Norges Bank Investment Management, which oversees Norway’s sovereign wealth fund, is set to oppose Elon Musk’s $56 billion pay package at Tesla’s upcoming shareholder meeting. In a recently released statement, Norges Bank Investment Management acknowledged the value Musk’s leadership has brought since the 2018 grant. Still, the fund is concerned about the award’s total size, … Read more
To sway shareholder votes on his controversial US$56 billion pay package, Elon Musk is offering exclusive factory tours next month to just 15 shareholders. The upcoming vote, to be announced at the company’s annual meeting on June 13, is viewed as a test of Musk’s leadership. Investors, left in the dark by Tesla’s board’s silence … Read more
Facebook co-founder Dustin Moskovitz has escalated his attacks on Tesla, calling it “the next Enron” as the Elon Musk-led automobile company faces a turbulent month. Moskovitz, who previously accused Musk of delaying development of EVs by “overpromising,” took to Meta’s Thread on Wednesday with fresh criticism. Moskovitz’s post alleges Tesla has misled consumers “on a … Read more
In a surprise move, Tesla CEO Elon Musk made a weekend trip to China to push for approval of driver-assistance software, seen as a potential remedy for the carmaker’s declining revenue. The 52-year-old tech mogul met with Premier Li Qiang, the Chinese Communist Party secretary for Shanghai. Qiang had helped Tesla set up what is … Read more
Faced with the need for downsizing, Tesla CEO Elon Musk informed his employees of a 10 percent workforce reduction. This axing process would impact nearly 14,000 positions globally. However, according to five current or former workers who spoke to Business Insider, some individuals arrived at company facilities on Monday unaware they had been laid off. … Read more
Tesla’s board is still silent about their future plans after a Delaware court said they can’t give CEO Elon Musk a huge pay package, leaving the billionaire furious. Kathaleen McCormick, a Chancellor of the Delaware Court of Chancery, described the $55 billion (£43.33 billion) compensation package as the biggest ever given to a CEO of … Read more
A chicken shop owner in Manchester, who locked horns with Elon Musk’s Tesla, has lost. The trademark dispute left him £12,000 poorer. Amanj Ali, a small business owner in Bury, Greater Manchester, challenged Tesla by naming his chicken shop “Tesla Chicken & Pizza’ and ended up sparking a trademark showdown. In November of last year, … Read more
Tesla CEO Elon Musk warned engineers they’ll face “production hell” to launch the company’s revolutionary new EV, likely requiring them to live and work at the Texas Gigafactory. During the company’s earnings call, the Tesla chief noted that building the company’s next-generation EV will require workers to live and sleep on the manufacturing line at … Read more
A court in the US state of Delaware has voided a multi-billion dollar pay deal that was awarded to Elon Musk in 2018 by Tesla. The financial compensation package, consisting of $55.8 billion, was dubbed “an unfathomable sum” by Chancery Court Chief Judge Kathaleen McCormick. The lawsuit, which has been ongoing for years, was filed … Read more
Masculinity has been the overarching theme in automobile designs for centuries. Recently, however, as more electric car models emerge, macho designs have been at their peak. Since Elon Musk, the CEO of X and Tesla, came under fire for launching the masculine ‘Tesla’s Cybertruck’, designers have noted that electric cars are clearly being marketed towards … Read more
