Wednesday, 9 September 2020

MUSCOVITE MUSK IS AN IMBECILE. REICH IS RIGHT. WORKERS CAN'T RELY ON SHARE ISSUES FOR WAGES.

 

Elon Musk Trades Insults With Robert Reich Over Tesla Pay Cuts

Elon Musk and Robert Reich
Elon Musk and Robert Reich Source: Bloomberg

Elon Musk didn’t mince words after Robert Reich, the Clinton-era labor secretary who now researches public policy at the University of California, Berkeley, criticized the Tesla CEO over pay cuts earlier this year and called him a “modern-day robber baron.”

“All Tesla workers also get stock, so their compensation increased proportionately,” Musk said on Twitter Wednesday in a response to Reich.

Musk’s net worth plunged as much as $16.3 billion Tuesday, the largest single-day decline in the history of the Bloomberg Billionaires Index, as Tesla shares fell more than 20% before rebounding 6% on Wednesday. Even with this week’s rout, the company’s shares have more than tripled since the April pay cuts.

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