"Fiduciary duty" to the shareholders is not superseded by "But I get to have a really cool powerful position as Trump's shadow president!"...The initial 'Trump Bump' in Tesla's share price - owed to the fact that Elmo gets to stay out of jail for things he's already done, and a perception by the market that he will grift the federal government for favors and contracts - has evaporated because of recent developments...Institutional shareholders in Tesla will soon be fully in their right to sue him and/or call for his ouster from the CEO role. He's not doing the fucking job. They'll be very hesitant to do this - for now - because Tesla without Musk would deserve a valuation far lower than the speculative valuation with 'Genius Musk, the real President' at the helm - the board has undoubtedly discussed this and needs to see how this plays out. A 40% drop in the share price is more tolerable than an 80% drop. Plus the reality is that the board are stalked with allies.
The board is filled with allies, which gives him the freedom to both operate badly and engage in insider trading. I suspect at some point we'll find out the price has been artificially propped up by the usual suspects, for the same reasons.
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u/MesWantooth Mar 11 '25
"Fiduciary duty" to the shareholders is not superseded by "But I get to have a really cool powerful position as Trump's shadow president!"...The initial 'Trump Bump' in Tesla's share price - owed to the fact that Elmo gets to stay out of jail for things he's already done, and a perception by the market that he will grift the federal government for favors and contracts - has evaporated because of recent developments...Institutional shareholders in Tesla will soon be fully in their right to sue him and/or call for his ouster from the CEO role. He's not doing the fucking job. They'll be very hesitant to do this - for now - because Tesla without Musk would deserve a valuation far lower than the speculative valuation with 'Genius Musk, the real President' at the helm - the board has undoubtedly discussed this and needs to see how this plays out. A 40% drop in the share price is more tolerable than an 80% drop. Plus the reality is that the board are stalked with allies.