this post was submitted on 31 Aug 2023
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302
Tesla is reportedly under investigation by the DOJ and SEC over it's mysterious 'Project 42' (www.businessinsider.com)
submitted 1 year ago by [email protected] to c/[email protected]
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Tesla is reportedly under investigation by the DOJ and SEC over it's mysterious 'Project 42'::The project was internally believed to involve building a glass house for Elon Musk, the Journal previously reported.

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[–] [email protected] 2 points 1 year ago (2 children)

So if he were to give himself a bonus and use that money to build the house would it still be illegal? Genuinely asking

[–] [email protected] 11 points 1 year ago

No CEO of a public company has the power to just "give himself a bonus" if the sum is to be any more than pocket money. The board has to approve it.

[–] [email protected] 6 points 1 year ago

The board would need to approve of that bonus, and in turn the board is accountable to shareholders. If a CEO starts using a public company as a personal piggy bank, shareholders have grounds to sue.