Sun. Jun 23rd, 2024

Elon Musk may leave Tesla due to refusal of $56 billion bonus

Natasha Kumar By Natasha Kumar Jun8,2024

Elon Musk may leave Tesla due to refusal of $56 billion bonus

Photo : gettyimages.com

Elon Musk may leave Tesla due to refusal of a bonus in the amount of $56 billion. The billionaire should have received such a one-time additional payment for successful management of the company.

He announced a possible decision Chairman of the Board of Directors of Tesla Robin Denholm. He calls on shareholders to approve the additional payment to Musk; a vote on this matter will take place on June 13. This will be the second attempt to resolve this issue, which dates back to the winter of 2024.

Then the Delaware court overturned Elon's right to such large compensation, calling $56 billion an incomprehensible amount, writes The Verge.

— Elon — not a typical leader, and Tesla — atypical company. The usual way companies reward key executives will not lead to Tesla's results. It takes something different to motivate someone like Elon— Robin said in a letter to shareholders.

The head of the board of directors added that Musk has many ideas that he can implement outside the company. That is why the billionaire needs to be “kept.” within Tesla.

Back in May, it became known that Elon Musk was isolating himself from Tesla executives. The engineer decided to concentrate the management of the company in his own hands and sent his deputy Tom Zhu to China to work with the local electric car market.

Prepared by: Sergey Daga

Natasha Kumar

By Natasha Kumar

Natasha Kumar has been a reporter on the news desk since 2018. Before that she wrote about young adolescence and family dynamics for Styles and was the legal affairs correspondent for the Metro desk. Before joining The Times Hub, Natasha Kumar worked as a staff writer at the Village Voice and a freelancer for Newsday, The Wall Street Journal, GQ and Mirabella. To get in touch, contact me through my natasha@thetimeshub.in 1-800-268-7116

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