Kimbal Musk publicly endorsed paying Elon Musk after years without salary and supported Tesla potentially investing in xAI, citing the need for deep AI understanding. Kimbal sits on Tesla's board and said shareholders should decide on compensation and investment. Elon Musk historically receives no cash salary or bonuses but stock-based performance awards tied to milestones. A Delaware judge struck down a $56 billion pay package in January 2024 and again upheld that ruling in December 2024. Tesla has appealed and granted Musk an interim stock package around $29 billion, roughly 96 million shares. Some investors remain skeptical of the interim pay package and Tesla's pivot into robotics.
"I think my brother deserves to be paid," the younger Musk said Friday on CNBC's "Squawk Box." "He has zero pay for the past six to eight years. I don't think that's right. I'll let Tesla shareholders make that decision, but I believe that it does need to be. He needs to be paid."
"Tesla can't go without a deep, deep understanding of AI. We have a great business relationship with xAI," Kimbal Musk, who sits on the Tesla board, added. "I will again let the shareholders decide that, but we are Tesla, an AI company. As any advanced technology company - Nova, Tesla, others - AI is built into everything you do."
Collection
[
|
...
]