{"id":1741273,"date":"2022-11-16T13:47:53","date_gmt":"2022-11-16T18:47:53","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1741273"},"modified":"2022-11-16T13:47:55","modified_gmt":"2022-11-16T18:47:55","slug":"breaking-elon-musk-says-hell-find-someone-else-to-run-twitter-report","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/breaking-elon-musk-says-hell-find-someone-else-to-run-twitter-report\/","title":{"rendered":"BREAKING: Elon Musk Says He\u2019ll Find Someone Else To Run Twitter: Report"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">24<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fbreaking-elon-musk-says-hell-find-someone-else-to-run-twitter-report%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1741273&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>Twitter CEO Elon Musk, testifying at his Tesla compensation trial in Delaware, told the court that he plans to find someone else to run Twitter, according to a new report.<\/p>\n<p>Musk also reportedly said that the fundamental restructuring of Twitter will be complete at the end of this week, and that the Tesla engineers whom he had asked to review code at Twitter worked on a voluntary basis.<\/p>\n<p lang=\"en\" dir=\"ltr\">Defense asks Musk about Twitter: He says he plans to find someone else to run it. As for those Tesla engineers &#8220;reviewing code&#8221;, they were there on a voluntary basis after hours, Musk says.<\/p>\n<p>\u2014 Becky Peterson (@beckpeterson) <a href=\"https:\/\/twitter.com\/beckpeterson\/status\/1592914835716870144?ref_src=twsrc%5Etfw\">November 16, 2022<\/a><\/p>\n<p>The trial is examining Tesla\u2019s 2018 compensation plan for the billionaire. The\u00a0plan awarded Musk shares of the company, which would be valued more as Tesla stock rose. The year before Musk\u2019s compensation plan was awarded, Tesla had lost nearly $2 billion.<\/p>\n<p>\u201cThe compensation plan included 12 batches of stock that Musk would receive if milestones were hit, including the market capitalization of Tesla as well as its revenue and adjusted earnings,\u201d CNN reported, noting that each batch would be earned if the company\u2019s \u00a0market capitalization rose an extra $50 billion over $100 billion.<\/p>\n<p>The company issued a <a href=\"https:\/\/www.sec.gov\/Archives\/edgar\/data\/1318605\/000119312518035345\/d524719ddef14a.htm\" target=\"_blank\" rel=\"noopener\">statement to stockholders<\/a> in which they explained why they were awarding the compensation plan to Musk.<\/p>\n<p>\u201cAs Tesla continues to grow, we have created a new 10-year performance award for Elon that incentivizes him to not only continue to lead Tesla over the long-term, but to help the company achieve these great goals. You will find more details about the proposed award in the following pages, but the basic premise is simple \u2014\u00a0Elon\u2019s compensation will be 100% aligned with the interests of our stockholders,\u201d a statement from the company said.<\/p>\n<p>\u201cElon will receive no guaranteed compensation of any kind \u2014 no salary, no cash bonuses, and no equity that vests by the passage of time. Instead, Elon\u2019s only compensation will be a 100% at-risk performance award, which ensures that he will be compensated only if Tesla and all of our stockholders do extraordinarily well,\u201d it continued. \u201cThe award consists of stock options that vest only if Tesla achieves specific milestones, which if fully achieved would make Tesla one of the most valuable companies in the world with a market capitalization of at least $650\u00a0billion\u00a0\u2014 more than 10x today\u2019s value.<\/p>\n<p>In 2020, Tesla shares skyrocketed an astonishing 743% as the best performing U.S. stock and it became the company became the most valuable automaker on Earth. Musk received no pay that year; the stock options he received were estimated at a value of $22 billion.<\/p>\n<p>\u201cFour of Musk\u2019s stock tranches vested during the course of 2020, giving him the right to buy 33.8 million shares at an exercise price of $2.4 billion,\u201d CNN <a href=\"https:\/\/www.cnn.com\/2021\/08\/14\/business\/elon-musk-pay\/index.html\" target=\"_blank\" rel=\"noopener\">reported<\/a> in August 2021. \u201cAs of Friday\u2019s close, those stocks were worth $21.9 billion.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Twitter CEO Elon Musk, testifying at his Tesla compensation trial in Delaware, told the court that he plans to find someone else to run Twitter, according to a new report. Musk also reportedly said that the fundamental restructuring of Twitter will be complete at the end of this week, and that the Tesla engineers whom &#8230;<\/p>\n","protected":false},"author":60,"featured_media":1464151,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[541],"tags":[],"class_list":["post-1741273","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-daily-wire"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1741273","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/60"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1741273"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1741273\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1464151"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1741273"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1741273"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1741273"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}