Over the years, an unusual compensation package that rewarded Musk with large chunks of Tesla stock for hitting certain performance benchmarks made him the richest person on the planet. Tesla’s meteoric rise eas earned Muska net worth of more than $200 billion, according to the Bloomberg Billi...
The pay package was originally approved in 2018, consisting of 12 tranches of stock options tied to 12 targets for Tesla’s growth, each of which has been hit. As Musk’s compensation is tied to stock, its value has fluctuated with the price of the company’s shares. In 2021, it was ...
Ms McCormick specifically cited Mr Musk's long business and personal relationships with compensation committee chairman Ira Ehrenpreis and fellow committee member Antonio Gracias. She also noted that the working group negotiating the pay package included general counsel Todd Maron who was Mr Musk's for...
Musk's compensation package, which is believed to be the largest of any CEO of a publicly traded company in the U.S., was voided by a Delaware judge after finding that Tesla's board didn't adequately disclose its members' relationships to Musk and that the company was on pace to achieve...
In a proxy filing out Wednesday,Tesla asked shareholdersto approve a CEO pay package for Musk that’s equivalent to the record compensation plan the company previously granted him in 2018. His earlier CEO pay plan, worth $56 billion, was voided in a ruling by Delaware Chancery Court Judge ...
“Colonizing Mars is an expensive endeavor. Musk believes he has a moral obligation to direct his wealth toward that goal, and Musk views his compensation from Tesla as a means of bankrolling that mission. Musk sees working at Tesla as worthy of his time only if that work generates ‘additi...
By 2022, some Tesla shareholders sued Musk, claiming he spent most of his time on other ventures like SpaceX and manipulated the board to secure a long-term compensation plan. In the ruling earlier this year, Judge Kathaleen McCormick declared the $56 billion pay package "unfair" and criticiz...
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 thesecond timethat shareholders will vote on the CEO’s pay, aftera Delaware judge voided the first oneearlier this year on the ...
— Elon Musk (@elonmusk)June 13, 2024 Official vote results haven't been released but Tesla's annual shareholder meeting is slated for Thursday afternoon. Tesla has campaigned to persuade shareholders to approve Musk's giant compensation package. ...
File - Tesla CEO Elon Musk waves as he arrives at the annual political festival Atreju, organized by the Giorgia Meloni’s Brothers of Italy political party, in Rome, Dec. 16, 2023. A judge says Elon Musk must give up a compensation package awarded by Tesla’s board of directors t...