Tesla’s 2024 shareholder meeting: all the news about Elon Musk’s $50 billion payday
Illustration by Alex Castro / The Verge
The vote is seen as a referendum on Musk’s leadership at Tesla during a tumultuous time for the electric automaker. 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.
Both Tesla shareholder resolutions are currently passing by wide margins!♥️♥️ Thanks for your support!! ♥️♥️ pic.twitter.com/udf56VGQdo— Elon Musk (@elonmusk) June 13, 2024
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.
Musk has threatened to remove Tesla’s work on AI and robotics if he doesn’t receive a larger share of the company’s stock. And Tesla’s board has implied that he could leave the company altogether if the pay package isn’t approved.
Illustration by Alex Castro / The Verge
The vote is seen as a referendum on Musk’s leadership at Tesla during a tumultuous time for the electric automaker.
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.
Both Tesla shareholder resolutions are currently passing by wide margins!
♥️♥️ Thanks for your support!! ♥️♥️ pic.twitter.com/udf56VGQdo
— Elon Musk (@elonmusk) June 13, 2024
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.
Musk has threatened to remove Tesla’s work on AI and robotics if he doesn’t receive a larger share of the company’s stock. And Tesla’s board has implied that he could leave the company altogether if the pay package isn’t approved.