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Home » World » Tesla Shareholders to Vote on Musk’s Historic $56 Billion Pay Package

Tesla Shareholders to Vote on Musk’s Historic $56 Billion Pay Package

The company's attempt to seek a shareholder re-vote on the record-breaking pay has put the spotlight on CEO compensation in corporate America.

By Newsd
Published on :
Tesla plans cheaper $25,000 electric car within 3 years: Musk

Tesla shareholders will vote on Thursday on whether to ratify CEO Elon Musk’s $56 billion pay package, which a Delaware judge voided in January because she found he improperly controlled the process.

The company’s attempt to seek a shareholder re-vote on the record-breaking pay has put the spotlight on CEO compensation in corporate America. Unlike conventional packages, Musk’s $56 billion package did not include a salary or cash bonus. Instead, it set rewards based on Tesla’s market value rising to as much as $650 billion over the next 10 years from 2018. Musk said late on Wednesday that shareholders were voting by wide margins to approve the pay package.

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