Elon Musk has successfully regained his $44.9 billion compensation package at Tesla, following a decisive shareholder vote at the company’s annual meeting.
The vote comes after a US judge previously invalidated the deal, citing concerns about the board’s close ties to Musk and lack of shareholder protection.
Appearing on stage after the vote, an overjoyed Musk exclaimed, “I just want to start off by saying, hot damn, I love you guys! We have the most awesome shareholder base. I mean it’s just incredible.”
The reinstated pay package, once valued at $56 billion during Tesla’s stock price peak in late 2021, has since decreased by about 25% due to a drop in the company’s stock value.
