Tesla Shareholders Reaffirm Elon Musk's Mammoth Pay Package Amid Legal Battles

Tesla shareholders have backed CEO Elon Musk's USD 44.9 billion pay package despite legal hurdles. The compensation plan faces delays due to ongoing court battles in Delaware. Musk's continued leadership aims to navigate falling sales and autonomous vehicle innovations. Shareholders' vote showcases confidence in Musk amid company challenges.

Tesla shareholders voted Thursday to reinstate CEO Elon Musk's record USD 44.9 billion pay package, which a Delaware judge had previously invalidated. This vote reflects strong confidence in Musk's leadership at the world's largest electric vehicle maker.

Musk is unlikely to receive the all-stock compensation soon, as the package is embroiled in legal disputes within the Delaware Chancery Court and Supreme Court. Tesla is attempting to overturn the judge's decision that deemed the package invalid.

Despite Tesla facing challenges such as declining sales and profit margins amid global EV market slowdowns, Musk reassured shareholders at the annual meeting in Austin, Texas, that he remains committed to the company and cannot sell any stock from the package for five years.

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