Reported 6 months ago
Scottish Mortgage Investment Trust, a Tesla investor, announced plans to continue supporting CEO Elon Musk's $56 billion pay package at their upcoming annual shareholder meeting. The trust had previously agreed to the package set in 2018 and believes it should be paid out, despite a Delaware judge previously rejecting it. Musk's compensation is tied to Tesla's market value reaching up to $650 billion over the next decade, with the company's market value currently at $574 billion. Tesla's chair, Robyn Denholm, has been actively engaging with shareholders to secure their vote for the approval of Musk's pay deal. However, the trust is still deliberating on Musk's decision to incorporate Tesla in Texas.
Source: YAHOO