"Tesla Shareholders Urged to Reject Elon Musk's $56 Billion Pay Package
A company called Glass Lewis is advising Tesla shareholders to reject a huge pay package for CEO Elon Musk. If approved, it would be the largest CEO pay package in corporate America. Glass Lewis thinks the package is too big, would dilute the value of shares, and concentrates too much ownership in one person. They also mention Musk's involvement in other big projects like his purchase of the social media platform X (formerly Twitter).
Tesla's board of directors, who have been criticized for being too close to Musk, proposed the package. It doesn't include a salary or cash bonuses but instead ties rewards to Tesla's market value, which has grown to $650 billion over ten years. Currently, the company's value is around $571.6 billion. A court already rejected the package in January, and Musk tried to move Tesla's incorporation from Delaware to Texas."