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Elon Musk's continuing struggle to be overpaid [1]

['Jason Weisberger']

Date: 2024-06-03  

While outside advisors think Elon Musk's $55 billion pay package is ridiculous, the celebrated horsetrader and his pet board of directors are pulling out all the stops.

Offering tours of factories to shareholders who have placed their votes, running advertisements, and otherwise Xitting out a storm of messages looking to earn votes towards a statement about overpaying Elon are all being done to ensure his pay package gets approval. Outside proxy advisors, all say no.

Tesla on Monday defended a proposal to ratify CEO Elon Musk's $56 billion pay package and said a new compensation would be costlier, days after a top proxy advisory firm recommended shareholders to vote against the proposal. The electric-vehicle maker argued that his pay package – one of the biggest in corporate America – motivated Musk to create "tremendous value" for shareholders. This was in response to Institutional Shareholder Services (ISS) last week calling the pay "excessive", while raising concern over Tesla offering its shareholders an "all or nothing" option ahead of a vote at their annual meeting on June 13. Yahoo

Musk, however, seems not just focused on his cash but some sort of revenge:

"They are oathbreakers," he wrote on X in response to a post mocking shareholders who have said they plan on voting against Musk's compensation. Verge

Previously:

• Tesla seems scared Musk's bloated pay package won't fly

• Musk merely wants $47 billion for the great job he is doing at Tesla

• Judge rejects Elon Musk's full self-dealing pay package

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[1] Url: https://boingboing.net/2024/06/03/elon-musks-continuing-struggle-to-be-overpaid.html

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