Dogecoin

Elon MemeLord

Elon Musk

<figure>
 <figcaption>
 Cover image via <a href="https://u.today/" rel="noopener noreferrer nofollow">U.Today</a>
 </figcaption>
</figure>
Billy Markus, known as Shibetoshi Nakamoto on Twitter/X, the co-creator of Dogecoin, has shared his take on the recent issue that <a href="https://u.today/bitcoin-community-leader-urges-elon-musk-to-make-x-accept-btc" rel="noopener noreferrer nofollow">Elon Musk</a> has bumped into with his Tesla compensation package.
Markus sided with Musk, believing that the tech entrepreneur should receive this money – a whopping $56 billion compensation for bringing Tesla to the current level of profitability.
<blockquote>
 i honestly don’t understand any argument for elon to not get the pay package that was agreed to 5 years ago, unless the same people making those arguments think no one should honor any deal made with them for the rest of their lives also— Shibetoshi Nakamoto (@BillyM2k) <a href="https://twitter.com/BillyM2k/status/1800666431081820299?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">June 11, 2024</a>
</blockquote>
<h2 id="elon-musk-s-56-billion-compensation-up-in-air">Elon Musk's $56 billion compensation up in air</h2>
Following several major figures on X recently, Billy Markus tweeted that Elon Musk should be allowed to receive the $56 billion compensation package that <a href="https://www.foxbusiness.com/technology/worlds-largest-wealth-fund-to-vote-against-musks-56-billion-tesla-pay-package" rel="noopener noreferrer nofollow">Tesla shareholders agreed to in 2018</a>, provided that Musk brings the company’s market capitalization to at least $650 billion within the next 10 years.
Now, as more than five years have passed since then, Tesla’s market value already stands at $571.6 billion. With this in mind, Tesla has urged its shareholders to reaffirm the compensation package for Elon Musk.
However, Glass Lewis, a major American proxy advisory services company, advised the company’s shareholders in May to reject this compensation plan for the CEO, referring to its enormous size. The eighth biggest shareholder, Norges Bank Investment Management (NBIM), has stated that it will vote against the payout. It stated that despite Musk’s leadership helping to generate significant value for Tesla, it finds the bonus too large.
In late January, a Delaware judge voided the decision to pay $56 billion to Musk in the future. Now, this week, Tesla shareholders will have another vote on whether to approve this compensation package or not – in 2018, Musk committed to working for Tesla without any salary or stocks transferring into his ownership, but he agreed to receive $56 billion in 10 years should they raise the company’s market value significantly.
<h2 id="billy-markus-and-cathie-wood-side-with-musk">Billy Markus and Cathie Wood side with Musk</h2>
Billy Markus, along with prominent figures in finance such as Cathie Wood, have supported <a href="https://u.today/elon-musk-issues-important-black-mirror-statement-to-warn-community" rel="noopener noreferrer nofollow">Elon Musk</a>, stating that he is entitled to receive $56 billion from Tesla in the future.
<blockquote>
 Thanks Cathie <a href="https://t.co/QIMFCkBdS8" rel="noopener noreferrer nofollow">https://t.co/QIMFCkBdS8</a>— Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1798821071128608972?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">June 6, 2024</a>
</blockquote>
Markus tweeted that Musk should receive the money since that was an official deal and was voted for by Tesla shareholders. The DOGE cofounder pointed out that in the future the reputation of these shareholders might be dampened, and other players might treat them in the same way they are treating Musk now.

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

Table of Contents

U_Today

Other articles published on Jun 12, 2024

PEPE vs. DOGE vs. BEFE: Who Leads in June’s Investment Potential?

SHIB Praised by Forbes as "Beyond Cute," Shiba Inu Executive Reacts

Bitcoin Demand Drops Among Individual Investors

MoonBag Draws Investors from Dogecoin and Shiba Inu – Top Crypto Presale in June 2024

Chromia’s Incentivized Testing Program Set for Launch with 250,000 CHR Reward Pool

VGX Foundation and Honeyland Partner to Offer VGX Rewards for Players

Join our free newsletter for daily crypto updates!