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  5. Tesla Shareholders Vote on Elon Musk's Massive Pay Package

Tesla Shareholders Vote on Elon Musk's Massive Pay Package

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Tesla shareholders have approved a massive compensation package for CEO Elon Musk, worth up to $56 billion. The package was originally approved in 2018 but was struck down by a Delaware court in January 2024. Despite this, investors voted in favor of the plan again on Thursday, with preliminary results showing that they backed the proposal. However, legal experts note that this vote does not automatically mean Musk will receive the payout, as the lawsuit is still ongoing in a Delaware court.

1 / 2
  1. US
    Kathaleen Mccormick
    Delaware Court of Chancery
    1. Swept up by the rhetoric of 'all upside,' or perhaps starry eyed by Musk's superstar appeal, the board never asked the $55.8 billion question: Was the plan even necessary for Tesla to retain Musk and achieve its goals?
  2. US
    Tesla
    1. The [Tesla board] special committee and its advisers noted that they could not predict with certainty how a stockholder vote to ratify the 2018 CEO performance award would be treated under Delaware law in these novel circumstances.
  3. US
    Elon Musk
    SpaceX
    1. If I wasn't optimistic, this wouldn't exist, this factory wouldn't exist.
    2. We have the most awesome shareholder base. I mean it's just incredible.
    3. I just want to start off by saying, hot damn, I love you guys.
    4. Both Tesla shareholder resolutions are currently passing by wide margins!
  4. US
    Charles Elson
    University of Delaware
    1. Anytime you tell people you're winning, you're encouraging others to join you and those who oppose you to pull back.
  5. US
    Dan Ives
    Wedbush Securities
    1. In a nutshell, if this proposal went south a lot of bad things and scenarios could have happened including Musk beginning a path to not being CEO of Tesla.

Tesla

  1. Tesla sales drop 13% in first quarter as Elon Musk backlash and aging models hurt demand
  2. Tesla dealerships targeted in series of attacks across the US with FBI investigating the incidents
  3. Donald Trump purchases a Tesla vehicle from Elon Musk during a meeting at the White House

sources

  1. 1.The Times
  2. 2.CNA News
  3. 3.France 24
  4. 4.CTV News
  5. 5.Ars Technica
  6. 6.Al Jazeera
  7. 7.BBC
  8. 8.ABC News (Australia)
  9. 9.Le Monde
  10. 10.Financial Times
  11. 11.Reuters
  12. 12.Wall Street Journal

perspectives

  1. 1.US under Donald Trump
  2. 2.US Economy
  3. 3.Tech industry
  4. 4.Lawsuit
  5. 5.Billionaire
  6. 6.Twitter Takeover by Elon Musk
  7. 7.US-EU relations
  8. 8.Protectionism
  9. 9.Electric Cars
  10. 10.China-EU Relations
  11. 11.Automotive industry

countries

  1. 1.AustraliaAU
  2. 2.ChinaCN
  3. 3.United StatesUS

organizations

  1. 1.TeslaUS
  2. 2.Twitter/XUS
  3. 3.SpaceXUS
  4. 4.xAI
  5. 5.Baron Capital
  6. 6.California State Teachers' Retirement System
  7. 7.CalSTRS
  8. 8.Columbia Law School
  9. 9.Georgetown UniversityUS
  10. 10.California Public Employees' Retirement System
  11. 11.US Securities and Exchange CommissionUS
  12. 12.Norges Bank Investment Management

persons

  1. 1.Elon MuskUS
  2. 2.Kathaleen MccormickUS
  3. 3.James Murdoch
  4. 4.Rupert Murdoch
  5. 5.Robyn Denholm
  6. 6.Kimbal MuskUS
  7. 7.Brandon Ehrhart
  8. 8.Ron Baron
  9. 9.Chris Ailman
  10. 10.Dorothy Lund
  11. 11.Gregory Varallo
  12. 12.Jason Schloetzer

technicals

  1. 1.HiLux
  2. 2.International Space Station
Tesla Shareholders Vote on Elon Musk's Massive Pay Package