Economy Politics Country 2025-10-29T21:35:07+00:00

Tesla CEO Elon Musk Threatens to Resign if $1 Billion Pay Package Isn't Approved

Tesla's chair Robyn Denholm warned shareholders in a letter on Monday that Elon Musk may step down as CEO unless the proposed $1 billion compensation package is approved. This package would make Musk the world's first trillionaire.


Tesla CEO Elon Musk Threatens to Resign if $1 Billion Pay Package Isn't Approved

Robyn Denholm, Chairman of the Board of Directors of Tesla, addresses the shareholders with a pre-recorded message from the upcoming Annual Shareholder Meeting in Austin, Texas, with the participation of the Board of Directors, unless they are unable to attend the meeting in person. This decision, by its very nature, stands critical for the future viability of the company.

Previously, which was considered on the approval of the shareholders, provides for payment of the dividend dollars in the form of options or Tesla actions. If it will be accepted, Musk will be forced to choose, whether to remain the largest shareholder of the company, or to accept the post CEO, which, of course, affects the stability of the company.

The current package, announced at the end of last year, was approved by the Board of Directors of Tesla in the past year. One day, its realization depends on the approval of the shareholders. The company does not disclose details of the payment, but checks, that they are linked with the achievement of long-term goals Tesla.