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Elon Musk May Leave Tesla If $56 Billion Pay Package is Rejected

Billionaire Elon Musk may leave Tesla if shareholders reject his fifty-six billion dollar pay package, according to board chair Robyn Denholm. Shareholders will decide on Musk's compensation on June 13, after an earlier court ruling invalidated the approval process. Denholm stressed the importance of the package to keep Musk focused on Tesla, amidst concerns about his commitments to other ventures.
Billionaire Elon Musk may leave Tesla if shareholders reject his $56 billion pay package, according to the company's board chair Robyn Denholm.

The shareholders of the electric car maker will decide on Musk's compensation package on June 13.

This follows an earlier Delaware court ruling invalidating the approval process.

Denholm emphasized that Musk's unique role requires the substantial compensation package to keep him focused on Tesla.

She noted that Musk's other ventures, including SpaceX and xAI, have raised concerns among investors about his commitment to Tesla.

Denholm urged shareholders to approve the pay package, adding that Musk's influence is vital for achieving Tesla's goals.

Musk is also looking to acquire a 25% interest in Tesla and has hinted at splitting Tesla's AI research into a separate company if his demands are not met.

Additionally, the board chair urged shareholders to move the company's base to Texas from Delaware.
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