Elon Musk has reclaimed his $44.9 billion pay package at Tesla, as shareholders voted to reinstate the deal in a show of support for his leadership. The decision, made at Tesla’s annual meeting, followed a previous ruling in Delaware that had invalidated the compensation agreement due to concerns over the board’s close connection to Musk.
Despite uncertainties surrounding the actual payout, Musk expressed gratitude to shareholders, calling them an “awesome base”. The controversial pay deal, valued at $56 billion at one point, rewards Musk with stock for achieving operational and financial milestones at Tesla.
Although Tesla’s success under Musk’s guidance is undeniable, challenges lie ahead, including slowing sales and competition in the EV market. The entrepreneur has faced criticism for his diverse business ventures and political views.
Ultimately, Tesla’s shareholders also approved the company’s relocation to Texas and reaffirmed Kimbal Musk and James Murdoch on the board. The future remains uncertain, but Musk, as the largest shareholder, continues to steer Tesla towards its goals.