Tesla shareholders on Thursday approved a whopping $1 trillion compensation plan for CEO Elon Musk, awarding the world’s richest person the largest corporate payout in history.
Tesla shareholders on Thursday approved a whopping $1 trillion compensation plan for CEO Elon Musk, awarding the world’s richest person the largest corporate payout in history. Musk will be eligible for the pay package if he meets the necessary goals laid out by the electric vehicle company earlier this year.
The package has been opposed by several high-profile investors in the past. Hence, its approval indicates that shareholders still believe Musk can lead automakers in an era dominated by robotics and artificial intelligence. According to The Guardian, the result of the voting was announced at the annual shareholder event in Austin, Texas, on Thursday.
As per the report, more than 75 per cent of investors voted in favour of Musk’s pay package. Not only this, chants of “Elon” erupted in the room at the news of its approval. “Thanks, guys,” Musk said, after briefly dancing on stage alongside the company’s Optimus robots.
Source:First Post