Elon Musk will pocket $56 billion after Tesla shareholders made a show of support for his leadership.
Under CEO Elon Musk , Tesla has been credited with revolutionizing the auto industry, jumpstarting the electric revolution, and racking up billions in profit in the process. Now Musk is set for a record payday worth almost $50 billion, after the electric car company’s shareholders approved a compensation plan that had been previously blocked by a federal judge.
Slower car sales, increased competition in the electric car market, and a pivot to robotics and autonomous vehicle technology have left some shareholders confused about the future of Tesla. In a letter published before the vote, the proxy advising firm Glass Lewis said it was concerned that the compensation package would give Musk too much power over Tesla by making him the company’s largest shareholder “by a healthy margin.
Elon Musk Electric Vehicles Stocks Evs And Hybrids
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