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Outbyte Driver Updater FREEFix the driver behind crashes, sound loss and screen glitchesFind Drivers →Outbyte PC Repair FREEClear out junk files and repair common Windows errorsFree Scan →No: Elon Musk did not announce that he would quit Tesla if he failed to get a new pay package. In a June 2024 shareholder solicitation, Tesla chair Robyn Denholm warned that Musk had limited time and other places to direct his ideas and energy if shareholders rejected ratification of his 2018 performance award. Futurism illustrated the reaction with a few Reddit comments welcoming the possibility of his attention shifting elsewhere—not evidence of what Tesla fans or shareholders generally thought.
What Tesla asked shareholders to approve
On June 3, 2024, Tesla filed a shareholder letter signed by board chair Robyn Denholm. The company urged shareholders to support Proposal Four, ratifying Musk’s 2018 CEO Performance Award, and Proposal Three, moving Tesla’s legal domicile from Delaware to Texas. Tesla said the Delaware Court of Chancery had nullified the 2018 award. The letter is in Tesla’s SEC filing.
Futurism described the award as a $56 billion package. That headline figure refers to the 2018 compensation award at issue in the 2024 ratification campaign; it does not mean Musk received $56 billion in June 2024. The vote was about ratifying a prior award, not approving a newly paid sum. Futurism’s June 7, 2024 article reported that the vote was scheduled for the following week.
What Denholm warned—and what she did not say
In the company’s vote-solicitation letter, Denholm wrote: “What we recognized in 2018 and continue to recognize today is that one thing Elon most certainly does not have is unlimited time. Nor does he face any shortage of ideas and other places he can make an incredible difference in the world.” She added: “We want those ideas, that energy and that time to be at Tesla, for the benefit of you, our owners.” The SEC-filed letter frames this as Denholm’s argument to shareholders: Tesla wanted Musk’s attention and effort to remain focused on the company.
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That is a warning about the risk of Musk directing his time and ideas elsewhere if the award were not ratified. It is not a direct statement from Musk that he would resign, nor does the letter establish that he had announced plans to leave Tesla.
Why Tesla’s board argued for ratification
Denholm’s letter made the case in the context of Tesla’s performance and Musk’s role. The company said Tesla had created more than $735 billion in shareholder value over the six years before the letter. The filing attributed the figure to FactSet and defined the measurement as the change in market value from March 21, 2018, to December 31, 2023. This was a claim in Tesla’s advocacy material, not an independent finding that Musk alone caused the increase. Tesla’s letter provides its stated basis and dates.
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Did Tesla fans want Musk to leave?
Futurism quoted individual Reddit comments reacting to the warning, including “Don’t threaten me with a good time” and “Please do,” followed by one commenter’s wish that Tesla focus on cars. Those examples show that some commenters welcomed the prospect of Musk’s attention moving elsewhere. They do not amount to a poll, measure how common that view was among Tesla fans, or reveal shareholder sentiment.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.Keep the 2024 vote separate from later compensation debates
The 2024 campaign concerned ratification of the 2018 award after the Delaware Court of Chancery had nullified it, as Tesla described in its filing. A 2025 proxy exhibit later referred to investor fatigue around the 2018 plan, but that is a subsequent debate, not proof of the award’s ultimate legal status. The available records do not establish that status as of October 8, 2026. The 2025 proxy exhibit should therefore be read as later context, not as a final resolution of the award’s legal history.
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