Tesla shareholders have voted to reinstate CEO Elon Musk’s pay package

Tesla shareholders have voted to reinstate CEO Elon Musk’s pay package

Tesla shareholders have voted to reinstate CEO Elon Musk's pay package - worth up to $56 billion. It's the largest pay deal in corporate US history, but was struck down by a judge in January, citing its size. Toni Waterman has more from outside the Tesla gigafactory in Austin, where the vote took place.

June 14, 2024 51

World

Why Elon Musk’s ‘self-driving’ of Tesla’s board and its decision to pay him $56B collided with the law – and what happens next

By Justin P. Klein, University of Delaware Delaware Chancery Court Judge Kathaleen St. Jude McCormick has blocked Elon Musk’s US$55.8 billion pay package, which Tesla’s board of directors approved in 2018 through a process she found to be “deeply flawed.” No CEO of a publicly traded U.S. company has ever been paid this much for one year’s work, according to Equilar, which tracks corporate leadership data. Pay […]

February 6, 2024 5