Tesla shareholders are voting on Elon Musk’s gigantic $50 billion pay package, which is seen as a sign as to whether the controversial CEO will stay at the company.
Tesla’s 2024 shareholder meeting is a bit different than meetings past. Investors are being asked to weigh in on the question of Elon Musk’s massive pay package, which is estimated to be as high as $50 billion. But it isn’t the first time shareholders have voted on whether to approve Musk’s unusual compensation package. Earlier this year, a Delaware court judge voided his $56 billion pay in response to a shareholder lawsuit.
Shareholders will also vote on proposals to move Tesla’s legal home from Delaware to Texas and to reappoint two board members: James Murdoch and Kimbal Musk, Elon’s brother. The vote is widely seen as a referendum on Musk’s tumultuous leadership at Tesla. Retail investors widely support Musk, while some institutional shareholders have said they would oppose the plan, calling it excessive.
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