I doubt it. He's worth $38.5 billion; $26b of that is in Tesla. He can shave off hundreds of millions of dollars from that any day of the week - if he cared to do so.
The compensation package is relatively small compared to his existing wealth already contained in Tesla. Wanting the company to succeed is what most likely motivates him, not the compensation package (which is aligned with his existing interests, even if you think he's primarily in it for the $26b (little evidence to support that, he's personally loaded with debt because he refuses to sell, that's called being all in; any good financial advisor would call it dangerous concentration and a poor choice to take on debt instead of selling)).
The compensation package is relatively small compared to his existing wealth already contained in Tesla. Wanting the company to succeed is what most likely motivates him, not the compensation package (which is aligned with his existing interests, even if you think he's primarily in it for the $26b (little evidence to support that, he's personally loaded with debt because he refuses to sell, that's called being all in; any good financial advisor would call it dangerous concentration and a poor choice to take on debt instead of selling)).