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Musk Faces Growing Opposition to $56B Pay Deal Ahead of 6/13 Vote

Musk Faces Growing Opposition to $56B Pay Deal Ahead of 6/13 Vote

A growing number of investors have announced they will vote against the $56 billion pay package Tesla’s board of directors wants to give CEO Elon Musk – though the South African-born executive insists he has lined up enough support for the proposals approval during a shareholder’s meeting this week. What happens if the plan is rejected? Musk already has fired a warning shot.

Musk’s Antics Could Cost Him $56 Billion Pay Package

Musk’s Antics Could Cost Him $56 Billion Pay Package

Elon Musk’s increasingly mercurial behavior is having a substantial impact on the Texas-based EV maker. But it may also have a serious impact on the Tesla CEO himself as shareholder resistance grows to the $50 billion pay package the automaker wants to give Musk. A key investor, and former Musk “fanboy,” voting no.