Elon Musk’s $45 Billion Pay Package Approved by Tesla Shareholders
In a surprising turn of events, Tesla shareholders have reaffirmed a pay award worth more than $45 billion for CEO Elon Musk. The decision was made official at the company’s annual meeting in Austin, Texas, but Mr. Musk had already hinted at the outcome on his social media platform, X.
“Both Tesla shareholder resolutions are currently passing by wide margins!” Musk posted late Wednesday night. “Thanks for your support!!”
For months, Musk’s supporters have been rallying behind him on X, the social media site he purchased for $44 billion in 2022. The platform has been instrumental in drumming up support for his massive payday, with Tesla board members warning that he could leave the company if shareholders voted against him.
However, not everyone is pleased with Musk’s involvement with X. Some Tesla investors have expressed concerns that the pay package has diverted his attention away from the company and into other ventures. Musk has also courted controversy on the platform by promoting right-wing conspiracy theories and vulgar content, which has offended some employees and investors.
Despite the criticism, shareholder approval of the pay package on X was met with praise from Musk’s loyal supporters. Prominent figures in the tech industry, media personalities, and retail investors all voiced their support for the decision.
“The most important message of the vote is that Elon knows now he has the support of 90% of retail investors and more than 73% of all shares, and that matters for him personally and for the future of Tesla,” wrote one supporter on X.
Critics of Musk also made their voices heard, with one poster calling Tesla shareholders “the stupidest humans to walk the face of the planet.” However, many of those who were critical of the pay package leading up to the vote remained silent after the decision was announced.
Overall, the approval of Elon Musk’s $45 billion pay package has sparked a mix of reactions from Tesla shareholders, highlighting the polarizing nature of the CEO’s leadership and the impact of social media on corporate decision-making.
