Tesla shares up after Elon Musk says he is set for victory in $56 billion pay vote
Publishing timestamp: 2024-06-13 10:57:06
Summary
Elon Musk announced that Tesla shareholders are likely to approve his $56 billion pay package and the resolution to move the company's incorporation to Texas. Critics argue the compensation is too big and that Musk is distracted by his other ventures, while supporters believe he is crucial to Tesla's success. The resolutions are currently passing by wide margins, but may face legal challenges. Critics point out Tesla's slowing growth and increased competition, while supporters argue that Musk is incentivized by the pay package. Major investors like Vanguard and BlackRock have not disclosed how they will vote.
Sentiment: MIXED
Tickers: TSLA,
Keywords: science, shareholder meetings, climate, elon musk, breaking news: markets, breaking news: technology, autos, electric vehicles, tesla inc, business news, transportation, technology,