How Tesla Shareholders Upheld Elon Musk’s Sky-High PayTesla shareholders on Thursday voted to reaffirm a roughly $48 billion compensation package for Elon Musk, which was originally approved in 2018 and was nullified by a judge early this year.
Mr. Musk’s pay package helped him become one of the richest people in the world.
Thursday’s vote arose from a court case in Delaware, where the company is incorporated, that voided Mr. Musk’s pay package.
California Public Employees’ Retirement System, or CalPERS, the largest pension fund in the United States, also opposed the pay package.
The debate about Mr. Musk’s compensation raised questions about the limits of executive compensation and the accountability of Silicon Valley billionaires whose wealth gives them vast influence.
Persons:
Elon Musk, Elon, Kimbal, Tesla, Musk, Eli Lilly, Nvidia Berkshire Hathaway Apple Tesla, Bernstein
Organizations:
Tesla, Elon, Sky, The New York, Mr, Norges Bank Investment Management, California Public, Broadcom, Chase Amazon, Nvidia Berkshire, The New York Times, Silicon, SpaceX, Fortune
Locations:
Delaware, United States, Texas, Austin