Musk may leave Tesla without a $1 trillion payout package – chairman of the company's board of directors

Elon Musk may resign as Tesla's CEO Robin Denholm said in a letter to investors that the company's shareholders will not approve his $1 trillion compensation package, writes Reuters.

Denholm emphasized that the proposed remuneration plan aims to keep Musk at the helm of the company for at least another seven and a half years.

According to her, it is thanks to his "time, talent, and vision" that Tesla has achieved its current success, and Musk's continued leadership is critical to the development of artificial intelligence and autonomous technologies in the company.

According to the proposal, Musk will receive 12 tranches of Tesla stock options if the company achieves a number of ambitious goals, including a market capitalization of $8.5 trillion and a breakthrough in autopilot and robotics.

The chairman of the board of directors urged shareholders to support the deal, calling it necessary to align Musk's interests with the company's long-term growth.

She also asked for the re-election of three directors who work closely with Musk.

Tesla's board of directors has long been under pressure due to accusations of excessive dependence on Musk.

• On September 15, it became known that Musk invested $1 billion in Tesla shares in response to the largest payout package in history.
• On October 3, it was reported that Tesla shareholders, including SOC Investment Group and several officials, had been informed that Tesla's urged investors to vote against the unprecedented payout package Elon Musk for $1 trillion.