Tesla board chair Robyn Denholm warned shareholders in June 2024 that Elon Musk had other places to direct his time and ideas if they rejected ratification of his 2018 CEO performance award. She did not report that Musk had said he would quit. The “fans say fine” reaction came from a few Reddit comments cited by one article, not a poll of Tesla owners or shareholders.
What Tesla shareholders were being asked to approve
In a June 3, 2024 shareholder letter filed with the U.S. Securities and Exchange Commission, Tesla solicited votes for two proposals: ratifying Musk’s 2018 CEO Performance Award and moving the company’s legal domicile from Delaware to Texas. The letter said the Delaware Court of Chancery had nullified the 2018 award. Tesla’s SEC filing is the primary source for the company’s arguments and the wording of Denholm’s letter.
Futurism described the award as a $56 billion package. That headline figure refers to the 2018 performance award at issue in the 2024 ratification campaign; it does not mean Musk was paid $56 billion in June 2024. The vote was about whether shareholders would ratify that prior award. Futurism’s June 7, 2024 article reported on the campaign ahead of the vote scheduled for the following week.
What Denholm’s warning meant
Denholm’s letter framed Musk’s attention as something Tesla might lose if shareholders rejected the proposal. She 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 places those comments in Tesla’s solicitation for shareholder support.
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In other words, the chair argued that Musk could direct his effort elsewhere. The letter is not a direct statement from Musk that he would resign or leave Tesla if the award were not ratified. Treating it as a confirmed ultimatum would overstate what the filing says.
What the “fans say fine” reactions show—and don’t show
Futurism quoted Reddit comments including “Don’t threaten me with a good time” and “Please do,” with one commenter wishing Tesla would focus on cars. Those posts illustrate that some commenters welcomed the possibility of Musk spending less time at the company. They do not establish how Tesla fans, owners, employees, or shareholders generally felt. Neither Futurism’s examples nor the SEC letter supplies a representative survey or an estimate of how common that view was.
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How to read Tesla’s shareholder-value argument
In its solicitation, Tesla said shareholder value had increased by more than $735 billion over the six years before the letter. The company cited FactSet and defined the measure as the change in market value from March 21, 2018, to December 31, 2023. That is Tesla’s advocacy claim and a market-value comparison over specified dates—not an independent finding that Musk alone caused the increase. Tesla’s filing gives the company’s stated basis for the figure.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.Keep the later compensation debate separate
A 2025 proxy exhibit refers to investor fatigue around the 2018 plan, but that later discussion is distinct from Denholm’s June 2024 solicitation and the vote campaign described at the time. The available records cited here do not establish the award’s ultimate legal status as of October 8, 2026. Do not treat the 2024 warning, the Reddit comments, or the later proxy reference as proof of what happened to the award after that campaign. The 2025 proxy exhibit provides the later context.
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