Tesla Shareholders Approve Elon Musk's $1 Trillion Compensation Package
By
Andrew J. Hawkins
If you only eat one bagel today, this is the bagel.
Summary
Tesla shareholders have approved Elon Musk's massive new compensation package, estimated to be worth up to $1 trillion, with over 75% of shares voting in favor. The vote represents a significant show of confidence in Musk's leadership during a period of transition for the electric vehicle company. The approval grants Musk unprecedented control over Tesla and constitutes what is believed to be the largest corporate payout in history.
Key quotes
· 4 pulledTesla shareholders voted Thursday to approve Elon Musk's staggering new pay package, in a move aimed at retaining the controversial CEO's leadership during a time of great upheaval for the automaker.
Over 75 percent of shares voted in favor of the proposal.
The vote gives Musk enormous sway over his electric vehicle company, as well as awards him with the largest corporate payout in history.
Musk took the stage at the shareholder meeting in Austin to chants of 'Elon! Elon!'
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