After the initial Tesla pay package was thrown out, shareholders finally voted on it again…
And Elon Musk is closer to getting his biggest payout than ever.
Despite the success of the vote…
Many experts are left to question whether the most valuable pay package in corporate America will actually go through or not.
Elon Musk And Tesla Pay Controversy
Shareholders re-approved the 330 million in stock options within CEO, Elon Musk’s Tesla pay package.
Musk, who is already the richest man in the world, with a net worth of over $210 billion, stands to gain over…
$47 BILLION IN STOCKS AT THE COMPANY
Shareholders also voted to reincorporate Tesla HQ in Texas, where the business regulations are more lax.
The only downside to this news? The Tesla pay package has to be appealed in Delaware courts…
Where it was first rejected.
To jog your memory, Musk’s billion-dollar compensation package was first tossed out in January…
When Delaware Chancery Court Chancellor Kathleen McCormick rejected the compensation…
She stated that the pay package Tesla was awarding was unfair to shareholders and that due to the stock options Musk currently has in the company…
He is already receiving enough compensation.
Both Musk and Tesla agree that the company would be just as successful without him as CEO…
But his ability to be CEO accelerates that success.
Musk has stated that he does not intend to keep growing the company as an industry leader in both car manufacturing and artificial intelligence…
If he does not receive compensation or pay from Tesla.
Pay Day
For over a year, Musk has been working for free.
While Tesla die-hards are eager to see what he does to advance car technology (and pull the company out of the slump it found itself in)…
The fate of the company and Musk’s leadership in it still has to fight one final showdown…
And it takes place in a courtroom in Delaware.
Be Great,
GCTV Staff
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