Tesla Retail Shareholder Who Poured $3.5B Into EV Stock Screams Foul Over 'Magician' Elon Musk's Pay Package Plan, Urges Other Investors To Vote No: 'Don't Be A Sucker'
Portfolio Pulse from Benzinga Neuro
Leo KoGuan, a major individual shareholder of Tesla Inc. (NASDAQ:TSLA), criticized CEO Elon Musk's compensation package and urged shareholders to vote against it. KoGuan, who invested $3.5 billion in Tesla for a 0.8% stake, labeled Musk's request for more voting control as a 'robbery attempt.' The criticism follows a Delaware judge's decision to invalidate Musk's 2018 compensation package. Tesla is set to hold an investor vote on Musk's pay plan during its Annual Shareholder Meeting on June 13.
May 06, 2024 | 3:19 am
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Leo KoGuan, a significant Tesla shareholder, criticizes Elon Musk's compensation package, calling it a 'robbery attempt' and urging a NO vote at the shareholder meeting.
KoGuan's public criticism and the call to vote against Musk's compensation package could lead to negative sentiment among investors, potentially affecting Tesla's stock price in the short term. The controversy surrounding Musk's compensation and the upcoming shareholder vote add uncertainty, which markets typically react negatively to. Additionally, the S&P's recent lowering of Tesla's management and governance score due to concerns over Musk's dominant role could compound the negative impact.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 90