Musk’s $48 Billion Pay Deal Showed that the Entrepreneurs Is Not Obsolete

(p. B3) WILMINGTON, Del.—The scale of concern among Tesla Inc. board members about how to keep Elon Musk‘s attention trained on the electric-vehicle maker loomed large during a weeklong trial over the chief executive’s pay package.

A desire to motivate Mr. Musk to focus on Tesla triggered a monthslong pay negotiation that culminated in the shareholders’ approval of a 2018 CEO equity grant valued at roughly $48 billion at recent stock prices.

That deal—and the process under which it was put together—have been the subject of the trial in Delaware’s business-law court, where testimony has underscored that current and former Tesla board members have long viewed Mr. Musk as irreplaceable.

For the full story, see:

Rebecca Elliott and Meghan Bobrowsky. “Pay Trial Shines Light on Tesla’s View of Musk as Irreplaceable.” The Wall Street Journal (Monday, November 21, 2022): B3.

(Note: the online version of the story was updated November 19, 2022, and has the title “Tesla Board View That Elon Musk Is Irreplaceable Emerged in Pay Trial.”)

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