He needs that compensation because he's easily dist- oo a piece of candy!
With a week to go until Tesla's Annual Stockholders' Meeting, board chair Robyn Denholm has written to investors to make sure they ratify CEO Elon Musk's monster pay package – apparently out of fear he could walk.widely seen as a publicity stunt because it verged on ridiculous, Musk would earn nothing from his work unless Tesla's market cap grew to $650 billion from $53 billion. However unlikely, that sum peaked in November 2021 at $1.24 trillion, though it stands at $557.
"Fairness and respect require that we honor the collective commitment we made to Elon – a commitment that was, and fundamentally still is, about retaining Elon's attention and motivating him to focus on achieving astonishing growth for our company," Denholm wrote.
As for domiciling in Texas, Denholm argued that"marrying our legal home to our operational home" provides shareholders"with substantially equivalent governance rights as Delaware, and is expected to provide more certainty for the innovative, big-ticket decisions that Tesla is known for," and definitely has nothing to do with the fact that the Delaware court struck down Musk's compensation.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Elon Musk confirms 12K H100s ordered for Tesla were instead prioritized for xAITycoon's private firms got Nvidia GPUs first because automaker couldn’t use them yet
Read more »
Elon Musk: Tesla shareholders urged to stop chief executive's 'excessive' £56bn paydayThe compensation package, if approved, would be the biggest ever for a chief executive in the US.
Read more »
Massive crashes, broken wheels & stranded in mud…Elon Musk’s ‘indestructible’ Tesla Cybertruck’s troubled f...Tesla cyber truck gets stuck at Azula canyon
Read more »
Trump may give Elon Musk a White House role – and plunge America into chaosSome doubt whether there would be sufficient space in the White House for two planetary-sized – but notoriously fragile – egos
Read more »
WhatsApp boss in online spat with Elon Musk over message securityThe messaging app's boss has taken to social media to deny Mr Musk's claim it 'exports user data.'
Read more »
Elon Musk's xAI scores $6B in its series B funding roundInvestors continue to buy into the AI hype
Read more »