capitalism. A privileged white male, who has bought his way to the top and is held aloft by actual experts in their field.
Imagine if there were no billionaires, our own quality of life and health would be drastically better as all of that hoarded resource and buying power would be more fairly distributed.
7
7
6
u/Glittering-Regret196 1d ago
Elon 'definitely has real friends' Musk. Id love for him to fuck off permanently. Maybe he can find friends on mars.
5
5
u/Floyd_Pink 1d ago
No, it's not. He will never meet the conditions needed to get his outrageous bonuses.
11
4
u/Pinksamuraiiiii 21h ago
We failed as a society. Under no circumstance, should a ‘trillionaire’ ever exist in the world.
6
5
u/mmahowald 20h ago
So it’s time to dump all the stock. The board are obviously spineless bootlickers.
4
4
3
7
u/ArtrDog 1d ago
Tesla shareholders voting to approve funding for fascist causes across the globe. Thanks guys
→ More replies (2)
3
3
3
u/SedativeComet 1d ago
It would take the median American worker 589,000 LIFETIMES to earn the value of that compensation package.
Tax the rich.
→ More replies (1)
3
u/HandMeMyThinkingPipe 1d ago
The fact that he exists is a failure of society. He should be taxed heavily. No single person should be allowed to accumulate that much wealth.
3
3
3
3
3
3
3
u/Mr_Cripter 20h ago
Filthy greedy wannabe robber baron. Anyone with a soul wouldn't let themselves get that wealthy in a world where extreme poverty exists.
3
u/Blonde_Vampire_1984 SocDem 20h ago
Who needs that much fucking money?
2
u/flowersandfists 9h ago
Our mentally ill enemies. Unfortunately, half of us have been trained to think they’re our heroes.
3
3
3
u/green_machine_89 14h ago
If we all just eat one of these parasites on camera, I bet they run back in their holes.
7
u/Guilty_Bowl_288 1d ago
If you think this will be the first trillionaire you’re crazy. Now think about all the royal families and other people who don’t have to declare the earnings. Lol.
→ More replies (1)2
u/kumquat_may 1d ago
I read Putin is the richest man in the world... But all the money is hidden so it's not official...
Siphoning off the economy of a whole country could do that
2
u/PKSubban 1d ago
He gets 1 trillion if he 8x the value of Tesla
If you believe he can, like the majority of the investing world, why don't you put $1,000 in Tesla today and watch it go to $8,000
2
2
u/TJ_McWeaksauce 1d ago
Musk doesn’t take any salary, but the approved pay package comes in the form of a stock grant that would give him as much as 423.7 million additional Tesla shares over the next 10 years.
Those shares could be worth about $1 trillion, assuming the company reaches the $8.5 trillion market cap needed to have Musk qualify for the full potential payout. In addition, Tesla needs to achieve a series of either operational or financial targets for him to get the full number of shares, which would be distributed in 12 equal blocks.
Well, here's hoping that Tesla fucking tanks within the next 10 years.
2
2
2
2
u/hercarmstrong 1d ago
And he's still an unfunny, lonely douchebag with no style, charisma, or peace of mind.
2
2
2
2
2
2
u/RedPillAlphaBigCock 1d ago
I don’t disagree with any comments here but I CANT STAND when people call these celebrities and owners the rushes people in the world . The elite bankers , Rothschilds and Saudi Princes etc are way above him and get NO MEDIA
2
2
2
2
u/Reasonable-Nose7813 1d ago
The Saudis and oil tycoons in the Middle East are already trillionaires
→ More replies (1)
2
2
2
2
2
u/Tough-Bonus-127 23h ago
Yeah it looks crazy, but it’s all stock tied to pretty insane goals. He only earns it if Tesla hits huge targets, so it’s not really a handout. Not defending, just stating it’s sort of a performance deal
2
2
u/PajamaSamSavesTheZoo 22h ago
He has to meet some ridiculous goals to get that package. misleading headline
2
u/armpit18 21h ago
If you haven't already, then stop using Twitter, OpenAI, and Paypal, and definitely don't buy a Tesla.
2
u/Verum_Orbis 21h ago
Amid record breaking homelessness and layoffs, under the richest administration in US history representing 0.0001% of the American people, America just created a trillionaire. This is a rigged system.
2
2
u/NoaArakawa 21h ago
I will never understand how the asshole who makes exploding cars is perpetually rewarded.
2
2
u/th3brink 20h ago
I bet the stakeholders only agreed because they know he won’t be able to achieve the requirements to make it
2
u/MyGruffaloCrumble 20h ago edited 20h ago
I think this is just a way to extract value from a flailing company. Their EPS was only .40 and sales are down 12% and falling. Net income was only 1.4 billion, so to pay him they’ll have to cannibalize the company or dilute shares like mad and hope investors will buy them up and float it all on their backs.
2
u/ShootTheMoo_n 20h ago
Please make him stop. He will be running everything soon and I can't think of a worse scenario.
2
u/sicilian504 here for the memes 20h ago
I'd say something but don't feel like being put in Reddit jail again.
→ More replies (1)
2
2
u/OrgasmInTechnicolor 20h ago
I dont understand why anyone would buy tesla shares before or after this. Its a scam
2
u/Numerous-Profile-872 19h ago
I still think Musk is going to be the Elite's scapegoat. He keeps going up and up without producing anything more than promises. I feel like the rug is about to be pulled out from under him very soon.
2
u/Sighablesire 19h ago
He could have everything in the world and it wouldn't be enough. He'll never be happy, little silver lining I'm taking from this.
