Tesla Inc. (NASDAQ:TSLA) CEO Elon Musk on Monday expressed his views on the company’s valuation and the company's critics in a post on X.
Musk pointed out the irony of critics who simultaneously argue that Tesla is overvalued and that his stock award, contingent on Tesla’s future valuation, is excessive..
Musk Calls Out Critics
Musk said that individuals who claim Tesla is overvalued and predict a decline are often the same ones who argue that stock awards, which are based on Tesla achieving unprecedented value, are excessive.
This is not the first time Musk has used X to address critics and defend Tesla’s strategic decisions.
$1 Trillion Pay Package
Tesla shareholders approved a $1 trillion pay package for Musk, which is contingent on achieving ambitious targets, including significant market capitalization and operational goals. This package could make Musk the first-ever trillionaire if achieved.
See Also: Elon Musk Says Tesla, xAI Are ‘Trending Towards Convergence’ In Some Ways
While over 75% of shareholders supported the package, it has drawn criticism from some quarters, with some people even labelling it as excessive. Musk himself acknowledged the challenges, describing the targets as a “tall order” in a recent post.
He said anyone in the public can join him for the ride by investing in the Tesla stock.
While some critics view it as an example of oligarchy, supporters see it as a decisive statement of confidence in Musk's leadership. Michael Dell, CEO of Dell Technologies Inc., congratulated Musk, noting the strong support from Tesla investors.
Adding to the discourse, Musk on Sunday shared personal anecdotes about his early life in Canada, highlighting his modest beginnings in response to criticism of his wealth.
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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