P.M. Edition for June 2. Taser’s boss topped the highest-paid CEOs list this year, while Elon Musk came in last at $0. But as Musk rejoins the business world after his stint in Washington, WSJ’s Theo Francis discusses how Tesla’s board could figure out how much to pay the world's richest man. Plus, the suspect in the Colorado flamethrower attack has been charged with a federal hate crime. And the Trump Organization, the family’s flagship real-estate firm, has expanded globally since the 2024 election. WSJ reporter Brenna Smith describes those projects and what they involve. Alex Ossola hosts. Sign up for the WSJ's free What's News newsletter. Learn more about your ad choices. Visit megaphone.fm/adchoices
Chapter 1: What is the status of Elon Musk's pay at Tesla?
This concept of these moonshot packages really took off after Tesla gave Musk that one. Because other CEOs said, oh, that's kind of cool. That gives you this sort of startup approach at a more established company. So this kind of had a snowball effect where you saw a lot more of these moonshot packages after Elon Musk got his.
And how the Trump Organization has expanded globally since the 2024 election. It's Monday, June 2nd. I'm Alex Osola for The Wall Street Journal. This is the PM edition of What's News, the top headlines and business stories that move the world today.
The man accused of using a flamethrower in an attack on a group in Boulder, Colorado, supporting hostages being held by Hamas, has been charged with a federal hate crime. The Department of Homeland Security said the suspect, Mohammed Sabri Salomon, was in the U.S. on an expired visa and had filed for asylum in September 2022.
Salomon said he had planned the attack for a year and was waiting until after his daughter graduated to strike. The police said that all eight victims of the attack are alive and remain in the hospital.
President Trump expressed condolences for the victims on Truth Social, saying the incident, "...is yet another example of why we must keep our borders secure and deport illegal, anti-American radicals from our homeland." US-Manufacturing Activity sank a little deeper into contraction in May, reflecting persistent worries over the impact of the Trump administration's whipsawing trade policy.
The Institute for Supply Management said today that its Purchasing Managers Index of Manufacturing Activity fell to 48.5 in May from 48.7 in April, matching economists' predictions. That brought the index to its lowest level since November, as activity fell further below the 50 mark that divides growth and contraction. U.S.
stocks rebounded from early losses to end higher, despite a new trade flare-up between the U.S. and China that we mentioned in this morning's show. The Nasdaq led the gains, rising about 0.7%. The S&P 500 rose about 0.4%, and the Dow was up roughly 0.1%. Even after the latest bout of tariff turmoil, stocks have mostly recovered their April losses.
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Chapter 2: How do CEO pay packages compare in 2024?
Chapter 3: What led to the rise of moonshot packages for CEOs?
And how the Trump Organization has expanded globally since the 2024 election. It's Monday, June 2nd. I'm Alex Osola for The Wall Street Journal. This is the PM edition of What's News, the top headlines and business stories that move the world today.
The man accused of using a flamethrower in an attack on a group in Boulder, Colorado, supporting hostages being held by Hamas, has been charged with a federal hate crime. The Department of Homeland Security said the suspect, Mohammed Sabri Salomon, was in the U.S. on an expired visa and had filed for asylum in September 2022.
Salomon said he had planned the attack for a year and was waiting until after his daughter graduated to strike. The police said that all eight victims of the attack are alive and remain in the hospital.
President Trump expressed condolences for the victims on Truth Social, saying the incident, "...is yet another example of why we must keep our borders secure and deport illegal, anti-American radicals from our homeland." US-Manufacturing Activity sank a little deeper into contraction in May, reflecting persistent worries over the impact of the Trump administration's whipsawing trade policy.
Chapter 4: What happened in the Colorado flamethrower attack case?
Chapter 5: How has the Trump Organization expanded globally?
Salomon said he had planned the attack for a year and was waiting until after his daughter graduated to strike. The police said that all eight victims of the attack are alive and remain in the hospital.
President Trump expressed condolences for the victims on Truth Social, saying the incident, "...is yet another example of why we must keep our borders secure and deport illegal, anti-American radicals from our homeland." US-Manufacturing Activity sank a little deeper into contraction in May, reflecting persistent worries over the impact of the Trump administration's whipsawing trade policy.
The Institute for Supply Management said today that its Purchasing Managers Index of Manufacturing Activity fell to 48.5 in May from 48.7 in April, matching economists' predictions. That brought the index to its lowest level since November, as activity fell further below the 50 mark that divides growth and contraction. U.S.
stocks rebounded from early losses to end higher, despite a new trade flare-up between the U.S. and China that we mentioned in this morning's show. The Nasdaq led the gains, rising about 0.7%. The S&P 500 rose about 0.4%, and the Dow was up roughly 0.1%. Even after the latest bout of tariff turmoil, stocks have mostly recovered their April losses.
