Elon Musk Rakes in 56 Billion Dollars in One Night
- Published on 14/06/2024 9:40
- Modified on 25/09/2025 4:34
Without much surprise, Tesla’s shareholders’ meeting has approved the $56 billion salary package allocated to Elon Musk.
Tesla’s shareholders considered that the compensation agreement established 6 years ago with CEO Elon Musk was legitimate. This agreement had previously been rejected by a Delaware judge, who seemed more eager to target a global celebrity than to provide any valid reasoning. So far, nothing too severe, you might think, given the profits amassed by the American manufacturer. A small clarification, though: we are talking about several billion dollars in Musk’s case! To be exact, $56 billion.
In 2018, a special agreement was reached by shareholders with Elon Musk under which he would not receive any salary from the company but would be compensated later based on the achievement of Tesla’s growth and profit objectives. As you’ve understood, the brand has far exceeded all forecasts with a valuation of over $700 billion. It is now time to cash in because, after all, launching rockets costs a fortune and Musk’s personal finances desperately need a little boost.
Musk thinks about tomorrow
Elon Musk was, of course, present to defend his claims. At the end of the general meeting, he emphasized that Tesla is now much more than just a car manufacturer. Energy storage, engineering for third parties, artificial intelligence, and humanoid robots—these are all developments that must ensure the brand’s future. This is fortunate because Tesla is being outpaced by Chinese manufacturers in all global markets.
However, Elon Musk did not leave the meeting with a well-stocked briefcase. The compensation consists of stock options that Musk would be required to hold for five years. A timing that ultimately suits everyone because while Tesla’s medium-term future is assured, its stock valuation is rather on a downward trend. Moreover, there are rumors of political ambitions for Elon Musk, who is known to be very close to Donald Trump.
This page is translated from the original post "Elon Musk empoche 56 milliards de dollars en une nuit" in French.
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