New York – 56 billion are needed to keep Elon from losing his enthusiasm. The president of the Tesla board has issued a warning to shareholders: if they do not give the okay to the maxi pay award of 56 billion dollars intended for Elon Musk, the largest shareholder of the electric vehicle company could disengage and take his ideas somewhere else. other part. On June 13, shareholders will have to make an inside or outside decision. It will be the second time in a few months. The first green light was blocked by a Delaware judge who annulled the payment of the premium, justifying the decision with the fact that it had been improperly approved by the board of directors. Furthermore, the 56 billion would have ended up impoverishing the company’s shareholders.
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Musk was furious. The majority shareholder went to press the board which he asked to shore up his participation, in order to obtain greater control of investments in artificial intelligence, the real technological challenge. That’s why he wants a mountain of dollars as an incentive. Otherwise, explained board chairwoman Robin Denholm, Musk will take his AI projects outside of Tesla.
“Elon – wrote the manager in a letter sent to shareholders – is not the classic manager, just as Tesla is not the classic company”. “The typical way – she added – in which we reward executives will not work for us. Motivating someone like Elon requires something different.” Denholm raised the possibility that Musk could “set up camp elsewhere” in the future. “Elon – he recalled – can make a difference in the world, we want those ideas, the energy and the time he puts into Tesla to benefit you, our owners. But this requires mutual respect.”
The case
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edited by the Motori editorial team
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The vote to approve the 56 billion salary would make Musk the highest paid CEO in modern history and would further solidify his first place in the Forbes ranking of the richest men on the planet. To date, his personal assets amount to 210 billion dollars, 38 less than a recent valuation. “It’s not a question of money – explained the president of the board – Elon is one of the richest people on the planet and will remain so even if Tesla does not respect the commitment we made in 2018”. Musk, in reality, has to make up for lost ground with the flop of the purchase of Twitter, which has now become X. What makes him a controversial figure is his involvement in many projects, from the aerospace company SpaceX to Neuralink, the pioneering neurotechnology company. Some companies linked to Tesla have advised shareholders against approving the bonus package, but the first indications seem to go in the opposite direction: investors do not want to deprive themselves of Musk. According to Reuters, citing the trading platform eToro, 25 percent of shareholders voted in advance. And 80 percent voted in favor of Musk.