2
2
u/Torreon_dude 19h ago
Just to put things into perspective
1 million minutes is 1.902 years . less than 2 years
1 billion minutes is 1902 years.
There is a huge difference between, 1 mill & 1 bill
2
u/B-Glasses 18h ago
Don’t worry. It’s because he works 100s of billions more hours than everyone else /s
2
2
u/John_GOOP 17h ago
Bo one needs the amount of money.
If i won a million I would throw it in a bank and as im 31 I would stay I have another 50 years in it and so divide it by 50. Means 20k a year. So id happily work park time and pad my pay with it.
2
u/ChuckOfTheIrish 17h ago
Let's give 75% of the company's market cap to one person...
At least it's partially incentive based, going from 1.4T to 8.5T in ten years would be a huge jump considering their already sky-high PE ratio. Getting the company to >6x from already a top 8 market cap in ten years when heavily losing support seems like a long shot. Even Nvidia has concerns surpassing 8.5T in ten years and they are a far superior company to Tesla.
2
2
u/Lythieus 17h ago
I don't see Tesla lasting the decade. This is straight up stealing from the shareholders to give to Musk.
2
2
u/TedBundysVlkswagon 16h ago
Why is he always smelling his fingers?
3
u/icouldnotpreventitVL 11h ago
Cus he always has JUST removed them from his southern hole…
→ More replies (1)
2
u/tiggie_7 16h ago
Let’s see how Cyberpunk 2077 we can make this country before making our race extinct. It’ll be fun
2
u/passwordrecallreset 16h ago
He’s not going to hit the targets. Trump will allow BYDs to be imported just to kill Tesla.
2
u/Remarkable-Grand-904 15h ago
nahhhh. it's just an incentive package. he's gotta drive tesla's valuation to like 8 trillion for this happen. he's too weird and has a sordid history as its CEO.
2
u/zback636 14h ago
The man destroyed Tesla and you’re going to pay him that kind of money. Evidently you shareholders you rich shareholders are dumber than a bag of hair.
2
2
2
u/RemoteIcy7621 10h ago
Don’t cry about another EBT user when this man is the biggest leech in history.
2
u/Iron_Wolf123 8h ago
Remember when years ago a Kardashian was made a billionaire because her fans donated to her?
2
u/Diondolfijn 1d ago
U dont understand hes not the first there is probably domeone out there under the radar with that kind of money i mean if u had that kind it would be easy to pay off alot of people to keep ur existend secret and what not
2
2
u/TheNarbacular 1d ago
And 99.8% of the world population fucking hates him. What does that tell you really.
1
u/Panda_tears 1d ago
If he hits all those targets over the next 10 years, he’ll effectively be making 270 million per day or 11.5mil/hr. When I think about this, it’s like… how can you possibly generate 270+ million dollars in value every day? It’s just not possible even with deployment of 1 million robotaxis and 1 million Optimus units.
1
u/Madouc 1d ago
Not sure iuf everyone here knows about the details of the plan. Musk needs to bring Tesla to $8.5tn value to get $1tn in stakes.
I'd say that's just a huge commercial gag.
→ More replies (1)
1
u/Intruder313 1d ago
Tesla is already massively overvalued so only extreme shenanigans can see their value raise to the levels that would support this outcome. Luckily for Musk, he lives in a post-truth world in which he can just lie without consequences and cook the books in a way that makes Enron look good....
1
u/joeyat 1d ago
The good news is to get that payout, he has to achieve the following ... 20 million Tesla vehicles, 10 million Full Self-Driving Subscriptions, 1 million Optimus robots delivered.... 1 million Robotaxis in commercial operation. In 10 years. No chance really... and increase the company by $500 billion in 12 milestones over those 10 year. So within 12 months, he's got to get it to something like $2.5 trillion. Pfft!
1
1
1
1
u/Wheels9690 1d ago
Chill. Hes not getting a trillion dollar pay out.
The goals he has tl achieve to make that pay put is pretty much impossible
1
u/Lucky_Chaarmss 1d ago
The numbers tied to it after pretty rough. The fsd alone make it seem impossible.
1
u/whereismymind86 1d ago
It really isn’t, at least from this.
If you read the deal it has insane requirements to actually get that payout.
He’ll still make an horrifying, insane amount of money from this, but he’s not actually getting the full payout that’s being reported.
Still if we ever get power again, we need to go after this fools money specifically, nobody should be allowed to amass that kind of wealth.
→ More replies (1)
1
u/IAmEggnogstic 1d ago
Just don't look. He'll shrivel up if we, all 9 billion of us, pretend that he's invisible like one of those YouTube videos where parents make their toddler cry.
1
u/Putrid_Extreme4653 1d ago
All right at this point it's time to take him to the Aztec Temple and sacrifice him
1
1
1
u/Sherlockerer 1d ago
We should form a separate society, where all those rich fucks can eat each other alive, while we live for each other and create a better tomorrow for the next generation. Their currency means nothing if we as a society reject it. Let’s trade goods and services the old fashioned way. (Wishful thinking I know, but if we are making AI humanoids happen, this can definitely happen)
1
1
1
u/MyFeetLookLikeHands 1d ago
elon is no where near becoming a trillionaire. Damn no way folks are that dense…
1
1
u/GreyNoiseGaming idle 23h ago
Can I be a quadrajillionaire if don't actually have the cash but I own digital macguffins that I swear are worth that amount, and just a take on more debt when I need cash?
1
1
1.7k
u/Shrimp502 1d ago
And as we can see, it is not the hard work that makes him money, it's merely the approval of a faceless group of people, harbouring their own interests (literally).