So you might be wondering, do I have too much money in one investment? Is it a bad idea to have 85% of my portfolio in Nvidia? Should I own some other stocks besides Apple? Jason Zweig writes the Intelligent Investor column for the Wall Street Journal and says that for something like 99.95% of people, the answer is yes, you do have too much money in that one hot stock.
He told our Your Money Briefing podcast that, chances are, no matter your estimation of your own skills in picking stocks, you're no Warren Buffett.
One of the points that I made in this column is that there are two types of people who should concentrate their stock picks. And the first type is people like Warren Buffett or Charlie Munger, who have just extraordinary skills at picking stocks.
The second type is what you might call a control person, a CEO or another extremely senior executive at a publicly traded company where your decisions have influence over the outcome of the company's future. In either of those cases, it makes a lot of sense to concentrate your portfolio. But wow, is that a small number of people.
For more from Jason, check out tomorrow's episode of Your Money Briefing. Coming up, how should Tesla pay the world's richest man? That's after the break.
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Chapter 6: What are the implications of stock concentration in investing?
Chapter 7: Why is Elon Musk considered the lowest-paid CEO?
Wer ist der höchste bezahlte CEO in der S&P 500? Vielleicht jemand in der Finanzierung oder ein Silicon Valley-Juggernaut. In Wahrheit ist es Rick Smith, der Chef von Axon Enterprise, der Produktionenfirma, die Tasers produziert. Er hat in 2024 ca. 165 Millionen Dollar gespeichert. Währenddessen war Tesla-Chef Elon Musk der niedrigste bezahlte CEO einer S&P 500-Familie letztes Jahr.
Er hat 0 Dollar gekostet, als sein letzter Pay-Package der Fall war. Für mehr, bin ich mit Teo Francis, der die Exekutive-Kompensation für den Journal besucht. Okay, Teo, wie haben die Exekutive dieses Jahr breit gesagt?
Es ist ein interessantes Jahr. Allgemein ist der Preis für CEOs von S&P 500-Familien hoch. The difference this year is that a lot of these super high value pay packages, nine figures and $100 million and more, this year you only saw one of those. But there were enough other CEOs who were getting $50 million and up, but not quite $100 million to bring the overall median up.
Most of these giant pay packages, they're mostly stock. Increasingly these days, they have different conditions on them. So Elon Musk's multi-billion dollar pay package from six years ago has a bunch of different conditions on it. What those triggers tend to do is they increase the number of shares or options that the executive ultimately gets.
Chapter 8: What conditions are attached to executive pay packages?
You mentioned Elon Musk. So he's back in the business world, fresh off his detour through US politics. So now Tesla's board is faced with this question. How do you pay the world's richest man? Now, the company didn't respond to requests for comment, but what are some of the options they might be considering, especially after his 2018 pay package was thrown out by a court twice?
This concept of these moonshot packages really took off after Tesla gave Musk that one. One of the big questions that always comes up with big pay packages is why. And companies say, look, you need to attract the best talent, you need to keep the best talent, and you need to give them an incentive to make the company do well. So some companies
Big name CEOs like Warren Buffett own so much of the company that if the company does well, they do well. Elon Musk arguably has that as well, but he's made it very clear that he wants more stock. He wants a bigger stake in the company. So the company needs to take that into account. They also need to take into account the fact that he hasn't been around a lot.
Eine der Dinge, die Elon Musk wahrscheinlich beantworten wird, ist, Tesla zu konzentrieren. Das ist das, was Tesla-Anbieter wollen. Das ist das, was Tesla's Board wahrscheinlich ihn fragen sollte. Die Arbeit des Boards ist es, den CEO zu bezahlen, um die Firma zu organisieren. Sie könnten einen anderen CEO ausbauen, wenn er es nicht will, für das, was sie bereit sind, zu bezahlen.
Das war WSJ-Spezialredakteur Teo Francis. Danke, Teo.
Großartig, danke.
Und als Musk seine Zeit im Staat endet und seine Aufmerksamkeit an seine Firmen, insbesondere Tesla, zurückbringt, ist es nicht nur das Board, das für Ergebnisse suchen wird. WSJ-Reporter Becky Peterson hat uns in unserem Tech-News-Briefing-Podcast erzählt, dass Investoren und Mitarbeiter alike einen Auge auf Musks Erfolg halten werden.
Tesla's Investors have already priced in all of the success. So I'm also wondering how patient they'll be. But they've already been waiting a really long time. The difference between now and in the past when he said, Robotaxis are around the corner or Mars is around the corner. At both Tesla and SpaceX, he really has bet the company. Tesla doesn't have a new car yet.
in its lineup for customers to get excited about over the next few years. There's only the CyberCab, which doesn't have a steering wheel or pedals. So that's a very big commitment to this vision that he has. And at SpaceX, we know that they are moving people off of Dragon, which is the spaceship that currently takes astronauts to the space station.
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