After the deal was struck down in court in January, investors will be asked to endorse it again this week
of its highly anticipated latest product. The chief executive spends a lot of time at other companies or generating controversy. How do you reward him? With a record-breaking $56bn pay deal, if Tesla gets its way at its annual meeting on Thursday.
Investors are being asked to endorse two proposals: Musk’s pay, and the relocation of Tesla’s incorporation from Delaware to Texas. Musk signalled he planned to do the latter after January’s ruling, which prompted him toTesla is likely to win approval for Musk’s remuneration, according to Dan Ives, an analyst at Wedbush and a veteran follower of the company, albeit “not by a wide margin”. Many shareholders in the company “understand the biggest asset of Tesla is Elon Musk,” Ives said.
Musk has received support from some deep-pocketed backers. “Without his relentless drive and uncompromising standards, there would be no Tesla,” the billionaire investor Ron Baroninside Tesla plants, claiming it is high time the company’s workers were handed their fair share of its profits.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Elon Musk may ‘step back’ if shareholders reject $56bn pay package, Tesla chair warnsRobyn Denholm says electric carmaker’s CEO could spend his time elsewhere if biggest pay deal in US corporate history isn’t approved
Read more »
It’s time Elon Musk faced a blunt truth about TeslaElon Musk is one of the great entrepreneurs of the century, but even he isn’t worth the biggest pay packet in history.
Read more »
It’s time Elon Musk faced a blunt truth about TeslaElon Musk is one of the great entrepreneurs of the century, but even he isn’t worth the biggest pay packet in history.
Read more »
Firms urge Tesla shareholders to reject Elon Musk's $51 billion pay packageMusk&x27;s pay package, first approved in 2018 and thrown out by a judge in January, "was considered outsized from the start".
Read more »
Tesla boss Elon Musk criticises US tariffs on Chinese electric vehiclesBillionaire makes U-turn over levies, telling Paris tech conference they distort the market and inhibit trade
Read more »
Elon Musk’s Aussie chair battles shareholders over Tesla boss’s billionsRobyn Denholm, Tesla’s Australian-born chair, is seeking to reverse a judge’s ruling regarding Elon Musk’s $56 billion pay package.
Read more »