Tesla Shareholders Approve Musk's $56 Billion Pay Package

Tesla Shareholders Approve Musk's $56 Billion Pay Package

Board Chair Denholm: Pay Package Necessary for Retaining and Motivating Musk

  • Shareholder vote shows confidence in Musk's leadership despite challenges
  • Pay package is the largest in U.S. corporate history and faced legal challenges
  • Musk has threatened to build AI and robotics products outside of Tesla if he does not gain enough voting control

Approve or Not: Shareholder Vote Results

Proposal Votes For Votes Against
Approve Musk's $56 Billion Pay Package 90% 10%
Move Company's Legal Home to Texas 85% 15%
Re-elect Kimbal Musk as Board Member 92% 8%
Re-elect James Murdoch as Board Member 88% 12%

Legal Battles Still Await

  • Delaware judge who ruled against the package criticized Tesla's board for being "beholden" to Musk
  • Tesla's board held the shareholder vote to bolster its appeal of the ruling
  • Musk may face fresh lawsuits over Thursday's vote on the package

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