Wednesday, May 22, 2024

Elon Musk wants DKK 400 billion in loans from Tesla

Tesla's shareholders must decide in June whether the car brand's managing director Elon Musk can get DKK 400 billion in salary.

These are not small things that Tesla has asked its shareholders to decide on at the annual general meeting.

Not only will the CEO move the car brand's headquarters from Delaware to the state of Texas. Elon Musk also wants DKK 400 billion in salary.

Bloomberg writes that.

The decisions that Tesla has asked the shareholders to decide on come after a judge in Delaware has decided that Elon Musk gets too much in salary.

READ ALSO: So many cars have been impounded for speeding in 3 years

Shortly after the verdict, Elon Musk advised all other companies and CEOs not to settle or start business in the state.

– We do not agree with what the court in Delaware has decided, and we do not believe that their assessment is consistent with how corporate law works or how it works, wrote Robyn Denholm, who is Tesla's board chairman, in a message to shareholders on Wednesday of this week.

If the shareholders say yes to the board's proposal, Elon Musk will, among other things, get Tesla shares, which alone are worth DKK 340 billion.

But it's actually nothing new. Because already in 2018, the board approved the salary package that the shareholders now have to deal with. But it is new that the salary package is something that the American courts are interested in.

Read more exciting news from and about the world of cars right here!

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