Billionaire investor Ron Baron, a long-time shareholder and bull of Tesla, wrote a public letter supporting Elon Musk's controversial $56 billion compensation package. Baron notes the 2018 package included ambitious performance metrics that few believed could be achieved, and Musk would have earned nothing without meeting them. Baron calls Musk the "ultimate ‘key man’ of key man risk" and credits his drive for Tesla's success. Baron has seen about 20 times the returns on his Tesla investment since 2014, with the stock as the largest holding in his fund. If approved, the pay package would be the largest in corporate America if approved.
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00:00It's Benzinga, and here's what's on the block.
00:02Billionaire investor Ron Barron, a longtime shareholder and bull of Tesla, wrote a public
00:07letter supporting Elon Musk's controversial $56 billion compensation package.
00:12Barron notes the 2018 package included ambitious performance metrics that few believed could
00:17be achieved, and Musk would have earned nothing without meeting them.
00:20Barron calls Musk the ultimate key man of key man risk and credits his drive for Tesla's
00:26success.
00:27Barron has seen about 20 times returns on his Tesla investments since 2014, with the
00:31stock as his largest holding in his fund.
00:33If approved, the pay package would be the largest in corporate America.
00:36For all things money, visit Benzinga.com.