This is absolutely true
And the thing is, they're not cutting a future pay package. They're voting to restore one that was actually taken away from him after the fact by a third-party (Delaware Judge)
It's actually pretty wild. Imagine winning employee of the month and then your company says "oh btw, we decided to get rid of employee of the month titles) right after you worked hard all month and won it
Many people like musk who top their fields sacrifice almost everything for their obsession/passion and deserve their rewards
Less than 0.01% of people are willing to do the same and they deserve outsized rewards!