'Fair Chance' Elon Musk Will Leave Tesla If Shareholders Vote Against Compensation Package, Warns Gary Black
Portfolio Pulse from Benzinga Neuro
Gary Black, Managing Partner at The Future Fund LLC, warns that there is a 'fair chance' Elon Musk will leave Tesla if shareholders vote against his 2018 compensation package in the 2024 proxy vote. Black argues that Musk's departure could lead to a talent drain and hinder Tesla's progress in achieving unsupervised autonomy. The compensation package, valued at $56 billion, was overturned by a Delaware court earlier this year, and Tesla's board is seeking to reinstate it through a shareholder vote in June.
May 30, 2024 | 9:11 am
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Gary Black warns that voting against Elon Musk's 2018 compensation package could lead to Musk leaving Tesla, causing a talent drain and stalling progress in unsupervised autonomy. This could negatively impact Tesla's stock price.
If Elon Musk leaves Tesla, it could result in a significant talent drain and hinder the company's progress in achieving unsupervised autonomy. This would likely have a negative impact on Tesla's stock price in the short term.
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