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Tesla investors back $56bn Musk pay deal

Posted on AllSides June 14th, 2024
From The Center

Tesla shareholders have backed a record-breaking pay package for boss Elon Musk and approved a plan to move the firm's legal headquarters to Texas.

The deal was blocked earlier this year by a judge in Delaware over concerns it was unfair to shareholders.

The vote is a victory for the multi-billionaire, who had campaigned fiercely for the payout, which is worth up to $56bn (£43.9bn). The exact amount depends on the Tesla share price.

"Hot damn, I love you guys," he told a crowd of enthusiastic shareholders who had gathered...

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