Money is at the forefront of an issue between Tesla and the world’s wealthiest person. Elon Musk is urging shareholders to approve his $1 trillion payday; otherwise, he’ll take extreme action.
Last month, the automotive company offered to put that much money into Elon’s wallet. As part of the plan, the businessman and entrepreneur would receive 12% of Tesla’s stock. If the company reaches its targets, milestones, and market capitalization of $8.5 trillion, then Elon would pocket a cool $1 trillion.
One former employee, however, is speaking up against Elon, but the Tesla CEO is fighting back.
Elon Musk warned shareholders he could step down as Tesla CEO
Not everyone the massive payday being offered to Tesla’s CEO is a good idea. Romain Hedouin, a former investor and employee of Tesla, believes they’re paying Elon too much, while recommending hiring a different CEO who might be a little cheaper.
That has not gone over well with the billionaire entrepreneur. On his X account, Elon issued a warning to all Tesla shareholders. “Tesla is worth more than all other automotive companies combined. Which of those CEOs would you like to run Tesla? It won’t be me,” said Elon.
Romain previously expressed concern, saying that Tesla may barely beat inflation in the coming years, while also projecting that they will underperform on the S&P 500. He concludes that other competent CEOs could grow the company just as much as Elon without all the political drama.
It’s an issue that is dividing many people. Proxy adviser Glass Lewis says Elon’s payday could lead to share dilution. Tesla Chair Robyn Denholm, however, previously said that Elon’s singular vision is vital to them navigating this critical inflection point.
Elon shouldn’t feel too down if he doesn’t get his $1 trillion. Last month, he reached the half-trillion-dollar mark. That makes him about $150 billion richer than the world’s second richest person, Larry Ellison, co-founder of Oracle. Larry had temporarily overtaken Elon for that #1 spot in September.
TELL US – IS PAYING ELON MUSK $1 TRILLION A SAVVY MOVE FOR TESLA’S FUTURE?
