Tesla shareholders have voted in favor of Elon Musk’s $56 billion compensation package and supported the decision to move the company’s state of registration to Texas. This was reported by Bloomberg.
The vote on the payment is only advisory and does not guarantee that Musk will receive the money. Tesla will now appeal the Delaware judge’s decision to cancel the payment. If the appeal is unsuccessful, the company’s relocation to Texas will still allow it to resume the payment.
The payout was first announced in 2018 and was supported by 73% of votes in favor. This gave the billionaire the right to receive stock options worth $55.8 billion if Tesla reaches certain targets. The current value of the options was closer to $48.4 billion.
When Musk was asked what he was going to do with his billions, he noted that the payout consisted of options and that he would have to hold Tesla shares for five years.
“I can’t cut and run, nor would I want to,” he said.
In addition, during a meeting with shareholders, Elon Musk hinted that the company is working on three new models and showed an image of a car under white sheets. The businessman also said that Tesla’s network of superchargers is growing and that he has just approved plans to increase production of a semi-truck.
Among other things, Musk said that Cybertruck’s production volume has reached a record high of 1,300 units per week. He also noted that people used to say that Cyberturkc was a fake, but now the company delivers thousands of vehicles every week.
At the same time, shareholders also sued Musk for creating xAI, an artificial intelligence company that could compete with Tesla.
On the eve of this vote, shareholders were also warned that if they did not vote to pay Musk compensation, he might leave the company.
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