A vote in the tech entrepreneur's favour will not mean that he gets his hands on the awards as it remains subject to a legal ruling.
Elon Musk has claimed a 'wide margin' of support among Tesla shareholders for a $56bn pay package due to him but which was blocked by a court. A new shareholder vote was ordered after a judge in Delaware ruled in January that the 2018 awards had effectively been controlled by the billionaire, as the board had close personal and financial ties to Tesla's founder and chief executive.
Texas governor Greg Abbott responded: 'Welcome to a state that has neither a personal nor a corporate income tax.' The results are due to be declared on Thursday night. While Musk is confident of winning the day, there has been opposition. Major proxy firms Glass Lewis and Institutional Shareholder Services had urged shareholders to reject the pay package. Large investors who declared opposition included Norway's sovereign wealth fund.
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