Here is what Tesla Inc. shareholders just bought for $2.6 billion: a stronger guarantee that Elon Musk will stick around for at least the next decade.
Investors on Wednesday approved what may be the largest compensation deal in history for its chief executive officer, pegged on ambitions to turn Tesla into one of the world's largest companies as it ventures beyond solar panels and electric cars. If successful, the award could end up being worth more than $50 billion — a sum so large it might just ensure that Musk's array of other passions and esoteric side projects won't steal too much time from his work at Tesla.
"I expect to remain CEO for the foreseeable future," Musk said during last month's earnings call with analysts. But he didn't rule out handing over the CEO responsibilities if a suitable successor would appear, allowing him to focus on "design and engineering, which is what I like doing best."