{"id":194669,"date":"2024-06-05T10:00:00","date_gmt":"2024-06-05T14:00:00","guid":{"rendered":"https:\/\/ibkrcampus.eu\/uncategorized\/ron-baron-backs-elon-musks-56b-pay-package-tesla-is-better-with-elon\/"},"modified":"2024-06-06T08:58:32","modified_gmt":"2024-06-06T08:58:32","slug":"ron-baron-backs-elon-musks-56b-pay-package-tesla-is-better-with-elon","status":"publish","type":"post","link":"https:\/\/www.interactivebrokers.eu\/campus\/traders-insight\/securities\/stocks\/ron-baron-backs-elon-musks-56b-pay-package-tesla-is-better-with-elon\/","title":{"rendered":"Ron Baron Backs Elon Musk&#8217;s $56B Pay Package: &#8216;Tesla Is Better With Elon&#8217;"},"content":{"rendered":"\n<h2 class=\"wp-block-heading\" id=\"h-zinger-key-points\">ZINGER KEY POINTS<\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Billionaire Ron Baron defends Elon Musk&#8217;s $56 billion compensation amidst criticism.<\/li>\n\n\n\n<li>Proxy firm advises against Musk&#8217;s pay, but investors expect package reinstatement.<\/li>\n<\/ul>\n\n\n\n<p>In a recent demonstration of unwavering support for\u00a0<strong>Tesla\u2019s\u00a0<\/strong>CEO Elon Musk, billionaire investor\u00a0<strong>Ron Baron<\/strong>\u00a0has articulated strong backing for Musk\u2019s substantial $56 billion compensation package\u00a0<a href=\"https:\/\/www.benzinga.com\/news\/24\/06\/39137649\/elon-musks-potential-purchase-of-house-from-tesla-director-raises-governance-concerns-report\" target=\"_blank\" rel=\"noreferrer noopener\">amidst ongoing scrutiny<\/a>.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-what-happened\"><strong>What Happened:\u00a0<\/strong><\/h2>\n\n\n\n<p>The open letter penned by the chairman and CEO of Baron Capital underscores the ambitious nature of Musk\u2019s 2018 contract, which included stringent performance targets that were initially met with skepticism.<\/p>\n\n\n\n<p>Baron emphasized that without Musk\u2019s unparalleled commitment and exacting standards, Tesla would not exist as it does today. He recounted instances of Musk\u2019s dedication during Tesla\u2019s critical phases, including times when Musk slept at Tesla\u2019s production facilities to oversee operations,&nbsp;<a href=\"https:\/\/www.cnbc.com\/2024\/06\/05\/ron-baron-big-tesla-shareholder-supports-elon-musks-56-billion-pay-package.html\" target=\"_blank\" rel=\"noreferrer noopener\">reported<\/a>&nbsp;CNBC.<\/p>\n\n\n\n<p>&#8220;At Baron Capital, our answer is clear, loud, and unequivocal: Tesla is better with Elon. Tesla is Elon,&#8221; Baron wrote.<\/p>\n\n\n\n<p>Proxy advisory firm ISS has advised&nbsp;<a href=\"https:\/\/www.benzinga.com\/news\/24\/05\/39104486\/another-proxy-advisory-firm-advises-against-voting-for-tesla-ceo-musks-excessive-pay-but-backs-texas\" target=\"_blank\" rel=\"noreferrer noopener\">shareholders to vote against Elon Musk\u2019s $56 billion<\/a>&nbsp;pay package, calling it \u201cexcessive,\u201d despite Tesla\u2019s success. ISS supports moving Tesla\u2019s incorporation from Delaware to Texas and recommends voting against director<strong>&nbsp;James Murdoch<\/strong>.<\/p>\n\n\n\n<p>A Morgan Stanley survey found that 57% of investors expect Elon Musk\u2019s 2018 pay package to be reinstated,&nbsp;<a target=\"_blank\" href=\"https:\/\/www.benzinga.com\/analyst-ratings\/analyst-color\/24\/06\/39124052\/57-of-investors-expect-elon-musks-56b-pay-package-to-be-approved-as-tesla-inches-cl\" rel=\"noreferrer noopener\">with support outweighing opposition by a two-to-one ratio.<\/a><\/p>\n\n\n\n<p>Reflecting on the financial journey, Baron disclosed that since initially investing in Tesla in 2014, his firm\u2019s stakes have grown twentyfold, making Tesla the paramount asset in the Baron Partners Fund (BPTIX).<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-price-action\">Price Action: <\/h2>\n\n\n\n<p>TSLA shares trading higher by 0.76% at $176.09 premarket at last check Wednesday.<\/p>\n\n\n\n<p>&#8212;<\/p>\n\n\n\n<p>Originally Posted June 5, 2024 &#8211; <a href=\"https:\/\/www.benzinga.com\/news\/24\/06\/39182671\/ron-baron-backs-elon-musks-56b-pay-package-tesla-is-better-with-elon\">Ron Baron Backs Elon Musk&#8217;s $56B Pay Package: &#8216;Tesla Is Better With Elon&#8217;<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>In a recent demonstration of unwavering support for\u00a0Tesla\u2019s\u00a0CEO Elon Musk, billionaire investor\u00a0Ron Baron\u00a0has articulated strong backing for Musk\u2019s substantial $56 billion compensation package\u00a0amidst ongoing scrutiny.<\/p>\n","protected":false},"author":1402,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[147,8,12,153,148,7],"tags":[1167,936],"contributors-categories":[407],"class_list":{"0":"post-194669","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-north-america","7":"category-region","8":"category-securities","9":"category-stocks","10":"category-text-articles","11":"category-traders-insight","12":"tag-elon-musk","13":"tag-tesla","14":"contributors-categories-benzinga"},"pp_statuses_selecting_workflow":false,"pp_workflow_action":"current","pp_status_selection":"publish","acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.9 (Yoast SEO v27.3) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Ron Baron Backs Elon Musk&#8217;s $56B Pay Package: &#8216;Tesla Is Better 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