Musk’s Friends and Fans Applaud Shareholder Vote on His Payday

Musk’s Friends and Fans Applaud Shareholder Vote on His Payday Leave a comment

Tesla shareholders reaffirmed a pay award price greater than $45 billion for Elon Musk on Thursday, however earlier than the announcement was made official on the firm’s annual assembly in Austin, Texas, Mr. Musk posted the information on X, his social media platform.

“Each Tesla shareholder resolutions are at present passing by broad margins!” he wrote in a post late Wednesday evening. “Thanks on your help!!”

For months, Mr. Musk’s supporters have used the social media web site, which he bought for $44 billion in 2022, to drum up help for his huge payday, and Tesla board members warned he may depart the corporate if shareholders voted in opposition to him.

However for some Tesla traders, Mr. Musk’s involvement with X has been the first reason behind concern, stirring complaints that the pay bundle has drawn his consideration away from Tesla and into different ventures. Mr. Musk has additionally used the platform to advertise right-wing conspiracy theories and vulgar content material, offending a few of his workers and traders.

On X, shareholder approval of the pay bundle was met with reward from Mr. Musk’s legion of supporters — some cheering earlier than the official vote was introduced. They included retail traders, mates within the know-how trade and media personalities.

“Congrats on getting paid what you’re owed E!” wrote Jason Calacanis, a outstanding tech investor and podcast host who’s near Mr. Musk.

“Crucial message of the vote,” wrote Alex Voigt, a blogger and YouTube persona, “is that Elon is aware of now he has the help of 90% of retail traders and greater than 73% of all shares, and that issues for him personally and for the way forward for Tesla.”

“Means loads,” Mr. Musk replied.

“Appears to be like like Tesla shareholders are approving Elon’s CEO bundle by a large margin — good for them,” wrote Lulu Cheng Meservey, a tech govt with 80,000 followers on the platform. “Folks with precise pores and skin within the recreation can see the enterprise logic {that a} Delaware decide blinded by her private agenda couldn’t.”

“The overwhelming majority of Tesla shareholders accepted Elon’s comp bundle in 2018 and have re-approved it now. An activist decide voided it for nothing. The trial legal professionals who’re asking for billions in charges ought to get nothing,” wrote David Sacks, a Silicon Valley tech investor, who can also be near Mr. Musk.

Critics of Mr. Musk additionally chimed in, albeit in smaller numbers.

“It’s official — Tesla shareholders are the stupidest people to stroll the face of the planet,” one poster wrote.

However many Tesla shareholders who had been crucial of the pay bundle within the weeks main as much as the vote had been principally silent within the hours after the choice.

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