Tesla Shareholders Approve $1 Trillion Musk Pay Package

Tesla Shareholders Approve Musks Record-Breaking Pay PackageTeslas shareholders have greenlit a colossal compensation plan for CEO Elon Musk, valued at nearly one trillion dollars. This decision, made at the companys annual meeting in Austin, Texas, comes despite advice from some proxy advisors to reject it. The package, which includes twelve tranches of shares tied to specific milestones over ten years, was strongly endorsed by Teslas board. Musk, already the worlds wealthiest person, would receive the first tranche if Teslas market cap reaches two trillion dollars, currently about one point five four trillion. This approval follows a 2020 Delaware court ruling that deemed Musks previous pay plan improper.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.