Dogecoin Founder Reveals How Elon Musk’s Wealth Could Surge by Billions

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As a researcher with a background in business and economics, I believe that Elon Musk should be allowed to receive the compensation package that was agreed upon by Tesla shareholders five years ago. The deal was made in good faith and based on the condition that Musk would bring the company’s market capitalization to at least $650 billion within the next 10 years. With Tesla’s current market value already exceeding this threshold, it seems only fair that Musk be rewarded for his leadership and contributions to the company’s success.

Shibetoshi Nakamoto, also recognized as Billy Markus on various platforms like Twitter, is the co-founder of Dogecoin. Recently, he weighed in on Elon Musk’s ongoing dilemma regarding his Tesla compensation package.

Markus supported Musk’s case, arguing that he deserved the substantial $56 billion reward for guiding Tesla towards its present profitable stage.

If I were an expert, I would say: It’s hard for me to follow any reasoning against Elon Musk receiving the compensation package that was settled five years ago, unless those same individuals holding this view believe that no one should be bound by agreements made in the past.

— Shibetoshi Nakamoto (@BillyM2k) June 11, 2024

Elon Musk’s $56 billion compensation up in air

After numerous influential personalities endorsed X on social media lately, Billy Markus expressed his viewpoint on Twitter: Elon Musk deserves the $56 billion remuneration package approved by Tesla shareholders in 2018, given that he manages to increase the company’s market value to a minimum of $650 billion within the subsequent decade.

As a crypto investor reflecting on the past, I can’t help but marvel at how Tesla’s market value has grown significantly since that time, now standing at an impressive $571.6 billion. Given this development, it comes as no surprise that Tesla is asking its shareholders to reconsider Elon Musk’s compensation package once again.

As a crypto investor and shareholder in Tesla, I’ve taken note of Glass Lewis’ recommendation to reject the CEO compensation plan due to its excessive size. Norges Bank Investment Management, one of the company’s top 8 shareholders, has announced their intention to vote against it as well. Although Musk’s leadership has played a significant role in creating value for Tesla, NBIM believes that the bonus is simply too generous.

A Delaware judge annulled Elon Musk’s $56 billion compensation deal from late January. This week, Tesla shareholders will hold a new vote on whether to endorse this remuneration package or not. In 2018, Musk pledged to forgo a salary and stock transfers, but agreed to receive $56 billion if the company’s market value increased substantially over a ten-year period.

Billy Markus and Cathie Wood side with Musk

Billy Markus, like notable finance personalities including Cathie Wood, has endorsed Elon Musk’s claim to potentially earning $56 billion from Tesla in the future.

Thanks Cathie

— Elon Musk (@elonmusk) June 6, 2024

Markus expressed his view on Twitter that Musk was entitled to the funds based on the official deal and shareholder approval. However, he cautioned that the standing of these shareholders could be negatively impacted in the future, potentially leading to similar treatment from other industry players.

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2024-06-12 13:27