I think it's the equivalent of them being forced to pay his salary for x many years, and since he was previously a CEO of his own company before they got bought, its huge money. Supposedly he was one of the people on a "DO NOT FIRE" list because of how huge the contract was.
I find it a little hard to feel bad for millionaires, but mocking disabilities is shitty no matter how you look at it, and this guy was apparently one of the less shitty ones. He made minor headlines for taking the deal in cash rather than stock options, because not tax dodging is notable for rich people I guess
It was so he could pay it in Iceland instead at a 46% tax rate, as thanks to his home country for the free education he got. He's also got a project devoted to installing 1500 accessibility ramps all over Iceland.
As people to pick fights with go, Elon could not have picked a worse target. This guy's like a national hero over there.
Unrelated, but its very weird to me that the US is one of the most handicap accessible countries in the world. Having briefly visited the UK once, it's very surprising how few ramps, automatic doors, etc there are. You'd think it be a higher priority given that its really not that hard to do and makes a big difference for a significant portion of the population.
Here in Stockholm at least they are trying to gut every accomodation possible, cutting travel services to blind people and telling them to just memorize train routes, while also removing audio announcements from train platforms for being a nuisance.
And now they're also removing train attendants so if anyone in a wheelchair or other mobility aid needs help getting on the train, the actual driver has to run out and do it before running back to drive the train.
He owned a company that was bought by Twitter and instead of getting the payout in the form of shares or other benefits, he chose it as a salary so that he'd have to pay more taxes on it in Iceland -- at least, that's the reason he gave.
This means they had to hire him as an employee and essentially pay him what they bought his company for over X years. If they fire him before that time, they owe him (I imagine) the lump sum that remains.
And yes the fact that his wage was taxed 46% whereas accepting shares or a lump sum would have been taxed at 22% is not lost on me.
What the fuck. How do you manage to land a $100 million early termination clause
I think it's the equivalent of them being forced to pay his salary for x many years, and since he was previously a CEO of his own company before they got bought, its huge money. Supposedly he was one of the people on a "DO NOT FIRE" list because of how huge the contract was.
I find it a little hard to feel bad for millionaires, but mocking disabilities is shitty no matter how you look at it, and this guy was apparently one of the less shitty ones. He made minor headlines for taking the deal in cash rather than stock options, because not tax dodging is notable for rich people I guess
It was so he could pay it in Iceland instead at a 46% tax rate, as thanks to his home country for the free education he got. He's also got a project devoted to installing 1500 accessibility ramps all over Iceland.
As people to pick fights with go, Elon could not have picked a worse target. This guy's like a national hero over there.
Unrelated, but its very weird to me that the US is one of the most handicap accessible countries in the world. Having briefly visited the UK once, it's very surprising how few ramps, automatic doors, etc there are. You'd think it be a higher priority given that its really not that hard to do and makes a big difference for a significant portion of the population.
There was a really big push for the ADA back when Americans actually had some influence in American politics
ADA and national park system are a couple of the rare American Ws
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Here in Stockholm at least they are trying to gut every accomodation possible, cutting travel services to blind people and telling them to just memorize train routes, while also removing audio announcements from train platforms for being a nuisance.
And now they're also removing train attendants so if anyone in a wheelchair or other mobility aid needs help getting on the train, the actual driver has to run out and do it before running back to drive the train.
He owned a company that was bought by Twitter and instead of getting the payout in the form of shares or other benefits, he chose it as a salary so that he'd have to pay more taxes on it in Iceland -- at least, that's the reason he gave.
This means they had to hire him as an employee and essentially pay him what they bought his company for over X years. If they fire him before that time, they owe him (I imagine) the lump sum that remains.
And yes the fact that his wage was taxed 46% whereas accepting shares or a lump sum would have been taxed at 22% is not lost on me.
The person who gavw that number on Twitter said they made it up.