Some Tesla shareholders say diverting Nvidia chips is further proof that Elon Musk doesn't deserve a multibillion-dollar pay package
Business InsiderJUN 2024
Musk's $56B Tesla Pay Deal Rejected for Second Time
Above: Tesla Chief Executive Officer Elon Musk arrives for Israeli Prime Minister Benjamin Netanyahu's speech to a joint meeting of Congress at the US Capitol on July 24, 2024, in Washington, DC. Image copyright: SAUL LOEB/Contributor/AFP via Getty Images
The Spin
Narrative A
It is time for Tesla to respect its deal with its Chief Executive and pay what it owes. Musk deserves to be compensated for achieving Tesla's financial benchmarks and advancing the company into global prominence in the electric vehicle sector.
Narrative B
Musk's pay is excessive and not in the interest of the company or its shareholders. Musk's proposed package actually results in Tesla shareholdings resembling more of a meme stock. The company must focus more on quality and improving business processes.