Tesla tempts Muska. Incentive $ 29 billion in shares

The Management Board of Tesla announced on Monday that he awarded Elon Musk a package of shares of the company worth over $ 29 billion. This is to encourage the billionaire to stay at the head of the company and get him to “focus energy” on directing it.

The company informed about its decision in documents submitted on Monday in the Securities and Stock Exchange Committee (SEC). The board voted to grant 96 million shares to Tesla Musk if he remained as the president of the company for the next two years. The value of these shares is currently $ 29.6 billion.

Justifying this decision in a letter to Tesla shareholders, members of the management board of Robyn Denholm and Kathleen Wilson-Thompson argued that “Elon's detention in the company is more important today than ever before” because of his “unparalleled leadership.”

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“We know that you care most about, among other things, to focus Elon's energy on Tesla. This award is the key first step to achieve this goal,” they wrote.

The remuneration was awarded to Musk despite the deteriorating financial results of the company, which two quarters in a row recorded worse than expected results in terms of revenues and the number of cars sold. The sale of Tesla cars has fallen rapidly, among others in Europe after Musk's involvement in politics.

This is another gigantic salary awarded to the richest man in the world by the company he manages. Last year, the Delaware court annulled the previous package of Tesla shares – today worth $ 85 billion – granted to Musk in 2018; In response to the complaint, some shareholders decided that the company's management board and its independent members have no real independence. The company appealed against the decision and announced that if it wins, the latest package of shares will expire and Musk will only get the first, larger package.

Significant Investors in Tesla have long called Musk – who is the boss or owner of at least five other companies – to focus on business and leave politics and activity on platform X, where he publishes several dozen entries each day.

From Washington Oskar Górzyński (PAP)

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