Robyn Denholm, chairperson of Tesla's board of directors, warns shareholders that failing to pay Elon the $56 billion he demands might result in no Pedo Guy. Sounds like a pretty cheap way to get back to work!
Tesla is making a humiliating and rather useless full court press to get shareholder's approval of Elon's mega-pay package. The vote won't even get Elon what he wants, but the Board hopes to use it to show the court that the company really does want to pay him $56 billion to keep on creating CyberTrucks and firing the Charging Station team.
Later, she implies that Musk could decamp to "other places" without proper motivation. "What we recognized in 2018 and continue to recognize today is that one thing Elon most certainly does not have is unlimited time," Denholm says. "Nor does he face any shortage of ideas and other places he can make an incredible difference in the world. We want those ideas, that energy and that time to be at Tesla, for the benefit of you, our owners. But that requires reciprocal respect."
The vote to approve the $56 billion pay package, which would make Musk the most highly compensated chief executive in modern history, is "not about the money," Denholm insists. "We all know Elon is one of the wealthiest people on the planet, and he would remain so even if Tesla were to renege on the commitment we made in 2018."
Denholm implying that Musk needs "motivation" in the form of the largest pay package ever approved for a CEO in order to stay at Tesla speaks to the fear many investors feel about his future at the company. Musk's many different projects — heading companies like SpaceX, The Boring Company, Neuralink, X, and xAI — have taken his attention away from Tesla, which is the primary source of his wealth and popularity.
Verge
I have been part of groups where we feared the loss of a special team member. Elon doesn't seem to be that guy.
Previously:
• Tesla layoffs now an ongoing 'bloodbath'
• Elon Musk impulsively fired Tesla supercharger boss after she pushed back on layoffs
• Tesla on autopilot almost crashes into passing train
