Shareholders should not be happy at all. At least, Musk and his board members finally have a return a small portion of what they looted from Tesla. Elon Musk and other Tesla board members agree to return over $735 million in stock and cash https://electrek.co/2023/07/17/elon-musk-tesla-board-members-agree-return-735-million-stock-cash/ Elon Musk and other Tesla board members have agreed to return over $735 million in stock awards and cash as part of a settlement of a lawsuit over the board’s compensation. In 2020, the Police and Fire Retirement System of Detroit, a Tesla shareholder, decided to sue Tesla over what it believed to be excessive board compensation that had been improperly awarded since 2017. The defendants include Elon Musk, CEO and board member at Tesla, his brother Kimbal Musk, media mogul James Murdoch, billionaire Larry Ellison, and virtually every Tesla board member of the last six years. They have received hundreds of millions of dollars worth of stock options over the years. To be fair, much of the value of those stock options has been due to the rise in the value of Tesla’s stock over those years. In a new filing with the court last week, Tesla has agreed with the plaintiff on a massive settlement that would see board members return over $735 million worth of stock awards and cash. As part of the settlement, Tesla directors don’t admit to any wrongdoing and settle “to eliminate the uncertainty, risk, burden, and expense of further litigation.” The settlement is significant. The directors agree to forfeit all compensation from 2021 to 2023. It means canceling existing stock options, returning stocks from options that were exercised, and even returning cash from stocks that were sold after the options were exercised. It adds up to $458 million worth of stocks and $276 million in cash being returned to Tesla. On top of the stocks and money being returned, Tesla’s board has also agreed to hire a new outside consultant to look into its board compensation. The judge overseeing the case, Chancellor Kathaleen St. J. McCormick, needs to approve the settlement before it becomes official. Interestingly, McCormick is also presiding over another compensation lawsuit related to Tesla, but this one is specifically about Elon Musk’s 2018 CEO compensation plan, which could be worth as much as $55 billion. Musk refused to settle this lawsuit, and the judge is expected to rule on it soon. (More at above url)
That's not all that different from a lot of different companies. The CEO is not Musk, that's all there is to it.
It looks like the active daily user count on Threads has dropped OVER 50% in ONE WEEK Plus the time spent there for an active user... has dropped from 21 minutes to 6 minutes. Looks like there's only one Twitter".
Key takeaways: On its best day, July 7, Threads had more than 49 million daily active users on Android, worldwide, according to Similarweb estimates. That’s about 45% of the usage of Twitter, which had more than 109 million active Android users that day. By Friday, July 14, Threads was down to 23.6 million active users, or about 22% of Twitter’s audience. Usage in the US, which saw the most activity, peaked at about 21 minutes of engagement with the app on July 7. By July 14, that was down to a little over 6 minutes. https://www.similarweb.com/blog/insights/social-media-news/threads-week/
The claims by Musk and Yaccarino are laughable. There is no social media site on the web filled with more hate Twitter 2.0 -- especially since Musk actively promotes people posting hate. Twitter Claims It's Combating Hate Speech. But All the Evidence Says Otherwise https://www.yahoo.com/entertainment/twitter-claims-combating-hate-speech-222417813.html Twitter Claims 99% of Its Content Is Healthy, Internet Rolls Eyes The bird site insists that 99% of the content seen by users is 'healthy,' but the proclamation comes as Twitter struggles to attract advertisers, its main revenue source. https://www.pcmag.com/news/twitter-claims-99-of-its-content-is-healthy-internet-rolls-eyes Twitter’s Surge in Harmful Content a Barrier to Advertiser Return Since Musk’s takeover, a number of researchers see a rise in hate speech, violent content https://www.bloomberg.com/news/arti...tent-a-barrier-to-advertiser-return#xj4y7vzkg