Kimbal Musk made a rare TV appearance to say his older brother Elon—the world’s richest man—needs more money. Tesla’s 54-year-old CEO remains locked in a legal battle with the electric car company over his pay package. While worth more than $400 billion, Musk takes no salary or cash bonus from Tesla, with his compensation coming solely as stock-option awards that vest when the company meets performance targets. Tesla’s board—upon which Kimbal sits—this month approved an “interim” grant of 96 million shares worth about $29 billion that will pay out in two years if Elon stays in a key role. Speaking on CNBC’sSquawk Box on Friday, Kimbal said, “I think my brother deserves to be paid. … He has zero pay for the past six to eight years. I don’t think that’s right." Kimbal, 52, added that the company’s shareholders would decide on the matter, but “he needs to be paid.” In January 2024, Musk said he wanted more control of Tesla. “I am uncomfortable growing Tesla to be a leader in AI & robotics without having ~25% voting control,” the former adviser to President Donald Trump wrote on X. “Unless that is the case, I would prefer to build products outside of Tesla.”
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