"For all the headlines about an on-off relationship with Donald Trump, baiting liberals and erratic behaviour, Tesla shareholders are loath to part with Elon Musk. Investors in the electric vehicle maker voted on Thursday to put the world's richest person on the path to become the world's first trillionaire, despite the controversy that is now seemingly intrinsic to his public profile."
"Shareholders approved the $1tn compensation plan, which could yield the largest corporate payout in history if he meets a series of tough-looking goals, not least pushing Tesla from its current market value of $1.4tn to $8.5tn (1.06tn to 6.4tn). Musk's fortune, which includes a stake of about 12.5% in Tesla, is already worth $461bn. Musk is Tesla and Tesla is Musk, says Dan Ives, a managing director at the US financial firm Wedbush."
"Ives is a self-described Tesla core bull who nonetheless has consistently raised concerns about the damage that the chief executive's political stance has been doing to one of the world's best-known brands. Tesla sales suffered as Musk's on-off relationship with Trump funding his presidential campaign and his stint leading sweeping cuts at the department of government efficiency damaged the appeal of its vehicles to a left-leaning consumer base."
Shareholders approved a $1tn compensation plan for Elon Musk that could become the largest corporate payout if demanding targets are met, including raising Tesla's market value from $1.4tn to $8.5tn. Musk holds about 12.5% of Tesla and his personal fortune is already around $461bn. Significant brand damage has followed Musk's political actions and public behaviour, including an on-off relationship with Donald Trump, the Twitter acquisition and changes to content moderation. Market research recorded a sharp decline in regard for Tesla, sales suffered among left-leaning consumers, and analysts warned of a potential brand crisis.
Read at www.theguardian.com
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