Although the actions of tesla has fallen nearly 60% since 2021, the year in which it reached its all-time high, the company’s minority investors are fans of its CEO, Elon Musk, which is why he has approved the tycoon’s new salary, which reaches almost $60 billion dollars.
As part of the most recent shareholders meeting, it has been revealed that Elon Musk’s annual salary, at Tesla alone, has increased to $56 billion. This proposal was approved despite opposition from some large institutional investors and representation companies. Along with this, it has also been announced that the company’s headquarters will change from Delaware to Texas.
Other proposals that were approved are the re-election of two board members: Kimbal Musk, Musk’s brother, and James Murdoch, Rupert Murdoch’s son, media magnate Rupert Murdoch. Shareholders also voted to shorten board terms to one year and lower voting requirements for proposals to a simple majority.
However, everything still needs to be approved by a US judge, Therefore, it is still in doubt whether everything that was approved internally will be properly executed.. We can only wait to see what the reaction will be to all this. On related topics, Elon Musk threatens not to use Apple products. Similarly, Musk points out that WhatsApp misuses its data.
Author’s Note:
This is a lot of money for someone who has caused his company’s stock to decline in recent years. Thanks to his focus on Twitter, he no longer pays as much attention to Tesla, and many of his proposals lately have not been positive, so he does not deserve this ridiculous salary.
Via: Expansion
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