Is Tesla CEO Worth 55 Billion Dollars?

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Is Elon Musk really worth $55.8 billion?

Tesla shareholders will get to vote YES or NO.

Here’s a quick background on the situation…

In 2018 Tesla shareholders approved a new compensation plan for Elon Musk.

He would “work for free” without a salary.

Instead, he would receive stock options that could be valued at $55.8 billion.

Yet he would only receive all of the stock options if Tesla’s market value grew by over 1,000% to $650 billion.

73% of Tesla shareholders approved the deal.

Elon delivered and increased Tesla’s market value above $650 billion. And he was scheduled to receive the stock options.

That was until a Delaware judge voided the pay package.

That’s forcing Tesla to ask shareholders to vote on the following items at the annual meeting.

  1. Move the company’s incorporation to Texas.

  2. Reelect Kimbal Musk (Elon’s brother) and James Murdoch (Rupert’s son) to the board.

  3. Reapprove Elon’s 2018 compensation plan.

Four of Tesla’s top 10 institutional shareholders support the reapproval of the compensation plan.

Additionally, 6,000 shareholders owning 23 million shares of Tesla wrote letters in support of Elon’s compensation.

I’m expecting the shareholders will approve the compensation plan.

Failure to do so would be a huge negative for Tesla.

Shareholders must approve the previous compensation that was legally approved in 2018. This will help assure that Elon remains 100% committed and engaged with Tesla.

Tesla’s new AI initiative paves the way for Robotaxi’s later this year.

That’s why it’s critical that Elon is focused on Tesla’s next major breakthrough.

Ian

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