The Delaware court has revoked the massive bonus awarded to Elon Musk, worth approximately $56 billion. Despite facing criticism from some shareholders, Musk is confident that his vision for Tesla’s future will be approved by the majority of shareholders. He plans to move Tesla to Texas while still receiving the bonus.
The compensation package for Musk was initially valued at $2.3 billion over ten years and was based on performance criteria related to Tesla’s growth and market share. However, due to Tesla’s stock price rise, the package has grown substantially in value. If Musk exercises all his stock options, his stake in Tesla could increase significantly.
Despite some large shareholders and advisory firms opposing the bonus, many other shareholders support Musk’s ambitious plans for Tesla’s future, including AI and robotics projects. Musk’s vision for Tesla includes a shift towards autonomous vehicles and robo-taxis, setting the company apart from traditional car manufacturers. While Tesla faces challenges from competitors and market changes, Musk’s leadership and innovative ideas have garnered support from shareholders who believe in Tesla’s potential for growth and market dominance.
