“This is what oligarchy looks like”: Musk’s $1 trillion deal draws fierce criticism

If Tesla CEO Elon Musk meets certain milestones for the tech company s industry share and operational performance over the next decade he ll get a trillion compensation package worth more than the GDP of Switzerland or Poland Such goals include more than doubling the number of Tesla vehicles delivered from million to million and raising operating profit from billion to billion according to AP Even as the tech billionaire celebrates the shareholder vote critics are viewing the contemporary deal less as an reward for innovation or leadership and more of a symptom of out-of-control inequality Sen Bernie Sanders I-Vt a staunch opponent of billionaires called the move by Tesla obscene Related Elon Musk company accused of nearly environmental violations If you re Elon Musk the richest man alive Tesla gives you a trillion pay package and Trump gives you a huge tax break Sanders wrote on X If you re a poor kid on SNAP Trump appeals a court decision that would have prevented you from going hungry Sen Roland Gutierrez D-Texas called Musk out for wanting to become a trillionaire off the backs of American taxpayers while blaming Tesla shareholders How do we make it in America with greedy hogs like this that just want to screw us over and over again Gutierrez stated in a video on Thursday Start your day with essential news from Salon Sign up for our free morning newsletter Crash Class Sam Abuelsamid an analyst at research firm Telemetry who has been covering Tesla for nearly two decades blasted shareholders for putting so much absurd value in Musk He has hundreds of billions of dollars already in the company and to say that he won t stay without a trillion is ridiculous Abuelsamid commented Prior to the deal being approved concern about Musk becoming a trillionaire was still present even at the highest office in the Vatican Pope Leo XIV expressed his worries about a wider gap in income between the rich and poor around the world and mentioned Musk by name The previous 24 hours the news that Elon Musk is going to be the first trillionaire in the world the pope mentioned in an September interview with Crux If that is the only thing that has value anymore then we re in big trouble Read more about Elon Musk Tesla s futuristic diner fizzles It s all to help Elon How Musk s shadowy army of lobbyists cajoled Texas lawmakers As feud reignites Trump threatens Musk s billions BIG MONEY TO BE SAVED The post This is what oligarchy looks like Musk s trillion deal draws fierce criticism appeared first on Salon com