Tesla Shareholders to Vote on Musk's Historic $56 Billion Pay Package
Tesla shareholders will vote on Thursday to ratify CEO Elon Musk's $56 billion pay package, which was voided by a Delaware judge in January. The vote has spotlighted CEO compensation in corporate America, as Musk's package is tied exclusively to Tesla's market value rather than conventional salary or bonuses.
![Tesla Shareholders to Vote on Musk's Historic $56 Billion Pay Package](https://devdiscourse.blob.core.windows.net/devnews/13_06_2024_09_54_14_7509701.jpg)
Tesla shareholders will vote on Thursday on whether to ratify CEO Elon Musk's $56 billion pay package, which a Delaware judge voided in January because she found he improperly controlled the process.
The company's attempt to seek a shareholder re-vote on the record-breaking pay has put the spotlight on CEO compensation in corporate America. Unlike conventional packages, Musk's $56 billion package did not include a salary or cash bonus. Instead, it set rewards based on Tesla's market value rising to as much as $650 billion over the next 10 years from 2018. Musk said late on Wednesday that shareholders were voting by wide margins to approve the pay package.
Below is a list of total compensation of CEOs of top 10 U.S. companies on market capitalization basis:
(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)
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