‘I love you guys!’: Elon Musk lands $44.9bn pay deal after Tesla vote
Al Jazeera
Musk hails ‘awesome shareholder base’ after vote to restore compensation deal rejected by US judge.
Elon Musk has won back his $44.9bn pay package at electric carmaker Tesla after shareholders voted to restore the compensation deal in a ringing endorsement of his leadership.
The vote at Tesla’s annual meeting on Thursday came after a judge in the US state of Delaware threw out the deal after finding that the company’s board was too close to Musk and had not protected shareholders’ interests.
“I just want to start off by saying, hot damn, I love you guys!” a jubilant Musk said as he appeared on stage after the vote.
“We have the most awesome shareholder base. I mean it’s just incredible.”
Musk’s pay deal was valued at about $56bn at the peak of Tesla’s share price in late 2021 but has since declined in value by about one-quarter in tandem with a drop in the company’s stock price.
