Tesla shareholders have approved Elon Musk’s massive new pay package, with over 75% voting in favor, making it the largest corporate payout in history.
The deal grants Musk 423 million new shares, raising his stake from 15% to 25%, if he meets goals like reaching an $8.5 trillion valuation, deploying 1 million robotaxis, and selling 12 million cars within 10 years.
The vote also approves moving Tesla’s legal base from Delaware to Texas, following a court ruling that voided Musk’s previous $50 billion package.
While Tesla’s board says Musk’s leadership is key to its AI and robotics ambitions, the company faces falling sales, protests and increasing competition, leaving doubts about achieving these bold targets.
Source: The Verge
