Tesla shareholders approve CEO Elon Musk’s $45bn pay package

finance
Created 6/13/2024
Updated 6/13/2024

Tesla shareholders have approved a USD45 billion pay package for CEO Elon Musk, following a heated debate over his leadership and compensation. This decision comes after a Delaware judge previously nullified Musk's USD56 billion package, citing board conflicts of interest. The approval is a victory for Musk and Tesla's board, despite opposition from major shareholders and advisory firms. Legal challenges may continue, as the board's independence and the fairness of the package remain in question. Shareholders also voted to move Tesla’s legal base from Delaware to Texas, potentially complicating future disputes.

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