Tesla’s top individual investor, Leo Koguan, isn’t happy with CEO Elon Musk’s massive $55 billion pay package. Koguan has decided to vote against it.
You might not recognize the name, but Koguan is a big deal. Back in 2021, he quietly became the third largest individual shareholder in Tesla, only behind Elon Musk and Larry Ellison.
Koguan, who was born in Indonesia but is now a Chinese American citizen, made his billions founding a giant IT company called SHI International Corp. He’s also involved in education and charity work. Interestingly, Koguan has always been a big admirer of Elon Musk, even calling himself an “Elon fanboy.” He truly believes in Tesla’s mission to make the world more eco-friendly.
Koguan has walked the walk, not just talked the talk. By 2022, he had actually invested more money in Tesla than even Elon Musk himself (though it’s important to remember Musk invested earlier and owns a larger share of the company).
While Leo Koguan might not be a household name, he’s a major player in Tesla. He’s the third-largest individual shareholder, but here’s the kicker: Koguan has actually invested more money in Tesla than anyone else – a whopping $3.5 billion!
Unlike some investors who talk a big game but don’t put their money where their mouth is, Koguan has shown his dedication to Tesla. In fact, his investment is even bigger than Elon Musk’s current investment, although it’s important to remember Musk invested earlier and owns a larger share overall.
What’s even more impressive? Koguan hasn’t sold any of his shares – he’s even bought more recently, bringing his total to over 27 million shares! With all this investment, Koguan’s vote becomes very important. Tesla’s board is asking shareholders to approve a few things:
- Reinstate Elon Musk’s $55 billion pay package (which was previously rejected due to concerns about company leadership).
- Re-elect Kimbal Musk (Elon’s brother) and James Murdock (a friend of Elon) to the board of directors.
Koguan’s decision will be crucial in determining the outcome of these votes. He’s made it clear how he plans to vote his over 27 million shares: against Elon Musk’s massive pay package and against the re-election of two current board members (one of whom is Elon’s brother!).
While Koguan is the first major investor to publicly announce his vote, it’s important to remember that big institutions often hold the most sway in shareholder votes. However, Koguan’s investment is actually larger than that of some institutional shareholders, so his vote still packs a punch!
