Tesla has granted CEO Elon Musk 96 million restricted shares valued at nearly $29 billion to retain him amid fears of his potential departure due to declining sales and performance issues. The board cited the competitive landscape for talent, particularly in AI, as a reason for the substantial share grant. Musk has not received significant compensation for eight years, and his previous pay package is entangled in ongoing legal disputes following shareholder support. Sales have diminished, posing challenges for the carmaker.
"The war for AI talent is intensifying, with recent months including multi-billion-dollar acquisitions of companies and nine-figure cash compensation packages for non-founder, individual AI engineers."
"As you know, Elon has not received meaningful compensation for eight years since the 2012 CEO Performance Award was last earned in 2017."
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