Tesla’s 2024 shareholder meeting: all the news about Elon Musk’s $50 billion payday – The Verge

Whatever Elon wants, Tesla gets

2024-06-14T12:53:17-04:00

I generally find Elon Musk useful, in that he makes it clear which things in America are actually hard boundaries (contract law, maybe copyright law) and which are merely conventions (most everything else). You can take ketamine, smoke weed, ask your subordinates to have your babies, and run your companies like your own personal fiefdom; if you are wealthy and powerful enough, no one can stop you.

Musk is entwined with his companies in a particularly unusual way. In the case of Tesla, he is probably responsible for its survival in a dicey period following the 2008 financial crisis. His involvement and fame have allowed Tesla to save signif …

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Let’s speculate wildly about Tesla’s three mystery vehicles

2024-06-14T10:45:50-04:00

Tesla’s current and future vehicle lineup. | Image: Tesla

Tesla CEO Elon Musk teased three new vehicles during his presentation at the company's annual shareholder meeting on Thursday - one more than what he showed off during the Master Plan Part 3 event last year.

In a slide showing the company's current lineup - Models S, X, 3, Y, the Tesla Semi, and Cybertruck - three shrouded vehicles were also included.

"Obviously we've got some new products that we're working on under the covers," Musk said. "I think these are going to be pretty special."

"Obviously we've got some new products that we're working on under the covers."

And that was basically it. No other details were divulged. Sure, Musk was …

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Tesla shareholders approve Elon Musk’s massive pay package — was there ever any doubt?

2024-06-13T17:10:02-04:00

Tesla shareholders voted today to reapprove Elon Musk's gigantic pay package, after a Delaware court judge voided it earlier this year. Investors also approved a proposal to move the company's legal home from Delaware to Texas and to reappoint two board members: James Murdoch and Kimbal Musk, Elon's brother.

The vote was widely seen as a referendum on Musk's leadership during a time of great upheaval for Tesla, which has seen its stock price slide on news of shrinking sales, softening demand, and declining revenue. The company has laid off at least 10 percent of its workforce, its vehicle lineup is aging and in need of a shake-up, and the s …

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How to watch Tesla’s annual stockholder meeting

2024-06-13T10:53:43-04:00

Tesla is holding its annual shareholder meeting in Austin, Texas, today, where investors will decide the fate of CEO Elon Musk's enormous $50 billion compensation package.

The event is not just about Musk's payday. Tesla's board is portraying it as a pivotal moment in the company's effort to secure Musk's attention span, which is divided between X Corp., SpaceX, Neuralink, and his other companies. It also hinges on the question of whether Musk can steer Tesla back on track.

From the looks of things, Musk may get exactly what he wants: both the money and the reincorporation of Tesla in Texas in retaliation of a Delaware judge voiding Musk's …

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Tesla’s $50 billion question comes down to the wire

2024-06-12T14:51:08-04:00

On Thursday, Tesla shareholders will face a stark choice: approve Elon Musk's enormous pay package, the largest ever awarded to a chief executive, or risk him picking up his ball and going home.

The shareholder meeting on Thursday is a referendum on Musk's tumultuous leadership, in which he took a relatively niche startup, wrested it away from its founders, and turned it into what is arguably one of the most consequential car companies in modern history. To reward him for this feat, shareholders are being asked to cast an unprecedented vote on Musk's compensation - to the tune of $50 billion - for the second time. And in a post on X late W …

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Tesla CEO Elon Musk could leave if $56 billion pay package not approved, shareholders warned

2024-06-06T14:41:33-04:00

Tesla board chair Robyn Denholm is calling on the company's shareholders to approve Elon Musk's massive $56 billion pay package or risk driving the billionaire CEO to greener pastures.

On June 13th, Tesla shareholders will decide the fate of Musk's compensation package, which is estimated to be worth as much as $56 billion. It will be the second time that shareholders will vote on the CEO's pay, after a Delaware judge voided the first one earlier this year on the grounds that the approval process was "deeply flawed." And now the company is engaged in a full-court press to convince shareholders to approve his compensation, as well as a propo …

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Elon Musk is taking on Tesla ‘oathbreakers’ in fight for his $56 billion pay package

2024-06-03T10:21:14-04:00

The fight for Tesla CEO Elon Musk's enormous pay package is heating up.

And Musk doesn't want to leave anything to chance. He is lobbying shareholders on his social media platform X, offering private tours of Tesla's factory in Texas, and lashing out against those that suggest the proposed pay package is too …

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Elon Musk won’t get his $55 billion pay package after all

2024-01-30T17:01:43-05:00

Elon Musk isn't going to get that $55 billion pay package after all, a Delaware Court of Chancery judge has ruled. The ruling means Tesla's board will need to come up with a new proposal.

The ruling threatens Musk's fortune if it makes it through an appeal, Bloomberg reports. Without the options in that package, Musk may only be the third-richest man in the world.

Tesla shareholders approved the package in 2018, which gave Musk incentive to hit specific milestones, including a market valuation of $650 billion, which was more than 10 times Tesla's value at the time. The trial hinged on a specific question: did Musk mislead the shareholders …

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Tesla on trial: Autopilot and Elon Musk’s $56 billion pay package under scrutiny in separate cases

2022-11-14T16:01:59-05:00

As if he doesn't have enough going on, Elon Musk will find himself in court later this week defending his $56 billion pay package from allegations by Tesla shareholders that it was rigged with easy performance targets.

And that's not all! On Tuesday in Los Angeles, a Tesla Model S owner is on trial for manslaughter in a case that experts are calling it a first-of-its-kind legal test of the responsibility of a human driver in a car with advanced driver-assist technology like Tesla's Autopilot.

Taken together, the twin trials represent a critical test for Musk's multitasking skills

Taken together, the twin trials represent a critical test for …

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Tesla becomes most valuable automaker as more workers contract COVID-19

2020-06-10T17:18:36-04:00

Tesla's stock price hit $1,000 for the first time on Wednesday, meaning the Silicon Valley company has now passed Toyota in market capitalization and is the most valuable automaker in the world by that metric.

This comes as at least six Tesla employees have tested positive for COVID-19 in California since CEO Elon Musk reopened the company's facilities there last month - initially in violation of stay-home orders, and then with the blessing of local officials - according to new reports from The Washington Post and Electrek. An employee at Tesla's Buffalo, New York solar panel factory also tested positive for COVID-19 after that facility reo …

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