Elon Musk could be on track for a $1trn (£761bn) pay package - if Tesla meets a series of extremely ambitious targets over the next 10 years.
Tesla chair Robyn Denholm, in a letter to shareholders last week, warned investors that Musk may leave the company if the plan was denied, claiming Tesla would lose “significant value without Musk” as Tesla “may no longer be valued for what we aim to become.” Denholm and other board members wrote in another letter they believe Musk's vision for the company is “vital to navigating this crucial inflection point.
Tesla shareholders approved CEO Elon Musk's historic pay package at the company's annual shareholders meeting in Austin, Texas.
Tesla shareholders have overwhelmingly approved a compensation package for CEO Elon Musk that could be worth as much as $1 trillion in company shares.
Tesla CEO Elon Musk scored a resounding victory on Thursday as shareholders approved a pay package of as much as $878 billion over the next decade, endorsing his vision of morphing the EV maker into an AI and robotics juggernaut.
Musk had threatened to leave Tesla if the record-setting package didn't pass.
Shareholders approved a plan to grant Mr. Musk shares worth nearly $1 trillion if he meets ambitious goals, including vastly expanding the company's stock market valuation.
Tesla has warned that Elon Musk could step down as CEO if his payday isn't approved, and analysts say investors are likely to grant him what he wants.
Tesla shareholders are hours away from deciding the fate of Elon Musk's $1 trillion pay package. Tesla's annual shareholder meeting kicks off Thursday afternoon at 4 p.m.
Tesla shareholders will decide on CEO Elon Musk's $1 trillion pay package, which is tied to ambitious market cap goals and company milestones over a decade.
Tim Higgins, Wall Street Journal business columnist, joins 'Squawk Box' to discuss Tesla's annual meeting today, fate of CEO Elon Musk's $1 trillion pay package, what happens if the pay package is not approved, Tesla's valuations, and more.
Tesla shareholders will decide on Thursday whether to pay CEO Elon Musk up to $878 billion, the richest executive pay in history by a long shot.