Tesla Shareholders Reapprove Musk's $56 Billion Pay Package and Move to Texas at Annual Meeting

Jun 13, 2024, 09:15 PM

Tesla shareholders have officially re-approved CEO Elon Musk's 2018 compensation package, valued at $56 billion. Approximately 73% of shareholders voted in favor of the package. Additionally, shareholders approved the proposal to reincorporate Tesla from Delaware to Texas. This decision underscores strong support for Musk's leadership and the company's strategic direction. The reapproval follows a court decision earlier this year that had rescinded the pay package. The votes took place at Tesla's annual meeting in Austin, Texas.