Tesla Shareholders Approve Elon Musk's $56 Billion Pay Package | Subscribe to Firstpost
Tesla shareholders have approved CEO Elon Musk's $56 billion pay package that was thrown out by a US judge earlier this year. The proposal passed amid opposition from some large investors. While the approval highlights Musk's popularity among retail investors, it does not resolve an ongoing lawsuit over the pay package. The Delaware court had previously invalidated the pay package, calling it "unfathomable." Legal experts expect further legal scrutiny, where the judge may require Tesla to prove the vote was not coerced or influenced by Musk. Additionally, during the meeting, Tesla shareholders approved moving the firm's legal home to Texas from Delaware and re-elected board members Kimbal Musk and James Murdoch.
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