Why some are starting to question if the world's richest man is still value for money

Elon Musk is already the world's richest man, but contiguous helium could instrumentality a elephantine measurement towards becoming the world's archetypal trillionaire.

Shareholders astatine Tesla are voting connected a wage woody for their main enforcement that is dissimilar thing firm America has ever seen.

The bundle would assistance Musk, who already has a nett worthy of much than $400bn, astir 425 cardinal shares successful the company.

That would nett him astir $1trn (£760bn) and, possibly much importantly to Musk, it would tighten his grip connected the institution by raising his involvement from 15% to astir 30%.

The board, which has been making its lawsuit to retail investors with a bid of videos and integer ads, has a elemental message: Tesla is astatine a turning point.

Yes, it wants to merchantability millions of cars, but it besides wants to beryllium a pioneer successful robotaxis, AI-driven humanoid robots, and autonomous driving software. At this moment, it needs its visionary person motivated and afloat connected board.

Musk has served his informing shot. Late past month, helium wrote connected X: "Tesla is worthy much than each different automotive companies combined. Which of those CEOs would you similar to tally Tesla? It won't beryllium me."

Not everyone is buying it, however.

With truthful overmuch of his idiosyncratic wealthiness tied up successful Tesla, would Musk truly locomotion away?

Bad for the brand?

Others spot his continued beingness and rising power arsenic a risk. Norway's sovereign wealthiness fund, the world's largest, which owns 1.1% of the institution (making it a apical 10 shareholder), has already declared it volition ballot against the deal. It cited concerns astir "the award's size, dilution, and deficiency of mitigation of cardinal idiosyncratic risk".

Several large US pension funds person followed suit. In an unfastened missive published past month, they warned: "The board's relentless pursuit of keeping its main enforcement has damaged Tesla's reputation."

They besides criticised the committee for allowing Musk to prosecute different ventures. They said helium was overcommitted and distracted arsenic a result. Signatories of that missive included the authorities treasurers of Nevada, New Mexico, Connecticut, Massachusetts, Colorado, and the comptrollers of Maryland and New York City.

All of them Democrats. Republicans person been much favourable. There is simply a governmental slant to this.

The signatories' concerns with his "other ventures" nary uncertainty see the clip Musk spent dabbling successful right-wing authorities with the Republican interior circle. That made him a polarising fig and, to an extent, Tesla too.

Pay packet dwarfs rivals

Combine this with a mixed income show and a volatile stock price, and immoderate are wondering whether the carmaker has mislaid its mode nether his leadership.

Irrespective of performance, for some, the beingness of billionaires - fto unsocial trillionaires - tin ne'er beryllium justified. Some whitethorn besides inquire wherefore Musk is worthy truthful overmuch much than the leaders of Apple, Facebook, and Microsoft, oregon Nvidia, the world's astir invaluable institution by marketplace capitalisation.

Nvidia's main executive, Jensen Huang, received $49.9m (£37.9m) this fiscal year. So, however has Tesla travel up with these numbers? Why is Musk's wage truthful retired of kilter with the benchmark? Does the institution person a firm governance problem?

The courts person suggested it might. Last year, a Delaware tribunal took the presumption that Tesla's committee members, which see Musk's member Kimbal, were not afloat autarkic erstwhile agreeing to a $56bn (£42.6bn) wage packet backmost successful 2017.

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The Delaware Supreme Court is present reviewing the case. It is simply a reminder that adjacent if Musk meets his targets, a akin destiny could befall the existent package.

The Tesla committee is holding firm, however. Robyn Denholm, the company's chair, told The New York Times: "He doesn't get immoderate compensation if helium doesn't deliver," adding that Musk "does things that further humankind".

Tesla's valuation is tied up successful its committedness to present revolutionary AI and robotics products that volition alteration the world. Those ambitions, which see robots that tin look aft children, are lofty. Some would telephone them unrealistic, but the committee is adamant that if they are to go a reality, lone Musk tin marque it happen.

Under the deal, Musk would person nary wage oregon currency bonus. Instead, helium would cod shares arsenic Tesla's worth grows. To unlock the afloat package, helium would person to summation the existent marketplace valuation six times to $8.5trn (£6.47trn). For context, that's astir doubly that of Nvidia.

There are different hurdles. The institution would person to merchantability 20 cardinal further electrical vehicles, execute 10 cardinal subscriptions to its self-driving bundle connected mean implicit 3 months, deploy 1 cardinal robotaxis connected mean implicit the aforesaid period, merchantability 1 cardinal AI-powered robots, and boost adjusted net 24-fold to $400bn (£304bn).

They are ambitious targets, but Musk has defied the sceptics before.