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Home | Business | Tesla Stockholders Approve Musks 56 Billion Pay Package
Tesla stockholders approve Musk�s $56 billion pay package
Tesla Board Secures Approval for Musk's 2018 Pay Package with 73% Vote

BY IANS
UPDATED ON - 14 JUNE 2024, 04:20 PM
Tesla stockholders approve Musk�s $56 billion pay package
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San Francisco: Tesla stockholders have overwhelmingly approved the $56 billion pay
package (now valued at $44.9 billion) for the company�s CEO Elon Musk, along with
reincorporating the electric vehicle company in the US state of Texas, moving it
from Delaware.

The Tesla board won approval for Musk�s 2018 pay package with 73 per cent of the
vote, according to the company.

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The company last valued Musk�s package at $44.9 billion (in April) as Tesla�s stock
has nosedived by nearly 25 per cent this year.

�Tesla stockholders overwhelmingly approved the ratification of the 2018 CEO

Performance Award and the re-domestication of the company to Texas,� the electric
car maker said in a statement.

The stockholders gave their consent to a Tesla proposal to ratify the 100 per cent
performance-based stock option award to Elon Musk that was approved by the
stockholders in 2018.

At Tesla�s meeting late on Thursday, the tech billionaire reassured shareholders

that he will not leave the company as he can�t sell any stock for five years.

�It�s not actually cash, and I can�t cut and run, nor would I want to,� he told the
stockholders.

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