Elon Musk has the potential to earn a higher salary at Tesla compared to other corporate leaders.
The value of Elon Musk to Tesla, the company he leads, is truly remarkable. In 2018, the board of directors devised a plan to grant Mr. Musk shares worth $46 billion over a decade, contingent upon the company meeting certain benchmarks. However, a Delaware judge invalidated the package earlier this year, deeming it “unbelievable” following a lawsuit from a shareholder. As the company prepares for its annual general meeting on June 13th, they are seeking reaffirmation of investor support for the award. Elon Musk’s extraordinary compensation package is nearly 300 times greater than that of Hock Tan, the highest-paid CEO in America at Broadcom, a chip manufacturer. This amount also represents 8% of Tesla’s current market value, which has declined by approximately 20% in the last year.■
2024-06-06 07:57:36
Link from www.economist.com
