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Elon Musk could leave Tesla if $1 billion salary is rejected

Elon Musk could leave Tesla if $1 billion salary is rejected

If the CEO doesn't get $56 billion, he could lose interest, Tesla boss warns.

In fact it should be Elon Musk He should have already received his salary for the key position at Tesla. Although shareholders support the huge compensation package 56 billion dollars The judge approved the payment in January 2024. The approval process could have contained critical errors.

➤ Read more: Lawyers are demanding a record $6 billion fee from Tesla

A decision will be made again on June 13 on whether Musk will receive the money or not. Robin Denholm, Tesla's CEO, is now warning shareholders. If Musk doesn't get the $56 billion, he can move on to other companies.

Musk has little time, but lots of ideas

“The one thing Musk doesn't have is infinite time. He also has no shortage of new ideas and other places to implement them. We want those ideas and his energy to be at Tesla. And that's in your interests, shareholders. But it requires mutual respect,” says Denholm. .

She confirms that Musk is one of the richest people in the world and for this reason.”It's not about money“But he needs.”incentivize“To stay with Tesla. By doing so, it is trying to inflame shareholder concerns, which some already have. They are already accusing Musk of being less active at Tesla because of his other companies, such as SpaceX, The Boring Company, Neuralink, X, and xAI.”

➤ Read more: Elon Musk wants to improve X-Chatbot using his supercomputer

Highest salary for a CEO in history

So the “motivation” is that Musk gets his way. If you look at situations in the past, you know how irrational they are Fearless and bold Musk reacts when he encounters resistance from people he considers less important or less important than him.

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The second “motive” may relate to the amount of the payment. That would be $56 billion Highest compensationWhich is what any CEO in modern history would have gotten. Being the best, biggest, fastest, and richest satisfies Musk's ego.

Musk wants more control over Tesla

However, it currently looks like Musk will get the package. According to Reuters, about a quarter of shareholders have already voted. Of these, 80 percent were for payment.

However, the CEO's next drama is already looming. Musk had previously called on shareholders to do so Stake in Tesla to 25 percent has risen. He currently owns about 13 percent of the shares. If that doesn't happen, he wants to Artificial intelligence developments From Tesla, which aims to form the basis for full self-driving, to be spun off into its own company.