Key Tesla shareholder Ron Baron issued an open letter calling on other investors to back Elon Musk's record $56 billion pay package.
Elon Musk gesture upon his arrival at a public health center at Denpasar, Bali, Indonesia, on Sunday, May 19, 2024. Elon Musk arrived in Indonesia’s resort island of Bali to launch Starlink satellite internet service in the world’s largest archipelago …Key Tesla shareholder Ron Baron issued an open letter calling on other investors to back Elon Musk’s record $56 billion pay package.
“Without his relentless drive and uncompromising standards, there would be no Tesla,” Mr. Baron wrote. “Especially considering how he slept on the floor of Tesla’s Fremont factory when the company was going through what he called ‘production hell!’” Indeed, in the years since the package was approved, Tesla has rolled out blockbuster technology that has captured the attention of consumers and made it the most important electric vehicle company in the U.S.
Still, his support doesn’t guarantee a successful result for Mr. Musk, who has urged shareholders to approve the pay package ahead of the June 13 shareholder meeting. Several prominent shareholder proxies have come out against the package, claiming the $56 deal is excessive.
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