Leaders say it’s lonely at the top. But is it all that bad if you have billions of dollars and a hefty tranche of shares in your company?
This Thursday, Tesla shareholders will vote on Elon Musk’s proposed $56 billion pay package—the highest-ever executive compensation package in history. In January, a judge rescinded his compensation over governance concerns, and so the Tesla board has asked shareholders to ratify it a second time.
If Musk’s pay package doesn’t get approved, there’s a chance he may step away from the EV mammoth. Indeed, Robyn Denholm, Tesla board chair, wrote in a letter to shareholders that Musk could spend his time working at “other places” if his pay package isn’t approved. Musk currently holds leadership roles in at least five other companies including SpaceX, X, xAI, Neuralink, and the Boring Co.
“One thing Elon most certainly does not have is unlimited time,” Denholm wrote. “Nor does he face any shortage of ideas and other places [where] he can make an incredible difference in the world. We want those ideas, that energy, and that time to be at Tesla, for the benefit of you, our owners. But that requires reciprocal respect.”
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