Elon Musk emerged victorious on Thursday as Tesla (TSLA) shareholders voted to approve his $56 billion compensation package, as well as a proposal to move the company's incorporation to Texas.
At Tesla's 2024 annual shareholder meeting, CEO Elon Musk claimed humanoid robots could lift the company's market cap to $25 trillion at an unspecified future date. As of Thursday's close, Tesla had a market cap of about $580 billion.
Tesla won investor approval for Elon Musk's compensation, but it won't be reinstated just yet. Musk's pay plan, initially approved in 2018, was voided by a Delaware judge in January.
A Canadian resident of China pleaded guilty in New York federal court on Thursday to stealing Tesla electric-vehicle battery manufacturing trade secrets and conspiring to sell them to undercover government agents, according to the U.S. Department of Justice (DOJ).
Electric vehicle leader Tesla Inc TSLA hosted its annual shareholders meeting Thursday, June 13 with a limited in-person event that was also livestreamed to the public.
Tesla shareholders voted to approve billionaire CEO Elon Musk's roughly $50 billion pay package at the company's annual shareholder meeting Thursday, as the electric vehicle maker still seeks to appeal a Delaware judge's decision to void the record-setting deal earlier this year, which for now still holds up the package.
Tesla shareholders voted to reinstate CEO Elon Musk's $56 billion pay package that had been voided by a Delaware judge and also approved the reincorporation of the company in Texas.
Tesla CEO Elon Musk has secured enough shareholder votes to have his 2018 stock option compensation package approved. Shareholders also approved the company's decision to re-incorporate of Tesla in Texas, moving it away from the state where Musk's pay package was struck down: Delaware.
Electric vehicle leader Tesla Inc TSLA hosted its annual shareholders meeting Thursday, June 13 with a limited in-person event that was also livestreamed to the public.
Tesla shareholders vote to ratify CEO Elon Musk's 2018 pay package, after a Delaware judge rescinded it in January. At the annual meeting in Austin, Texas, shareholders were asked to vote on a dozen proposals.
Billionaire fought to retain largest-ever compensation package granted to an executive at a US-listed company
The vote was seen as a referendum on his management of the electric car maker and on the limits of executive pay.