Tesla Launches Website to Convince Shareholders to Vote for Elon’s $55 Billion Payday
Tesla has launched a new website aimed at convincing shareholders to vote for reinstating Elon Musk’s $55 billion
Electrek 5:47 am on May 5, 2024
The text is about a lawsuit filed against Tesla's board of directors over Elon Musk's compensation package. The plaintiffs argued that the process was biased towards Musk and not in the best interest of Tesla shareholders. The judge ruled in favor of the defendants, finding that the compensation committee lacked independence and objectivity, and Musk had undue influence over the process.
- Plaintiffs filed a lawsuit against Tesla's board of directors over Elon Musk's compensation package
- Judge ruled in favor of plaintiffs, finding that Musk had undue influence and the committee lacked independence
- Compensation plan allowed Musk to earn stock options worth up to $56 billion based on Tesla's market capitalization
- Judge criticized the process for being unfair and not in the best interest of shareholders
- Musk and his brother, Kimbal Musk, are up for re-election in the upcoming shareholder vote along with other board members
https://electrek.co/2024/04/18/tesla-launches-website-convince-shareholders-vote-elon-55-billion-payday/