Tesla TSLA 2.92%increase; green up pointing triangle shareholders voted to reapprove Elon Musk's multibillion-dollar pay package, signaling support for the EV maker's longtime leader and giving the board ammunition in its fight to preserve the court-rejected compensation plan.
Tesla announced investors approved Elon Musk's pay package. The package, initially approved in 2018, was voided by a Delaware judge in January.
Shareholders look poised to approve a $56 billion pay package for CEO Elon Musk. The compensation package could be challenged in court again.
Tesla shareholders are suing CEO Elon Musk and members of the automaker's board of directors over Musk's decision to start xAI, which they say is a competing AI company, and then divert talent and resources from Tesla to the new startup.
Tesla shareholders are demanding that Elon Musk stop diverting AI resources away from the company. They allege in a new lawsuit that Musk has treated the company with "brazen disloyalty.
Elon Musk's army of small-investor allies took a victory lap with an endorsement for his $56 billion pay package after the Tesla CEO said shareholders were voting to approve it by a wide margin despite opposition from major institutions.
Tesla shares spiked 3.5% in early trading on Thursday after CEO Elon Musk signaled that shareholders would overwhelmingly approve his controversial $56 billion pay package, as well as his plan to relocate the company's legal headquarters to Texas.
The Tesla fans posted. And over the last few months, Elon Musk engaged.
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ARK Invest CEO Cathie Wood's go-for-broke approach to momentum investing is hurting the flagship fund this year. Numerous top holdings have tumbled.
Tesla CEO Elon Musk claimed Wednesday shareholders approved to have his stricken $50 billion pay package reinstated, a development that, if true, could open a new and uncertain legal chapter for the billionaire that could shape his personal fortune, Tesla's future, and the future of other companies he is involved with.
Tesla (TSLA) said Thursday it expects to raise prices for its Model 3 in Europe after regulators there threatened to put new tariffs on imports of electric vehicles (EVs) made in China because of that country's subsidies for its industry.