Tesla CEO Elon Musk's $56 Billion Pay Package
Glass Lewis urges Tesla shareholders to reject a $56 billion pay package for Elon Musk, citing excessive size, dilutive effect, and time-consuming projects. The package has no salary or cash bonus and sets rewards based on Tesla's market value rising to as much as $650 billion over 10 years.
Key Points
- Glass Lewis recommends rejecting the pay package
- The pay package is based on Tesla's market value reaching $650 billion over 10 years
- Judge voided the original pay package in January
Pros
- Tesla's board of directors believes Musk deserves the pay package due to hitting ambitious revenue and stock price targets.
Cons
- Glass Lewis criticizes the pay package for its excessive size, dilutive effect, and Musk's time-consuming projects.