Elon Musk’s $46B Pay: Tesla Shareholders Oppose Current Board

Elon Musk's massive $46 billion salary package is now being heavily criticized by several Tesla shareholders. Musk has called upon other shareholders to vote against this payout.

Moreover, the Tesla shareholders who brought up the complaint are now calling out the board to vote against other board members, including Elon Musk's brother, Kimbal Musk.

In this new letter, shareholders no longer agree with what the company is doing, especially with how it holds up the CEO and co-founder on a pedestal.

Tesla Shareholders Are Against Elon Musk's $46B Pay

A group of Tesla shareholders have sent a letter to other shareholders to get on board with their disapproval of Musk's controversially high payout of $46 billion.

The letter discussed urging other shareholders to vote against the massive salary package of the company's CEO and co-founder, going as far as to say that some members are "overly beholden to CEO Musk."

The shareholders also said that Tesla's board has many members who have "close personal ties" to the CEO, which prevents them from making the right and just decisions.

It is known that this pay package was previously approved by board members in 2018, but it was later opposed and nullified last January, also involving the change of its incorporation fiasco.

Tesla Shareholders vs. Board Members

In the letter, the shareholders are also urging the board members to go against current members Kimbal Musk and James Murdoch, asking them to vote against the two in the upcoming board reelection.

The letter also urged that there was misleading and false information before the 2018 vote for Musk's payout, a problem that the company still faces today.

Tesla and Its Company

Tesla and Elon Musk had several instances where they did not meet eye-to-eye, and despite the renowned billionaire known for co-founding the company, they had various run-ins with each other in the past and recent times.

The highly controversial "funding secured" tweet by Musk from 2018 is known for seeing its case go to the SEC, which initially asked the executive to testify in its hearings.

The previous tease about Tesla going public saw a massive fiasco at the company for many years before it turned into a case, and this is a testament to how Musk faces massive scrutiny even with his shareholders.

It is known that earlier this year, Musk also moved towards acquiring a 25 percent voting control over Tesla, giving him more power to enact what he sees fit for the company with this expanded proposition.

There have been several run-ins and scrutinies that Musk faced with Tesla shareholders and board members over time, and this only shows because of the executive's antics and actions that have cost the company over time.

Now, his goal of controlling Tesla with more power may see a significant halt due to the recent letter that came to light, with several board members also threatening their future within the company.