Categories Tech News
Tesla CEO Elon Musk could leave if $56 billion pay package not approved, shareholders warned
June 7, 2024
Illustration by Cath Virginia / The Verge | Photo by Grzegorz Wajda, Getty Images
Tesla board chair Robyn Denholm is calling on the company’s shareholders to approve Elon Musk’s massive $56 billion pay package or risk driving the billionaire CEO to greener pastures.
On June 13th, Tesla shareholders will decide the fate of Musk’s compensation package, which is estimated to be worth as much as $56 billion. It will be the second time that shareholders will vote on the CEO’s pay, after a Delaware judge voided the first one earlier this year on the grounds that the approval process was “deeply flawed.” And now the company is engaged in a full-court press to convince shareholders to approve the proposal a second time.
“Elon is not a typical executive, and Tesla is not a typical company,” Denholm writes in a letter to…