Musk says Tesla shareholders voting yes for his $56 bln pay package
Musk says Tesla shareholders voting yes for his $56 bln pay package
The Facts
On Thursday, Tesla shareholders will cast their votes to approve CEO Elon Musk's $56 billion compensation package and to move the EV maker's legal headquarters to Texas. Musk expressed his gratitude in a post on X.
On Thursday, Tesla will announce the result of the shareholders vote to approve CEO Elon Musk's $56 billion compensation package and to move the EV maker's legal headquarters to Texas. Musk expressed his gratitude in a post on X on Wednesday.
The Spin
Elon Musk's $56 billion compensation from Tesla is the largest remuneration in US corporate history. Some may consider it excessive, but it's beneficial for the company. The deal ensures that Elon Musk will continue to create value for the stockholders. Without Musk, there would be no Tesla.
Disclosing vote counts before the completion of the voting process, as Elon Musk did on Wednesday, may potentially result in legal problems for Tesla if the information turns out to be wrong. The stock has risen since Musk's post on X; This could persuade people to vote your way and make those who are against you back down. Anyone who bought stock based on that information could file a securities lawsuit against Musk and Tesla.
