On October 21st, according to foreign media reports, Elon Musk publicly threatened to leave Tesla or at least resign as CEO if he did not receive a high salary. Tesla shareholders are about to vote on Elon Musk's controversial new compensation plan. Although many people are concerned about the absurd scale of stock options (which could be worth up to $1 trillion), many analysts have also emphasized other issues with the plan.
Last week, it was reported that if the company's business continues as usual and its market value growth is lower than the S&P average, Musk may still receive one or even two compensation packages worth between $20 billion and $40 billion. In short, according to the provisions of the plan, Musk may receive the highest compensation in history for returns below average.
In addition, the compensation received by Tesla's CEO has exceeded the company's profits since its establishment. A commentator on X pointed out people's concerns about the first payment of the compensation plan. Musk not only did not respond to genuine concerns, but also boasted about Tesla's market value and hinted that if he couldn't get the money, he wouldn't be able to become Tesla's CEO. Subsequently, the CEO shared a post encouraging Tesla shareholders to vote in support of the upcoming shareholder meeting on November 6th.
