It’s possible that Elon Musk may get his way once more.

His Tesla pay plan, which has now received shareholder support, is worth up to $56 billion depending on the company’s share price. It accounts for almost 25% of the NHS budget and 75% of all school expenditure in England in 2024–25.

Many of Musk’s fans believe that he is worth every penny that he receives, and shareholders seem to agree, since the deal was supported by about 72% of the voting shares.

Tesla, SpaceX, X (formerly Twitter), Starlink, Neuralink, and his most recent AI venture, X.ai, are among his companies.

One may argue that SpaceX recently launched the most potent rocket in history into orbit, Tesla opened up the US market for electric cars, and a man who willingly became the first person to have a Neuralink microchip placed in his brain is now able to operate a computer with just his thoughts.

Would this portfolio have been as successful without him? is the $56 billion question of the day.

It may be argued that Musk’s compensation package was essentially intended to keep him employed at Tesla.

His future at the manufacturer of electric cars had been a subject of discussion until 2018, when the board of the firm made a decision.

The agreement stated that Mr. Musk would not get any compensation at all if a number of targets were not met, including those related to Tesla’s market value, sales, and underlying profit.

However, considering that he was valued at close to $20 billion based on Forbes magazine’s 2018 rich list, he wasn’t exactly searching under the couch for spare coin at that point.

But if he succeeded in reaching any targets, the possible payoff would be enormous.

To be fair, Musk has met the goals that were set for him. For instance, Tesla’s market value increased from $54 billion to the $650 billion target stated in the first agreement.

Since then, it has fallen back to $570 billion.

It was said that Musk had lost focus in Tesla in 2022 in order to focus on X; hence, it was not his presence, but rather his absence that created an issue.

But it’s obvious that his profile gives these companies a huge boost in value.

Musk like to communicate frequently and personally with his 187 million followers on social media, disliking communications staff.

With Musk on your side, public relations works itself out, producing inconsistent but consistently well-known outcomes.

You might argue that very few people have the ability to create unending worldwide news stories from behind a keyboard—publicity that money cannot purchase.

Along with his immense political influence, he has met with a number of international leaders, most notably President Xi Jinping of China. He says he had a phone call with Russian President Vladimir Putin and also aired a live chat with Israeli Prime Minister Benjamin Netanyahu.

He is an intense and demanding manager who is a workaholic and won’t accept no. Even the most committed workers, according to former coworkers, eventually burn out, but he does not.

Dolly Singh, who was employed by Elon Musk at SpaceX from 2008 until 2013, has previously called Musk a “incredible leader” to BBC News.

“If that wasn’t the case, he wouldn’t be accomplishing the things that he is,” she stated in 2022.

She did, however, acknowledge that working for him was “exhausting.”

Legal experts say it is unclear if the court that rejected the agreement would accept the re-vote and enable the business to reinstate Musk’s salary, even though shareholders approved of his compensation plan.

However, Steve Westly, a previous supporter of Tesla, told the BBC earlier this year that maintaining Musk is not necessary.

“I don’t know if that means Elon is necessary to be running any or all of those companies today, but he is a unique visionary,” he remarked.

“No one stays at the top for a long time, especially when they’re juggling seven different businesses.”

And despite all of Musk’s achievements, there have also been setbacks.

Tesla didn’t turn a profit at all for many years. Then, a tweet about the business going private produced financial instability, which led to an investigation by authorities and his resignation as CEO.

Tesla was on the verge of bankruptcy. Not every SpaceX rocket launch succeeds, and the corporation loses millions of dollars with each one. Shortly after being implanted, the Neuralink chip began to malfunction, although this has since been resolved.

Musk recently stated that Starlink had financially broken even, but a report from Bloomberg suggested that he had underestimated the enormous expense of building the company’s satellite network equipment.

The US, however, views riskier firms differently.

“The US market is not only huge, but also more predisposed to taking big shots,” Mustafa Suleyman, who co-founded Google DeepMind and has just joined Microsoft, told the BBC.

The UK could do with being “more tolerant and more celebratory of failures,” he added.

Musk doesn’t appear to be hurt by his mistakes. He exudes dominance, defiance, and loudness.

He claims that in an attempt to thwart his $56 billion Tesla compensation arrangement, he sent a cake to Delaware today.

His catchphrase, “vox populei, vox dei,” which means “the voice of the people is the voice of God,” is inscribed across it.

(Adapted from BBC.com)

Categories: Economy & Finance, Strategy, Sustainability, Uncategorized