Leo KoGuan, one of the largest individual shareholders of Tesla Inc. (NASDAQ:TSLA), has publicly voiced his disapproval of CEO Elon Musk‘s compensation package, in the wake of an investor vote currently being held by Tesla.
What Happened: KoGuan expressed his criticism on social media late on Sunday, following a Delaware judge’s decision in January to invalidate Musk’s 2018 compensation package, which was then worth $55.8 billion.
Tesla is now holding an investor vote to decide on Musk’s pay plan approval during its forthcoming Annual Shareholder Meeting.
Musk, who has sold nearly $39 billion worth of Tesla shares since the stock’s peak in 2021, still owns a 13.4% stake in the company. He is also seeking an additional 10%.
KoGuan, who has invested approximately $3.5 billion for a 0.8% stake in Tesla, termed Musk’s request for more voting control as a “robbery attempt.”
“Paid $3.5 billion for measly 0.8% of Tesla in the market. What is your skin in Tesla? Whereas the Magician is minus -$39 billion and already got 13.4% of Tesla,” he posted on X. “Robbery of ten thousand years! But he wanted 10% more. Brainless SUCKERS cluelessly are assisting this robbery attempt.”