Tesla stockholders have overwhelmingly approved a $44.9 billion pay package for CEO Elon Musk and voted to move the company’s headquarters to Texas. The pay package was originally valued at $56 billion but has declined in value due to a drop in Tesla’s stock price. The company submitted Musk’s 2018 pay package for approval and received 73% of the vote. According to a statement from the electric car maker, “Tesla stockholders overwhelmingly approved the ratification of the 2018 CEO Performance Award and the re-domestication of the company to Texas.” In 2018, Tesla stockholders approved a 100% performance-based stock option award for Musk. At a Tesla meeting held late on Thursday, Musk reassured shareholders that he would remain with the company for the next five years. “It’s not actually cash, and I can’t cut and run, nor would I want to,” he told the stockholders.
Tesla Stockholders Approve Elon Musk’s $44.9 Billion Pay Package
