OUTSIDE of technology and innovation, Elon Musk is known to frequently say and do questionable things that shatter the illusion people once had of him being a “real life Tony Stark”, but there is no denying that as a businessman and investor, he is a genuine heavyweight.
As the man behind Tesla, Neuralink and SpaceX, Musk’s face alone brings in investments into future tech. That is why a Tesla board chair member had called on the company’s shareholders to approve Musk’s massive pay package.
“(Musk) is not a typical executive, and Tesla is not a typical company,” Denholm wrote in a letter to shareholders.
Tesla shareholders voted last week to restore CEO Musk’s record US$44.9 billion (RM211 billion) pay package that was thrown out by a Delaware judge earlier this year, sending a strong vote of confidence in his leadership of the world’s largest electric vehicle maker.
As reported by AP, the favourable vote does not necessarily mean that Musk will get the all-stock compensation anytime soon.
The package is likely to remain tied up in the Delaware Chancery Court and Supreme Court for months as Tesla tries to overturn the Delaware judge’s rejection.
In a letter to shareholders, Denholm insinuated that Musk could leave without proper motivation, as the billionaire does not have unlimited time to invest his endless ideas in “other places”.
According to her, Tesla wants his ideas, energy and time at the automotive company for the shareholders to benefit.
Her words clearly implied that Musk’s various companies and projects are increasingly taking his time away from Tesla, and the only way he will stay is by the shareholders continuing to buy into the viability of Musk’s personality via the pay package.
With the passing of the vote, Musk is set to become the most highly compensated chief executive in modern history. Whether this will help improve Tesla sales remains to be seen.
