electrek reports:

Tesla shareholders have voted once again to approve an absurd, biggest-in-history pay package for Tesla’s part-time CEO, Elon Musk. In doing so, they’ve voted to relinquish any control they could have had over the company, and instead to put it deeper into the hands of its largest saboteur.

Tesla’s shareholder meeting is happening today, with several consequential proposals which shareholders have been voting on in the last several weeks. In that time, Tesla has been campaigning hard and spending money to get out the vote and convince shareholders to give absurd amounts of money (in the form of shares) to Musk.

One problem, though, is that, well… all the proposals are dumb ideas. So rather than just making their recommendations and moving on like most corporate boards would, Tesla saw it necessary to push extra hard to get these proposals passed. The company went as far as to personally call shareholders who own only a single share, out of the ~3.5 billion shares outstanding, trying to get them to vote along with board recommendations.

It’s common for company boards to make recommendations on proposals, and usually those recommendations are in line with shareholder interests, and proposals typically skate through along the lines of said recommendations.

In this case, however, the board recommended positions that would dilute shareholders’ voting rights and share value significantly, while benefitting exactly one shareholder: Elon Musk, who currently happens to be the one person doing the most damage to Tesla’s business. And that required a huge, disinformational marketing effort to try to pull the wool over shareholders’ eyes, as Tesla has done before. [Continue reading…]