Tesla Shareholders Approve Billion-Dollar Plan

Written by Camilla Jessen

Jun.13 - 2024 7:36 AM CET

Tesla shareholders give a major vote of confidence to Elon Musk.

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Tesla shareholders have approved a $56 billion compensation package for CEO Elon Musk.

The approval was confirmed at Tesla's annual general meeting by a large majority, as announced by Musk on his social media platform, X. He expressed gratitude to the shareholders for their support.

A source familiar with the preliminary count confirmed to Reuters that the shareholder resolutions on Musk's compensation and Tesla's move to Texas were approved by a large majority.

The approval of Musk's compensation is seen as a vote of confidence from investors.

The package had previously been overturned by a court.