Elon Musk Pay: Elon Musk may be out of his company, Tesla chairman told the reason

The names of the electric vehicle company Tesla and its CEO Elon Musk are strongly associated with each other. Whenever Tesla is mentioned, Elon Musk's name automatically comes to the fore. However, now clouds of risk are looming over this deep relationship. It is possible that Elon Musk may leave the company in the coming days and separate himself from Tesla.

In such a situation, he will leave the company

Tesla's chairperson Robin Denholm has issued a warning about Elon Musk leaving the company. Before the company's shareholders' meeting this week, Denholm has said that if Elon Musk's proposed pay package is not approved, then in such a situation he may separate from the company. The Tesla chairperson has written a letter to the shareholders in this regard.

The package is stuck since 2018

This entire controversy is about Elon Musk's package in Tesla. Elon Musk has been demanding a special package for himself. The management has prepared a proposal for a huge package of $56 billion for him. However, this proposal has been stuck for many years. The proposal was prepared in 2018 itself, but it has not been approved yet.

Some shareholders opposed

An important meeting of Tesla shareholders is going to be held on 13 June this week. In that meeting, Tesla shareholders will vote on the pay package of CEO Elon Musk. The company's management is trying to get the package proposal approved by the shareholders. On the other hand, a group of some shareholders is opposing the package. A group led by New York City Comptroller Brad Lander, SOC Investment Group and Amalgamated Bank wrote a letter last month to all the investors (shareholders) of the company, appealing to vote against the proposed pay package of billions of dollars of Tesla CEO.

Tesla's chairperson gave this argument

Denholm has earlier also appealed to the shareholders to vote on Elon Musk's pay package. He says that Elon Musk is the most important employee of Tesla and yet he has not received any remuneration for his work for 6 years. Denholm says in the letter – neither Tesla is a normal company nor Musk is a normal employee. For this reason, the package received by Musk in exchange for work in Tesla cannot be thought of as per normal companies.

Elon Musk has made this demand

Elon Musk currently has about 13 percent stake in Tesla. Elon Musk has demanded to increase his stake in Tesla to at least 25 percent. He has also warned the company that if he does not get at least 25 percent stake, then instead of spending time in the EV company, he can shift focus to AI, robotics etc.

Also read: SEBI is worried about the increased participation in F&O segment, gave this proposal to reduce the risk

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