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Dogecoin Founder Praises Elon Musk's Massive Latest X Milestone

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Thu, 13/06/2024 - 8:13
Dogecoin Founder Praises Elon Musk's Massive Latest X Milestone
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Elon Musk, technical serial entrepreneur and owner of the social media giant X, has published an important post regarding announcements made earlier this week. He spread the word that all likes under posts have turned private and invisible for anyone apart from account owners.

Musk boasts massive new X milestone

The centibillionaire tweeted that after the likes were made private, there has been a “massive increase in likes.”

Multiple cryptocurrency-themed accounts posted positive comments under that post. Dogecoin cofounder Billy Markus (known as Shibetoshi Nakamoto on Twitter/X) also shared his reaction in the comments; he published a screenshot from a video game that says “Everyone liked that.”

Meanwhile, all the reactions to Elon Musk’s post remain visible, and it has collected 265,000 likes by now.

Billy Markus says Musk must get $56 billion from Tesla

As reported by U.Today earlier, Markus, together with several major figures in the world of finance, including renowned investor and Ark Invest CEO Cathie Wood, publicly supported Musk in his current concerns related to the Tesla compensation package agreed on for the tech mogul in 2018 by the company’s shareholders. The company should pay out $56 billion of compensation to Musk should he succeed in taking Tesla’s market value above the $650 billion level within ten years (from 2018). The pay package constitutes less than 10% from the targeted market capitalization for Tesla.

Currently, Tesla boasts a valuation of $571.6 billion, which is pretty close to the set target. However, many large shareholders and also a Delaware judge voided Tesla’s decision to make that payment to Musk real unless shareholders vote otherwise. Tesla has now urged its shareholders to vote once again and solve this issue in favor of their current CEO, Elon Musk.

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This voting is yet to be held and the issue remained unsolved so far. The DOGE co-founder hinted in his tweet that the sudden U-turn on their agreed decision to pay Musk, who has been working with no salary all these years for Tesla, is likely to damage their business reputation in the future.

Many on X, however, believe that $56 billion is too a large sum to be paid out to Musk, who is already the wealthiest person on the planet.

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