TECH - Tesla Bull Gary Black Dismisses 'Insane Fear-Mongering' Over CEO Elon Musk's Pay Plan: 'Just Pay The Man What Is Due To Him' | Benzinga
Tesla, Inc. (NASDAQ:TSLA) shares diverged from broader market gains on Monday, ending lower for the session. Fund manager and Tesla investor Gary Black tried to ease concerns about shareholders potentially rejecting the proposal to ratify CEO Elon Musk‘s compensation plan.
What Happened: Addressing Tesla bulls worried about a possible shareholder rebuff and Musk leaving the company, Black said, “This is insane fear-mongering at its worst.” He expects shareholders to overwhelmingly approve the pay plan in 2024, as 73% did in 2018.
In 2018, shareholders vetted the proposal before Tesla created eight times more value for its shareholders between 2018 and 2024, compared to the mere 1.6 times increase in the value of the Nasdaq 100 Index, he noted. “Just pay the man what is due him,” Black ...