Elon Musk could leave Tesla if his $56 billion compensation package isn't approved

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According to a media report, Tesla could beryllium connected the verge of losing its CEO, Elon Musk, if the institution shareholders don't o.k. his monolithic $56 cardinal wage package.

The determination is said to instrumentality spot connected June 13th, erstwhile Tesla's shareholders volition determine the destiny of Musk's compensation, estimated to beryllium worthy $56 billion. Ahead of the meeting, Tesla Board Chair Robyn Denholm is calling connected the company's shareholders to o.k. Musk's wage bundle and not hazard driving the CEO away.

Denholm stated, "Elon is not a emblematic executive, and Tesla is not a emblematic company." He further added, "So, the emblematic mode successful which companies compensate cardinal executives is not going to thrust results for Tesla. Motivating idiosyncratic similar Elon requires thing different."

The Tesla Board Chair went connected to state, "What we recognized successful 2018 and proceed to admit contiguous is that 1 happening Elon astir surely does not person is unlimited time. Nor does helium look immoderate shortage of ideas and different places helium tin marque an unthinkable quality successful the world. We privation those ideas, that vigor and that clip to beryllium astatine Tesla, for the payment of you, our owners. But that requires reciprocal respect."

Reports authorities that if the shareholders o.k. Musk's $56 cardinal package, it would marque him the astir highly compensated main enforcement successful modern history.

However, Denholm, implying that the ample wage bundle would beryllium a "motivation" for Elon to stay, speaks to the fearfulness of immoderate investors. Reports besides suggest that with Musk present moving antithetic projects, including SpaceX, The Boring Company, Neuralink, X and xAI - it has taken distant his attraction from Tesla.

Source: TheVerge

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