Billionaire Tesla shareholder Ron Baron says he supports Elon Musk’s $56 billion pay package

• Tesla shareholder Ron Baron has backed Elon Musk’s $56 billion pay package. 
• The investor said that without Musk, there would be “no Tesla” in an open letter. 
• Tesla is battling to win over shareholders and ratify Musk’s 2018 compensation plan.

Tesla shareholder Ron Baron has backed Elon Musk’s $56 billion pay package ahead of a crucial shareholder vote.

The CEO of Baron Capital praised Musk’s “relentless drive and uncompromising standards” in an open letter, as Tesla battles to win over shareholders and ratify Musk’s 2018 compensation deal after it was struck down by a Delaware court.

The investor said that without Musk, there would be “no Tesla.”