Elon Musk, the visionary force behind Tesla, has found a staunch ally in billionaire investor Ron Baron as the electric car maker gears up for a crucial shareholder vote on Musk’s $56 billion pay package.
As someone who deeply appreciates Musk’s pioneering efforts in sustainable transportation and his unwavering commitment to innovation, I’m really happy to see Baron’s resounding endorsement.
In an open letter, Baron, whose firm Baron Capital has been a Tesla shareholder since 2014, didn’t mince words in praising Musk’s unwavering insistence on top-tier results.
He emphasized that without these very qualities that make Musk an industry titan, “there would be no Tesla.” These powerful words underscore the pivotal role Musk has played in turning Tesla into a trailblazer in the EV realm.
As Tesla battles to ratify Musk’s 2018 compensation deal, which was previously struck down by a Delaware court, Baron’s backing carries substantial weight. He firmly believes that Musk has met the “aggressive” performance metrics outlined in the original deal, asserting that the visionary CEO has “earned his pay.”
“I think that he earned it, he deserves it, and he should be paid it,” Baron said in a CNBC interview.
Baron’s open letter encapsulates the deep-rooted faith he has in Musk’s ability to steer Tesla towards greater heights, a sentiment I totally share.
In the words of Baron himself, “Elon is the ultimate ‘key man’ of key man risk. Without his relentless drive and uncompromising standards, there would be no Tesla. Especially considering how he slept on the floor of Tesla’s Fremont factory when the company was going through what he called ‘production hell!”
This statement aptly captures Musk’s indispensable role in shaping Tesla’s destiny, a feat that deserves recognition and fair compensation, as argued by the billionaire investor.
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