Elon Musk's $55 billion salary agreement with Tesla continues to be a hot topic. One of Tesla's largest investors announced that they will do their utmost to prevent this agreement from being implemented. The billionaire businessman has been in significant conflict with Tesla investors for some time, centered around the $55 billion revenue deal between Elon Musk and Tesla. The 2018 agreement between Tesla management and Musk included certain sales targets, with Musk receiving shares in return. As per this agreement, Musk earned $55 billion.
In a news article we shared in January, it was mentioned that the court handling this dispute annulled the agreement. Recently, there has been a new development. Marcie Frost, CEO of CalPERS, one of Tesla's largest investors, stated they will do everything possible to prevent this agreement from going through. According to Frost, the growth rate stipulated in the agreement between Musk and Tesla does not match the company's actual growth. Therefore, such a salary agreement is deemed meaningless for the company. Meanwhile, it should be noted that there are other investors who share CalPERS' sentiments.
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