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Tesla Shareholders Approve $48 Billion Pay to CEO, Elon Musk

The Digital Artisan

Jun 14, 2024 — 1 min read

Tesla Shareholders Vote on $48 Billion Pay Package

Last night, shareholders in Tesla, where Elon Musk is CEO, voted to approve the pay deal for his 2018 stock options which is now worth around $48 billion. The award, initially valued at $56 billion, was disputed earlier this year when a Delaware judge questioned the package's value and Musk's influence over the board.

Musk's Personal Companies Concern Investors

The shareholders, which include an unusually high ratio of retail investors, are mindful of Musk's involvement in other ventures like SpaceX, social media platform X, brain implant company Neuralink, and AI company xAI. Some feel his divided interest might affect his leadership at Tesla.

Relocating Tesla's Legal Headquarters to Texas

In another turn of events, shareholders also agreed to Musk's proposal to move Tesla's legal headquarters from Delaware to Texas. Despite the various investor concerns, Musk was enthusiastic about the support he received, expressing his excitement during a broadcast.

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