Support Now From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging. At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story. The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it. Your support makes all the difference. Read more Tesla CEO Elon Musk could leave the company if his proposed $1 trillion salary is not approved, the automaker’s Board Chair Robyn Denholm has warned. Denholm appealed to shareholders in a letter published Monday, a little over a week before the company’s November 6 annual meeting, as the company’s board has come under fire for the level of control shareholders have given Musk. The proposed plan was designed to retain and motivate Musk, the world’s richest man, for at least another seven-and-a-half years, Denholm wrote in the letter. Denholm noted that Musk’s leadership was “critical” to Tesla’s success, and without a plan that will incentivize him, the company could lose his “time, talent and vision.” “Without Elon, Tesla could lose significant value, as our company may no longer be valued for what we aim to become,” she wrote. open image in gallery Tesla CEO Elon Musk could leave the company if the board does not approve of his $1 trillion payment plan, the automaker’s board chair warned shareholders on Monday (AP) Musk’s leadership is what keeps Tesla from being “just another car company,” as the EV maker’s focus turns to full self-driving vehicles and Optimus, also known as Tesla Bot, Denholm said. The huge proposed package would give Musk 12 tranches of stock options tied to ambitious targets, including a market capitalization of $8.5 trillion and milestones in autonomous driving and robotics. He could make up to $1 trillion over 10 years, so long as Tesla hits all its growth targets. His last deal, earning $56 billion in 2018, also broke records at the time. In her letter, Denholm emphasizes that the package would be crucial to align Musk’s incentives with shareholder value and long-term growth. With it, she urged investors to re-elect three long-standing directors who have worked closely with Musk. Tesla’s board has come under fierce criticism over its apparently close relationship with Musk. A Delaware court earlier this year struck down his 2018 pay deal, finding it was improperly awarded and negotiated by directors who were not fully independent. Meanwhile, several groups have come out in opposition to the pay package, with Institutional Shareholder Services, the biggest proxy advisory firm in the world, urging investors to vote against some or all of it Musk himself went off on a tirade about the criticism received over the proposed package during an earnings call last week, saying the advisory firms “have no freaking clue” and describing them as “corporate terrorists.” open image in gallery The board’s chair urged investors to vote to re-elect three longstanding directors who have worked closely with Musk (AP)