Tesla shareholders approved CEO Elon Musk’s $56 billion pay pack
Tesla shareholders approved CEO Elon Musk’s $56 billion pay package on Thursday, five months after a judge in Delaware ordered the company to rescind the package.
Musk’s compensation was one of many proposals approved by shareholders at their annual meeting in Austin, Texas.
They also agreed to relocate the company’s headquarters to Texas from Delaware, re-elected two board members, increased investor control, and lowered voting requirements to a simple majority.
Musk responded to the outcome by saying, “Hot damn, I love you guys. We have the most awesome shareholder base.” Tesla shares rose 2.9% in regular trading on Thursday to close at $182.47.