Elon Musk may step down as CEO of Tesla if shareholders do not approve his compensation package worth $56 billion, which should keep him at the company and motivate him to achieve ambitious goals.
Compensation for Musk
Threat of resignation
Elon Musk, founder and CEO of Tesla, may leave the company if shareholders do not will support his unprecedented $56 billion compensation deal. Chairman Robin Denholm is pushing for approval of the giant package, saying it is necessary to keep Musk at the company and keep him motivated.
Investor Concerns
Some investors are concerned that Musk is losing interest in Tesla because of his numerous other projects such as SpaceX, Neuralink, X and xAI. They see a threat in his desire to increase his stake in the company to 25%, which will allow him to realize his ambitious plans for the development of artificial intelligence and autonomous cars.
Share sales and threats
Musk currently owns about 13% of Tesla after the share sale billions of dollars to finance the purchase of Twitter. He threatened to spin off Tesla's AI work into a separate company if his demands were not met.
Shareholder vote
Preliminary voting indicated that shareholders are likely to approve the compensation package. About 25% of shareholders have already voted, and more than 80% of them support Musk's proposal. The final vote will take place on June 13 after a Delaware court overturned the results of a preliminary vote due to "deep flaws" in the approval process.
Glossary
- Tesla is an American company specializing in the production of electric vehicles and energy storage systems.
- Elon Musk is the founder and CEO of Tesla, as well as SpaceX, Neuralink and other companies.
- SpaceX is an aerospace company founded by Elon Musk that develops rockets and spacecraft.
- Neuralink is a neurotechnology company founded by Elon Musk working on a brain-computer interface.
- X is a holding company founded by Elon Musk to manage his companies, including Twitter.
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Discussion of the topic – Elon Musk may leave Tesla if he does not receive $56 billion in compensation from shareholders
According to The Verge, Elon Musk may leave Tesla if shareholders do not approve a giant compensation package worth $56 billion. The chairman of the company's board of directors is urging shareholders to support the proposal to "motivate" Musk.
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Олександр
Interestingly, $56 billion is quite realistic compensation for a brilliant innovator like Musk. 😎 Although the amount is impressive, his contribution to the development of electric cars and space technologies fully justifies it.
Катерина
Indeed, Musk is a unique case in business. I would also approve of such a compensation package for his ambitious plans with electric cars and artificial intelligence. 💯 He made Tesla a cult brand and a driver of progress.
Вольфганг
I think $56 billion is too much even for Musk. 😳 In such a situation, shareholders can take a tough position, because huge money is involved.
Григорій
This is a ridiculous amount! 🤣 If I were a shareholder, I would never vote for such compensation. Musk has many projects, and it is not known whether he will be able to properly manage Tesla. It is better to invest this money in the development of the company.
Марія
I don't understand skeptics. 🤔 Musk is a person who changes the world for the better. Electric cars, space rockets, neural interfaces - all these are revolutionary developments that require incredible efforts. 56 billion for talent like Musk's - fully justified!
Франческо
In my opinion, the issue is not only about money. The main thing is to motivate Musk to continue to manage Tesla and develop the company's ambitious plans. 💰 After all, without it, projects can collapse or slow down.
Григорій
These trends with electric cars and AI will change quickly, but the compensation paid to Musk will never pay off. 🥱 For me, money is more important than empty promises!
Анна
I cannot disagree with the fact that $56 billion is a colossal amount! 😨 However, if you look at Musk's achievements, it looks completely justified. His projects are truly changing our future for the better.