Tesla shareholders on Thursday reconfirmed a payout for Elon Musk worth more than $45 billion, but before the announcement was made official at the company’s annual meeting in Austin, Texas, Mr. Musk posted the news on X, its social media platform.
“Both Tesla shareholder resolutions are currently approved with a large majority!” he wrote in a post late on Wednesday evening. “Thanks for your support!!”
For months, Mr. Musk’s supporters have used the social media site, which he bought for $44 billion in 2022, to drum up support for his huge payday, and Tesla board members warned he could leave the company, if the shareholders voted against him.
For some Tesla investors, however, Mr. Musk’s involvement in Mr. Musk has also used the platform to spread right-wing conspiracy theories and vulgar content, thereby alienating some of his employees and investors.
Among them were retail investors, friends from the technology industry and media personalities.
“Congratulations on getting what you deserve. E!” wrote Jason Calacanis, a well-known technology investor and podcast host who is close to Mr. Musk.
“The most important message from the vote,” wrote Alex Voigt, blogger and YouTube personality, “is that Elon now knows he has the support of 90% of retail investors and more than 73% of all stocks, and that is important to him .” personally and for the future of Tesla.”
“Means a lot,” Mr. Musk replied.
“It looks like Tesla shareholders overwhelmingly approve of Elon’s CEO package — good for them,” wrote Lulu Cheng Meservey, a technology executive with 80,000 followers on the platform. “People who actually engage in the game can see the business logic that a Delaware judge blinded by her personal agenda could not.”
“The vast majority of Tesla shareholders approved Elon’s compensation package in 2018 and have now reapproved it. An activist judge overturned it without cause. The trial lawyers demanding billions of dollars in fees should get nothing,” wrote David Sacks, a Silicon Valley tech investor who is also close to Mr. Musk.
Critics of Mr. Musk also weighed in, although in smaller numbers.
“It’s official – Tesla shareholders are the stupidest people ever,” one poster wrote.
But many Tesla shareholders who were critical of the pay package in the weeks before the vote remained mostly silent in the hours after the decision.
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2024-06-15 02:13:45
www.nytimes.com
