If they approve an all-stock compensation package for Musk that was thrown out this year by a Delaware judge, it would almost guarantee he would remain at the company.

Tesla shareholders voted Thursday to restore CEO Elon Musk’s record $44.9 billion pay package that was thrown out by a Delaware judge earlier this year, sending a strong vote of confidence in his leadership of the electric vehicle maker.

The favorable vote doesn’t necessarily mean that Musk will get the all-stock compensation anytime soon. The package is likely to remain tied up in the Delaware Chancery Court and Supreme Court for months as Tesla tries to overturn the Delaware judge’s rejection.

Musk has raised doubts about his future with Tesla this year, writing on X, the social media platform he owns, that he wanted a 25% stake in the company in order to stop him from taking artificial intelligence development elsewhere. The higher stake is needed to control the use of AI, he has said.

  • SeaJ@lemm.ee
    15·
    6 months ago

    It’s stock so it was valued at $56 billion when it was initially blocked. Now it is valued at $44 billion.