Recent reports suggest Tesla is preparing to make Elon Musk the world’s first trillionaire, potentially granting him up to 423.7 million additional shares over the next decade. However, these shares would only vest if Tesla reaches a staggering $8.5 trillion valuation, roughly eight times its current worth. Analysts say the move aims to secure Musk’s focus on Tesla amidst his increasing political ventures, with Gene Munster of Deepwater Asset Management telling CNN, “The simple message the board is sending to Elon: ‘We want your attention on Tesla.’”
A Warning from the Pontiff
Reacting to the news, Pope Leo spoke out on the growing income divide during an interview with The Crux released on his 70th birthday. He highlighted the widening gap between executive pay and worker salaries, noting that CEO earnings, once four to six times higher than their employees, now average 600 times the pay of the typical worker.
Without directly condemning Musk, Pope Leo singled him out as a symbol of extreme wealth, saying, “Yesterday the news that Elon Musk is going to be the first trillionaire in the world. What does that mean and what’s that about? If that is the only thing that has value anymore, then we’re in big trouble.” The pontiff emphasized that such disparities foster polarization and social strain, issues increasingly visible in economies like the United States.
Pope Leo’s concerns echo broader economic trends. According to Visual Capitalist, the US hosts around 40 percent of centi-millionaires and nearly 30 percent of global billionaires, underscoring the country’s outsized concentration of wealth.
Tesla Board Defends Musk’s Ambitious Pay Package
Earlier, Tesla chair Robyn Denholm has defended the proposed $1 trillion stock award for Elon Musk, describing him as a “unique” CEO capable of achieving what she called “impossible things,” according to the Financial Times. Denholm emphasized that the award is contingent on Musk meeting ambitious milestones, including octupling Tesla’s valuation and drastically increasing earnings.
She also highlighted that the package is designed to keep Musk focused on Tesla rather than his political ventures, stating that the board’s role is to motivate him while respecting his free speech. Denholm noted that without Musk, certain company activities would continue, but she believes Tesla’s long-term success is best secured with him at the helm.
A Warning from the Pontiff
Reacting to the news, Pope Leo spoke out on the growing income divide during an interview with The Crux released on his 70th birthday. He highlighted the widening gap between executive pay and worker salaries, noting that CEO earnings, once four to six times higher than their employees, now average 600 times the pay of the typical worker.
Without directly condemning Musk, Pope Leo singled him out as a symbol of extreme wealth, saying, “Yesterday the news that Elon Musk is going to be the first trillionaire in the world. What does that mean and what’s that about? If that is the only thing that has value anymore, then we’re in big trouble.” The pontiff emphasized that such disparities foster polarization and social strain, issues increasingly visible in economies like the United States.
Pope Leo’s concerns echo broader economic trends. According to Visual Capitalist, the US hosts around 40 percent of centi-millionaires and nearly 30 percent of global billionaires, underscoring the country’s outsized concentration of wealth.
Tesla Board Defends Musk’s Ambitious Pay Package
Earlier, Tesla chair Robyn Denholm has defended the proposed $1 trillion stock award for Elon Musk, describing him as a “unique” CEO capable of achieving what she called “impossible things,” according to the Financial Times. Denholm emphasized that the award is contingent on Musk meeting ambitious milestones, including octupling Tesla’s valuation and drastically increasing earnings.
She also highlighted that the package is designed to keep Musk focused on Tesla rather than his political ventures, stating that the board’s role is to motivate him while respecting his free speech. Denholm noted that without Musk, certain company activities would continue, but she believes Tesla’s long-term success is best secured with him at the helm.
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