Even when compared with other CEOs, who routinely get paid roughly 200 times more than their typical employees, Elon Musk’s pay package was eye-opening.
Critics have argued for years that CEO pay packages are exorbitant.
Under Musk’s pay plan, he received a chunk of stock options each time Tesla’s market value rose by $50 billion.
General Motors, for example, considers executive salaries at 3M, Boeing, Ford, IBM and other huge companies, and uses complex formulas to determine CEO compensation.
Corporate law experts say any new compensation package for Musk will likely be challenged in court unless Tesla's board either resigns en masse or follows a meticulous process to protect shareholders by passing a substantially smaller package.
Persons:
Tesla, Kathaleen St, Jude McCormick, Musk, Bernard Arnault, Critics, Blackstone’s Steven Schwarzman, “, ‘, ’ ” McCormick, Musk’s, shouldn’t, Mary Barra, Jim, Mark Zuckerberg, Tim Cook, they’re, ”, Charles Elson, ” Elson, Elson
Organizations:
Elon, Musk, Forbes, General Motors, 3M, Boeing, Ford, IBM, Big Tech, University of Delaware, Lawyers
Locations:
Delaware, —, Barra, U.S