Tesla shareholders approve $56 billion pay package
The approval marks a significant win for Musk, who had campaigned for the package's reinstatement after a Delaware judge nullified it in January
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Tesla CEO Elon Musk was elated after retail investors approved his controversial $56 billion pay package during the company’s shareholder meeting in Austin, Texas.
Following the approval of his pay package, a jubilated Musk appeared on stage and said, “I just want to start off by saying, hot damn, I love you guys!”
“We have the most awesome shareholder base. I mean it’s just incredible,” Musk added.
The approval marks a significant win for Musk, who had campaigned for the package's reinstatement after a Delaware judge nullified it in January, citing flaws in the original approval process due to insufficient independent oversight.