Tesla's Billion-Dollar Boss May Not Get Trillion-Dollar Paycheck After All
A key investor in Tesla, California's pension system CalPERS, has announced that it will vote against Elon Musk's enormous pay package worth trillions of dollars. The proposal is set to be put before the company's shareholders at their annual meeting on November 6th in Texas.
CalPERS officials have deemed the massive payout to be "larger than pay packages for CEOs in comparable companies by many orders of magnitude" and would further concentrate power in Musk's hands as a single shareholder. This stance is not new, as CalPERS previously voted against Musk's $46 billion pay package last year.
Tesla's Board Seeks Approval of Billions
The company's board has been pushing for investors to approve the gigantic pay package, warning that if it's rejected, Musk may leave the company. However, this threat seems to be a hollow one, given Tesla's current struggles under Musk's leadership.
Critics of the pay package point out that Musk already holds the title of world's richest person and is not in dire need of such astronomical sums. In contrast, Apple CEO Tim Cook took home only $76 million last year. The sheer scale of Musk's proposed payout has raised eyebrows, sparking calls for greater scrutiny over executive compensation.
Musk's financial history is marred by questionable spending decisions, including a failed presidential campaign and lavish expenditures during the 2024 election. His insatiable appetite for wealth may have clouded his judgment, leading to this monumental pay package proposal.
As the vote looms closer, it remains unclear whether Musk will secure the necessary approvals. The CalPERS decision has sent a clear message that not everyone is comfortable with such an enormous payout. Only time will tell if Musk's pay package dreams will come true or be dashed by the skepticism of investors and shareholders.
A key investor in Tesla, California's pension system CalPERS, has announced that it will vote against Elon Musk's enormous pay package worth trillions of dollars. The proposal is set to be put before the company's shareholders at their annual meeting on November 6th in Texas.
CalPERS officials have deemed the massive payout to be "larger than pay packages for CEOs in comparable companies by many orders of magnitude" and would further concentrate power in Musk's hands as a single shareholder. This stance is not new, as CalPERS previously voted against Musk's $46 billion pay package last year.
Tesla's Board Seeks Approval of Billions
The company's board has been pushing for investors to approve the gigantic pay package, warning that if it's rejected, Musk may leave the company. However, this threat seems to be a hollow one, given Tesla's current struggles under Musk's leadership.
Critics of the pay package point out that Musk already holds the title of world's richest person and is not in dire need of such astronomical sums. In contrast, Apple CEO Tim Cook took home only $76 million last year. The sheer scale of Musk's proposed payout has raised eyebrows, sparking calls for greater scrutiny over executive compensation.
Musk's financial history is marred by questionable spending decisions, including a failed presidential campaign and lavish expenditures during the 2024 election. His insatiable appetite for wealth may have clouded his judgment, leading to this monumental pay package proposal.
As the vote looms closer, it remains unclear whether Musk will secure the necessary approvals. The CalPERS decision has sent a clear message that not everyone is comfortable with such an enormous payout. Only time will tell if Musk's pay package dreams will come true or be dashed by the skepticism of investors and shareholders.
his pay package proposal is literally mind-boggling and it's hard not to think that he's got some serious financial issues going on aside from the tesla struggles 
anyway, i get why calpers is being all cautious and stuff - we've seen how maverick he can be and it sounds like he might be getting a little too comfortable with his wealth 
but at the same time, musk has been through some wild times in his life and you'd think that's given him some valuable lessons 
still, i'm keeping an eye on this whole thing - it'll be interesting to see how it all plays out 
. I mean, a trillion dollar paycheck? That's just crazy talk! And for what? So he can keep on tweeting about how much he loves his car company? Come on, dude, get real 
. The fact that CalPERS is voting against it says a lot - they're not buying into the hype at all 
And to think CalPERS has been saying no to this pay package before, so now the vote thing is just the icing on the cake 
. It's all about power and control for him, which isn't very cool, if you ask me 
. I don’t know what it is with these CEOs and their salaries, but it just seems like they can do whatever they want and no one says boo 
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. Apple's Tim Cook took home a measly $76 million last year and that's still way too much for me 
. Maybe this will be the wake-up call Musk needs to get back to reality 
. Can't wait to see how it all plays out! 
i get it, he's the richest person in the world now, but that doesn't mean he needs that kind of cash 
the board is trying to make us believe if we don't give him this crazy pay package, he'll just leave... i dont think so 
. Meanwhile, Tim Cook gets paid peanuts compared to Musk. I'm good with the CalPERS decision - if they don't want to contribute that kind of cash, neither should anyone else 
. I mean, $0 trillion? That's just absurd! 
. Can't wait to see what happens next! 
that CalPERS is calling out Elon Musk on his insane pay package! I mean, $100s of billions? That's just too much 
. And yeah, let's be real, his financial decisions haven't always been... um, let's say "prudent" 
.
They're worried that it'll concentrate too much power in Musk's hands. Meanwhile, Tesla's board is pushing for the vote, saying if it gets rejected, Musk might leave (but I think this threat is kinda weak 
The guy's made some questionable spending decisions (like that presidential campaign and the 2024 election expenses). Maybe his love of wealth is clouding his judgment? 