“I love you guys,” says Elon Musk following his $56 billion pay contract.

0

“I love you guys,” says Elon Musk following his $56 billion pay contract.

The founder of Space X has also declared that Tesla will relocate its legal headquarters from Delaware to Texas.

Voters at Tesla restored CEO Elon Musk’s record-breaking compensation package, marking a huge victory.

"I love you guys," says Elon Musk

According to the BBC, the multibillionaire battled valiantly for the payout, which could be valued up to $56 billion (£43.9 billion).

The price of Tesla’s shares determines the precise amount.

Speaking to a gathering of shareholders who had gathered in Texas for the company’s annual meeting, Musk expressed his happiness by saying, “Hot damn, I love you guys.” We have the most amazing group of shareholders. very, it’s very amazing.”

The board has been accused of being overly obedient to Musk, which has led to harsh criticism and concerns regarding the enormous compensation package.

Though legal experts have stated that it is unclear whether a judge that halted the transaction will accept the re-vote and permit the firm to restore the pay package, the vote is not legally binding.

A managing partner at Obermayer Rebmann Maxwell and Hippel, Mathieu Shapiro, asserts that “the vote changes nothing.”

The creator of Space X also said that Tesla will relocate its legal office from Delaware to Texas after a Delaware judge, Kathaleen McCormick, ruled that the compensation package was “unfathomable” and supported a minor investor who had filed a lawsuit about the arrangement.

Tesla responded by deciding to assess the situation and soliciting support from its shareholders for a plan to reorganize the business outside of Delaware.

More News Updates

About The Author

Leave a Reply

Your email address will not be published. Required fields are marked *

Subscribe To Our Newsletter