Electric car company Tesla’s shareholders voted today to reinstate CEO Elon Musk’s gigantic bonus package.
Tesla shareholders voted for a CEO today Elon Musk’s for the giant bonus package after it was invalidated by a Delaware court, a company official said Thursday, according to the AFP news agency.
Based on the preliminary voting results, investors support a bonus of up to 56 billion dollars, or about 52 billion euros, for Musk, said the company’s secretary Brandon Ehrhart At Tesla’s annual meeting in Austin, Texas.
At the annual meeting, the shareholders also approved the company’s move from Delaware to Texas.
The bonus dispute dates back to 2018, since then the reward has been disputed and legal proceedings have been taken. One of Tesla’s shareholders previously challenged the bonus, and a Delaware state court overturned the bonus arrangement in January.
A US law professor reviews news agency Reutersthat even if shareholders approve the bonus arrangement, a Delaware court may still reject it.