Rep. James Talarico (D-TX) has expressed criticism Tesla Inc. (NASDAQ: TSLA) CEO Elon Musk‘s new trillion-dollar compensation package, approved by investors at last month’s shareholder meeting.
“We can’t please the rich,” says James Talarico
Talarico criticized Musk in his post on the social media platform X on Sunday. “The reason poverty exists in the richest country in the world is not because we can’t feed the poor – but because we can’t satisfy the rich,” he said in the caption, calling on the government to raise taxes on the richest part of society.
“Do we really believe that one man is worth more than every elementary school teacher?” Talarico asked in a video accompanying the post. Talarico outlined medical bills that were driving patients into bankruptcy in America, and also addressed homelessness among military veterans.
“I’m all for success,” Talarico said, but he wondered whether Musk’s wealth was success or “hoarding.” He also added that the government must “make trillionaires disappear.”
Bernie Sanders criticizes Elon Musk
The criticism follows Sen. Bernie Sanders (I-VT) recently criticized Musk and called for taxes on the billionaire. He said Musk’s pay package was worth more than the combined compensation for elementary school teachers, farm workers, bartenders, cashiers and restaurant chefs in the country.
He also questioned the advent of AI, adding that governments must ensure that billionaires like Musk do not benefit from the technology being used to undermine democracy.
Sanders isn’t the only Democratic leader who has criticized the pay package, as Rep. Teresa Leger Fernandez (D-NM) blasted Tesla’s CEO, saying every school teacher had “more work ethic in his little finger” than Musk.
Michael Burry calls Tesla overvalued
‘The Big Short’ Investor Michael Burry raised questions about Tesla’s market cap figures, recently calling the EV giant “ridiculously overvalued.” It’s worth noting that Tesla is worth more than the combined market cap of all its competitors.
Tesla scores well on Momentum, while offering satisfactory quality and growth, but poor value. It also has favorable price developments in the short, medium and long term. For more such insights, subscribe to Benzinga Edge Stock Rankings Today!
Price promotion: TSLA rose 0.11% to $455.00 at market close on Friday, but fell 0.07% to $454.66 during the after-hours session, according to Benzinga Pro facts.
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