Tesla’s shareholders have approved CEO Elon Musk’s $45 billion (about Rs 3.7 lakh crore) package. The results of the vote were announced on Thursday. Recently, Musk’s package was challenged by some shareholders in the Delaware court. Elon Musk looked very happy after the package was approved by the shareholders. Coming on stage during the annual meeting at Tesla’s headquarters, Musk said- ‘I just want to start by saying, hey, I love you guys!’ Relief for people who support Musk This result is a relief for people who support Musk. This is because they feared that if this package is rejected, Musk will spend less time in Tesla’s management or may even decide to leave the company. Tasha Keeney, Director of Investment Analysis at ARK Invest, said- I think it is important for Musk to remain at the top. At the same time, this decision is a setback for those investors who hoped that the rejection of Musk’s package would send a message about the limit of CEO’s payment. Kristin Hull, founder and chief investment officer of Nia Impact Capital, said, this is a higher salary package than what we have seen in the US and I don’t think it sets a good example. Elon Musk’s package was prepared in 2017 90% of retail investors voted in favor of the package Tesla’s board voted against Kathleen St. J. This voting was done in response to McCormick’s decision. 90% of retail investors voted in favor of this package. What is stock option? Stock option means giving shares to the company’s employees. After getting the shares, the employees can earn profit by selling these shares as per the terms and conditions.
