business6 months ago
AI Talent Wars Drive Up Salaries Amid Superintelligence Race
OpenAI's stock compensation expenses highlight the high costs associated with competing for top talent in the tech industry.
Tag
Stock Compensation
All articles tagged with #stock compensation
"Lawyers Seek $6 Billion in Tesla Shares After Musk's Pay Pact Struck Down"
Lawyers representing a Tesla investor who successfully challenged Elon Musk's $55.8 billion pay package are seeking their legal fees in the form of about $6 billion worth of Tesla stock, arguing that it would directly link the award to the benefit created and be tax-deductible by Tesla. This request comes after a judge voided Musk's compensation plan, citing conflicts of interest and inadequate public disclosure. Musk has criticized the lawyers' request, and the case is now moving toward finalizing the judge's ruling.
"Google's Strategy to Retain Talent: Special Stock Offerings"
Google is using a special stock compensation program to retain its top artificial intelligence researchers at its DeepMind unit, as rival OpenAI entices them with lucrative pay packages. The restricted stock grants, worth millions of dollars per person, are being utilized by DeepMind leaders to compete with OpenAI's attractive offers, as Google undergoes staff cuts.
Tesla Eliminates Yearly Stock Compensation for Employees
Tesla has decided not to offer its employees yearly merit-based stock awards, according to Bloomberg News. The move comes after the United Auto Workers union announced plans to organize the nonunion auto sector, including Tesla. While workers received cost-of-living increases and adjustments to their base salaries, the decision to skip merit-based stock compensations is believed to be widespread among salaried employees. Some employees who completed their four-year vesting cycle were given stock "refreshers" to maintain competitive compensation.
Elon Musk devalues Twitter to $20 billion.
Elon Musk told Twitter employees that the company is now worth about $20 billion, less than half the amount he paid for it. Musk provided the $20 billion figure in an email sent to staff on Friday to announce a new stock compensation program. Musk also said in the email that he believed Twitter could someday be worth $250 billion. Musk warned workers that Twitter remained in a precarious financial position and, at one point, had been four months away from running out of money.
Musk admits Twitter worth less than half of his purchase price.
Elon Musk reportedly told Twitter employees in an email that the company is now valued at $20 billion, less than half of the $44 billion he paid to purchase it last year. Musk also announced a new compensation program in which employees will be able to receive stock in his holding company, X Corp, that bought Twitter. Musk believes Twitter could someday be worth $250 billion. Twitter plans to allow employees to sell their stock every six months, similar to the practice at SpaceX.
Elon Musk Claims Twitter's Value Has Dropped by Half.
Elon Musk has valued Twitter at $20 billion, less than half of the $44 billion he paid for it five months ago. In an internal email, Musk described the platform's financial difficulties, saying it was trending to lose $3bn a year and was on the verge of bankruptcy. However, with advertisers returning, Musk said Twitter would break even in Q2 2022. Musk sees a "clear but difficult path" to a valuation of $250 billion, without saying how long that might take.
"Elon Musk's Conflicting Views on Twitter's Value"
Elon Musk values Twitter at $20 billion, a significant drop from the $44 billion he paid to buy the social network in October. In an email to Twitter employees, Musk warned that the company remained in a precarious financial position and had been four months away from running out of money. He announced a new stock compensation program for employees, granting them stock in X Corporation, the holding company he used to buy Twitter, under the $20 billion valuation. Musk also said he believed Twitter could someday be worth $250 billion.