Tesla may not give Elon Musk his $56 billion pay. He says, ‘did not ask for it…’ - Hindustan Times
close_game
close_game

Tesla may not give Elon Musk his $56 billion pay. He says, ‘did not ask for it…’

By | Edited by Mallika Soni
May 21, 2024 09:08 AM IST

This comes as Tesla shareholders are set to vote on relocating to Texas and Elon Musk's $56-billion pay deal.

Elon Musk reacted to a video put up by his company Tesla in which the firm urged shareholders to vote. In the video, Tesla noted that it had put forth two important proposals for the 'Annual Meeting of Stockholders' which require the votes of the shareholders. The post read, “Protect your rights as stockholders & protect the value of your investment by voting FOR the ratification of the 2018 CEO Performance Award & FOR Reincorporating Tesla in Texas.”

Tech billionaire Elon Musk arrives at Ngurah Rai International airport in Denpasar on Indonesia's Bali island.(AFP)
Tech billionaire Elon Musk arrives at Ngurah Rai International airport in Denpasar on Indonesia's Bali island.(AFP)

Read more: Elon Musk claims X is better than Instagram on online child safety, slams Meta platform: ‘We care and do more’

In the video, it is written, “Tesla stockholders, YOU have the ability to enhance the future of the company. For the past six years, under Elon Musk’s leadership, you’ve seen the value of your investment increase ~1,100 percent. The present and future value creation that Tesla is poised to deliver for all of you is at risk. We need your vote. Protect Tesla.”

Now catch your favourite game on Crickit. Anytime Anywhere. Find out how

Read more: Elon Musk reacts to Saudi prince’s photo with Cybertruck, Tesla CEO’s reply goes viral

Responding to the post, Elon Musk wrote on X (formerly Twitter),"The Tesla team put this together of their own volition (I did not ask for it). Thanks"

This comes as Tesla shareholders are set to vote on relocating to Texas and Elon Musk's $56-billion pay deal, the Financial Times reported.

Read more: Elon Musk's Neuralink to embed wires deeper in brain after problems in first patient?

Tesla's board has repeatedly come under fire for its close ties with the Elon Musk. Board Chairperson Robyn Denholm wrote in a letter earlier, “Elon has not been paid for any of his work for Tesla for the past six years. That strikes us — and the many stockholders from whom we already have heard — as fundamentally unfair.”

Elevate your career with VIT’s MBA programme that has been designed by its acclaimed faculty & stands out as a beacon for working professionals. Explore now!

See more

Get latest updates on Petrol Price along with Gold Rate , Today Weather and Budget 2024 at Hindustan Times.

SHARE THIS ARTICLE ON
Share this article
SHARE
Story Saved
Live Score
OPEN APP
Saved Articles
Following
My Reads
Sign out
New Delhi 0C
Friday, June 14, 2024
Start 14 Days Free Trial Subscribe Now
Follow Us On