Reported 7 months ago
Tesla held a shareholder meeting at their Austin factory in Texas where retail investors voted to approve CEO Musk's extravagant $56 billion compensation plan. This support at the meeting doesn't guarantee Musk will receive the high compensation, as a Delaware court ruled the plan invalid in January, requiring Tesla to convince the judge to overturn the decision. Musk, who called himself 'optimistically diseased', described his optimism as essential for Tesla's existence at the meeting, though the outcome won't affect the court ruling. The detailed voting results of the shareholders' meeting are expected to be announced in the coming days, with Musk threatening in January to move AI and robot production out of Tesla if the compensation plan is not approved.
Source: YAHOO