Elon Musk Says a Key Group of Tesla Shareholders Back His Massive Pay Package

June 9, 2024 | by magnews24.com

The world should find out this week if Tesla shareholders reapprove a massive $56 billion pay package for CEO Elon Musk.

It’s looking more and more likely things will go Musk’s way.

He tweeted Saturday that “roughly 90%” of retail shareholders voted in favor of his compensation package. That’s a big deal because about 45% of shares available for trading, not held by insiders including Musk, are owned by retail shareholders, according to Bloomberg.

If Musk’s tally is correct, only about one in five institutional shareholders would have to vote in favor of the compensation package for it to pass.


What’s left if they can pay him that much? How much money is left for a dividend to shareholders. How much can be reinvested in the company?

Sorry but this looks more like a grab and dash.


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