Elon Musk Awarded $29 Billion Pay Package Despite Tesla’s Struggles: Outrage
Tesla’s board has approved a new compensation package for CEO Elon Musk, potentially worth $29 billion, despite ongoing legal challenges to his 2018 performance award. The package, consisting of 96 million shares at a discounted price, acknowledges Musk’s contributions despite his not receiving meaningful compensation in years. This decision comes as Tesla navigates challenges including falling sales, political backlash due to Musk’s involvement in politics, and a shift towards AI and robotics under his leadership. While Tesla shares have declined this year, the board believes Musk’s focus on AI and robotics will drive future growth.
John Q. Hosedrinker