Although its action Tesla Down nearly 60% since 2021, the year it hit an all-time high, the company’s minority investors are fans of its CEO, Elon Musk, that’s why he approved the tycoon’s new salary, which reached almost $60 billion.
This was revealed as part of the shareholders’ meeting recently Elon Musk’s annual salary at Tesla alone has grown to $56 billion. The proposal was approved despite opposition from some large institutional investors and representative bodies. Along with this, it was also announced that the company’s headquarters will be shifted from Delaware to Texas.
Other proposals approved were the re-election of two board members: Kimble Musk, Musk’s brother, and James Murdoch, son of media magnate Rupert Murdoch. Shareholders also voted to shorten the board’s term to one year and a lower vote requirement for proposals to pass to a simple majority.
However, everything still needs to be approved by a US judge. So, there is still doubt whether everything approved internally will work properly.. We can only wait to see what the reaction will be to all of this. In a related matter, Elon Musk threatened not to use Apple products. Similarly, Musk mentioned that WhatsApp misuses his data.
Author’s Note:
That’s a lot of money for someone who has caused his company’s stock to plummet in recent years. Thanks to his focus on Twitter, he doesn’t pay as much attention to Tesla anymore, and many of his proposals lately haven’t been positive, so he doesn’t deserve this ridiculous salary.
Through: expansion
