“Honestly, I don’t know how much interplanetary travel costs. It’s not a hobby for me.” In front of a Delaware judge, Tesla, Inc. Chairman Robyn Denholm tried to justify CEO Elon Musk’s outsized compensation plan.
In 2018, the electric vehicle maker awarded a landmark compensation of $56 billion in stock, over ten years, based on performance criteria. A plan challenged in court this week by a Tesla shareholder.
mars direction
To explain this remuneration, Robyn Denholm explains that Elon Musk therefore intended to use this sum to finance his “interplanetary travel” projects. A statement that corroborates the statements of the main interested party in 2020, noting that he did not own “almost any property that had monetary value.” Musk has often said that he wants to spend his money on trips to Mars and colonization projects.
More pragmatic, Robyn Denholm later assured that this remuneration was also a way to keep him committed to Tesla. Shares of the automaker had an unprecedented boom in early 2020 to peak in late 2021. Elon Musk’s setbacks with Twitter, bought in part by the Tesla stock sale, however, weakened shares. .
Source: BFM TV
